Tag Archives: Redistribution

Optimal Wealth Taxation: Redistribution and Political Economy

Posted on July 5, 2014 by

Here are a few interesting links from Ivan Werning on capital taxation, Piketty, and political economy. 1. Optimal Wealth Taxation: Redistribution and Political Economy – slides from his plenary at SED 2014 2. A Reappraisal of Chamley-Judd Zero Capital Taxation … Continue reading →

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Optimal Tax Progressivity: An Analytical Framework

Posted on February 17, 2014 by

From Jonathan Heathcote, Kjetil Storesletten, Giovanni Violante: What shapes the optimal degree of progressivity of the tax and transfer system? On the one hand, a progressive tax system can counteract inequality in initial conditions and substitute for imperfect private insurance … Continue reading →

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A Theory of Macroprudential Policies in the Presence of Nominal Rigidities

Posted on August 12, 2013 by

From Emmanuel Farhi and Iván Werning, We provide a unifying foundation for macroprudential policies in financial markets for economies with nominal rigidities in goods and labor markets. Interventions are beneficial because of an aggregate demand externality. Ex post, the distribution of … Continue reading →

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The Two Step Inequality Problem

Posted on April 22, 2013 by

An interesting experiment recently showed that we have a two step inequality problem. First, many underestimate the extent and growth of inequality in the US over the past few decades. Showing them information and charts about these trends and where … Continue reading →

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How Elastic Are Preferences for Redistribution?

Posted on March 11, 2013 by

Ilyana Kuziemko, Michael Norton, Emmanuel Saez, & Stefanie Stantcheva have a new NBER paper on inequality and preferences for redistribution: “This paper analyzes the effects of information about inequality and taxes on preferences for redistribution using randomized online surveys on … Continue reading →

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Fiscal Policy and MPC Heterogeneity

Posted on February 27, 2013 by

Tullio Jappelli and Luigi Pistaferri have a recent paper called Fiscal Policy and MPC Heterogeneity. Here’s an interesting figure from it that shows how MPC varies by cash-on-hand: They aren’t the only ones who document MPC heterogeneity. Dynan, Skinner, Zeldes  have a … Continue reading →

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Tax Cuts for Whom? Do tax changes for high income taxpayers generate more growth than similarly sized tax changes for lower income taxpayers?

Posted on February 14, 2013 by

        This figure, which is from a recently revised and submitted paper of mine, shows how the multiplier varies across the income distribution. It shows that equivalently sized tax changes for lower income groups have larger macroeconomic impacts on … Continue reading →

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