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The theory of incomplete contracting is rival to that of complete contracting as a frame of reference to understand contractual relationships. Both approaches rest upon diametrically opposed postulates and lead to very different policy conclusions. From a theoretical viewpoint, scrutiny of the...
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In a classic result, Jakobsson (1976) and Fellman (1976) showed that average-rate progressive, and only average-rate progressive, income taxes reduce income inequality. Carbonell-Nicolau and Llavador (2018) extended this result to the case of endogenous income, showing that marginal-rate...
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The theory of incomplete contracting is rival to that of complete contracting as a frame of reference to understand contractual relationships. Both approaches rest upon diametrically opposed postulates and lead to very different policy conclusions. From a theoretical viewpoint, scrutiny of the...
Persistent link: https://www.econbiz.de/10013228753