Built-in flexibility of taxation and stability when tax liabilities respond with a time lag .1. Comment
Citation:James F. Bradley, 'Built-in flexibility of taxation and stability when tax liabilities respond with a time lag .1. Comment', [Letter], Economic and Social Research Institute, Economic and Social Review, Vol.7 (Issue 4), 1976, 1976, pp417-418
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In the October 1975 issue of The Economic and Social Review, D. J . Smyth examined the built-in stability of a system when tax liabilities are a lagged function of income. Taking an unlagged and a distributed lag consumption function he showed that the existence of a lagged tax function could be destabilising, causing damped, regular or explosive oscillations.
Author: Bradley, James F.
Publisher:Economic and Social Research Institute
Type of material:Letter
Series/Report no:Economic and Social Review
Vol.7 (Issue 4), 1976
Availability:Full text available