The Transition to a Cash Flow Income Tax
The paper presents a one good two country computable general equilibrium model with overlapping generations to evaluate intertemporal and international effects from tax reform. Model treatment of household and firm behavior is firmly rooted in the microeconomic theory of intertemporal choice. The paper considers the effects from the implementation of a cash flow income tax which was shown to be neutral with respect to intertemporal decisions. The paper compares the effects in closed and open economies. In solving for transition paths to new intertemporal equilibria, I also discuss the generational welfare consequences of various arrangements that affect the transition paths.
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|Date of creation:||Jan 1990|
|Date of revision:|
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- Lawrence H. Goulder & Lawrence H. Summers, 1987. "Tax Policy, Asset Prices, and Growth: A General Equilibrium Analysis," NBER Working Papers 2128, National Bureau of Economic Research, Inc.
- Bovenberg, A.L., 1988. "The corporate tax in an intertemporal equilibrium model with imperfectly mobile capital," Other publications TiSEM feff37fb-c981-45fa-b2d8-7, Tilburg University, School of Economics and Management.
- Robin Boadway & Neil Bruce & Jack Mintz, 1981.
"On the Neutrality of Flow-of-Funds Corporate Taxation,"
454, Queen's University, Department of Economics.
- Boadway, Robin W & Bruce, Neil & Mintz, Jack M, 1983. "On the Neutrality of Flow-of-Funds Corporate Taxation," Economica, London School of Economics and Political Science, vol. 50(197), pages 49-61, February.
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