We investigate optimal taxation of lifetime income with and without an emigration option during old age. The government sets the rates of deferred taxation and of possibly reduced taxation of interest. If agents are immobile, the optimal policy consists in full deferral of income taxes on...

We develop a model of capital income tax competition where taxation can discriminate between different kinds of capital income (corporate income, interest income, and dividends) and various rules of international taxation can be applied. The firms' capital structures and the nature of the...

The paper analyzes the impact of personal income taxes on strategic business taxation. It sets up a model of tax competition between small jurisdictions whose governments are revenue maximizers and use business taxes on the capital stock and on corporate profits as their policy instruments....

We model a pay-as-you-go (PAYG) pension system as a series of incomplete intergenerational contracts. Each generation pays a pension to its parents as the price for a premortal transferral of economic property rights. The terms of this intergenerational trade are fixed in a social contract,...