Thum, Claudio; Uebelmesser, Silke - In: International Tax and Public Finance 10 (2003) 5, pp. 549-64
In closed economies, human capital investment faces a hold-up problem of excessive redistributive taxation. Increased international labor mobility, however, changes the constraints which affect optimal education and tax policy. We show that in a non-altruistic, gerontocratic world, investments...