Panousi, Vasia - Volkswirtschaftliche Fakultät, … - 2009
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 … impacts only labor income, here it is shown that capital taxation may actually stimulate capital accumulation. This …