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A General Equilibrium Approach to the Luxury Tax

Author

Listed:
  • Stefano Bosi

    (EPEE, University of Evry-Val d’Essonne)

Abstract

Individuals care about appearances and buy luxury goods to signal a social status. A widespread opinion is that the production of conspicuous goods is socially undesirable, because it waste the resources of the economy to implement a sort of vanity game among individuals. A luxury tax could be designed to direct these resources towards more essential productions. The goal of the paper is to set a general equilibrium model, where the demand of conspicuous good is properly conceived as a signaling game, to compute an optimal luxury tax.

Suggested Citation

  • Stefano Bosi, 2000. "A General Equilibrium Approach to the Luxury Tax," Documents de recherche 00-02, Centre d'Études des Politiques Économiques (EPEE), Université d'Evry Val d'Essonne.
    • Handle: RePEc:eve:wpaper:00-02
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    File URL: https://www.univ-evry.fr/fileadmin/mediatheque/ueve-institutionnel/03_Recherche/laboratoires/Epee/wp/00-02R.pdf
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    More about this item

    Keywords

    conspicuous consumption; luxury tax;

    JEL classification:

    • D11 - Microeconomics - - Household Behavior - - - Consumer Economics: Theory
    • D50 - Microeconomics - - General Equilibrium and Disequilibrium - - - General
    • H20 - Public Economics - - Taxation, Subsidies, and Revenue - - - General

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