may arise even if there are no frictions in financial markets and even if individual investors can freely transfer their … capital abroad if there are frictions in goods markets such as transport costs, tariffs, nontariff barriers, the cost of … regulatory compliance, etc. In fact, there is evidence that frictions in goods markets are a more serious impediment to countries …

may arise even if there are no frictions in financial markets and even if individual investors can freely transfer their … capital abroad if there are frictions in goods markets such as transport costs, tariffs, nontariff barriers, the cost of … regulatory compliance, etc. In fact, there is evidence that frictions in goods markets are a more serious impediment to countries …

We study optimal taxation in a model with endogenous financial frictions, risky investment and occupational choice … income because financial frictions reduce the elasticity of capital income with respect to taxes and because capital income …

the minimum wage sector. The main mechanism for these effects appears to be the reduction of information frictions, rather …