On the equivalence between labor and consumption taxation

This article studies the equivalence between labor and consumption taxes in a stochastic context, where the government can undertake an active portfolio management strategy by investing in both risk-free and risky assets. Using a two-period model we show that such taxes let consumers make the same decisions, and can finance the same amount of government spending in each period.

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Year of publication:	2009
Authors:	Panteghini, Paolo M.
Publisher:	Munich : Center for Economic Studies and ifo Institute (CESifo)
Subject:	Lohnsteuer \| Verbrauchsteuer \| Öffentliche Einnahmen \| Öffentliche Ausgaben \| Risiko \| Stochastischer Prozess \| Portfolio-Management \| Theorie \| Consumption and labor taxation \| equivalence \| risk

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Series:	CESifo Working Paper ; 2593
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Working Paper
Language:	English
Other identifiers:	595827187 [GVK] hdl:10419/26638 [Handle]
Classification:	H24 - Personal Income and Other Nonbusiness Taxes and Subsidies
Source:	EconStor

Persistent link: https://www.econbiz.de/10010276146