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Does Redistribution Reduce Inequality?

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Author Info
Davies, James B

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Abstract

The steady-state effect on inequality of linear redistributive schemes based on the taxation of earnings, inheritances, or some combination of the two is examined. Dynasties that exhibit asexual reproduction and altruism are modeled. Earnings ability, which may be correlated across generations, is exogenous and drawn from a station ary distribution. Taxing inheritances increases inequality by reducing the inter generational averaging of "luck." Taxing lifetime wealth or income adds a lump-sum tax on earnings, making redistribution more successful. However, this success is sensitive to the relative size of mean earnings and inheritances. Copyright 1986 by University of Chicago Press.

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Publisher Info
Article provided by University of Chicago Press in its journal Journal of Labor Economics.

Volume (Year): 4 (1986)
Issue (Month): 4 (October)
Pages: 538-59
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Handle: RePEc:ucp:jlabec:v:4:y:1986:i:4:p:538-59

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  1. Christian Kleiber & Martin Sexauer & Klaus Wälde, 2006. "Bequests, Taxation and the Distribution of Wealth in a General Equilibrium Model," CESifo Working Paper Series CESifo Working Paper No. , CESifo Group Munich. [Downloadable!]
    Other versions:
  2. Jordi Caballé & Luisa Fuster, 2000. "Pay-as-you-go Social Security and the Distribution of Bequests," Economics Working Papers 468, Department of Economics and Business, Universitat Pompeu Fabra. [Downloadable!]
  3. Ana I. Moro-Egido, 2004. "Educational System, Altruism and Inequality in the Distribution of Income," Economic Working Papers at Centro de Estudios Andaluces E2004/46, Centro de Estudios Andaluces. [Downloadable!]
  4. Jordi Caballé & Ana I. Moro Egido, 2008. "The Effect of Aspirations, Habits, and Social Security on the Distribution of Wealth," ThE Papers 08/02, Department of Economic Theory and Economic History of the University of Granada.. [Downloadable!]
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