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Optimal Tax and Debt Policy with Endogenously Imperfect Creditworthiness
Aizenman, Joshua; Gavin, Michael; Hausmann, Ricardo - 2021
This paper shows that the patterns of optimal tax rates and borrowing in the presence of endogenous borrowing constraints differ considerably from the patterns observed with fully integrated capital markets. We study a developing country characterized by a costly tax collection. Its access to...
Persistent link: https://www.econbiz.de/10013213072
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The Optimal Taxation of Height : A Case Study of Utilitarian Income Redistribution
Mankiw, N. Gregory - 2011
Should the income tax include a credit for short taxpayers and a surcharge for tall ones? The standard Utilitarian framework for tax analysis answers this question in the affirmative. Moreover, a plausible parameterization using data on height and wages implies a substantial height tax: a tall...
Persistent link: https://www.econbiz.de/10013134658
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Preference Heterogeneity and Optimal Capital Income Taxation
Golosov, Mikhail - 2010
We examine a prominent justification for capital income taxation: goods preferred by those with high ability ought to be taxed. In an environment where commodity taxes are allowed to be nonlinear functions of income and consumption, we derive an analytical expression that reveals the forces...
Persistent link: https://www.econbiz.de/10013135052
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Optimal Distribution and Taxation of the Family
Kaplow, Louis - 2010
Income tax burdens on family units are adjusted to reflect differences in ability to pay attributable to whether the unit consists of a single individual or a married couple and how many dependents are present. Substantial controversy exists over the appropriate forms of adjustment, and existing...
Persistent link: https://www.econbiz.de/10013135144
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Technological Linkages, Market Structure, and Optimum Production Policies
Lovely, Mary E. - 2010
There has been an increased interest in the efficacy of industrial policy. We show that policy design for vertically-related industries hinges on the nature of market interactions as well as technological linkages. Using a model in which final-good producers realize productivity gains from...
Persistent link: https://www.econbiz.de/10013139876
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Optimal Taxation of Top Labor Incomes : A Tale of Three Elasticities
Piketty, Thomas - 2011
This paper presents a model of optimal labor income taxation where top incomes respond to marginal tax rates through three channels: (1) standard labor supply, (2) tax avoidance, (3) compensation bargaining. We derive the optimal top tax rate formula as a function of the three corresponding...
Persistent link: https://www.econbiz.de/10013118130
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An Optimal Tax System
Kaplow, Louis - 2011
A notable feature and principal virtue of Tax by Design is its system-wide perspective on different elements of the tax system. This review essay builds on this trait and offers a more explicit foundation for the report's general approach, drawing on a distribution-neutral methodology that is...
Persistent link: https://www.econbiz.de/10013122469
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Optimal Taxation with Rent-Seeking
Rothschild, Casey - 2011
Recent policy proposals have suggested taxing top incomes at very high rates on the grounds that some or all of the highest wage earners are engaged in socially unproductive or counterproductive activities, such as externality imposing speculation in the financial sector. To address this, we...
Persistent link: https://www.econbiz.de/10013125562
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The Promise of Positive Optimal Taxation : Normative Diversity and a Role for Equal Sacrifice
Weinzierl, Matthew - 2012
theory of optimal taxation …
Persistent link: https://www.econbiz.de/10013096851
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Optimal Labor Income Taxation
Piketty, Thomas - 2012
This paper reviews recent developments in the theory of optimal labor income taxation. We emphasize connections between … theory and empirical work that were initially lacking from optimal income tax theory. First, we provide historical and … distribution. We also emphasize connections between actual practice and the predictions from theory, and in particular the …
Persistent link: https://www.econbiz.de/10013098126