The paper considers the efficiency of the pay-as-you-go pension system with endogenous labor supply, when contributions are collected as an income tax. Results from the literature state that in this case a Pareto-improving transition path to a fully-funded system exists, if the interest rate is...

Der Tagungsband 2003 des Finanzwissenschaftlichen Ausschusses zum Thema 'Finanzpolitik und Umverteilung' bietet einen kompetenten Überblick über neuere Entwicklungen auf dem politisch aktuellen Forschungsfeld der Umverteilungspolitik, den in dieser synoptischen und kompakten Form...

This study offers a theoretical discussion of equity and efficiency aspects of income taxation. The analysis is carried out on two levels. The first one concerns the axiomatic derivation of certain tax principles in the framework of social choice theory. Normative characterizations of the two...

Inherited wealth creates a second distinguishing characteristic of individuals, in addition to earning abilities. We incorporate this fact into a model of optimal labor income taxation, with bequests motivated by joy of giving. We find that taxes on bequests or on inheritances allow further...