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dc.contributor.authorBarro, Jorge
Berkovich, Efraim
dc.date.accessioned 2017-11-28T17:20:57Z
dc.date.available 2017-11-28T17:20:57Z
dc.date.issued 2017
dc.identifier.citation Barro, Jorge and Berkovich, Efraim. "Nonlinear taxation in an economy with heterogeneous firms and heterogeneous households." (2017) James A. Baker III Institute for Public Policy of Rice University: https://www.bakerinstitute.org/research/barro-working-paper/.
dc.identifier.urihttps://hdl.handle.net/1911/98865
dc.description.abstract In an economy with heterogeneous firms and heterogeneous consumers, we describe a general equilibrium where firm equity is priced by a supply and demand process. With a model robust to arbitrary, nonlinear tax functions, we investigate the efficiency of replacing the current U.S. tax regime with a policy of no corporate taxes and taxation of capital distributions to the household at progressive personal income tax rates. We find that this policy reduces wealth inequality and increases total welfare.
dc.language.iso eng
dc.publisher James A. Baker III Institute for Public Policy of Rice University
dc.relation.urihttps://www.bakerinstitute.org/research/barro-working-paper/
dc.rights This material may be quoted or reproduced without prior permission, provided appropriate credit is given to the author and Rice University's Baker Institute for Public Policy.
dc.subjectheterogeneous households
heterogeneous firms
capital taxation
asset-pricing in incomplete markets
dc.title Nonlinear taxation in an economy with heterogeneous firms and heterogeneous households
dc.type Working paper
dc.type.dcmi Text


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