Multiple equilibria in Lucas (1990)'s optimal capital taxation model with endogenous learning

Fanghui Li and Gaowang Wang

MPRA Paper from University Library of Munich, Germany

Abstract: In the paper we solve the general case of the Lucas (1990) optimal capital taxation model with endogenous growth driven by endogenous learning. We prove Lucas (1990)'s conjecture on zero limiting capital tax and display the possibility of multiple equilibria (i.e., multiple BGPs) in the model.

Keywords: Multiple Equilibria; Capital Income Tax; Endogenous Growth; Endogenous Learning (search for similar items in EconPapers)
JEL-codes: E62 H21 (search for similar items in EconPapers)
Date: 2019-09-10
New Economics Papers: this item is included in nep-acc, nep-mac, nep-ore, nep-pbe and nep-pub
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:96005

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