02475oam 22004573a 450 991070292640332120230622022748.0(NBER)w9492(CKB)3240000000018624(OCoLC)707619628(EXLCZ)99324000000001862420230622d2003 fy 0engurcnu||||||||txtrdacontentcrdamediacrrdacarrierConsumption Taxes and Economic Efficiency in a Stochastic OLG Economy /Shinichi Nishiyama, Kent SmettersCambridge, MassNational Bureau of Economic Research2003Washington, DC :Congressional Budget Office,[2002]1 online resourceillustrations (black and white);NBER working paper seriesno. w9492February 2003.Includes bibliographical references (pages 41-43).Fundamental tax reform is examined in a heterogeneous overlapping-generations (OLG) model in which agents face idiosyncratic earnings shocks and uncertain life spans. Following Auerbach and Kotlikoff (1987), a Lump-Sum Redistribution Authority is used to rigorously examine efficiency gains over the transition path. A progressive income tax is replaced with a flat consumption tax (for example, a value-added tax or a national retail sales tax). If shocks are insurable (that is, no risk), this reform improves (interim) efficiency, a result consistent with the previous literature. But if, more realistically, shocks are uninsurable, this reform reduces efficiency, even though national wealth and output increase over the entire transition path. This efficiency loss, in large part, stems from reduced intragenerational risk sharing that was previously provided by the progressive tax systemWorking Paper Series (National Bureau of Economic Research)no. w9492.GeneraljelcTaxation, Subsidies, and RevenuejelcGeneralTaxation, Subsidies, and RevenueH0jelcH2jelcNishiyama Shinichi1363569Smetters Kent292064National Bureau of Economic Research.MaCbNBERMaCbNBERBOOK9910702926403321Consumption Taxes and Economic Efficiency in a Stochastic OLG Economy3384322UNINA01433nas a2200325 i 450099100278504970753620231114120609.0011205m19149999 || | |spa 0556-5871b11707501-39ule_instPERLE007378ExLCDU 806.0CDU 860Revista de filología espanolaRevista de filología espanola /Junta para Ampliación de Estudios e Investigaciones Científicas. Centro de Estudios Históricos. - 1914-Madrid,1914-Non pubblicato dal 1938 al 1940.Codice CNR: P 00058121LE002 1987- LE012 1968-1999;Junta para Ampliación de Estudios e Investigaciones Científicas :Centro de Estudios Históricos.b1170750102-04-1408-07-02991002785049707536LE002 SP 4001le002-E0.00-no 180000.i1194204608-07-02LE002a. 2004 1LE002-40647N le002-E30.00-no 180000.i1396447115-12-04a. 2005 1le002-E30.00-no 180000.i1417111920-12-05LE0121le012-E0.00-no 180000.i1194205808-07-02Revista de filología espanola1746481UNISALENTO(3)le002le01201-01-01sa -spaxx 04