Taxation in Walrasian Economy
We consider two models of lump sum taxation in pure exchange economy in which the state imposes taxes on (or offers financial aid to) economic agents characterized by their demand functions and initial resources. In the first model the state has its own preferences and uses the collected money to enter the market and maximize its utility while in the second model it uses the taxes to acquire fixed resources necessary for its functioning. We study the existence and structure of equilibria in general economies, the possibility of using taxation to realize Pareto optimal allocations, and the role of taxation as a possible cause of inflation. Special attention is paid to economies with gross substitutability. Bibliography 18 items.
Volume (Year): (2010)
Issue (Month): 6 ()
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- Balasko, Yves, 1979.
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- N. Gregory Mankiw & Matthew C. Weinzierl & Danny Yagan, 2009. "Optimal Taxation in Theory and Practice," Harvard Business School Working Papers 09-140, Harvard Business School.
- Debreu, Gerard, 1970. "Economies with a Finite Set of Equilibria," Econometrica, Econometric Society, vol. 38(3), pages 387-392, May.
- DEBREU, Gérard, "undated". "Economies with a finite set of equilibria," CORE Discussion Papers RP 67, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
- Hahn, Frank H., 1973. "On optimum taxation," Journal of Economic Theory, Elsevier, vol. 6(1), pages 96-106, February.
- Debreu, Gerard, 1972. "Smooth Preferences," Econometrica, Econometric Society, vol. 40(4), pages 603-615, July.
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