Investment in Education and the Time Inconsistency of Redistributive Tax Policy
Robin Boadway (),
Nicolas Marceau () and
No 860, Working Paper from Economics Department, Queen's University
Time inconsistency of tax policy is shown to arise in a setting in which households differ in their ability to accumulate wealth and the government has redistributional objectives. The government can levy non-distorting taxes but is precluded from redistributing optimally by a self-selection constraint. The analysis is done for the case in which all wealth is human capital, and education is a private good. An argument can be made for public intervention in the provision of education.
Pages: 26 pages
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http://qed.econ.queensu.ca/working_papers/papers/qed_wp_860.pdf First version 1992 (application/pdf)
Working Paper: Investment in education and the time inconsistency of redistributive tax policy (1996)
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Persistent link: https://EconPapers.repec.org/RePEc:qed:wpaper:860
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