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Effects of the taxation on inheritance in a microfounded model of growth and post-Keynesian distribution with overlapping generations and life cycle

Author

Listed:
  • Renato Nozaki Sugahara

    (m Paraná State University at Maringá - PCE/UEM, Brazil)

  • Edilean Kleber da Silva Bejarano Aragón

    (Paraná State University at Londrina - UEL, Brazil)

  • Marina Silva da Cunha

    (Centro de Estudos Sociais Aplicados - CESA, Brazil)

  • Claudia Perdigão

    (Federal University of Paraiba - UFPB, Brazil)

Abstract

This paper extends the model of overlapping generations with heterogeneous agents, allowing both classes (capitalist and worker) to hold a positive intergenerational capital stock. The main results were: (i) equilibrium interest rates that maximize the consumption and savings plans of working and capitalist classes were positively affected by taxation; (ii) an increase in taxation and therefore, in transfers to the working class raises the participation of intergenerational inheritance of this class in the total capital stock; (iii) the taxation affects the distribution of wealth between the classes because it increases the participation of the working class in the total capital stock of the economy

Suggested Citation

  • Renato Nozaki Sugahara & Edilean Kleber da Silva Bejarano Aragón & Marina Silva da Cunha & Claudia Perdigão, 2016. "Effects of the taxation on inheritance in a microfounded model of growth and post-Keynesian distribution with overlapping generations and life cycle," Economia, ANPEC - Associação Nacional dos Centros de Pós-Graduação em Economia [Brazilian Association of Graduate Programs in Economics], vol. 17(3), pages 340-350.
    • Handle: RePEc:anp:econom:v:17:y:2016:3:340_350
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    More about this item

    Keywords

    Intertemporal consumption; Post-Keynesian; Government transfers;
    All these keywords.

    JEL classification:

    • E12 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Keynes; Keynesian; Post-Keynesian; Modern Monetary Theory
    • E60 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General
    • D91 - Microeconomics - - Micro-Based Behavioral Economics - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making

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