scholarly journals Optimal Taxation and Constrained Inefficiency in an Infinite-Horizon Economy with Incomplete Markets

2011 ◽  
Author(s):  
Piero Gottardi ◽  
Atsushi Kajii ◽  
Tomoyuki Nakajima
Keyword(s):  
Incomplete Markets ◽  
Optimal Taxation ◽  
Infinite Horizon

INFINITE HORIZON INCOMPLETE MARKETS WITH A CONTINUUM OF STATES

1996 ◽  
Vol 6 (2) ◽  
pp. 119-132 ◽  
Author(s):  
Aloisio Araujo ◽  
Paulo K. Monteiro ◽  
M´rio Rui P´ascoa
Keyword(s):  
Incomplete Markets ◽  
Infinite Horizon ◽  
Continuum Of States

scholarly journals Optimal Taxation with Endogenous Default under Incomplete Markets

2020 ◽  
Vol 2020 (1297) ◽  
Author(s):  
◽  
Demian Pouzo ◽  
Ignacio Presno ◽  
◽  
Keyword(s):  
Incomplete Markets ◽  
Optimal Taxation ◽  
Endogenous Default

scholarly journals Optimal Taxation with Private Insurance

2021 ◽  
Author(s):  
Yongsung Chang ◽  
Yena Park
Keyword(s):  
Incomplete Markets ◽  
Optimal Taxation ◽  
Private Insurance ◽  
Borrowing Constraints ◽  
Welfare Effects ◽  
Sufficient Statistics ◽  
Pecuniary Externalities ◽  
Optimal Tax ◽  
Private Market ◽  
Asset Distribution

Abstract We derive a fully nonlinear optimal income tax schedule in the presence of private insurance. We fill the gap in the literature by studying the optimal tax formula with a comprehensive structure of the private markets—including incomplete markets models— both theoretically and quantitatively. As in the standard taxation literature without private insurance (e.g., Saez (2001)), the optimal tax formula can still be expressed in terms of standard sufficient statistics. With private insurance, however, the formula involves additional terms that reflect how the private market interacts with public insurance. For example, the optimal tax formula should also consider asset distribution and pecuniary externalities as well as the welfare effects of borrowing constraints.

scholarly journals Markovian equilibrium in infinite horizon economies with incomplete markets and public policy

2005 ◽  
Vol 41 (4-5) ◽  
pp. 505-544 ◽  
Author(s):  
Manjira Datta ◽  
Leonard J. Mirman ◽  
Olivier F. Morand ◽  
Kevin L. Reffett
Keyword(s):  
Public Policy ◽  
Incomplete Markets ◽  
Infinite Horizon

Infinite Horizon Incomplete Markets

Econometrica ◽  
1994 ◽  
Vol 62 (4) ◽  
pp. 853 ◽  
Author(s):  
Michael Magill ◽  
Martine Quinzii
Keyword(s):  
Incomplete Markets ◽  
Infinite Horizon

Competitive Equilibria for Infinite-Horizon Economies with Incomplete Markets

1996 ◽  
Vol 71 (1) ◽  
pp. 102-130 ◽  
Author(s):  
Alejandro Hernández D. ◽  
Manuel S. Santos
Keyword(s):  
Incomplete Markets ◽  
Infinite Horizon ◽  
Competitive Equilibria
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