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Política fiscal óptima: el estado de la cuestión

Manzano, Baltasar and Ruiz Andújar, Jesús (2002) Política fiscal óptima: el estado de la cuestión. [Working Paper or Technical Report]

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Abstract

En este trabajo se presenta el estado actual de conocimiento del problema de la política fiscal óptima, así como hacia dónde se dirigen las líneas de investigación en este área. En particular se describen los principales resultados derivados de cómo un gobierno debe ejecutar la política fiscal óptima en una gran variedad de contextos: desde un
marco estático hasta un marco dinámico tanto determinista como estocástico, y desde modelos con agente representativo hasta modelos de generaciones solapadas. Destacamos que los resultados no son muy dispares entre los diferentes tipos de contextos y modelos, para una estructura de preferencias comúnmente utilizada. En general,
resultados como que el impuesto sobre las rentas de capital debe ser nulo a largo plazo, aunque inicialmente deben ser gravadas a tasas confiscatorias, y que los tipos impositivos sobre la renta del trabajo y sobre el consumo deben
ser uniformes, son habituales en muy diferentes contextos. Sin embargo, han surgido nuevas líneas de investigación que tratan de, por un lado, obtener resultados que puedan llevarse a la práctica real, y, por otro, modelizaciones que eviten el problema de la inconsistencia temporal o el de la indeterminación de la política fiscal en contextos con incertidumbre.

ABSTRACT:
This paper presents the state of art in optimal fiscal policy, focusing on the more promising research lines in this topic. In particular, we show the main results on how the government must implement optimal fiscal policy in different frameworks: from static to dynamic stochastic settings and, from infinite horizon to overlapping generations models. For a commonly used structure of preferences (time separable and homothetic), results are not very different among the several settings. In general, results such as the optimal zero tax rate on capital income (but
with high initial tax rates) and the optimality of the uniform taxation on labor income and consumption, are usual in different frameworks. However, new research lines have arisen, trying to obtain results empirically more plausible, with model specifications that avoid time inconsistency and the indeterminacy of the state-contingent optimal fiscal policy.

Item Type:Working Paper or Technical Report
Uncontrolled Keywords:Política fiscal, Modelos con agente representativo, Modelos de generaciones solapadas, Tipos impositivos sobre la renta del trabajo y sobre el consumo
Subjects:Social sciences > Economics > Public finance
Series Name:Documentos de trabajo del Instituto Complutense de Análisis Económico (ICAE)
Volume:2002
Number:0212
ID Code:7669
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Deposited On:10 Mar 2008
Last Modified:06 Feb 2014 07:55

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