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State-variable publ...
State-variable public goods when relative consumption matters : a dynamic optimal taxation approach
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- Aronsson, Thomas, 1963- (author)
- Umeå universitet,Institutionen för nationalekonomi
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Johansson-Stenman, Olof, 1963- (author)
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(creator_code:org_t)
- 2011
- English 44 s.
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Series: Umeå economic studies, 0348-1018 ; 828
- Related links:
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http://www.econ.umu....
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Abstract
Subject headings
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- This paper concerns the optimal provision of a state-variable public good, where the global climate is the prime example. The analysis is based on a two-type optimal income tax model with overlapping generations, where people care about their relative consumption. We consider both keeping-up-with-the-Joneses preferences (where people compare their own current consumption with others’ current consumption) and catching-up-with-the-Joneses preferences (where people compare their own current consumption with others’ past consumption). The extent to which the rule for public provision ought to be modified is shown to depend crucially on the preference elicitation format.
Subject headings
- SAMHÄLLSVETENSKAP -- Ekonomi och näringsliv -- Nationalekonomi (hsv//swe)
- SOCIAL SCIENCES -- Economics and Business -- Economics (hsv//eng)
Keyword
- State variable public goods
- asymmetric information
- relative consumption
- status
- positional preferences
- climate policy
- Economics
- Nationalekonomi
- Economics
- nationalekonomi
Publication and Content Type
- vet (subject category)
- rap (subject category)
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