A number of recent studies suggest that flat rate taxes may have important effects on long-run growth in the neoclassical growth model with human capital. In contrast to the traditional human capital literature, these studies assume that agents are infinitely lived and face constant returns in...

How do taxes affect human capital accumulation? This question has been studied extensively in the context of two model classes: overlapping generations (OLG) and infinite horizon (IH) models. These embody very different assumptions about the intergenerational transmission of physical and human...

A number of recent studies suggest that flat rate taxes may have important effects on long-run growth in the neoclassical growth model with human capital. In contrast to the traditional human capital literature, these studies assume that agents are infinitely lived and face constant returns in...

This paper studies quantitative importance of accidental versus intended bequests. Bequests are decomposed into accidental and intended components by comparing the implications of a standard life-cycle model under alternative assumptions about bequest motives. The main finding is that accidental...