CYCLICAL AND NONCYCLICAL REDISTRIBUTIVE TAXATION
成果类型：
Article
署名作者：
KEMP, MC; LONG, NV; SHIMOMURA, K
署名单位：
McGill University; Australian National University; Kobe University
刊物名称：
INTERNATIONAL ECONOMIC REVIEW
ISSN/ISSBN：
0020-6598
DOI：
10.2307/2526922
发表日期：
1993
页码：
415-429
关键词：
摘要：
Consider the optimal time path of a tax on capital income the proceeds of which are transferred to labour in a lump sum. It is known from earlier open-loop formulations that, if the optimal rate of tax converges to a point, it converges to zero, implying that, in the long run, a tax on capital income can do nothing for social welfare. It is now shown that the optimal rate of tax need not converge to zero and, in the case of feedback formulations, that it may converge to a positive or negative number or to a limit cycle.
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