Semiparametric multivariate GARCH models
(2003)
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- Abstract
- This paper studies voting over quadratic taxation when income is fixed and taxation non distortionary. The set of feasible taxes is compact and self-interested voters have corner preferences. We first show that, if a majority winning tax policy exists, it involves maximum progressivity. We then give a necessary and sufficient condition on the income distribution for a majority winner to exist. This condition appears to be satisfied for a large class of distribution functions.
- Affiliations
Citations
Hafner, C., & Rombouts, J. (2003). Semiparametric multivariate GARCH models (ECON Discussion Papers 2003/04). https://hdl.handle.net/2078.5/77545