upswings. This has resulted in a quadrupling of its public debt-to-GDP ratio since the 1970s to above 80% of GDP. Reducing … sustainability if long-term interest rates rise. Bringing back public debt to 60% of GDP even by 2030 would require a fiscal effort … of 4 to 5 percentage points of GDP (under the assumption of unchanged long-term rates), implying permanent primary …

neither efficient economically nor efficient at redistributing income. With a focus on personal income taxes, this paper … understand why tax systems look the way they look. Finally, we exploit a database of reforms in labour taxation in the European …

Using a calibrated overlapping generations model we quantify the welfare gains of an age dependent income tax. Agents … GDP. The gains are particularly high when there are restrictions on debt policy. The gains of using a nonlinear- as … income. …

consumption expenditure. If consumption is financed by labour income, such status considerations increase labour supply and, hence …, the tax base. A higher taxable income, in turn, can make tax evasion more attractive. We show for various specifications … tax evasion. This is true, irrespective of whether tax parameters are exogenous, guarantee a balanced budget or are set …

on top income aimed at lowering the rewards of promotion and a labour law that restricts excess effort require such a …

tax on a polluting input and reducing that on labor income. Households are fully mobile within the federation. Regions are …

attention in the literature on optimal income taxation. This paper offers a simple and transparent analysis of its main …