OPTIMAL TAXATION OF CAPITAL INCOME IN GENERAL EQUILIBRIUM WITH INFINITE LIVES
作者： Christophe Chamley
DOI: 10.2307/1911310
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摘要: This paper analyzes the optimal tax on capital income in general equilibrium models of second best. Agents have infinite lives and utility functions which are extensions from Koopmans form. The population is heterogeneous. important property equality between social private discount rates long run. I find that rate zero For a special case additively separable functions, then determine along dynamic path conditions sufficient for local stability steady state.
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