Effects of the taxation on inheritance in a microfounded model of growth and post-Keynesian distribution with overlapping generations and life cycle

Renato Nozaki Sugahara, Edilean da Silva Bejarano Aragón (), Marina Da Cunha () and Claudia Perdigão
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Renato Nozaki Sugahara: m Paraná State University at Maringá - PCE/UEM, Brazil
Claudia Perdigão: Federal University of Paraiba - UFPB, Brazil

Economia, 2016, vol. 17, issue 3, 340_350

Abstract: This paper extends the model of overlapping generations with heterogeneous agents, allowing both classes (capitalist and worker) to hold a positive intergenerational capital stock. The main results were: (i) equilibrium interest rates that maximize the consumption and savings plans of working and capitalist classes were positively affected by taxation; (ii) an increase in taxation and therefore, in transfers to the working class raises the participation of intergenerational inheritance of this class in the total capital stock; (iii) the taxation affects the distribution of wealth between the classes because it increases the participation of the working class in the total capital stock of the economy

Keywords: Intertemporal consumption; Post-Keynesian; Government transfers (search for similar items in EconPapers)
JEL-codes: D91 E12 E60 (search for similar items in EconPapers)
Date: 2016
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