教師資料查詢 | 類別: 期刊論文 | 教師: 陳智華 Jhy-hwa Chen (瀏覽個人網頁)

標題:Consumption Externalities, Market Imperfections, and Optimal Taxation
學年101
學期1
出版(發表)日期2012/12/01
作品名稱Consumption Externalities, Market Imperfections, and Optimal Taxation
作品名稱(其他語言)
著者Chang, Juin-jen; Chen, Jhy-hwa; Shieh, Jhy-yuan
單位
出版者
著錄名稱、卷期、頁數International Journal of Economic Theory 8(4), p.345-359
摘要In a dynamic model with a keeping-up-with-the Joneses preference and market imperfections, we attempt to investigate under what circumstances and for what reason the optimal tax should be state-varying. We extend the Ljungqvist and Uhlig (2000) proposition to include preferences that exhibit non-homotheticity. We show that a keeping-up-with-the-Joneses preference (a non-intertemporally-dependent preference) can lead the social planner to commit to a state-contingent tax on labor income. Moreover, the optimal labor income tax can be either procyclical or countercyclical with respect to economic fluctuations, this crucially depending on whether the level of contemporaneous consumption increases or decreases the wedge between the intertemporal substitution elasticity of households and of the social planner.
關鍵字consumption externalities;market imperfections;keeping up with the Joneses;state-contingent tax policy
語言英文
ISSN1742-7363
期刊性質國外
收錄於SSCI;
產學合作
通訊作者
審稿制度
國別英國
公開徵稿
出版型式,電子版
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