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of education taxes/subsidies. We demonstrate how the government can achieve redistribution through wage compression and …
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This paper studies optimal taxation of income and education when employers cannot observe workers' productivity and … workers signal their productivity to firms by choosing both quantity and quality of education. We characterize constrained …. Implementation through income and education dependent taxes is discussed, as well as education mandates. A key insight is that …
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We develop a dynamic model of corporate investment and financing decisions in which corporate insiders have superior information about the firm's growth prospects. We show that firms with positive private information can credibly signal their type to outside investors using the timing of...
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