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updated as a function of the labor income and the previous balance.
Persistent link: https://www.econbiz.de/10011080687
We analytically and quantitatively examine a prominent justifi…cation for capital income taxation: goods preferred by those with high ability ought to be taxed. We study an environment where commodity taxes are allowed to be nonlinear functions of income and consumption and …find that, when...
Persistent link: https://www.econbiz.de/10011080728
intertemporal distortions.
Persistent link: https://www.econbiz.de/10010554432
Persistent link: https://www.econbiz.de/10011080681
At any given point of time in an actual economy, some individuals hold more money than other individuals do. This non-degenerate distribution of money holdings among individuals is a rationale for a range of policies designed for reallocating liquidity among individuals. However, monetary theory...
Persistent link: https://www.econbiz.de/10010856593
Arguably the most difficult question in macroeconomics is: why do individuals set prices in nominal terms that do not respond to changes in the aggregate price level? Of course some must respond, or the aggregate does not change, but many prices seem sticky in the short run. In popular macro...
Persistent link: https://www.econbiz.de/10010554413