Tax Efficiency in an Open Economy

This note assesses the relative efficiency of different tax bases in an open economy. If terms of trade effects are large, lump-sum taxation may be inferior to distortionary consumption or wage taxes. This result is demonstrated analytically using a simple neoclassical model. An overlapping generations, general equilibrium, simulation model is then employed to show the empirical significance of the effects involved.
Publication date: October 1990
ISBN: 9781451950663
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Economics- Macroeconomics , International - Economics , taxation , terms of trade , open economy , tax bases , budget constraint

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