English, Article edition: Optimal Capital Taxation and Labor Market Search David Domeij

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  • article
Language
  • English

Edition details

Title
  • Optimal Capital Taxation and Labor Market Search
Author
  • David Domeij
Physical Description
  • article
Notes
  • In this paper I study the nature of optimal factor income taxation in a neoclassical growth model where search frictions on the labor marker generate unemployment. I show that the introduction of search frictions changes the Chamley-Judd result of zero capital taxation as follows: if the government is constrained to capital and labor taxation, the optimal capital tax is in general non-zero, but if the government has access to other tax instruments the Chamley.Judd result survives. Quantitatively, the optimal capital tax is small, in the range of -8 to 8 percent. The welfare costs of being constrained can, however, be quite large. (Copyright: Elsevier)
  • Optimal taxation, Search externalities
  • RePEc:red:issued:v:8:y:2005:i:3:p:623-650
Language
  • English
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