Taxes and money in incomplete financial markets

Elena del Mercato and Antonio Villanacci

Post-Print from HAL

Abstract: We analyze a model with incomplete financial markets, where money is needed to pay taxes. Equilibria exist, are typically regular and not Pareto optimal. Moreover, generically, there exists a redistribution of money among households which leads to a Pareto superior equilibrium. The intervention occurs only in the first period and it does not require either closing markets or upper bounds on the number of households.

Keywords: Incomplete financial markets; taxes and money; Pareto improving interventions (search for similar items in EconPapers)
Date: 2006-05
References: Add references at CitEc
Citations: View citations in EconPapers (1)

Published in Decisions in Economics and Finance, 2006, 29 (1), pp.23-54. ⟨10.1007/s10203-006-0058-0⟩

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
Journal Article: Taxes and money in incomplete financial markets (2006)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:halshs-00355427

DOI: 10.1007/s10203-006-0058-0

Access Statistics for this paper

More papers in Post-Print from HAL
Bibliographic data for series maintained by CCSD ().