In this paper a simple dynastic overlapping-generations model with homogeneous agents is used to analyze the optimal use of capital income tax, labor income tax and estate tax. The results of this analysis add to the conventional wisdom about capital income taxation: while it is true that in the...

This paper studies a married couple's dynamic investment and consumption choices under the assumption that the couple cannot commit across time not to renegotiate their decisions. The inefficiencies that can arise are characterized. Efficiency properties of different divorce asset-division...

This paper studies a married couple s dynamic investment and consumption choices under the assumption that the couple cannot commit across time not to renegotiate their decisions. The inefficiencies that can arise are characterized. Efficiency properties of different divorce asset-division...

In this paper a simple dynastic overlapping-generations model with homogeneous agents is used to analyze the optimal use of capital income tax, labor income tax and estate tax. The results of this analysis add to the conventional wisdom about capital income taxation: while it is true that in the...

We show that the optimal property tax rate rises with the ratio of land rents to structure and land development costs. California’s high ratio of income to property tax revenue and the distribution of Federal housing subsidies thus appear geographically misplaced. Proportional taxation of...