Showing 1 - 10 of 47
allocations in general equilibrium models with incomplete markets in which agents have general preference and endowment …
Persistent link: https://www.econbiz.de/10005100865
At a competitive equilibrium of an incomplete-markets economy agents' marginal valuations for the tradable assets are …
Persistent link: https://www.econbiz.de/10013112068
a tractable infinite horizon model with incomplete markets. With zero public expenditure and debt, it is optimal to tax …
Persistent link: https://www.econbiz.de/10010277403
When individuals' labor and capital income are subject to uninsurable idiosyncratic risks, should capital and labor be taxed, and if so, how? In a two-period general equilibrium model with production, we derive a decomposition formula of the welfare effects of these taxes into insurance and...
Persistent link: https://www.econbiz.de/10011310192
We consider an economy where individuals face uninsurable risks to their human capital accumulation and study the problem of determining the optimal level of linear taxes on capital and labor income together with the optimal path of the debt level. We show both analytically and numerically that...
Persistent link: https://www.econbiz.de/10011310194
allocations in general equilibrium models with incomplete markets where agents have general preference and endowment distributions …
Persistent link: https://www.econbiz.de/10005370663
financial markets are incomplete and assets' returns are nominal. The method of proof is substantially different from all …
Persistent link: https://www.econbiz.de/10005370839
We consider an economy where individuals face uninsurable risks to their human capital accumulation and study the problem of determining the optimal level of linear taxes on capital and labor income together with the optimal path of the debt level. We show both analytically and numerically that...
Persistent link: https://www.econbiz.de/10011115665
When individuals' labor and capital income are subject to uninsurable idiosyncratic risks, should capital and labor be taxed, and if so, how? In a two-period general equilibrium model with production, we derive a decomposition formula of the welfare effects of these taxes into insurance and...
Persistent link: https://www.econbiz.de/10011115667
We consider an economy where individuals face uninsurable risks to their human capital accumulation, and study the problem of determining the optimal level of linear taxes on capital and labor income together with the optimal path of the debt level. We show both analytically and numerically that...
Persistent link: https://www.econbiz.de/10010862111