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Capital Income Risk and the Dynamics of the Wealth Distribution
Khieu, Hoang - 2019
Labour income follows a deterministic growth trend and fluctuates between two values. Interest rates are drawn initially, fluctuate between two values and can differ in their arrival rates. Low interest rates imply a stationary long-run wealth distribution, high interest rates imply exploding...
Persistent link: https://www.econbiz.de/10012857913
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The Social Cost of Carbon with Intragenerational Inequality Under Economic Uncertainty
van der Ploeg, Rick; Emmerling, Johannes; Groom, Ben - 2022
intergenerational inequality aversion and for risk aversion. If growth increases (reduces) intra-generational inequality, the SDR is …
Persistent link: https://www.econbiz.de/10014082790
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Incentives, Globalization, and Redistribution
Haufler, Andreas - 2020
We offer a new explanation for why taxes have become less progressive in many countries in parallel with an increase in income inequality. When performance-based compensation differentials are needed to incentivize effort, redistribution through progressive income taxes becomes less precisely...
Persistent link: https://www.econbiz.de/10012827110
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Top Incomes and Top Taxes in Germany
Corneo, Giacomo - 2006
We analyze the distribution and taxation of top incomes in Germany during the 1990s on the basis of individual tax returns data. We derive a measure of economic income from taxable gross income as reported in the tax returns. Thanks to complete sampling, we can deliver a very precise description...
Persistent link: https://www.econbiz.de/10012781544
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How to Tax Different Incomes?
Lehmann, Etienne; Jacquet, Laurence - 2021
We study the optimal tax system when taxpayers earn different kinds of income by supplying different inputs. Imperfect substitution between inputs allows for general equilibrium effects. We consider any type of cross-base responses to tax changes such as income-shifting. Formalizing the tax...
Persistent link: https://www.econbiz.de/10013211111
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Fair Earnings Tax Reforms
Ooghe, Erwin; Schokkaert, Erik; Serruys, Hannes - 2023
We characterize a measure of social welfare for linear production economies in which individuals differ in productive skills and preferences. The key feature of our measure is that it aggregates fairness gaps, defined as the difference between the money-metric utility that the individual...
Persistent link: https://www.econbiz.de/10014262033
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Indebted Demand
Mian, Atif R. - 2020
We propose a theory of indebted demand, capturing the idea that large debt burdens by households and governments lower … aggregate demand, and thus natural interest rates. At the core of the theory is the simple yet under-appreciated observation …
Persistent link: https://www.econbiz.de/10012836950
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The Saving Glut of the Rich and the Rise in Household Debt
Mian, Atif R. - 2020
Rising income inequality since the 1980s in the United States has generated a substantial increase in saving by the top of the income distribution, which we call the saving glut of the rich. The saving glut of the rich has been as large as the global saving glut, and it has not been associated...
Persistent link: https://www.econbiz.de/10012837475
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Reasons for the Demise of Interest : Savings Glut and Secular Stagnation or Central Bank Policy?
Schnabl, Gunther - 2019
for the future (global savings glut). Low growth is linked to slowing population growth and a declining marginal …, from the perspective of Austrian business cycle theory, interest rates were step by step decreased by central banks to … nihilo and the need of time to produce capital invalidates the IS identity assumed in the Keynesian theory to hold …
Persistent link: https://www.econbiz.de/10012858697
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Factor Substitution, Income Distribution, and Growth in a Generalized Neoclassical Model
Irmen, Andreas; Klump, Rainer - 2021
asymmetries of savings out of factor incomes. This generalized model helps to shed new light on a recent debate concerning the … the particular savings hypothesis. However, if savings out of capital income are substantial so that a certain threshold …
Persistent link: https://www.econbiz.de/10013316692