Conesa, Juan Carlos (contributor); Krueger, Dirk (contributor) - 2005
author: Dirk Krueger, Department of Business and Economics, Johann Wolfgang Goethe-
University Frankfurt am Main, Mertonstr … absence
of explicit insurance markets for labor productivity risk a progressive tax system may be an
a persons’ life cycle.
10 … cycle structure
does not model it explicitly). Finally, the government can tax each individual’s income4,
yt = (1¡0:5¿ss …