• First-best optimality in capital income taxation 

      Hilgers, Bodo; Schindler, Dirk (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 

      Schindler, Dirk (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 ...