FRB: Equilibrium in a Production Economy with an Income Tax

International Finance Discussion Papers

Equilibrium in a Production Economy with an Income Tax
Wilbur John Coleman
1989-366 (November 1989)

Abstract: A state-dependent income tax is incorporated into an intertemporal production economy. Methods are developed for establishing the existence and uniqueness of an equilibrium, and for explicitly constructing this equilibrium. Some tax-policy experiments are suggested, the results of which may have important implications in quantifying the effects of various tax policies.

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