Tax smoothing with immigration in an overlapping generations economy

Armando R. Lopez-Velasco

Applied Economics Letters, 2019, vol. 26, issue 6, 460-464

Abstract: Immigration policy in an overlapping generations economy is politically determined in response to government spending shocks, where the government finances its spending with proportional income taxes and is subject to a balanced budget. The young cohort is always the majority and dictates policy. The equilibrium Markovian strategy allows immigrants when the spending shock is above some threshold and this implies a particular form of tax smoothing.

Date: 2019
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DOI: 10.1080/13504851.2018.1486975

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