On the Equivalence between Labor and Consumption Taxation

Paolo Panteghini

Working Papers from University of Brescia, Department of Economics

Abstract: This article studies the equivalence between labor and consumption taxes in a stochastic context, where the government can undertake an active portfolio management strategy by investing in both risk-free and risky assets. Using a two-period model we show that such taxes let consumers make the same decisions, and can finance the same amount of government spending in each period.

Date: 2009
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Related works:
Journal Article: On the equivalence between labor and consumption taxation (2009)
Working Paper: On the Equivalence between Labor and Consumption Taxation (2009)
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