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The Dynamic Macroeconomic Effects of Tax Policy in an Overlapping Generations Model

1998-12-01 Business & Economics
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Release : 1998-12-01
Genre : Business & Economics
Kind : eBook
Book Rating : 244/5 ( reviews)

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Book Synopsis The Dynamic Macroeconomic Effects of Tax Policy in an Overlapping Generations Model by : Ms.Jenny Elisabeth Ligthart

Download or read book The Dynamic Macroeconomic Effects of Tax Policy in an Overlapping Generations Model written by Ms.Jenny Elisabeth Ligthart. This book was released on 1998-12-01. Available in PDF, EPUB and Kindle. Book excerpt: The paper studies the dynamic allocation effects of tax policy in the context of an overlapping generations model of the Blanchard-Yaari type. The model is extended to allow for endogenous labor supply and three tax instruments: a capital income tax, labor income tax, and consumption tax. Analytical expressions and simple diagrams are used to discuss the impact, transition, and long-run effects of tax policy changes. It is shown that a part of the long-run incidence of capital and consumption taxes falls on capital when households’ horizons are finite, whereas labor would fully bear the burden of these taxes in an infinite horizon model.

Public Finance in an Overlapping Generations Economy

1996-11-20 Business & Economics
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Release : 1996-11-20
Genre : Business & Economics
Kind : eBook
Book Rating : 902/5 ( reviews)

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Book Synopsis Public Finance in an Overlapping Generations Economy by : T. Ihori

Download or read book Public Finance in an Overlapping Generations Economy written by T. Ihori. This book was released on 1996-11-20. Available in PDF, EPUB and Kindle. Book excerpt: This book presents a theoretically-based comprehensive analysis of macroeconomic consequences of fiscal policy using a popular economic model: the overlapping generations growth model. A wide range of essential public finance issues is analyzed, including the effects of tax reform on dynamic efficiency, positive and normative effects of public spending, considerations of taxes on fixed assets and monetary holdings, and sustainability of deficits. A unique approach is applied in the study of public finance: one expected to generate substantial interest among current graduate students and active researchers.

The Dynamic Macroeconomic Effort of Tax Policy in an Overlapping Generations Model

1998
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Release : 1998
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Kind : eBook
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Book Synopsis The Dynamic Macroeconomic Effort of Tax Policy in an Overlapping Generations Model by : Ben J. Heijdra

Download or read book The Dynamic Macroeconomic Effort of Tax Policy in an Overlapping Generations Model written by Ben J. Heijdra. This book was released on 1998. Available in PDF, EPUB and Kindle. Book excerpt:

The Intergenerational Effects of Tax Policy in an Overlapping Generations Model with Housing Assets

2018
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Release : 2018
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Book Synopsis The Intergenerational Effects of Tax Policy in an Overlapping Generations Model with Housing Assets by : Youngwook Lee

Download or read book The Intergenerational Effects of Tax Policy in an Overlapping Generations Model with Housing Assets written by Youngwook Lee. This book was released on 2018. Available in PDF, EPUB and Kindle. Book excerpt: Using an overlapping generations model, this paper examines tax policy effects across generations. The model incorporates housing assets separately from capital assets and includes taxes on labor income, capital income, consumption and housing assets. Tax reforms for each tax rate have different effects on tax burdens across generations and the overall efficiency of the economy, leading to different welfare costs for generations. Specifically, raising housing property taxes results in the smallest welfare loss by future generations, as in the model it does not hurt economic efficiency and the tax burden increases mainly for the elderly, who have accumulated housing assets in preparation for retirement.

Introduction to Dynamic Macroeconomic Theory

1991 Business & Economics
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Release : 1991
Genre : Business & Economics
Kind : eBook
Book Rating : 116/5 ( reviews)

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Book Synopsis Introduction to Dynamic Macroeconomic Theory by : George T. McCandless

Download or read book Introduction to Dynamic Macroeconomic Theory written by George T. McCandless. This book was released on 1991. Available in PDF, EPUB and Kindle. Book excerpt: Economies are constantly in flux, and economists have long sought reliable means of analyzing their dynamic properties. This book provides a succinct and accessible exposition of modern dynamic (or intertemporal) macroeconomics. The authors use a microeconomics-based general equilibrium framework, specifically the overlapping generations model, which assumes that in every period there are two generations which overlap. This model allows the authors to fully describe economies over time and to employ traditional welfare analysis to judge the effects of various policies. By choosing to keep the mathematical level simple and to use the same modeling framework throughout, the authors are able to address many subtle economic issues. They analyze savings, social security systems, the determination of interest rates and asset prices for different types of assets, Ricardian equivalence, business cycles, chaos theory, investment, growth, and a variety of monetary phenomena. Introduction to Dynamic Macroeconomic Theory will become a classic of economic exposition and a standard teaching and reference tool for intertemporal macroeconomics and the overlapping generations model. The writing is exceptionally clear. Each result is illustrated with analytical derivations, graphically, and by worked out examples. Exercises, which are strategically placed, are an integral part of the book.

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