Data and Code for: Optimal Positive Capital Taxes at Interior Steady States
Principal Investigator(s): View help for Principal Investigator(s) Jess Benhabib, NYU; Balint Szoke, NYU
Version: View help for Version V1
| Name | File Type | Size | Last Modified |
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| code_submit | 01/27/2020 04:00:PM | ||
| figures | 01/27/2020 03:51:PM | ||
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application/pdf | 44.2 KB | 01/27/2020 10:51:AM |
Project Citation:
Benhabib, Jess, and Szoke, Balint. Data and Code for: Optimal Positive Capital Taxes at Interior Steady States. Nashville, TN: American Economic Association [publisher], 2020. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2020-12-18. https://doi.org/10.3886/E116622V1
Project Description
Summary:
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We generalize recent results of Bassetto and Benhabib (2006) and Straub and Werning (2019) in a neo-classical model with endogenous labor-leisure choice where all agents are allowed to save and accumulate capital. We provide a sufficient condition under which optimal redistributive capital taxes remain at their allowed upper bound forever, even if the resulting equilibrium trajectory converges to a unique steady state with positive and finite consumption, capital, and labor. We then provide an interpretation of our sufficient condition. Using recent evidence on wealth distribution in the United States, we argue that our sufficient condition is empirically plausible.
Scope of Project
Subject Terms:
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Redistribution;
Optimal taxation;
Inequality;
Capital income taxes
JEL Classification:
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H21 Taxation and Subsidies: Efficiency; Optimal Taxation
H23 Taxation and Subsidies: Externalities; Redistributive Effects; Environmental Taxes and Subsidies
H21 Taxation and Subsidies: Efficiency; Optimal Taxation
H23 Taxation and Subsidies: Externalities; Redistributive Effects; Environmental Taxes and Subsidies
Data Type(s):
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program source code
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