Yet another reason to tax goods
Autor(a) principal: | |
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Data de Publicação: | 2003 |
Tipo de documento: | Artigo |
Idioma: | eng |
Título da fonte: | Repositório Institucional do FGV (FGV Repositório Digital) |
Texto Completo: | http://hdl.handle.net/10438/12474 |
Resumo: | When, in a dynamic model, choices by an agent : i) are not observed, and; ii) affect preferences conditional on the realization of types, new and unexpected features come up in Mirrlees’ (1971) optimal taxation frame- work. In the simplest possible model where a non-trivial filtration may be incorporated, we show how these two characteristics make it neces- sary for IC constraints to be defined in terms of strategies rather than pure announcements. Tax prescriptions are derived, and we are able to show that uniform taxation prescription of Atkinson and Stiglitz fails to hold, in general. Clean results regarding capital income taxation are not easy to come about because usual assumption on preferences do not allow for determining which constraints bind at the optimum. However, in the most ’natural’ cases, we show that return on capital ought to be taxed. |
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Costa, Carlos Eugênio daEscolas::EPGEFGV2014-11-18T12:55:49Z2014-11-18T12:55:49Z2003-11-27http://hdl.handle.net/10438/12474When, in a dynamic model, choices by an agent : i) are not observed, and; ii) affect preferences conditional on the realization of types, new and unexpected features come up in Mirrlees’ (1971) optimal taxation frame- work. In the simplest possible model where a non-trivial filtration may be incorporated, we show how these two characteristics make it neces- sary for IC constraints to be defined in terms of strategies rather than pure announcements. Tax prescriptions are derived, and we are able to show that uniform taxation prescription of Atkinson and Stiglitz fails to hold, in general. Clean results regarding capital income taxation are not easy to come about because usual assumption on preferences do not allow for determining which constraints bind at the optimum. However, in the most ’natural’ cases, we show that return on capital ought to be taxed.engEscola de Pós-Graduação em Economia da FGVSeminários de pesquisa econômica da EPGETodo cuidado foi dispensado para respeitar os direitos autorais deste trabalho. Entretanto, caso esta obra aqui depositada seja protegida por direitos autorais externos a esta instituição, contamos com a compreensão do autor e solicitamos que o mesmo faça contato através do Fale Conosco para que possamos tomar as providências cabíveisinfo:eu-repo/semantics/openAccessNon-observabilityDynamic contractsOptimal taxationEconomiaImpostosYet another reason to tax goodsinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articlereponame:Repositório Institucional do FGV (FGV Repositório Digital)instname:Fundação Getulio Vargas (FGV)instacron:FGVORIGINAL1471.pdf1471.pdfapplication/pdf302195https://repositorio.fgv.br/bitstreams/3262d509-a120-43c4-ace7-2b55d4c7f0d9/download452f864d4126eb8e37df880de40100f8MD51LICENSElicense.txtlicense.txttext/plain; charset=utf-84707https://repositorio.fgv.br/bitstreams/2a8c91bf-95df-4504-aa45-9d2dd6372dc5/downloaddfb340242cced38a6cca06c627998fa1MD52TEXT1471.pdf.txt1471.pdf.txtExtracted 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dc.title.eng.fl_str_mv |
Yet another reason to tax goods |
title |
Yet another reason to tax goods |
spellingShingle |
Yet another reason to tax goods Costa, Carlos Eugênio da Non-observability Dynamic contracts Optimal taxation Economia Impostos |
title_short |
Yet another reason to tax goods |
title_full |
Yet another reason to tax goods |
title_fullStr |
Yet another reason to tax goods |
title_full_unstemmed |
Yet another reason to tax goods |
title_sort |
Yet another reason to tax goods |
author |
Costa, Carlos Eugênio da |
author_facet |
Costa, Carlos Eugênio da |
author_role |
author |
dc.contributor.unidadefgv.por.fl_str_mv |
Escolas::EPGE |
dc.contributor.affiliation.none.fl_str_mv |
FGV |
dc.contributor.author.fl_str_mv |
Costa, Carlos Eugênio da |
dc.subject.eng.fl_str_mv |
Non-observability Dynamic contracts Optimal taxation |
topic |
Non-observability Dynamic contracts Optimal taxation Economia Impostos |
dc.subject.area.por.fl_str_mv |
Economia |
dc.subject.bibliodata.por.fl_str_mv |
Impostos |
description |
When, in a dynamic model, choices by an agent : i) are not observed, and; ii) affect preferences conditional on the realization of types, new and unexpected features come up in Mirrlees’ (1971) optimal taxation frame- work. In the simplest possible model where a non-trivial filtration may be incorporated, we show how these two characteristics make it neces- sary for IC constraints to be defined in terms of strategies rather than pure announcements. Tax prescriptions are derived, and we are able to show that uniform taxation prescription of Atkinson and Stiglitz fails to hold, in general. Clean results regarding capital income taxation are not easy to come about because usual assumption on preferences do not allow for determining which constraints bind at the optimum. However, in the most ’natural’ cases, we show that return on capital ought to be taxed. |
publishDate |
2003 |
dc.date.issued.fl_str_mv |
2003-11-27 |
dc.date.accessioned.fl_str_mv |
2014-11-18T12:55:49Z |
dc.date.available.fl_str_mv |
2014-11-18T12:55:49Z |
dc.type.status.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/article |
format |
article |
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dc.identifier.uri.fl_str_mv |
http://hdl.handle.net/10438/12474 |
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http://hdl.handle.net/10438/12474 |
dc.language.iso.fl_str_mv |
eng |
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eng |
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Seminários de pesquisa econômica da EPGE |
dc.rights.driver.fl_str_mv |
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openAccess |
dc.publisher.none.fl_str_mv |
Escola de Pós-Graduação em Economia da FGV |
publisher.none.fl_str_mv |
Escola de Pós-Graduação em Economia da FGV |
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