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2 edition of Tax and education policy in a heterogeneous agent economy found in the catalog.

Tax and education policy in a heterogeneous agent economy

Roland Benabou

Tax and education policy in a heterogeneous agent economy

what levels of redistribution maximize growth and efficiency?

by Roland Benabou

  • 312 Want to read
  • 1 Currently reading

Published by National Bureau of Economic Research in Cambridge, MA .
Written in English

    Subjects:
  • Income distribution -- United States -- Econometric models.,
  • Education -- Finance -- Econometric models.

  • Edition Notes

    StatementRoland Bénabou.
    SeriesNBER working paper series -- working paper 7132, Working paper series (National Bureau of Economic Research) -- working paper no. 7132.
    ContributionsNational Bureau of Economic Research.
    The Physical Object
    Pagination44, [14] p. :
    Number of Pages44
    ID Numbers
    Open LibraryOL22398866M

    Economics with Heterogeneous Interacting Agents: A Practical Guide to Agent-Based Modeling (New Economic Windows) - Kindle edition by Caiani, Alessandro, Russo, Alberto, Palestrini, Antonio, Gallegati, Mauro. Download it once and read it on your Kindle device, PC, phones or tablets. Use features like bookmarks, note taking and highlighting while reading Economics with Heterogeneous Manufacturer: Springer. Downloadable (with restrictions)! Economic agents differ from physical atoms because of the learning capability and memory, which lead to strategic behaviour. Economic agents learn how to interact and behave by modifying their behaviour when the economic environment changes. We show that business fluctuations are endogenously generated by the interaction of learning agents .

    Representative vs. heterogenous agents. An economic model in which all agents of a given type (such as all consumers, or all firms) are assumed to be exactly identical is called a representative agent model. A model which recognizes differences among agents is called a heterogeneous agent model. Economists often use representative agent models when they want to describe the economy . We model an economy of K heterogeneous regions where agents value consumption vs. nature differently. Consumption obtained through pollution-inducing production also generates a negative externality on neighbors. We show that even with a decentralized policy we can obtain first-best efficiency by choosing a combination of pollution taxes in both regions and lump-sum : Marcelo Arbex, Stefan Behringer, Christian Trudeau.

    A complete introduction to economics and the economy taught in undergraduate economics and masters courses in public policy. CORE’s approach to teaching economics is student-centred and motivated by real-world problems and real-world data. ECONOMIC RESEARCH REPORTS C.V. STARR CENTER FOR APPLIED ECONOMICS NEW YORK UNIVERSITY FACULTY OF ARTS AND SCIENCE DEPARTMENT OF ECONOMICS WASHINGTON SQUARE NEW YORK, NY Tax and Education Policy in a Heterogeneous Agent Economy: What Levels of Redistribution Maximize Growth and .


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Tax and education policy in a heterogeneous agent economy by Roland Benabou Download PDF EPUB FB2

Timal government policies in models with heterogeneous agents. We illustrate it on a steady state Ramsey problem with heterogeneous agents, finding the optimal tax schedule. JEL Keywords: Optimal macroeconomic policy, optimal taxation, computational techniques, heterogeneous agents, distribution of wealth and income.

Abstract This paper studies the effects of progressive income taxes and education finance in a dynamic heterogeneous‐agent economy. Such redistributive policies entail distortions to labor supply and savings, but also serve as partial substitutes for missing credit and insurance by: settings, agents are heterogeneous, taxes are restricted by agents’ ability to pay, and the government chooses taxes to maximize a weighted average of lifetime utilities of agents.

Werning () obtained counterparts to our results about net versus gross as-set positions in a complete markets economy with heterogeneous agents, an a ne. Tax and Education Policy in a Heterogeneous Agent Economy: What Levels of Redistribution Maximize Growth and Efficiency.

Roland Bénabou NBER Working Paper No. May JELNo. D31,E62, D63 ABSTRACT This paper studies the effects of progressive income taxes and education finance in a dynamic heterogeneous agent by: Tax Policy and Heterogeneous Investment Behavior so the economic incentive created by bonus works because future deductions are worth less than current deductions.

That conclude that tax policy has a strong effect on investment. Using similar data. NBER Program(s):Economic Fluctuations and Growth, Public Economics This paper studies the effects of progressive income taxes and education finance in a dynamic heterogeneous agent economy.

Such redistributive policies entail distortions to labor supply and savings, but also serve as partial substitutes for missing credit and insurance markets.

Abstract This paper studies the effects of progressive income taxes and education finance in a dynamic heterogeneous-agent economy. Such redistributive policies entail distortions to labor supply and savings, but also serve as partial substitutes for missing credit and insurance markets.

taxes. Different groups of agents in the economy have different preferences over these policies, and the goal of this paper is to study how these differences are resolved.

On the normative side, I am interested in studying the characteristics of second-best tax policies, which will trace a (second-best) Pareto frontier.

The only source of aggregate uncertainty in the model is the stochastic process for the economy-wide tax rate. This means that (given z 0) the aggregate state of the economy at t can be described by the history of the tax rate from date 0 up to and including date t.I call this object the aggregate history to date t, and denote it h τ s (h t) denote the s-th element of Cited by: Tax and Education Policy in a Heterogeneous Agent Economy What Levels of Redistribution Maximize Growth and Efficiency.

Abstract This paper studies the effects of progressive income taxes and education finance in a dynamic heterogeneous-agent economy. Such redistributive policies entail. Roland Benabou, "Tax and Education Policy in a Heterogeneous-Agent Economy: What Levels of Redistribution Maximize Growth and Efficiency?," Econometrica, Econometric Society, vol.

70(2), pagesby: "Introduction to Agent-Based Economics is an excellent introduction to agent-based computational economics. A must-read for every student and scholar who wants to get started in the field." --Philipp Harting, Bielefeld University "The book takes a fascinating view on an economy as an adaptive complex system.

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Econometrica,Vol,No.2(March,),– TAXANDEDUCATIONPOLICYINAHETEROGENEOUS-AGENT ECONOMY:WHATLEVELSOFREDISTRIBUTIONMAXIMIZE GROWTHANDEFFICIENCY. Unlike the representative-agent infinite-horizon model, the heterogeneous-agent OLG model (1) accommodates the life-cycle properties that are important for determining labor supply and savings choices, (2) allows for intra-generational heterogeneity in households, which is necessary for analyzing the impact of policy changes on the income and Cited by: Accordingly, “Economics with Heterogeneous Interacting Agents” will be of particular interest to graduate and postgraduate students, as well as to academic institutions and lecturers interested in including an overview of the AB approach to economic modeling in their : Paperback.

Tax and Education Policy in a Heterogeneous-Agent Economy: What Levels of Redistribution Maximize Growth and Efficiency. Publication Type: Journal Article: Year of Publication: Authors: Bénabou R: Journal: Econometrica: Volume: Pagination: – number of agents to derive additional results.

Shin () studies a two-agent economy, where the government can issue public debt and distorting taxes on labor. Recently, Bhandari, Evans, Golosov, and Sargent () consider an environment without capital with a finite number of agents facing uncorrelated risk and incomplete insurance-markets.

TAX AND EDUCATION POLICY IN A HETEROGENEOUS-AGENT ECONOMY: WHAT LEVELS OF REDISTRIBUTION MAXIMIZE GROWTH AND EFFICIENCY. Autores: Roland Bénabou Localización: Econométrica: Journal of the Econometric Society, ISSNVol. 70, Nº 2,págs. Idioma: inglés. This paper studies the effects of progressive income taxes and education finance in a dynamic heterogeneous agent economy.

Such redistributive policies entail distortions to labor supply and savings, but also serve as partial substitutes for missing credit and insurance markets.Analyzing Fiscal Policies in a Heterogeneous-Agent Overlapping-Generations Economy Article in Handbook of Computational Economics 3 April with Reads How we measure 'reads'.Get this from a library!

Tax and education policy in a heterogeneous agent economy: what levels of redistribution maximize growth and efficiency?. [Roland Bénabou; National Bureau of Economic Research.].