Reexamination of Dynamic Efficiency with Taxation on Land
This paper examines the possibility of overaccumulation of capital in an overlapping generations economy with land. With zero population growth rate, the steady state equilibrium is dynamically efficient. Imposition of property tax on land, however, distorts the arbitrage condition and can generate dynamic inefficiency, whereas a tax on rental incomes or capital gains preserves dynamic efficiency. Even with a positive growth rate in population, property tax can still generate dynamic inefficiency.
To our knowledge, this item is not available for
download. To find whether it is available, there are three
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.
|Date of creation:||1996|
|Date of revision:|
|Contact details of provider:|| Postal: |
References listed on IDEAS
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.:
- Stefan Homburg, 1991. "Interest and Growth in an Economy with Land," Canadian Journal of Economics, Canadian Economics Association, vol. 24(2), pages 450-59, May.
- Kim, Kyung-Soo & Lee, Jaewoo, 1997.
"Reexamination of dynamic efficiency with taxation on land,"
Elsevier, vol. 57(2), pages 169-175, December.
- Kim, K-S. & Lee, J., 1996. "Reexamination of Dynamic Efficiency with Taxation on Land," Papers 96-97-03, California Irvine - School of Social Sciences.
- Nichols, Donald A, 1970. "Land and Economic Growth," American Economic Review, American Economic Association, vol. 60(3), pages 332-40, June.
- Olivier Jean Blanchard & Stanley Fischer, 1989. "Lectures on Macroeconomics," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262022834, June.
- Rhee, Changyong, 1991. "Dynamic Inefficiency in an Economy with Land," Review of Economic Studies, Wiley Blackwell, vol. 58(4), pages 791-97, July.
- Feldstein, Martin S, 1977. "The Surprising Incidence of a Tax on Pure Rent: A New Answer to an Old Question," Journal of Political Economy, University of Chicago Press, vol. 85(2), pages 349-60, April.
When requesting a correction, please mention this item's handle: RePEc:fth:calirv:96-97-03. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Thomas Krichel)
If references are entirely missing, you can add them using this form.