| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w25126 |
| 来源ID | Working Paper 25126 |
| Overcoming Wealth Inequality by Capital Taxes that Finance Public Investment | |
| Linus Mattauch; David Klenert; Joseph E. Stiglitz; Ottmar Edenhofer | |
| 发表日期 | 2018-10-08 |
| 出版年 | 2018 |
| 语种 | 英语 |
| 摘要 | Wealth inequality is rising in rich countries. Capital taxation used simply to finance redistribution may not be able to counteract this trend, but can increased public investment financed by higher capital taxes? We examine how such a policy affects the distribution of wealth in a setting with distinct wealth groups: dynastic savers and life-cycle savers. Our main finding is that public investment financed through capital taxes always decreases wealth inequality when the elasticity of substitution between capital and labor is moderately high. Indeed, for all elasticities of substitution greater than a threshold value, at high enough capital tax rates, dynastic savers disappear in the long run. Below these rates, both types of households co-exist in equilibrium with life-cycle savers gaining from the higher capital tax rates. These results are robust with respect to the different roles of public investment in production. We calibrate our model to OECD economies and find the threshold elasticity to be 0.82. |
| 主题 | Microeconomics ; Market Structure and Distribution ; Macroeconomics ; Consumption and Investment ; Public Economics ; Taxation ; Public Goods ; National Fiscal Issues |
| URL | https://www.nber.org/papers/w25126 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/582800 |
| 推荐引用方式 GB/T 7714 | Linus Mattauch,David Klenert,Joseph E. Stiglitz,et al. Overcoming Wealth Inequality by Capital Taxes that Finance Public Investment. 2018. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w25126.pdf（1106KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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