Heijdra, Ben J.; Kindermann, Fabian; Reijnders, Laurie S. M. - CESifo - 2014
. As there exists a considerable amount of transitional dynamics in the model the welfare effects of the reform differ by … the latter are large enough to – at least in principle – compensate the losers from the policy reform and generate an … overall welfare gain. The second possible reform we study is a Comprehensive Labour Tax (CLT). It is very similar to the GLT …