Optimal consumption taxation in a model of endogenous growth with external habit formation |
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| Affiliation: | 1. European University Institute, Florence, Italy;2. Institute for International Economic Studies (IIES), Stockholm University, 10691 Stockholm, Sweden;3. CESifo, Munich, Germany;4. Bocconi University and IGIER, Italy;5. IFS, United Kingdom;6. CEPR, United Kingdom;1. Department of Economics, Korea University, Seoul, Republic of Korea;2. Department of Economics, Sungkyunkwan University, Seoul, Republic of Korea |
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| Abstract: | This paper devises a consumption tax policy that allows to decentralize the efficient equilibrium in an AK endogenous growth model with external habit formation. The equilibrium dynamics, including that of the optimal taxes, is characterized by means of phase-diagram analysis. |
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