Tsai, Yi-Chan; Yang, C. C.; Yu, Hsin-Jung - In: Quantitative economics : QE ; journal of the … 13 (2022) 3, pp. 1061-1099
. This paper quantitatively characterizes the dynamics of optimal taxation in response. Two main results emerge, regardless … optimal taxation resembles the empirical decline in capital taxes and the increase in labor taxes observed in the United …