Pareto-improving tax policies under hyperbolic discounting
This paper investigates the welfare implications of tax policies in the economy with present-biased consumers. We show that consumption taxes, income subsidies, or capital subsidies can improve not only hyperbolically discounted intertemporal utilities, but also exponentially discounted commitment u...
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| Format: | Article |
| Language: | English |
| Published: |
2021
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| Online Access: | https://hdl.handle.net/10356/151368 |
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| Institution: | Nanyang Technological University |
| Language: | English |