The oscillations in the general views on the prospects for the future, alternating between the despair of imminent and inevitable doom and the euphoria of an impending new millenium, have a remarkable regularity about them, perhaps matching that of the long business cycle. The nineteenth century...

Wealth inequality is rising in rich countries. Capital taxation used simply to finance redistribution may not be able to counteract this trend, but can increased public investment financed by higher capital taxes? We examine how such a policy affects the distribution of wealth in a setting with...

Wealth inequality is rising in rich countries. Capital taxation used simply to finance redistribution may not be able to counteract this trend, but can increased public investment financed by higher capital taxes? We examine how such a policy affects the distribution of wealth in a setting with...