Welfare-improving Consumption Tax in the Presence of Wage Tax under Idiosyncratic Returns from Investment and Incomplete Markets
Author
Suggested Citation
Download full text from publisher
References listed on IDEAS
- Vincenzo Quadrini, 2000.
"Entrepreneurship, Saving and Social Mobility,"
Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 3(1), pages 1-40, January.
- Vincenzo Quadrini, 1997. "Entrepreneurship, saving and social mobility," Discussion Paper / Institute for Empirical Macroeconomics 116, Federal Reserve Bank of Minneapolis.
- Piero Gottardi & Atsushi Kajii & Tomoyuki Nakajima, 2016.
"Constrained Inefficiency and Optimal Taxation with Uninsurable Risks,"
Journal of Public Economic Theory, Association for Public Economic Theory, vol. 18(1), pages 1-28, February.
- Piero Gottardi & Atsushi Kajii & Tomoyuki Nakajima, 2010. "Constrained Inefficiency and Optimal Taxation with Uninsurable Risks," Economics Working Papers ECO2010/02, European University Institute.
- Piero Gottardi & Atsushi Kajii & Tomoyuki Nakajima, 2014. "Constrained inefficiency and optimal taxation with uninsurable risks," FRB Atlanta Working Paper 2014-25, Federal Reserve Bank of Atlanta.
- Piero Gottardi & Atsushi Kajii & Tomoyuki Nakajima, 2014. "Constrained inefficiency and optimal taxation with uninsurable risks," CIGS Working Paper Series 14-002E, The Canon Institute for Global Studies.
- Piero Gottardi & Atsushi Kajii & Tomoyuki Nakajima, 2014. "Constrained Inefficiency and Optimal Taxation with Uninsurable Risks," KIER Working Papers 694, Kyoto University, Institute of Economic Research.
- Piero Gottardi & Atsushi Kajii & Tomoyuki Nakajima, 2014. "Constrained Inefficiency and Optimal Taxation with Uninsurable Risks," UTokyo Price Project Working Paper Series 021, University of Tokyo, Graduate School of Economics.
- Piero Gottardi & Atsushi Kajii & Tomoyuki Nakajima, 2015. "Constrained Inefficiency and Optimal Taxation with Uninsurable Risks," UTokyo Price Project Working Paper Series 046, University of Tokyo, Graduate School of Economics.
- Wojciech Kopczuk, 2003.
"The Trick Is to Live: Is the Estate Tax Social Security for the Rich?,"
Journal of Political Economy, University of Chicago Press, vol. 111(6), pages 1318-1341, December.
- Wojciech Kopczuk, 2002. "The Trick is to Live: Is the Estate Tax Social Security for the Rich?," NBER Working Papers 9188, National Bureau of Economic Research, Inc.
- Conesa, Juan Carlos & Krueger, Dirk, 2006.
"On the optimal progressivity of the income tax code,"
Journal of Monetary Economics, Elsevier, vol. 53(7), pages 1425-1450, October.
- Juan Carlos Conesa & Dirk Krueger, 2002. "On the Optimal Progressivity of the Income Tax Code," Centro de Altisimos Estudios Rios Pe©rez(CAERP) 4, Centro de Altisimos Estudios Rios Perez (CAERP).
- Juan Carlos Conesa & Dirk Krueger, 2005. "On the Optimal Progressivity of the Income Tax Code," NBER Working Papers 11044, National Bureau of Economic Research, Inc.
- Juan Carlos Conesa & Dirk Krueger, 2004. "On the Optimal Progressivity of the Income Tax Code," Working Papers 131, Barcelona School of Economics.
- Conesa, Juan Carlos & Krueger, Dirk, 2005. "On the optimal progressivity of the income tax code," CFS Working Paper Series 2005/10, Center for Financial Studies (CFS).
- Conesa, Juan Carlos & Krueger, Dirk, 2005. "On the Optimal Progressivity of the Income Tax Code," CEPR Discussion Papers 5040, C.E.P.R. Discussion Papers.
- Sagiri Kitao, 2008. "Entrepreneurship, taxation and capital investment," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 11(1), pages 44-69, January.
- Brian Bucks & Arthur B. Kennickell & Traci L. Mach & Kevin B. Moore, 2009. "Changes in U.S. family finances from 2004 to 2007: evidence from the Survey of Consumer Finances," Federal Reserve Bulletin, Board of Governors of the Federal Reserve System (U.S.), vol. 95(2).
- Peter A. Diamond, 2005.
"Taxation, Incomplete Markets, and Social Security,"
MIT Press Books,
The MIT Press,
edition 1, volume 1, number 0262541823, April.
- Peter A. Diamond, 2003. "Taxation, Incomplete Markets, and Social Security," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262042134, April.
- Atkinson, A. B. & Stiglitz, J. E., 1976. "The design of tax structure: Direct versus indirect taxation," Journal of Public Economics, Elsevier, vol. 6(1-2), pages 55-75.
- George-Marios Angeletos, 2007. "Uninsured Idiosyncratic Investment Risk and Aggregate Saving," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 10(1), pages 1-30, January.
- Marco Cagetti & Mariacristina De Nardi, 2006.
"Entrepreneurship, Frictions, and Wealth,"
Journal of Political Economy, University of Chicago Press, vol. 114(5), pages 835-870, October.
- Marco Cagetti & Mariacristina De Nardi, 2003. "Entrepreneurship, frictions, and wealth," Staff Report 322, Federal Reserve Bank of Minneapolis.
- Marco Cagetti & Mariacristina De Nardi, 2005. "Entrepreneurship, frictions, and wealth," Working Paper Series WP-05-09, Federal Reserve Bank of Chicago.
- Marco Cagetti & Mariacristina De Nardi, 2003. "Entrepreneurship, frictions and wealth," Working Papers 620, Federal Reserve Bank of Minneapolis.
- Eaton, Jonathan & Rosen, Harvey S., 1980. "Labor supply, uncertainty, and efficient taxation," Journal of Public Economics, Elsevier, vol. 14(3), pages 365-374, December.
- R. Glenn Hubbard & Kenneth L. Judd, 1986. "Liquidity Constraints, Fiscal Policy, and Consumption," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 17(1), pages 1-60.
- Evsey D. Domar & Richard A. Musgrave, 1944. "Proportional Income Taxation and Risk-Taking," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 58(3), pages 388-422.
- J. A. Mirrlees, 1971. "An Exploration in the Theory of Optimum Income Taxation," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 38(2), pages 175-208.
- Shinichi Nishiyama & Kent Smetters, 2005. "Consumption Taxes and Economic Efficiency with Idiosyncratic Wage Shocks," Journal of Political Economy, University of Chicago Press, vol. 113(5), pages 1088-1115, October.
- Robin Boadway & Motohiro Sato, 2011. "Optimal Income Taxation with Uncertain Earnings: A Synthesis," CESifo Working Paper Series 3654, CESifo.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Panousi, Vasia, 2009. "Capital Taxation with Entrepreneurial Risk," MPRA Paper 24237, University Library of Munich, Germany.
- Juan Carlos Conesa & Sagiri Kitao & Dirk Krueger, 2009.
"Taxing Capital? Not a Bad Idea after All!,"
American Economic Review, American Economic Association, vol. 99(1), pages 25-48, March.
- Juan C. Conesa & Dirk Krueger, 2004. "Taxing Capital: Not a Bad Idea After All," 2004 Meeting Papers 403, Society for Economic Dynamics.
- Juan Carlos Conesa & Sagiri Kitao & Dirk Krueger, 2007. "Taxing Capital? Not a Bad Idea After All!," NBER Working Papers 12880, National Bureau of Economic Research, Inc.
- Conesa, Juan Carlos & Krueger, Dirk & Kitao, Sagiri, 2006. "Taxing Capital? Not a Bad Idea After All!," CEPR Discussion Papers 5929, C.E.P.R. Discussion Papers.
- Conesa, Juan Carlos & Kitao, Sagiri & Krueger, Dirk, 2006. "Taxing capital? Not a bad idea after all!," CFS Working Paper Series 2006/21, Center for Financial Studies (CFS).
- Césaire Meh & Yaz Terajima, 2009.
"Uninsurable investment risks and capital income taxation,"
Annals of Finance, Springer, vol. 5(3), pages 521-541, June.
- Césaire Meh & Yaz Terajima, 2009. "Uninsurable Investment Risks and Capital Income Taxation," Staff Working Papers 09-3, Bank of Canada.
- Bas Jacobs, 2013.
"From Optimal Tax Theory to Applied Tax Policy,"
FinanzArchiv: Public Finance Analysis, Mohr Siebeck, Tübingen, vol. 69(3), pages 338-389, September.
- Bas Jacobs, 2013. "From Optimal Tax Theory to Applied Tax Policy," CESifo Working Paper Series 4151, CESifo.
- Benjamin Pugsley & Sebastian Dyrda, 2017.
"Taxes, Regulations of Businesses and Evolution of Income Inequality in the US,"
2017 Meeting Papers
1463, Society for Economic Dynamics.
- Sebastian Dyrda & Benjamin Pugsley, 2018. "Taxes, Regulations of Businesses and Evolution of Income Inequality in the US," 2018 Meeting Papers 318, Society for Economic Dynamics.
- George-Marios Angeletos & Vasia Panousi, 2011. "Financial Integration, Entrepreneurial Risk and Global Imbalances," NBER Working Papers 16761, National Bureau of Economic Research, Inc.
- Sagiri Kitao, 2010.
"Labor-dependent Capital Income Taxation That Encourages Work and Saving,"
2010 Meeting Papers
271, Society for Economic Dynamics.
- Sagiri Kitao, 2010. "Labor-dependent capital income taxation that encourages work and saving," Staff Reports 435, Federal Reserve Bank of New York.
- Marco Cagetti & Mariacristina De Nardi, 2009.
"Estate Taxation, Entrepreneurship, and Wealth,"
American Economic Review, American Economic Association, vol. 99(1), pages 85-111, March.
- Marco Cagetti & Mariacristina De Nardi, 2007. "Estate taxation, entrepreneurship, and wealth," Working Paper Series WP-07-08, Federal Reserve Bank of Chicago.
- Marco Cagetti & Mariacristina De Nardi, 2007. "Estate Taxation, Entrepreneurship, and Wealth," NBER Working Papers 13160, National Bureau of Economic Research, Inc.
- Elizaveta V. Martyanova & Andrey V. Polbin, 2023. "General equilibrium model with the entrepreneurial sector for the Russian economy," Russian Journal of Economics, ARPHA Platform, vol. 9(2), pages 109-133, July.
- Hsu, Minchung & Yang, C.C., 2013. "Optimal linear and two-bracket income taxes with idiosyncratic earnings risk," Journal of Public Economics, Elsevier, vol. 105(C), pages 58-71.
- Alessandro Di Nola & Georgi Kocharkov & Almuth Scholl & Anna-Mariia Tkhir, 2021.
"The Aggregate Consequences of Tax Evasion,"
Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 40, pages 198-227, April.
- Alessandro Di Nola & Georgi Kocharkov & Almuth Scholl & Anna-Mariia Tkhir, 2018. "The Aggregate Consequences of Tax Evasion," Working Paper Series of the Department of Economics, University of Konstanz 2018-06, Department of Economics, University of Konstanz.
- Di Nola, Alessandro & Kocharkov, Georgi & Scholl, Almuth & Tkhir, Anna-Mariia, 2018. "The Aggregate Consequences of Tax Evasion," VfS Annual Conference 2018 (Freiburg, Breisgau): Digital Economy 181514, Verein für Socialpolitik / German Economic Association.
- Kitao, Sagiri, 2010. "Labor-dependent capital income taxation," Journal of Monetary Economics, Elsevier, vol. 57(8), pages 959-974, November.
- Saez, Emmanuel, 2013.
"Optimal progressive capital income taxes in the infinite horizon model,"
Journal of Public Economics, Elsevier, vol. 97(C), pages 61-74.
- Emmanuel Saez, 2002. "Optimal Progressive Capital Income Taxes in the Infinite Horizon Model," NBER Working Papers 9046, National Bureau of Economic Research, Inc.
- Stefanie Stantcheva, 2020.
"Dynamic Taxation,"
Annual Review of Economics, Annual Reviews, vol. 12(1), pages 801-831, August.
- Stantcheva, Stefanie, 2020. "Dynamic Taxation," CEPR Discussion Papers 14347, C.E.P.R. Discussion Papers.
- Stefanie Stantcheva, 2020. "Dynamic Taxation," NBER Working Papers 26704, National Bureau of Economic Research, Inc.
- Piero Gottardi & Atsushi Kajii & Tomoyuki Nakajima, 2015.
"Optimal Taxation and Debt with Uninsurable Risks to Human Capital Accumulation,"
American Economic Review, American Economic Association, vol. 105(11), pages 3443-3470, November.
- Gottardi, Piero & Kajii, Atsushi & Nakajima, Tomoyuki, 2014. "Optimal taxation and debt with uninsurable risks to human capital accumulation," Economics Working Papers ECO2014/08, European University Institute.
- Piero Gottardi & Atsushi Kajii & Tomoyuki Nakajima, 2014. "Optimal taxation and debt with uninsurable risks to human capital accumulation," CIGS Working Paper Series 14-007E, The Canon Institute for Global Studies.
- Piero Gottardi & Atsushi Kajii & Tomoyuki Nakajima, 2015. "Optimal taxation and debt with uninsurable risks to human capital accumulation," UTokyo Price Project Working Paper Series 051, University of Tokyo, Graduate School of Economics.
- Piero Gottardi & Atsushi Kajii & Tomoyuki Nakajima, 2014. "Optimal taxation and debt with uninsurable risks to human capital accumulation," FRB Atlanta Working Paper 2014-24, Federal Reserve Bank of Atlanta.
- Piero Gottardi & Atsushi Kajii & Tomoyuki Nakajima, 2014. "Optimal taxation and debt with uninsurable risks to human capital accumulation," KIER Working Papers 897, Kyoto University, Institute of Economic Research.
- Fernández-Bastidas, Rocío, 2023. "Entrepreneurship and tax evasion," Economic Modelling, Elsevier, vol. 128(C).
- Clemens, Christiane & Heinemann, Maik, 2010.
"On entrepreneurial risk-taking and the macroeconomic effects of financial constraints,"
Journal of Economic Dynamics and Control, Elsevier, vol. 34(9), pages 1610-1626, September.
- Christiane Clemens & Maik Heinemann, 2008. "On Entrepreneurial Risk–Taking and the Macroeconomic Effects of Financial Constraints," Working Paper Series in Economics 103, University of Lüneburg, Institute of Economics.
- Stiglitz, Joseph E., 2018.
"Pareto efficient taxation and expenditures: Pre- and re-distribution,"
Journal of Public Economics, Elsevier, vol. 162(C), pages 101-119.
- Joseph E. Stiglitz, 2017. "Pareto Efficient Taxation and Expenditures: Pre- and Re-distribution," NBER Working Papers 23892, National Bureau of Economic Research, Inc.
- Saez, Emmanuel & Stantcheva, Stefanie, 2018.
"A simpler theory of optimal capital taxation,"
Journal of Public Economics, Elsevier, vol. 162(C), pages 120-142.
- Emmanuel Saez & Stefanie Stantcheva, 2016. "A Simpler Theory of Optimal Capital Taxation," NBER Working Papers 22664, National Bureau of Economic Research, Inc.
- Benhabib, Jess & Bisin, Alberto & Zhu, Shenghao, 2015. "The wealth distribution in Bewley economies with capital income risk," Journal of Economic Theory, Elsevier, vol. 159(PA), pages 489-515.
More about this item
NEP fields
This paper has been announced in the following NEP Reports:- NEP-DGE-2018-03-05 (Dynamic General Equilibrium)
- NEP-PBE-2018-03-05 (Public Economics)
- NEP-PUB-2018-03-05 (Public Finance)
Statistics
Access and download statisticsCorrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:tsu:tewpjp:2018-002. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Yoshinori Kurokawa (email available below). General contact details of provider: https://edirc.repec.org/data/iptsujp.html .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.