insights into the role of country-specific shocks in shaping long-run wealth dynamics. This paper presents the first … comprehensive study of wealth and its distribution in Germany since the 19th century. We combine tax and archival data, household … surveys, historical national accounts, and rich lists to analyze the evolution of the German wealth distribution over the long …

What are the consequences of the preference for wealth for the accumulation of capital and for the dynamics of wealth … inequality? Assuming that wealth per se is a luxury good, inequality tends to rise whenever the interest rate is larger than the … economic growth rate. This induces the economy to converge towards an equilibrium with extreme wealth inequality, where the …

We show how normative standpoints determine optimal taxation of wealth. Since wealth is not equal to capital, we find …

Restrictions imposed on property assessment practices by state legislation such as Proposition 13 in California and … Proposition 2 1/2 in Massachusetts can lead to significant divergences between the assessed and market values of property … significant divergence in the property tax payment for a current homeowner and a prospective purchaser of the property. This may …

distributions of land and property values and the resulting distributional effects of implementing a LVT compared to a standard … property tax. Our results are as follows. First, we find revenue neutral LVT rates to be around 0.6% in our sample. Second, we … find the share of land value in property value on average to be 33% with considerable household heterogeneity, both within …

This paper examines the effects of real estate transfer taxes (RETT) on property prices using a rich micro dataset of …. Twelve months after a reform, a one percentage point increase in the tax rate reduces property prices by on average 3 …

We analyze the welfare implications of property taxation. Using a sufficient statistics approach, we show that the tax … incidence depends on how housing prices, labor and other types of incomes as well as public services respond to property tax … inelastic. Combining reduced form estimates with our theoretical framework, we simulate the welfare effects of property taxes …

We develop a model of property taxation and characterize equilibria under three alternative taxation regimes often used …

Property taxes impact the housing distribution across generations. Low property taxes lead to concentrated ownership … among elderly empty-nesters, limiting housing for financially constrained young families. Conversely, high property taxes … show in an overlapping generations model that raising property taxes in low-tax California to match those in higher …