Public Finance in an Overlapping Generations Economy
Cover -- Contents -- List of Figures -- List of Tables -- Preface and Acknowledgements -- 1 Introduction -- 1 Overview -- 2 Review of basic concepts -- 2 The Model -- 1 Introduction -- 2 The basic model -- 3 Capital accumulation and efficiency -- 4 Endogenous labor supply -- 5 Bequests -- 6 The multi-period framework -- 7 Conclusion -- 3 Tax Policy -- 1 Introduction -- 2 The optimal tax rule -- 3 Tax reform and the timing of tax payments -- 4 Capital income taxation -- 5 Further topics -- 4 Simulation Studies -- 1 Introduction -- 2 The basic model and tax reform -- 3 The dynamic simulation model with endogenous labor supply -- 4 The separation of efficiency and redistribution -- 5 Human capital investment -- 6 Concluding remarks -- 5 Public Spending -- 1 Introduction -- 2 Fiscal spending financed by lump-sum taxation -- 3 Fiscal spending financed by non-lump-sum taxation -- 4 Optimal spending of public goods -- 5 Public investment -- 6 The Open Economy -- 1 Introduction -- 2 The two-country model -- 3 Negative international spillover effects of consumption taxation -- 4 Capital income taxation -- 5 Optimal tax and spending policy -- 7 Money -- 1 Introduction -- 2 Overlapping generations models with money -- 3 Money and inflationary taxes -- 4 Welfare implications of indexing capital income taxation -- 8 Land -- 1 Introduction -- 2 Land and lump-sum taxes -- 3 Money, land, and taxes -- 9 Government Debt -- 1 Introduction -- 2 Government debt and intergenerational transfer -- 3 Debt neutrality with altruistic bequests -- 4 The chain-letter problem -- 5 Future tax reforms in a debt-financed economy -- 10 Social Security -- 1 Introduction -- 2 Overlapping generations model when fertility changes -- 3 Multi-period overlapping generations model -- 4 Welfare effects of an unfunded system when labor supply is endogenous -- 5 Further study.