Taxing Capital? Not a Bad Idea After All!

被引:304
作者
Conesa, Juan Carlos [1 ]
Kitao, Sagiri [2 ]
Krueger, Dirk [3 ]
机构
[1] Univ Autonoma Barcelona, Dept Econ & Econ Hist, Bellaterra 08193, Spain
[2] Univ So Calif, Marshall Sch Business, Los Angeles, CA 90089 USA
[3] Univ Penn, Dept Econ, Philadelphia, PA 19104 USA
关键词
OPTIMAL TAXATION; REDISTRIBUTIVE TAXATION; BORROWING CONSTRAINTS; INCOME; CONSUMPTION; EFFICIENCY; REFORM; POLICY; RISK;
D O I
10.1257/aer.99.1.25
中图分类号
F [经济];
学科分类号
02 ;
摘要
We quantitatively characterize the optimal capital and labor income tax in an overlapping generations model with idiosyncratic, uninsurable income shocks and permanent productivity differences of households. The optimal capital income tax rate is significantly positive at 36 pet-cent. The optimal progressive labor income tax is, roughly, a flat tax of 23 percent with a deduction of $7,200 (relative to average household income of $42,000). The high optimal capital income tax is mainly driven by the life-cycle structure of the model, whereas the optimal progressivity of the labor income tax is attributable to the insurance and redistribution role of the tax system. (JEL E13, H21, H24, H25)
引用
收藏
页码:25 / 48
页数:24
相关论文
共 45 条