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Non-linear Capital Taxation Without Commitment

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  • Emmanuel Farhi
  • Christopher Sleet
  • Iván Werning
  • Sevin Yeltekin

Abstract

We study efficient non-linear taxation of labour and capital in a dynamic Mirrleesian model incorporating political economy constraints. Policies are chosen sequentially over time, without commitment. Our main result is that the marginal tax on capital income is progressive, in the sense that richer agents face higher marginal tax rates. Copyright , Oxford University Press.

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File URL: http://hdl.handle.net/10.1093/restud/rds001
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Bibliographic Info

Article provided by Oxford University Press in its journal Review of Economic Studies.

Volume (Year): 79 (2012)
Issue (Month): 4 ()
Pages: 1469-1493

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Handle: RePEc:oup:restud:v:79:y:2012:i:4:p:1469-1493

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Cited by:
  1. Conesa, Juan C. & Domínguez, Begoña, 2013. "Intangible investment and Ramsey capital taxation," Journal of Monetary Economics, Elsevier, vol. 60(8), pages 983-995.
  2. Findeisen, Sebastian & Sachs, Dominik, 2014. "Education Policies and Taxation without Commitment," Working Papers 14-16, University of Mannheim, Department of Economics.

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