| Título: | Three Theorems on Inflation Taxes and Marginal Employment Subsidies |
| Autores: | Oswald, Andrew |
| Fecha: |
2011-10-26 2011-10-26 1983-09-01 |
| Publicador: | Universidad de Princenton |
| Fuente: |
 |
| Tipo: | Working Paper |
| Tema: | |
| Descripción: | The paper studies the microeconomic theory of inflation taxes and marginal employment subsidies. It proves that under very weak assump- tions (i) an inflation tax will reduce the 1ong—run equilibrium wage or price and (ii) that a marginal employment subsidy will raise the long- run equilibrium employment level. The theorems, which show the policies’ formal similarities, are illustrated with examples. One caveat is also raised: in a competitive industry (rather than a single firm), with free entry and exit, a marginal employment subsidy might reduce the total number of jobs. The paper also proves (iii) that in special circumstances a tax on inflation is exactly equivalent to a marginal employment subsidy. |
| Idioma: | No aplica |
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