tax base is relatively unequal and inelastic; (2) an increasing pattern of labor income taxes over time mitigates … remaining third come mostly from insurance; and (5) redistribution also leads to a more efficient allocation of labor via wealth …

fiscal policy in a dynamic general equilibrium set up; the main topics covered in this section are credibility of tax policy …

I study the effects of long-run inflation and income taxation in an economy where households face uninsurable … idiosyncratic risks. I construct a tractable competitive search framework that generates dispersion of prices, income and wealth. I … monetary and fiscal policies have distinctive effects on macro aggregates, such as output, savings, wealth dispersion, income …

realization requirement, preferential capital gains tax rates, and corporate taxation. These elements of the income tax mitigate … an income tax alters the tradeoff between asset liquidity and yield because: (1) high yields from illiquid assets are … the absence of an income tax. These distortions foster an excessively large financial sector, which exists in large part …