Tax policy with uncertain future costs: Some simple models

Christopher Ball and John Creedy

New Zealand Economic Papers, 2014, vol. 48, issue 2, 240-253

Abstract: This paper considers the extent to which the standard argument, that the disproportionate excess burden of taxation suggests the use of tax smoothing in the face of future cost increases, is modified by uncertainty regarding the future. The role of uncertainty and risk aversion is examined using several highly simplified models involving a possible future contingency requiring an increase in tax-financed expenditure.

Date: 2014
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DOI: 10.1080/00779954.2013.874401

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