| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP1442 |
| DP1442 The Optimal Speed of Transition: A General Equilibrium Analysis | |
| Gerard Roland; Micael Castanheira | |
| 发表日期 | 1996-07-31 |
| 出版年 | 1996 |
| 语种 | 英语 |
| 摘要 | This paper seeks to explain the significant variations in the social contract observed across nations. It shows how countries with similar technologies and preferences, as well as equally democratic political systems, can sustain very different average and marginal tax rates. Similarly, it provides an explanation for the striking difference between the US and European systems of education finance and health insurance. With imperfect credit and insurance markets some redistributive policies can have a positive effect on output, growth, or more generally ex-ante welfare. Aggregate efficiency gains, in turn, imply a very different political economy from that of standard models: the extent of political support for such redistributions decreases with the degree of inequality, at least over some range. Moreover, capital market imperfections make future earning a function of current resources. Hence there exists potential for multiple steady states, with mutually reinforcing high inequality and low redistribution, or vice versa. Temporary shocks to the distribution of income or the political system can then have permanent effects. |
| 主题 | International Macroeconomics |
| 关键词 | Education finance Income distribution Inequality Political economy Social contract Taxation Welfare state |
| URL | https://cepr.org/publications/dp1442 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/530584 |
| 推荐引用方式 GB/T 7714 | Gerard Roland,Micael Castanheira. DP1442 The Optimal Speed of Transition: A General Equilibrium Analysis. 1996. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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