The real economic cost of homeownership depends on an intricate system of taxes and subsides that vary over time and …

By preemptive austerity, we mean a policy that increases taxes to deter potential rollover crises. The policy is so … eliminates the danger. Mechanically, high taxes make the safe zone in the model -- the set of sovereign debt levels for which the … reduce the level of debt to a point where, asymptotically, high taxes are no longer necessary …

This paper proposes a new framework to study the distribution of taxes and the effects of tax reforms, connecting … classical tax incidence analysis to optimal tax theory. To study the distribution of current taxes, labor taxes are assigned to … the corresponding workers, capital taxes to the corresponding asset owners, and consumption taxes to consumers. The tax …

observing how they revise their expectations about future inflation as well as taxes and government spending. We find that …