Optimal Intertemporal Taxationon Consumption and the Term Structure of Government Debt

Nopic
This paper addresses the time-consistency problem of optimal policy when intertemporal prices are inflexible. For small, open economies facing given world interest rates, it shows that a consumption tax, rather than a tax on wage income, is time-consistent under a variety of circumstances, even including some cases where the optimal tax rate is... READ MORE...

Publication date: December 1988
ISBN 9781451942729
$10.00

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Publication date: December 1988

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