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This paper studies the effects of progressive income taxes and education finance in a dynamic heterogeneous agent economy. Such redistributive policies entail distortions to labour supply and savings, but also serve as partial substitutes for missing credit and insurance markets. The resulting...
Persistent link: https://www.econbiz.de/10005124288
theoretical grounds the discretionary component of taxation should be allowed to have different effects on output than the …
Persistent link: https://www.econbiz.de/10008854466
This paper seeks to explain the significant variations in the social contract observed across nations. It shows how countries with similar technologies and preferences, as well as equally democratic political systems, can sustain very different average and marginal tax rates. Similarly, it...
Persistent link: https://www.econbiz.de/10005792191