Browsing Discussion papers (SAM) by Subject "optimal taxation"
Now showing items 1-2 of 2
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First-best optimality in capital income taxation
(Discussion paper, Working paper, 2004-10)In case of risk, especially aggregate risk which cannot be insured, the literature states that for achieving first-best optimality state-dependent lumpsum taxes are absolutely necessary. However, we show in a two-asset ... -
Optimal income taxation with a risky asset : the triple income tax
(Discussion paper, Working paper, 2004-06)We show in a two-period world with endogenous savings and two assets, one of them exhibiting a stochastic return that an interest adjusted income tax is optimal. This tax leaves a safe component of interest income tax ...