Second, even in the absence of fiscal costs, public debt reduces capital accumulation, and may therefore have welfare …-adjusted rate of return to capital. If it is lower than the growth rate, it indicates that the risk-adjusted rate of return to … capital is in fact low. The average risky rate however also plays a role. I show how both the average risky rate and the …

obtain 8% and 1%. Dynamic scoring for the EU-14 shows that 54% of a labor tax cut and 79% of a capital tax cut are self-financing …We compare Laffer curves for labor and capital taxation for the US, the EU-14 and individual European countries, using … US can increase tax revenues by 30% by raising labor taxes and by 6% by raising capital income taxes. For the EU-14 we …

The importance of financial markets and international capital flows have increased greatly since the 1990s. How does …

's government uses linear taxation to fund exogenous expenditures and uses public debt to inter-temporally allocate tax distortions …. We characterize a class of environments in which the tax on labor goes to zero in the long run, while the tax on capital …

European nations substitute between employment protection regulations and labor market expenditures (e.g., unemployment … adjustments than other labor insurance mechanisms. Venture capital and private equity investors are especially sensitive to these … labor adjustment costs. Nations favoring labor expenditures as the mechanism for providing worker insurance developed …

exposures to NBFI and dollar funding, with less priority for regulations focused on residency (i.e., capital controls). After …

and income taxes; (b) make wealth taxes less efficient relative to capital income taxes, at given rates of tax; (c) reduce …

segmentation is partly overcome by global arbitrageurs with limited capital. Our model accounts for the empirically documented …