Optimal Taxation and Debt with Uninsurable Risks to Human Capital Accumulation

We consider an economy where individuals face uninsurable risks to their human capital accumulation and analyze the optimal level of linear taxes on capital and labor income together with the optimal path of government debt. We show that in the presence of such risks, it is beneficial to tax both la...

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Bibliographic Details
Main Authors: GOTTARDI, Piero, KAJII, Atsushi, NAKAJIMA, Tomoyuki
Format: text
Language:English
Published: Institutional Knowledge at Singapore Management University 2015
Subjects:
Online Access:https://ink.library.smu.edu.sg/soe_research/1799
https://ink.library.smu.edu.sg/context/soe_research/article/2798/viewcontent/aer_2E20110576.pdf
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Institution: Singapore Management University
Language: English
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