presence of a redistributional tax policy, credit market constraints, administrative costs of tax collection, and lack of … government commitment. We characterize how decreasing migration costs for skilled workers affect the time-consistent policies of … in migration costs is Pareto improving when migration costs are high, but have ambiguous effects when these costs are low …

The termination of a representative financial firm due to excessive leverage may lead to substantial bankruptcy costs … liquidation and the associated deadweight costs. It is shown that the optimal taxation policy to finance such transfers exhibits …

The purpose of the present note is to explore the structure of optimal income taxation/redistribution in an economy …, of course, an additional incentive for income redistribution from wealthy to poor citizens is created and the logical …

provides a unique opportunity to study preferences for redistribution via revealed preference. We study the motives driving tax … costs from protesting. We also find that social preferences are a significant motive: consistent with conditional …