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Kajii, Atsushi

Works: 1 works in 1 publications in 0 languages and 3 library holdings
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Publications about Atsushi Kajii
Publications by Atsushi Kajii
Most widely held works by Atsushi Kajii
Optimal taxation and constrained inefficiency in an infinite-horizon economy with incomplete markets by Piero Gottardi( Book )
1 edition published in 2011 in Undetermined and held by 3 libraries worldwide
We study the dynamic Ramsey problem of finding optimal public debt and linear taxes on capital and labor income within a tractable infinite horizon model with incomplete markets. With zero public expenditure and debt, it is optimal to tax the risky labor income and subsidize capital, while a positive amount of public debt is welfare improving. A steady state optimality condition is derived which implies that the tax on capital is positive, when savings are sufficiently inelastic to returns. A calibration of our model to the US economy indicates positive optimal taxes and a small but positive optimal debt level
Alternative Names
Kajii, A.
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