Conesa, Juan Carlos (contributor); Kitao, Sagiri (contributor) - 2006
of capital
income, or both. The policy maker has then to trade off these concerns against the standard
distortions … against idiosyncratic risk and trade a full set
of Arrow securities against aggregate uncertainty. If, on the other hand, idio … taxes or taxation
of capital income (which mainly accrues to the wealthy), or both. The policy
maker then has to trade o …