We study the effects of factor income taxation on the dynamics of equilibrium paths. When net of taxes returns are treated as fiscal parameters, endogenous fluctuations may emerge as a consequence of Hopf bifurcations. A technique based on the rank of Bezout matrices for polynomials associated to the Jacobian matrix is used to compute the Hopf points.
Fiscal policy and endogenous fluctuations
SENESI, Pietro
2013-01-01
Abstract
We study the effects of factor income taxation on the dynamics of equilibrium paths. When net of taxes returns are treated as fiscal parameters, endogenous fluctuations may emerge as a consequence of Hopf bifurcations. A technique based on the rank of Bezout matrices for polynomials associated to the Jacobian matrix is used to compute the Hopf points.File in questo prodotto:
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