Progressive taxation and macroeconomic stability in two-sector models with social constant returns

Been Lon Chen, Mei Hsu, Yu Shan Hsu

研究成果: 雜誌貢獻文章

1 引文 斯高帕斯(Scopus)

摘要

It has been shown that, in the two-sector Benhabib–Farmer–Guo model with technologies of social increasing returns that exhibits indeterminacy, progressive income taxes de-stabilize the economy. This paper revisits the robustness of the tax implication in the two-sector Benhabib–Nishimura model with technologies of social constant returns that exhibits indeterminacy. We show that a progressive income tax stabilizes the economy against sunspot fluctuations, and thus the tax implication based on the two-sector Benhabib–Farmer–Guo model is not robust.

原文英語
頁(從 - 到)51-68
頁數18
期刊Journal of Economics/ Zeitschrift fur Nationalokonomie
125
發行號1
DOIs
出版狀態已發佈 - 2018 九月 1

ASJC Scopus subject areas

  • Business, Management and Accounting(all)
  • Economics and Econometrics

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