On Optimal Commodity Taxes When Consumption Is Time Consuming
نویسندگان
چکیده
منابع مشابه
Optimal Investment and Consumption Decisions when Time-Horizon is Uncertain
Many investors do not know with certainty when their portfolio will be liquidated. Should their portfolio selection be in‡uenced by the uncertainty of exit time? In order to answer that question, we consider a suitable extension of the familiar optimal investment problem of Merton (1971), where we allow the conditional distribution function of an agent’s time-horizon to be stochastic and correl...
متن کاملOptimal consumption when capital markets are imperfect *
Capital market imperfections are widely believed to explain why consumption deviates from the martingale implications of the REPIH. However, empirical modelling and theoretical analysis of consumption under capital market imperfections is hindered by the absence of any tractable theoretical model. By modelling capital market imperfections as consumers facing an upward sloping interest rate sche...
متن کاملOptimal Taxes on Wealth and Consumption in the Presence of Tax Evasion
This article incorporates tax evasion into an optimum taxation framework with individuals di ering in earning abilities and initial wealth. We nd that despite the possibility of its evasion a tax on initial wealth should supplement the optimal nonlinear income tax, given a positive correlation between initial wealth and earning abilities. Further, even if income and initial wealth are taxed opt...
متن کاملOptimal Financial Transaction Taxes
This paper characterizes the optimal linear financial transaction tax in an equilibrium model of competitive financial markets. As long as investors hold heterogeneous beliefs about the returns of assets in fixed supply and the planner calculates welfare using any single belief, we expect the optimal tax to be positive, even when a fraction of trading is fundamental. Strikingly, the optimal tax...
متن کاملColor filters: When "optimal" is not optimal
It is well known that many more than three or four spectral measurements are required for accurate measurement of color. Previous work has shown seven to ten measurements can yield accurate results on average, but with significant numbers of errors above the threshold of obvious visual detection. Furthermore, the filters used for these measurements are very difficult to fabricate. We show that ...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: Journal of Public Economic Theory
سال: 2007
ISSN: 1097-3923,1467-9779
DOI: 10.1111/j.1467-9779.2007.00295.x