Monetary policy is superneutral in an overlapping generations model. Previous authors have argued that superneutrality does not hold in such a setting. However, the standard results rely on the counter-factual premise of helicopter money and are overturned if money creation through open market...

The 'big trade-off', described by Arthur Okun some thirty years ago, is back again. Equality or efficiency, or to put it differently again: modern highly developed economies and societies have to choose between the Scylla of income inequality or the Charybdis of unemployment. Furthermore, it...

We introduce a skewness-based approach to measure tax progression and demand for redistribution. We provide a political economy foundation for a novel measure of skewness by expressing key properties of the classical model of voting over income redistribution (Meltzer and Richard, 1981) and the...