Tag Archives: Emmanuel Saez

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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The Top 1 Percent in International and Historical Perspective

From Facundo Alvaredo, Anthony B. Atkinson, Thomas Piketty, and Emmanuel Saez: The top 1 percent income share has more than doubled in the United States over the last thirty years, drawing much public attention in recent years. While other English speaking … Continue reading

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