. Focusing on the stabilizing role of policies, we show that a progressive taxation on capital income may rule out expectation …

-faire equilibrium is inefficient, and there can be an independent efficiency rationale for income taxation. I study a setting of wage … is not sensitive to the magnitude of the labour supply response to taxation. For a planner with redistributive motives …

In this paper, a model of political consensus is introduced. Parties try to reach consensus in forming a government. A … government is defined as a pair consisting of a winning coalition and a policy supported by this coalition, where a policy …. Parties may be advised to adjust their preferences, i.e., to change their evaluation concerning some government(s) or/and the …

and identical between countries except for the timing of taxation. Expected taxation rather than current tax levels …

introduce either taxation or rationing. Each treatment is subjected to two conditions: the burden of the deficit is either …-riding. Individualized taxation brings the voluntary contributions closer to the optimum while uniform rationing appears to be the worst …