Non-linear Capital Taxation Without Commitment

Article English OPEN
Emmanuel Farhi; Christopher Sleet; Iván Werning; Sevin Yeltekin;
(2011)

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 progres... View more
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