Welfare Effects of Income Taxation in a Model of Stochastic Growth
作者： Susanne Soretz , Christiane Clemens
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摘要: This paper analyzes growth and welfare effects of income taxation in a stochastic endogenous model with externalities human-capital accumulation. The government participates individual risks by the collection flat-rate tax that affects mean variance after-tax income. We examine implications tax-transfer policy for macroeconomic equilibrium economy. An increase rate on has an unambiguously negative effect expected rate. Paradoxically, this may induce gains. opposite results can be derived rise transitory These counter-intuitive Arrow-Romer ascribed to specific int eraction consumption portfolio choice determination welfare.
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