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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Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Mankiw, N. Gregory & Weinzierl, Matthew Charles & Yagan, Danny Ferris, 2009.
"Optimal Taxation in Theory and Practice,"
4263739, Harvard University Department of Economics.
- 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.
- N. Gregory Mankiw & Matthew Weinzierl & Danny Yagan, 2009. "Optimal Taxation in Theory and Practice," NBER Working Papers 15071, National Bureau of Economic Research, Inc.
- Balasko, Yves, 1979.
"Budget-constrained Pareto-efficient allocations,"
Journal of Economic Theory,
Elsevier, vol. 21(3), pages 359-379, December.
- Debreu, Gerard, 1972.
Econometric Society, vol. 40(4), pages 603-15, July.
- Hahn, Frank H., 1973. "On optimum taxation," Journal of Economic Theory, Elsevier, vol. 6(1), pages 96-106, February.
- Debreu, Gerard, 1970.
"Economies with a Finite Set of Equilibria,"
Econometric Society, vol. 38(3), pages 387-92, May.
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