The new dynamic public finance /:
Optimal tax design attempts to resolve a well-known trade-off: namely, that high taxes are bad insofar as they discourage people from working, but good to the degree that, by redistributing wealth, they help insure people against productivity shocks. Until recently, however, economic research on thi...
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Format: | Elektronisch E-Book |
Sprache: | English |
Veröffentlicht: |
Princeton :
Princeton University Press,
©2010.
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Schriftenreihe: | Toulouse lectures in economics.
|
Schlagworte: | |
Online-Zugang: | Volltext |
Zusammenfassung: | Optimal tax design attempts to resolve a well-known trade-off: namely, that high taxes are bad insofar as they discourage people from working, but good to the degree that, by redistributing wealth, they help insure people against productivity shocks. Until recently, however, economic research on this question either ignored people's uncertainty about their future productivities or imposed strong and unrealistic functional form restrictions on taxes. In response to these problems, the new dynamic public finance was developed to study the design of optimal taxes given only minimal restrictions on the set of possible tax instruments, and on the nature of shocks affecting people in the economy. In this book, Narayana Kocherlakota surveys and discusses this exciting new approach to public finance. An important book for advanced PhD courses in public finance and macroeconomics, The New Dynamic Public Finance provides a formal connection between the problem of dynamic optimal taxation and dynamic principal-agent contracting theory. This connection means that the properties of solutions to principal-agent problems can be used to determine the properties of optimal tax systems. The book shows that such optimal tax systems necessarily involve asset income taxes, which may depend in sophisticated ways on current and past labor incomes. It also addresses the implications of this new approach for qualitative properties of optimal monetary policy, optimal government debt policy, and optimal bequest taxes. In addition, the book describes computational methods for approximate calculation of optimal taxes, and discusses possible paths for future research. |
Beschreibung: | 1 online resource (x, 217 pages) |
Bibliographie: | Includes bibliographical references and index. |
ISBN: | 9781400835270 1400835275 1282569279 9781282569270 |
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author | Kocherlakota, Narayana Rao, 1963- |
author_GND | http://id.loc.gov/authorities/names/no98069641 |
author_facet | Kocherlakota, Narayana Rao, 1963- |
author_role | |
author_sort | Kocherlakota, Narayana Rao, 1963- |
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callnumber-first | H - Social Science |
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callnumber-subject | HJ - Public Finance |
collection | ZDB-4-EBA |
contents | Preface. -- 1 Introduction. -- 2 The Ramsey Approach and Its Problems. -- 3 Basics of Dynamic Social Contracting. -- 4 Dynamic Optimal Taxation: Lessons for Macroeconomists. -- 5 Optimal Intergenerational Taxation. -- 6 Quantitative Analysis: Methods and Results. -- 7 The Way Forward. Index. |
ctrlnum | (OCoLC)649909867 |
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dewey-tens | 330 - Economics |
discipline | Wirtschaftswissenschaften |
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id | ZDB-4-EBA-ocn649909867 |
illustrated | Not Illustrated |
indexdate | 2024-11-27T13:17:22Z |
institution | BVB |
isbn | 9781400835270 1400835275 1282569279 9781282569270 |
language | English |
oclc_num | 649909867 |
open_access_boolean | |
owner | MAIN DE-863 DE-BY-FWS |
owner_facet | MAIN DE-863 DE-BY-FWS |
physical | 1 online resource (x, 217 pages) |
psigel | ZDB-4-EBA |
publishDate | 2010 |
publishDateSearch | 2010 |
publishDateSort | 2010 |
publisher | Princeton University Press, |
record_format | marc |
series | Toulouse lectures in economics. |
series2 | Toulouse lectures in economics |
spelling | Kocherlakota, Narayana Rao, 1963- https://id.oclc.org/worldcat/entity/E39PBJrgPfXVrFPXb7bmTwXTpP http://id.loc.gov/authorities/names/no98069641 The new dynamic public finance / Narayana R. Kocherlakota. Princeton : Princeton University Press, ©2010. 1 online resource (x, 217 pages) text txt rdacontent computer c rdamedia online resource cr rdacarrier Toulouse lectures in economics Includes bibliographical references and index. Print version record. Preface. -- 1 Introduction. -- 2 The Ramsey Approach and Its Problems. -- 3 Basics of Dynamic Social Contracting. -- 4 Dynamic Optimal Taxation: Lessons for Macroeconomists. -- 5 Optimal Intergenerational Taxation. -- 6 Quantitative Analysis: Methods and Results. -- 7 The Way Forward. Index. Optimal tax design attempts to resolve a well-known trade-off: namely, that high taxes are bad insofar as they discourage people from working, but good to the degree that, by redistributing wealth, they help insure people against productivity shocks. Until recently, however, economic research on this question either ignored people's uncertainty about their future productivities or imposed strong and unrealistic functional form restrictions on taxes. In response to these problems, the new dynamic public finance was developed to study the design of optimal taxes given only minimal restrictions on the set of possible tax instruments, and on the nature of shocks affecting people in the economy. In this book, Narayana Kocherlakota surveys and discusses this exciting new approach to public finance. An important book for advanced PhD courses in public finance and macroeconomics, The New Dynamic Public Finance provides a formal connection between the problem of dynamic optimal taxation and dynamic principal-agent contracting theory. This connection means that the properties of solutions to principal-agent problems can be used to determine the properties of optimal tax systems. The book shows that such optimal tax systems necessarily involve asset income taxes, which may depend in sophisticated ways on current and past labor incomes. It also addresses the implications of this new approach for qualitative properties of optimal monetary policy, optimal government debt policy, and optimal bequest taxes. In addition, the book describes computational methods for approximate calculation of optimal taxes, and discusses possible paths for future research. Fiscal policy Mathematical models. Taxation Mathematical models. Finance, Public Mathematical models. Politique fiscale Modèles mathématiques. Impôt Modèles mathématiques. Finances publiques Modèles mathématiques. BUSINESS & ECONOMICS Public Finance. bisacsh BUSINESS & ECONOMICS Taxation General. bisacsh Finance, Public Mathematical models fast Fiscal policy Mathematical models fast Taxation Mathematical models fast has work: The new dynamic public finance (Text) https://id.oclc.org/worldcat/entity/E39PCGmjqVFkytmBkWwWFkydjP https://id.oclc.org/worldcat/ontology/hasWork Print version: Kocherlakota, Narayana Rao, 1963- New dynamic public finance. Princeton : Princeton University Press, ©2010 (DLC) 2009052297 Toulouse lectures in economics. http://id.loc.gov/authorities/names/n2003113910 FWS01 ZDB-4-EBA FWS_PDA_EBA https://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&AN=321413 Volltext |
spellingShingle | Kocherlakota, Narayana Rao, 1963- The new dynamic public finance / Toulouse lectures in economics. Preface. -- 1 Introduction. -- 2 The Ramsey Approach and Its Problems. -- 3 Basics of Dynamic Social Contracting. -- 4 Dynamic Optimal Taxation: Lessons for Macroeconomists. -- 5 Optimal Intergenerational Taxation. -- 6 Quantitative Analysis: Methods and Results. -- 7 The Way Forward. Index. Fiscal policy Mathematical models. Taxation Mathematical models. Finance, Public Mathematical models. Politique fiscale Modèles mathématiques. Impôt Modèles mathématiques. Finances publiques Modèles mathématiques. BUSINESS & ECONOMICS Public Finance. bisacsh BUSINESS & ECONOMICS Taxation General. bisacsh Finance, Public Mathematical models fast Fiscal policy Mathematical models fast Taxation Mathematical models fast |
title | The new dynamic public finance / |
title_auth | The new dynamic public finance / |
title_exact_search | The new dynamic public finance / |
title_full | The new dynamic public finance / Narayana R. Kocherlakota. |
title_fullStr | The new dynamic public finance / Narayana R. Kocherlakota. |
title_full_unstemmed | The new dynamic public finance / Narayana R. Kocherlakota. |
title_short | The new dynamic public finance / |
title_sort | new dynamic public finance |
topic | Fiscal policy Mathematical models. Taxation Mathematical models. Finance, Public Mathematical models. Politique fiscale Modèles mathématiques. Impôt Modèles mathématiques. Finances publiques Modèles mathématiques. BUSINESS & ECONOMICS Public Finance. bisacsh BUSINESS & ECONOMICS Taxation General. bisacsh Finance, Public Mathematical models fast Fiscal policy Mathematical models fast Taxation Mathematical models fast |
topic_facet | Fiscal policy Mathematical models. Taxation Mathematical models. Finance, Public Mathematical models. Politique fiscale Modèles mathématiques. Impôt Modèles mathématiques. Finances publiques Modèles mathématiques. BUSINESS & ECONOMICS Public Finance. BUSINESS & ECONOMICS Taxation General. Finance, Public Mathematical models Fiscal policy Mathematical models Taxation Mathematical models |
url | https://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&AN=321413 |
work_keys_str_mv | AT kocherlakotanarayanarao thenewdynamicpublicfinance AT kocherlakotanarayanarao newdynamicpublicfinance |