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The Effect of Endogenous Human Capital Accumulation on Optimal Taxation
Peterman, William - 2012
This paper considers the impact of endogenous human capital accumulation on optimal tax policy in a life cycle model. Including endogenous human capital accumulation, either through learning-by-doing or learning-or-doing, is analytically shown to create a motive for the government to use...
Persistent link: https://www.econbiz.de/10013111881
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Capital Taxation with Entrepreneurial Risk
Panousi, Vasia - 2011
entrepreneurial risk. Although it allows for rich general-equilibrium effects and a stationary distribution of wealth, the model is … following any change in tax policies. Unlike either the complete-markets paradigm or Bewley-type models where idiosyncratic risk …
Persistent link: https://www.econbiz.de/10013118438
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Unemployment Risk, Precautionary Saving, and Durable Goods Purchase Decisions
Dunn, Wendy E. - 1999
In this paper household level data are used to explore whether unemployment risk is an important factor in the timing … cycle. The model predicts that consumers respond to increases in unemployment risk by postponing purchases of the durable …. Consistent with the model, there is evidence that unemployment risk has a direct effect on the timing of home purchases …
Persistent link: https://www.econbiz.de/10014202887
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Household incomes in tax data : using addresses to move from tax unit to household income distributions
Larrimore, Jeff; Mortenson, Jacob; Splinter, David - 2017
Tax return data are increasingly the standard for tracking income statistics in the United States. However, these data have traditionally been limited by their inability to capture non-filers and to identify members of separate tax units living in the same household. We overcome these obstacles...
Persistent link: https://www.econbiz.de/10011708090
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The Trajectory of Wealth in Retirement
Love, David A.; Palumbo, Michael; Smith, Paul A. - 2009
As the baby boomers begin to retire, a great deal remains unknown about the evolution of wealth toward the end of life. In this paper, we develop a new measure of household resources that converts total financial, nonfinancial, and annuitized assets into an expected annual amount of wealth per...
Persistent link: https://www.econbiz.de/10014222247
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Robust Dynamic Optimal Taxation and Environmental Externalities
Li, Xin - 2014
from climate change to damages is subject to uncertainty, and we use robust control theory techniques to study efficiency …
Persistent link: https://www.econbiz.de/10013046482
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Robust Dynamic Optimal Taxation and Environmental Externalities
Li, Xin; Narajabad, Borghan; Temzelides, Theodosios - 2017
from climate change to damages is subject to uncertainty, and we use robust control theory techniques to study efficiency …
Persistent link: https://www.econbiz.de/10014121045
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Capital Taxation with Heterogeneous Discounting and Collateralized Borrowing
Biljanovska, Nina; Vardoulakis, Alexandros - 2017
We study optimal long-run capital taxation in a closed economy with heterogeneity in agents' time-discount factors where borrowing is allowed but restricted by a collateral constraint. Financial frictions distort intertemporal optimization margins and the tax system serves a dual role: first, it...
Persistent link: https://www.econbiz.de/10014121267
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Determining the Motives for a Positive Optimal Tax on Capital
Peterman, William - 2011
Previous literature demonstrates that in a computational life cycle model the optimal tax on capital is positive and large. Given the computational complexities of these overlapping generations models it is helpful to determine the relative importance of the economic factors driving this result....
Persistent link: https://www.econbiz.de/10013117721
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An Extensive Look at Taxes : How Does Endogenous Retirement Affect Optimal Taxation?
Peterman, William - 2012
This paper considers the impact on optimal tax policy of including endogenously determined retirement in a life cycle model. Allowing individuals to determine when they retire causes the optimal tax on capital to increase by 75% because of two implicit changes in the aggregate labor supply...
Persistent link: https://www.econbiz.de/10013106772