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- Publisher Website: 10.1016/0304-3932(95)01232-X
- Scopus: eid_2-s2.0-0000850771
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Article: Endogenous capital utilization, investor's effort, and optimal fiscal policy
Title | Endogenous capital utilization, investor's effort, and optimal fiscal policy |
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Authors | |
Keywords | Endogenous capital utilization Investor's effort Optimal fiscal policy Time consistency |
Issue Date | 1995 |
Citation | Journal of Monetary Economics, 1995, v. 36, n. 3, p. 655-677 How to Cite? |
Abstract | The present paper studies the implications of endogenous capital utilization and investor's effort on the structure and time consistency of optimal fiscal policy. The main results are that levies of old capital are distortionary and should therefore not be used at confiscatory rates, that in a steady state capital and labor income should be taxed at the same rate and investment should be subsidized at the same rate as the tax rate, and that the optimal tax policy can be made time-consistent through debt restructuring. © 1996. |
Persistent Identifier | http://hdl.handle.net/10722/315163 |
ISSN | 2023 Impact Factor: 4.3 2023 SCImago Journal Rankings: 6.564 |
ISI Accession Number ID |
DC Field | Value | Language |
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dc.contributor.author | Zhu, Xiaodong | - |
dc.date.accessioned | 2022-08-05T10:17:54Z | - |
dc.date.available | 2022-08-05T10:17:54Z | - |
dc.date.issued | 1995 | - |
dc.identifier.citation | Journal of Monetary Economics, 1995, v. 36, n. 3, p. 655-677 | - |
dc.identifier.issn | 0304-3932 | - |
dc.identifier.uri | http://hdl.handle.net/10722/315163 | - |
dc.description.abstract | The present paper studies the implications of endogenous capital utilization and investor's effort on the structure and time consistency of optimal fiscal policy. The main results are that levies of old capital are distortionary and should therefore not be used at confiscatory rates, that in a steady state capital and labor income should be taxed at the same rate and investment should be subsidized at the same rate as the tax rate, and that the optimal tax policy can be made time-consistent through debt restructuring. © 1996. | - |
dc.language | eng | - |
dc.relation.ispartof | Journal of Monetary Economics | - |
dc.subject | Endogenous capital utilization | - |
dc.subject | Investor's effort | - |
dc.subject | Optimal fiscal policy | - |
dc.subject | Time consistency | - |
dc.title | Endogenous capital utilization, investor's effort, and optimal fiscal policy | - |
dc.type | Article | - |
dc.description.nature | link_to_subscribed_fulltext | - |
dc.identifier.doi | 10.1016/0304-3932(95)01232-X | - |
dc.identifier.scopus | eid_2-s2.0-0000850771 | - |
dc.identifier.volume | 36 | - |
dc.identifier.issue | 3 | - |
dc.identifier.spage | 655 | - |
dc.identifier.epage | 677 | - |
dc.identifier.isi | WOS:A1995UK89900010 | - |