investments through equity rather than debt andsupply income insurance. The government, however, can circumventthis problem and … implement equity and insurance contracts through thetax system using a graduate tax. This paper shows that public …

positive, even in absence of redistributive preferences of the government. A more progressive tax system has efficiency gains …

positive, even in absence of redistributive preferences of the government. A more progressive tax system has efficiency gains …

investments through equity rather than debt andsupply income insurance. The government, however, can circumventthis problem and … implement equity and insurance contracts through thetax system using a graduate tax. This paper shows that public …

deductible from the income tax distort the learning decision as well. We show theoretically that the trade-off between efficiency … and equity is worsened. Quantitative analysis shows that the distortionary costs of taxation increase substantially when …

positive, even in absence of redistributive preferences of the government. A more progressive tax system has efficiency gains …

positive, even in absence of redistributive preferences of the government. A more progressive tax system has efficiency gains …

risky investments through equity rather than debt and supply income insurance. The government, however, can circumvent this … problem and implement equity and insurance contracts through the tax system by using a graduate tax. This paper shows that … public equity financing of education coupled to provision of some income insurance is the optimal way to finance education …

investments through equity rather than debt andsupply income insurance. The government, however, can circumventthis problem and … implement equity and insurance contracts through thetax system using a graduate tax. This paper shows that public …