This paper studies the effects of progressive income taxes and education finance in a dynamic heterogeneous agent … to higher income growth than taxes and transfers, but at the cost of lower insurance. Overall efficiency is assessed … optimal rates. Aggregate income and aggregate welfare provide only very crude lower and upper bounds around the true …

parents' income that explains the wage growth of their children. …

, philanthropic preferences may increase the effectiveness of policies to redistribute income, instead of weakening them. Consequently …

We investigate how vertical unity within a community interacts with horizontal class divisions of an unequal income … that poorer individuals would be willing to impose on the rich, to achieve a given gain in personal income. Our conclusion … is that the nominal distribution of income could give a misleading picture of tensions in society, both within and across …

This Paper first documents the evolution of the cross-sectional income and consumption distribution in the US in the … past 25 years. Using data from the Consumer Expenditure Survey we find that a rising income inequality has not been … after-tax labor income has increased by 20% while the standard deviation of log consumption has increased less than 2 …