What people are saying - Write a review
We haven't found any reviews in the usual places.
Debt Neutrality Generational Accounts Intergenerational
Other editions - View all
accounts are uninformative after-tax rate assume before-tax beginning of period bequest motive born in period borrowing constraint budget's impact Buiter capital income tax capital rental rate capital-labor ratio consumer theory current and future debt neutrality discounted distortionary tax elasticity of substitution equilibrium repercussions example factor incomes factor prices fiscal policy future labor income given in equation Gokhale government budget government consumption program government's consumption program Hayashi household Inada conditions income tax rate interest rates intergenerational distribution intergenerational externalities intertemporal equilibrium intertemporal substitution Kotlikoff labor endowment life-cycle model Liquidity Constraints long-run lump-sum tax marginal product marginal utility negative old in period overlapping generations model present value prices and quantities private consumption product of capital proportional tax public consumption public generational account R.H.S. of equation rate of interest rates of return real wage representative member Ricardian equivalence seigniorage t,t+i tax-transfer taxes and transfers taxes paid Tt,t young in period