Skip to content

Commit cc7cbc2

Browse files
rickeconCopilot
andauthored
Grammar fix in government.md
Co-authored-by: Copilot <175728472+Copilot@users.noreply.github.com>
1 parent 5a82682 commit cc7cbc2

1 file changed

Lines changed: 1 addition & 1 deletion

File tree

docs/book/content/theory/government.md

Lines changed: 1 addition & 1 deletion
Original file line numberDiff line numberDiff line change
@@ -589,7 +589,7 @@ Note that the budget closure rule (described in Section ref{`SecUnbalGBCcloseRul
589589
&\qquad\quad\forall j,t\quad\text{and}\quad E+1\leq s\leq E+S \quad\text{where}\quad b_{j,E+1,t}=0
590590
```
591591

592-
where we defined the tax liability function $tax_{j,s,t}$ in {eq}`EqTaxCalcLiabETR` as effective tax rate times respective total income and wealth. The transfer distribution function $\eta_{j,s,t}$ can vary by lifetime ability group $j$, age $s$, and time period $t$. Households also remit tax on bequets received ($\tau^{bq}$) and on consumption ($\tau^c$)And government revenue from the corporate income tax rate schedule $\tau^{corp}_{m,t}$ and the tax on depreciation expensing schedule $\delta^\tau_{m,t}$ enters the firms' profit function in each industry $m$.
592+
where we defined the tax liability function $tax_{j,s,t}$ in {eq}`EqTaxCalcLiabETR` as effective tax rate times respective total income and wealth. The transfer distribution function $\eta_{j,s,t}$ can vary by lifetime ability group $j$, age $s$, and time period $t$. Households also remit tax on bequests received ($\tau^{bq}$) and on consumption ($\tau^c$). And government revenue from the corporate income tax rate schedule $\tau^{corp}_{m,t}$ and the tax on depreciation expensing schedule $\delta^\tau_{m,t}$ enters the firms' profit function in each industry $m$.
593593

594594
```{math}
595595
:label: EqFirmsProfit2

0 commit comments

Comments
 (0)