Please use this identifier to cite or link to this item: http://hdl.handle.net/1893/22138
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dc.contributor.authorAngelopoulos, Konstantinosen_UK
dc.contributor.authorAsimakopoulos, Stylianosen_UK
dc.contributor.authorMalley, James Ren_UK
dc.date.accessioned2015-08-20T23:36:03Z-
dc.date.available2015-08-20T23:36:03Zen_UK
dc.date.issued2015-02en_UK
dc.identifier.urihttp://hdl.handle.net/1893/22138-
dc.description.abstractThis paper undertakes a normative investigation of the quantitative properties of optimal tax smoothing in a business cycle model with state contingent debt, capital-skill complementarity and endogenous skill acquisition under technology and public expenditure shocks. We find that skilled and unskilled labour tax smoothing maintain quantitatively under externalities and exogenous shocks in skill acquisition, as well as when the relative skill supply is exogenously determined. We further find that the government finds it optimal to reduce both the size of the wedge between the marginal rates of substitution and transformation in skill attainment in the long-run and the standard deviation of this wedge over the business cycle. This is achieved by subsidising skill creation and taxing both types of labour income.en_UK
dc.language.isoenen_UK
dc.publisherElsevieren_UK
dc.relationAngelopoulos K, Asimakopoulos S & Malley JR (2015) Tax smoothing in a business cycle model with capital-skill complementarity. Journal of Economic Dynamics and Control, 51, pp. 420-444. https://doi.org/10.1016/j.jedc.2014.11.002.en_UK
dc.rightsThis article is available under the terms of the Creative Commons Attribution License (CC BY). You may distribute and copy the article, create extracts, abstracts, and other revised versions, adaptations or derivative works of or from an article (such as a translation), to include in a collective work (such as an anthology), to text or data mine the article, including for commercial purposes without permission from Elsevier. The original work must always be appropriately credited.en_UK
dc.subjectSkill premiumen_UK
dc.subjectTax smoothingen_UK
dc.subjectOptimal fiscal policyen_UK
dc.titleTax smoothing in a business cycle model with capital-skill complementarityen_UK
dc.typeJournal Articleen_UK
dc.identifier.doi10.1016/j.jedc.2014.11.002en_UK
dc.citation.jtitleJournal of Economic Dynamics and Controlen_UK
dc.citation.issn0165-1889en_UK
dc.citation.volume51en_UK
dc.citation.spage420en_UK
dc.citation.epage444en_UK
dc.citation.publicationstatusPublisheden_UK
dc.citation.peerreviewedRefereeden_UK
dc.type.statusVoR - Version of Recorden_UK
dc.citation.date12/11/2014en_UK
dc.contributor.affiliationUniversity of Glasgowen_UK
dc.contributor.affiliationEconomicsen_UK
dc.contributor.affiliationUniversity of Glasgowen_UK
dc.identifier.isi000349576900023en_UK
dc.identifier.scopusid2-s2.0-84920262196en_UK
dc.identifier.wtid592959en_UK
dc.date.accepted2014-11-04en_UK
dc.date.firstcompliantdepositdate2015-08-20en_UK
dc.description.refREF Compliant by Deposit in Stirling's Repositoryen_UK
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