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来源类型 | Discussion paper |
规范类型 | 论文 |
来源ID | DP16254 |
DP16254 Static and Dynamic Mirrleesian Taxation with Non-separable Preferences: A Unified Approach | |
Christian HELLWIG | |
发表日期 | 2021-06-14 |
出版年 | 2021 |
语种 | 英语 |
摘要 | Abstract I analyze dynamic Mirrlees taxation with preferences that are non-separable between consumption, leisure and type, which determines both ability and consumption needs. I show how to account for non-separable preferences through a simple change in probability measures. I generalize the existing Inverse Euler Equation and optimal static labor tax formulae and provide a unified intuition based on a set of perturbations around the optimal allocations that preserve expected utility and incentive compatibility. Non-separability in preferences gives rise to a new tradeoff between current and future redistribution that is internalized by the planner's solution but not by private savings decisions. This leads to a novel rationale to subsidize (tax) savings and make labor taxes more (less) persistent, when more productive agents also have higher (lower) consumption needs. |
主题 | Macroeconomics and Growth ; Public Economics |
URL | https://cepr.org/publications/dp16254 |
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/545219 |
推荐引用方式 GB/T 7714 | Christian HELLWIG. DP16254 Static and Dynamic Mirrleesian Taxation with Non-separable Preferences: A Unified Approach. 2021. |
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