Impacto de una reforma fiscal sobre el bienestar económico en un ambiente de incertidumbre

Impact of Tax Reform on Economic Welfare in an Uncertainty Environment

Francisco Venegas-Martínez, Abigail Rodríguez-Nava and Alfredo Omar Palafox-Roca
Authors registered in the RePEc Author Service: Abigail Rodríguez Nava

MPRA Paper from University Library of Munich, Germany

Abstract: This research is aimed at examining the impact of tax reform on economic welfare in an environment of uncertainty in a small open economy with a regime of flexible exchange rate. It is assumed that the economy is populated by identical rational risk-averse individuals. Unlike the typical assumption of infinitely-lived agents, it is assumed in this paper that with some (positive) probability agents are living in a given finite time. It also assumed that individuals are subject to tax rates on wealth, income and consumption. The distinctive feature of the proposed model is that macroeconomic fundamentals have a random dynamics that is modeled with diffusion processes or diffusion processes combined with Poisson jump processes.

Keywords: Fiscal policy; tax reform; income tax; consumption tax; stochastic modeling. (search for similar items in EconPapers)
JEL-codes: E62 (search for similar items in EconPapers)
Date: 2014-07-04
New Economics Papers: this item is included in nep-mac
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Related works:
Chapter: Impacto de una reforma fiscal sobre el bienestar económico en un ambiente de incertidumbre (2015)
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:57108

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