Tag Archives: Emmanuel Saez

Optimal Income Transfer Programs: Intensive versus Extensive Labor Supply Responses

From Emmanuel Saez: This paper analyzes optimal income transfers for low incomes. Labor supply responses are modeled along the intensive margin (intensity of work on the job) and along the extensive margin (participation into the labor force). When behavioral responses … Continue reading

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The Distribution of US Wealth, Capital Income, and Returns since 1913

From Paul Krugman: Emmanuel Saez and Gabriel Zucman have been developing an alternative procedure for estimating top wealth shares — preliminary slides here — and it tells a very different story from the common one. According to their estimates, the wealth … Continue reading

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Wealth Inequality since 1810

Via Emmanuel Saez’s lecture notes on capital income taxation  

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Where is the Land of Opportunity? The Geography of Intergenerational Mobility in the United States

From Raj Chetty, Nathan Hendren, Pat Kline, and Emmanuel Saez: We use administrative records on the incomes of more than 40 million children and their parents to describe three features of intergenerational mobility in the United States. First, we characterize … Continue reading

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Rethinking capital and wealth taxation

From Thomas Piketty and Emmanuel Saez: This paper reviews recent developments in the theory of optimal capital taxation. We emphasize three main rationales for capital taxation. First, the frontier between capital and labor income flows is often fuzzy, thereby lending … Continue reading

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An Economical Business-Cycle Model

From Pascal Michaillat and Emmanuel Saez: We construct a microfounded, dynamic version of the IS-LM-Phillips curve model by adding two elements to the money-in-the-utility-function model of Sidrauski [1967]. First, real wealth enters the utility function. The resulting Euler equation describes consumption as … Continue reading

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Brad Delong on Economists Working on Equitable Growth

From Brad Delong: Take a look at: Emmanuel Saez “Income Inequality in the United States, 1913-1998″ with Tomas Piketty, Quarterly Journal of Economics, 118(1), 2003, 1-39 (Longer updated version published in A.B. Atkinson and T. Piketty eds., Oxford University Press, 2007) (Tables and … Continue reading

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Migration and wage effects of taxing top earners: Evidence from the foreigners’ tax scheme in Denmark

from Henrik Kleven, Camille Landais, Emmanuel Saez, Esben Schultz: Tax-induced international mobility of talent is a controversial public-policy issue, especially when tax rates differ substantially across countries and migration barriers are low as in the case of the EU. High top-tax … Continue reading

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The Effects of Tax Expenditures on Intergenerational Mobility

An important new project from Chetty, Hendren, Kline, and Saez starts with this paper, which they will be presenting at the NBER today. This paper develops a framework to study the effects of tax expenditures on intergenerational mobility using spatial variation … Continue reading

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Six Reasons to Study Capital Taxation

Here are four reasons from Emmanuel Saez: Capital income is about 25% of national income (labor income is 75%) but distribution of capital income is much more unequal than labor income. Capital income inequality is due to differences in savings behavior but also … Continue reading

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