Equilibrium in a Production Economy with an Income Tax
Equilibrium in a Production Economy with an Income Tax
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征收所得税的生产经济中的均衡
DOI：
10.2307/2938175
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发表时间：
1991
期刊：
影响因子：
6.1
通讯作者：
Wilbur John Coleman
中科院分区：
文献类型：
--
作者：
Wilbur John Coleman
本文发展了一种方法来研究由国家依赖的所得税扭曲的无限时域生产经济。这种设置允许税收取决于资本存量，一个内生的状态变量，从而捕捉到资本和税收的演变是共同决定的情况。为了求解这个模型，消费函数被表示为非线性单调算子的不动点，该算子被定义为使得其第n次迭代计算出对应的有限时域经济的距离时域n步的消费函数。算子的单调性被用来证明均衡的存在性和构造均衡。版权所有1991年由计量经济学会。
This paper develops a method to study an infinite-horizon production economy distorted by a state-dependent income tax. This setting permits taxes to depend on the capital stock, an endogenous state variable, and thus captures situations where the evolution for capital and taxes is jointly determined. To solve this model, the consumption function is represented as a fixed point of a nonlinear monotone operator that is defined such that its nth iteration computes the consumption function n steps away from the horizon for a corresponding finite-horizon economy. The oparator's monotonicity is exploited in proving the existence of, and constructing, an equilibrium. Copyright 1991 by The Econometric Society.