Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/26638
Authors: 
Panteghini, Paolo M.
Year of Publication: 
2009
Series/Report no.: 
CESifo working paper 2593
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.
Subjects: 
Consumption and labor taxation
equivalence
risk
JEL: 
H24
Document Type: 
Working Paper

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