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The paper studies the dynamic macroeconomic and welfare effects of tax policy in the context of an overlapping-generations model of the Yaari-Blanchard type for a closed economy. The model is extended to allow for endogenous labor supply and three tax instruments—namely, a capital tax, labor income tax, and consumption tax. It is shown that labor taxes increase welfare of old generations wherea...
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ژورنال
عنوان ژورنال: Revista Política
سال: 2011
ISSN: 0716-1077,0716-1077
DOI: 10.5354/0716-1077.2011.17267