This paper considers a representative agent model of linear capital and labor income taxation in which the government cannot commit ex-ante to a sequence of policies for the future. In this setup, if the government is more impatient than the households, the capital income tax will be positive in...

Most European countries suffer from a structural weakness of employment and competitiveness. Can an optimal tax system reinforce European countries in this respect? If so, does this long-term policy act as a devaluation or a revaluation? In this paper, we show that fiscal devaluation can be an...

Der Klimawandel zählt zu den größten Herausforderungen der Automobilindustrie. Obgleich eine Fülle technologischer Ansätze vorhanden sind, erreicht die europäische Automobilindustrie nicht ihre selbstgesteckten Ziele zur Verringerung der CO2-Emissionen. Ein wichtiger Grund hierfür ist die...

In the last decades, substantial changes have occurred regarding what scientists consider the limits of habitable environmental conditions. For every extreme environmental condition investigated, a variety of microorganisms have shown that not only can they tolerate these conditions, but that...

In a two-type Stiglitz (1982) model of optimal non-linear taxation it is shown that when the utility function relating to consumption is logaritmic the shadow price of the incentive constraint relating to the optimal tax problem exactly equals the Gini coefficient of the secondbest optimal...

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...

We characterize the solution to the optimal nonlinear income taxation problem if individuals face a minimum hours constraint that gives rise to labor supply responses along the extensive margin. We provide conditions for optimal marginal tax rates to be positive everywhere and derive a formula...