preferences. Moreover, there is aggregate uncertainty so that the social benefits from taxation and public goods provision are a …

We analyze optimal taxation of labor and capital income in a life-cycle framework with idiosyncratic income risk. We … provide a novel decomposition of labor income tax formulas into a redistribution and an insurance component. The latter is … capital tax is non-zero and trades off redistribution and insurance against savings distortions. Our quantitative results …

We analyze optimal taxation of labor and capital income in a life-cycle framework with idiosyncratic income risk. We … provide a novel decomposition of labor income tax formulas into a redistribution and an insurance component. The latter is … capital tax is non-zero and trades off redistribution and insurance against savings distortions. Our quantitative results …

This paper investigates the role of public policies in Italy by assessing both the redistribution and risk sharing … dynamics of regional convergence. Moving from 1951–65 to 1983–92, interregional redistribution increases from 10%–18% to 19 …

We analyze optimal taxation of labor and capital income in a life-cycle framework with idiosyncratic income risk. We … provide a novel decomposition of labor income tax formulas into a redistribution and an insurance component. The latter is … capital tax is non-zero and trades off redistribution and insurance against savings distortions. Our quantitative results …

high levels of redistribution. According to international rankings, however, among the fourteen most unequal countries in …

on how risk exposure and income are related to preferences for redistribution. To test our hypotheses, we extract … turn our attention to the supply side of government redistribution. Institutions, we argue, mediate governments' reactions …

redistributions. Nonetheless, the social-mobility argument for redistribution is not satisfactory, as actual transition probabilities …