영문목차
List of Figures=xi
List of Tables=xii
1. Setting the Stage for the Debate=1
1.1. Introduction=1
1.2. Defining the tax base=4
1.3. General principles of taxation=9
1.4. Efficiency=12
1.5. Equity=18
1.6. The cashflow consumption tax versus the prepayment method=20
1.7. Plan for the book=22
Notes=28
2. The Early Literature=31
2.1. Early advocates=31
2.2. Feldstein's "Welfare Cost" paper=34
2.3. A formal analysis=36
2.4. Tax incidence in an overlapping generations model=42
2.5. The savings elasticity controversy=46
2.6. Conclusion=53
Appendix 2A: Comparative statics=54
Appendix 2B: Stability=55
Appendix 2C: Uniqueness=55
Notes=56
3. A First Look at the Optimal Taxation of Labor and Capital=58
3.1. Introduction=58
3.2. Basic principles of optimal tax theory=59
3.3. Optimal taxation in the overlapping generations model=62
3.4. Further results on the welfare cost of capital taxation=71
3.5. Empirical results on savings, consumption, and labor supply=73
3.6. Simulation models=82
3.7. Conclusion=87
Notes=88
4. Taxation and Economic Growth=91
4.1. Introduction=91
4.2. The optimal tax methodology of the primal problem=95
4.3. Optimal taxation in the Ramsey growth model: the zero tax result=97
4.4. An extension of the model: untaxed factors=102
4.5. Results from the endogenous growth model=103
4.6. Caveats=107
4.7. Conclusion=112
Notes=113
5. International Taxation of Capital=114
5.1. Introduction=114
5.2. Some basic principles of direct taxation=117
5.3. Taxing mobile capital=121
5.4. Principles of optimal taxation when capital is mobile=127
5.5. Policy coordination=134
5.6. Is capital internationally mobile?=136
5.7. Discussion=138
5.8. Conclusion=140
Notes=140
6. Taxation and the Time Consistency Problem=142
6.1. Introduction=142
6.2. Recursive decisionmaking and policy games=146
6.3. The capital levy problem=151
6.4. Capital income tax evasion=154
6.5. Equity concerns=159
6.6. Conclusion=163
Appendix 6A: The open loop policy game=165
Appendix 6B: The closed loop policy game=166
Notes=167
7. Taxation and Privately Produced Public Goods=169
7.1. Introduction=169
7.2. A model of charity=172
7.3. A model of a privately produced public good=176
7.4. Volunteer labor=179
7.5. The Ramsey growth model with a privately produced public good=182
7.6. The reconstruction of the public's finances=184
7.7. Using the consumption tax for fiscal reconstruction=189
7.8. Conclusion=190
Appendix 7A: The privately produced public goods model with labor supply=191
Notes=193
8. The Environment and Tax Policy=194
8.1. Introduction=194
8.2. An overlapping generations model of a renewable resource=198
8.3. The effects of taxation=202
8.4. A Ramsey growth model with environmental externalities=205
8.5. The main results of the Ramsey pollution externalities model=207
8.6. Private actions to clean up the environment=210
8.7. Clean consumption and dirty consumption=211
8.8. Conclusion=214
Notes=216
9. Durable Goods and Taxation=217
9.1. Introduction=217
9.2. A model with land=220
9.3. Durable goods=225
9.4. The land model with maintenance=231
9.5. The Ramsey growth model with durable goods=233
9.6. Tax prepayment=237
9.7. Conclusion=238
Notes=239
10. Income and Consumption Taxation in a Monetary Economy=240
10.1. Introduction=240
10.2. Money in the Ramsey growth model=242
10.3. The overlapping generations model=247
10.4. Models of legal restrictions=255
10.5. Discussion=262
10.6. Tax prepayment=263
10.7. Conclusion=264
Appendix 10A: The cash and credit goods model=265
Appendix 10B: The money in the utility function in the OG model=266
Notes=267
11. Consumption Taxation in the Presence of Bequests=269
11.1. Introduction=269
11.2. One-period models of bequests=271
11.3. Empirical evidence on bequeathing=273
11.4. Two-period models of bequeathing in the presence of the consumption tax=278
11.5. The differential incidence of a non-neutral consumption tax=282
11.6. International spillover effects from consumption taxation=286
11.7. Extensions=288
11.8. Conclusion=294
Appendix 11A: Comparative statics under altruism=295
Appendix 11B: Bequests in the OG model=296
Notes=297
12. Conclusion=299
12.1. Economic effects of consumption taxes=299
12.2. Optimality of taxing consumption and capital=300
12.3. International considerations and monitoring problem=301
12.4. Taxing consumption in complicated environments=302
References=305
Author Index=319
Subject Index=322