Alonso-Carrera, Jaime; Caballé, Jordi; Raurich, Xavier - Departament d'Economia i Història Econòmica, … - 2005
optimal tax policy that solves this intertemporal inefficiency consists of a tax on capital income and a pay-as-you-go social … allocation of consumption implies in turn that the path of bequest is also suboptimal. The optimal tax policy in this case …