The optimality of the Friedman rule when some distorting taxes are exogenous

Detalhes bibliográficos
Autor(a) principal: Cunha, Alexandre Barros da
Data de Publicação: 2005
Tipo de documento: Artigo
Idioma: eng
Título da fonte: Repositório Institucional do FGV (FGV Repositório Digital)
Texto Completo: http://hdl.handle.net/10438/12479
Resumo: This paper investigates the optimality of the Friedman rule in a two-sector small open economy. That policy prescription is found to be a necessary condition for Pareto efficiency. If a planner can select all conceivable distorting taxes, then, for some initial values of public debt, money balances and foreign assets, it is possible to decentralize a Pareto efficient allocation. If the planner can select only some of these tax rates, then second-best policies may also satisfy the Friedman rule. However, this last result depends on the set of tax instruments the planner can choose from.
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spelling Cunha, Alexandre Barros daEscolas::EPGEFGV2014-11-18T13:34:18Z2014-11-18T13:34:18Z2005-05-19http://hdl.handle.net/10438/12479This paper investigates the optimality of the Friedman rule in a two-sector small open economy. That policy prescription is found to be a necessary condition for Pareto efficiency. If a planner can select all conceivable distorting taxes, then, for some initial values of public debt, money balances and foreign assets, it is possible to decentralize a Pareto efficient allocation. If the planner can select only some of these tax rates, then second-best policies may also satisfy the Friedman rule. However, this last result depends on the set of tax instruments the planner can choose from.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/openAccessOptimal taxationOpen economyFriedman rule, optimal taxation, open economy.EconomiaEconometriaThe optimality of the Friedman rule when some distorting taxes are exogenousinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articlereponame:Repositório Institucional do FGV (FGV Repositório Digital)instname:Fundação Getulio Vargas (FGV)instacron:FGVORIGINAL1848.pdf1848.pdfapplication/pdf309342https://repositorio.fgv.br/bitstreams/100a15d3-f33e-4039-a913-5e0e545e47ea/downloadeef1e965e628dac0614d9e0afa45cc54MD51LICENSElicense.txtlicense.txttext/plain; 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dc.title.eng.fl_str_mv The optimality of the Friedman rule when some distorting taxes are exogenous
title The optimality of the Friedman rule when some distorting taxes are exogenous
spellingShingle The optimality of the Friedman rule when some distorting taxes are exogenous
Cunha, Alexandre Barros da
Optimal taxation
Open economy
Friedman rule, optimal taxation, open economy.
Economia
Econometria
title_short The optimality of the Friedman rule when some distorting taxes are exogenous
title_full The optimality of the Friedman rule when some distorting taxes are exogenous
title_fullStr The optimality of the Friedman rule when some distorting taxes are exogenous
title_full_unstemmed The optimality of the Friedman rule when some distorting taxes are exogenous
title_sort The optimality of the Friedman rule when some distorting taxes are exogenous
author Cunha, Alexandre Barros da
author_facet Cunha, Alexandre Barros 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 Cunha, Alexandre Barros da
dc.subject.por.fl_str_mv Optimal taxation
Open economy
Friedman rule, optimal taxation, open economy.
topic Optimal taxation
Open economy
Friedman rule, optimal taxation, open economy.
Economia
Econometria
dc.subject.area.por.fl_str_mv Economia
dc.subject.bibliodata.por.fl_str_mv Econometria
description This paper investigates the optimality of the Friedman rule in a two-sector small open economy. That policy prescription is found to be a necessary condition for Pareto efficiency. If a planner can select all conceivable distorting taxes, then, for some initial values of public debt, money balances and foreign assets, it is possible to decentralize a Pareto efficient allocation. If the planner can select only some of these tax rates, then second-best policies may also satisfy the Friedman rule. However, this last result depends on the set of tax instruments the planner can choose from.
publishDate 2005
dc.date.issued.fl_str_mv 2005-05-19
dc.date.accessioned.fl_str_mv 2014-11-18T13:34:18Z
dc.date.available.fl_str_mv 2014-11-18T13:34:18Z
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
format article
status_str publishedVersion
dc.identifier.uri.fl_str_mv http://hdl.handle.net/10438/12479
url http://hdl.handle.net/10438/12479
dc.language.iso.fl_str_mv eng
language eng
dc.relation.ispartofseries.por.fl_str_mv Seminários de pesquisa econômica da EPGE
dc.rights.driver.fl_str_mv info:eu-repo/semantics/openAccess
eu_rights_str_mv 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
dc.source.none.fl_str_mv reponame:Repositório Institucional do FGV (FGV Repositório Digital)
instname:Fundação Getulio Vargas (FGV)
instacron:FGV
instname_str Fundação Getulio Vargas (FGV)
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institution FGV
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collection Repositório Institucional do FGV (FGV Repositório Digital)
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