-tax reforms using a model economy that replicates the U.S. distributions of earnings, income and wealth in very much detail. We … of after-tax income. In contrast, the more progressive reform brings about a -2.6% reduction in steady state output and a … distribution of after-tax income that is more egalitarian. We also find that in the less progressive flat-tax economy aggregate …

long-run models of income- and wealth-distribution Piketty (2014) draws on a rich economic analysis that models the intra … economic factors on inequality in the long run, we use the concept of an equilibrium distribution. However the long …

phenomenon in their universe. This methodological defect persists since Adam Smith. Therefore, the theories of income and wealth …