The Efficiency Gains from Dynamic Tax Reform
提出一种新模拟方法，评估在生命周期经济一般均衡增长路径上从比例所得税转向消费税或劳动所得税的纯效率收益。转向消费税带来近2%终身资源的福利收益，而转向工资税则造成超过2%的损失。
This paper presents a new simulation methodology for determining the pure efficiency gains from tax reform along the general equilibrium rational expectations growth path of life cycle economies.The principal findings concern the effects of switching from a proportional income tax with rates similar to those in the U.S. to either a proportional tax on consumption or a proportional tax on labor income.A switch to consumption taxation generates a sustainable welfare gain of almost 2 percent of lifetime resources.In contrast, a transition to wage taxation generates a loss of greater than 2 percent of lifetime resources.A second general result is that even a mild degree of progressivity in the income tax system imposes a very large efficiency cost.