This paper describes the relevance to lawyers and law students of the concept of income for tax purposes and tax policy … legislation which reflect the changing perceptions of the public policies involved. Concerning the concept of income, there is a … discussion of the difference between economists' definition of income and the judicial approach. Giving as examples the …

This paper studies the quantitative impact of eliminating capital income taxation on capital accumulation and steady …

to be positively related to interest income and wealth taxes and to the presence of domestic bank interest reporting …

and capital income taxation are not perfect substitutes. The optimal degree of financial repression depends on the growth …

-varying investment opportunities and countercyclical risky labor income dynamics. We show that households near retirement will reduce …

We consider a setting in which insiders have information about income that outside shareholders do not, but property … rights ensure that outside shareholders can enforce a fair payout. To avoid intervention, insiders report income consistent … with outsiders' expectations based on publicly available information rather than true income, resulting in an observed …

We develop a theory of income and payout smoothing by firms when insiders know more about income than outside …' expectations and underproduce to manage downward future expectations. The observed income and payout process are smooth and adjust …