Optimal Intertemporal Taxationon Consumption and the Term Structure of Government Debt.
This paper addresses the time-consistency problem of optimal policy when intertemporal prices are inflexible. For small, open economies facing given world interest rates, it shows that a consumption tax, rather than a tax on wage income, is time-consistent under a variety of circumstances, even incl...
| Institution som forfatter: | |
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| Format: | Tidsskrift |
| Sprog: | English |
| Udgivet: |
Washington, D.C. :
International Monetary Fund,
1988.
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| Serier: | IMF Working Papers; Working Paper ;
No. 1988/115 |
| Online adgang: | Full text available on IMF |