the reform are entirely driven by the traditional substitution and income effects as in a unitary model. …

We study optimal fiscal policy in a standard incomplete-markets model with uninsurable idiosyncratic income risk, where … a Ramsey planner chooses time-varying paths of proportional capital and labor income taxes, lump-sum transfers (or taxes …), and government debt. We find that: (1) short-run capital income taxes are effective in providing redistribution since the …

This paper analyses the pre-tax inequality in the income that individuals actually receive in Brazil and the role of … the personal income tax in regulating these incomes. We produce a new distributional series of fiscal income, consistently … combining annual and nationally representative household survey data with detailed information on income tax declarations …