Constrained Inefficiency and Optimal Taxation with Uninsurable Risks

Constrained Inefficiency and Optimal Taxation with Uninsurable Risks

When individuals' labor and capital income are subject to uninsurable idiosyncratic risks, should capital and labor be taxed, and if so how? In a two-period general equilibrium model with production, we derive a decomposition formula of the welfare effects of these taxes into insurance and dist...

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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 2016
Subjects:
optimal linear taxes
incomplete markets
constrained efficiency
Economic Theory
Finance
Online Access:https://ink.library.smu.edu.sg/soe_research/1800
https://ink.library.smu.edu.sg/context/soe_research/article/2799/viewcontent/p_wp064.pdf
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Institution: Singapore Management University
Language: English

Internet

https://ink.library.smu.edu.sg/soe_research/1800
https://ink.library.smu.edu.sg/context/soe_research/article/2799/viewcontent/p_wp064.pdf

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