This paper studies optimal taxation in dynamic economies with a simple form of human capital accumulation as considered in Bull (1993). We show that in a Ramsey equilibrium along any balanced growth path, the taxes on wage income and (physical) capital income must be zero. Under the assumption...

This paper studies optimal taxation in dynamic economies with a simple form of human capital accumulation as considered in Bull (1993). We show that in a Ramsey equilibrium along any balanced growth path, the taxes on wage income and (physical) capital income must be zero. Under the assumption...

We present a new cake-cutting procedure which guarantees everybody a proportional share according to his own valuation.

We present a new cake-cutting procedure which guarantees everybody a proportional share according to his own valuation.

This note clarifies two issues in the context of Varian's (1994) model of sequential contributions to a public good. First, it is shown that private provision of a public good is not necessarily neutral with respect to income transfers when agents move sequentially rather than simultaneously....