Progressive Estate Taxation

For an economy with altruistic parents facing productivity shocks, the optimal estate taxation is progressive: fortunate parents should face lower net returns on their inheritances. This progressivity reflects optimal mean reversion in consumption, which ensures that a long-run steady state exists with bounded inequality - avoiding immiseration.

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Year of publication:	2006-10
Authors:	Farhi, Emmanuel ; Werning, Iván
Institutions:	National Bureau of Economic Research (NBER)

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Extent:	application/pdf
Series:	NBER Working Papers.
Type of publication:	Book / Working Paper
Notes:	EFG PE published as Farhi, Emmanuel and Ivan Werning. “Progressive Estate Taxation." Quarterly Journal of Economics 125, 2 (May 2010): 635-673.. Number 12600
Classification:	E6 - Macroeconomic Policy Formation, Macroeconomic Aspects of Public Finance, Macroeconomic Policy, and General Outlook
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005717950