We study optimal taxation in a model with endogenous financial frictions, risky investment and occupational choice … are poor, leading to a redistributive motive for taxation. Optimal tax rates can be written as a closed-form function of … taxes prevent excessive entry into entrepreneurship. Optimal wealth taxes are positive but close to zero, since they …

assess optimal capital taxation. …

unchanged. In this scenario, a change in the mode of taxation affects the present value of disposable income in the private …

mode of taxation affects the present value of disposable income in the private sector. This violates their Barro …

government spending, a change in taxation does not alter the set of feasible life-time consumption plans of the households and …

mode of taxation affects the present value of disposable income in the private sector. This violates their Barro …

government spending, a change in taxation does not alter the set of feasible life-time consumption plans of the households and …

government spending, a change in taxation does not alter the set of feasible life-time consumption plans of the households and …

unchanged. In this scenario, a change in the mode of taxation affects the present value of disposable income in the private …