Positive Long Run Capital Taxation: Chamley-Judd Revisited
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According to the Chamley-Judd result, capital should not be taxed in the long run. In this paper, we overturn this conclusion, showing that it does not follow from the very models used to derive them. For the model in Judd (1985), we prove that the long run tax on capital is positive and significant
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美国国家经济研究局创建时间：
2014-08-01
