understand why tax systems look the way they look. Finally, we exploit a database of reforms in labour taxation in the European …

We explore the consequence for taxation and regulation of bonus pay when investors are protected by taxpayers from …

financed through age-dependent taxation that distorts human capital investment. Taxes redistribute income both across different …

We analyze the role of optimal income taxation across different local labor markets. Should labor in large cities be …

usually taken as an argument against the necessity of government intervention through Pigouvian taxation in order to correct … be prevented from always trying to exploit all gains from trade, may in fact be solved by taxation. Thus, in our … framework Coasean bargaining is not a substitute for Pigouvian taxation; instead it is the very reason for government …

indexed debt, such that the marginal benefit of a surprise inflation exactly balances the marginal cost. Unlike in earlier … inflation and positive nominal interest rates. We compare our results with those in Persson, Persson and Svensson (1987), Calvo …

issue only nominal non-contingent bonds we examine the implications for optimal inflation of changes in the level and … given. We identify the main mechanisms through which inflation is affected by debt and debt maturity (a real balance effect … monetary and fiscal policy we find that the persistence and volatility of inflation depends on the sign, size and maturity …

the interests of the poor. The clientele of such governments favour unanticipated inflation taxes to erode the real value … of debt service and redistribute income from the rich to the poor. Consequently, inequality sows the seeds for inflation …. Regressions confirm the empirical predictions of the model and show a strong positive relationship between the inflation rate and …