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Fiscal policy when individuals differ with regard to altruism and labor supply

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  • MICHEL, Philippe
  • PESTIEAU, Pierre

Abstract

This paper studies the incidence of tax-transfer policy in a growth model wherein individuals differ according to their level of intergenerational altruism and have an endogenous labor supply. The main result is that public debt is neutral at the macro level but redistributes resources from nonaltruists to altruists. Capital income taxation can hurt the nonaltruists who do not have any wealth more than it hurts the altruists who own all of it. Whether or not the altruists supply a positive amount of labor makes a big difference as to the incidence of alternative tax transfer policies. Copyright 1999 by Blackwell Publishing Inc.
(This abstract was borrowed from another version of this item.)

Suggested Citation

  • MICHEL, Philippe & PESTIEAU, Pierre, 1999. "Fiscal policy when individuals differ with regard to altruism and labor supply," CORE Discussion Papers RP 1381, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  • Handle: RePEc:cor:louvrp:1381
    Note: In : Journal of Public Economic Theory, 1(2), 187-203, 1999
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    File URL: http://dx.doi.org/10.1111/1097-3923.00008
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    Cited by:

    1. Bosi, Stefano & Seegmuller, Thomas, 2010. "On the Ramsey equilibrium with heterogeneous consumers and endogenous labor supply," Journal of Mathematical Economics, Elsevier, vol. 46(4), pages 475-492, July.
    2. Nishimura, Kazuo & Nourry, Carine & Seegmuller, Thomas & Venditti, Alain, 2016. "Public Spending As A Source Of Endogenous Business Cycles In A Ramsey Model With Many Agents," Macroeconomic Dynamics, Cambridge University Press, vol. 20(02), pages 504-524, March.
    3. Stefano Bosi & Thomas Seegmuller, 2009. "On local indeterminacy and endogenous cycles in Ramsey models with heterogeneous households," Portuguese Economic Journal, Springer;Instituto Superior de Economia e Gestao, vol. 8(1), pages 53-58, April.
    4. MICHEL, Philippe & PESTIEAU, Pierre, 2001. "Fiscal policy in a growth model with bequest-as-consumption," CORE Discussion Papers 2001009, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
    5. Stéphane Lambrecht & Philippe Michel & Emmanuel Thibault, 2006. "Capital Accumulation and Fiscal Policy in an OLG Model with Family Altruism," Journal of Public Economic Theory, Association for Public Economic Theory, vol. 8(3), pages 465-486, August.
    6. Bosi, Stefano & Seegmuller, Thomas, 2010. "On the role of progressive taxation in a Ramsey model with heterogeneous households," Journal of Mathematical Economics, Elsevier, vol. 46(6), pages 977-996, November.

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