Optimal taxation and debt  with uninsurable risks  to human capital accumulation

dc.contributor.author	GOTTARDI, Piero
dc.contributor.author	KAJII, Atsushi
dc.contributor.author	NAKAJIMA, Tomoyuki
dc.date.accessioned	2014-07-08T14:37:25Z
dc.date.available	2014-07-08T14:37:25Z
dc.date.issued	2014
dc.identifier.issn	1725-6704
dc.identifier.uri	https://hdl.handle.net/1814/32016
dc.description.abstract	We consider an economy where individuals face uninsurable risks to their human capital accumulation, and study the problem of determining the optimal level of linear taxes on capital and labor income together with the optimal path of the debt level. We show both analytically and numerically that in the presence of such risks it is bene cial to tax both labor and capital income and to have positive government debt.	en
dc.format.mimetype	application/pdf
dc.language.iso	en	en
dc.relation.ispartofseries	EUI ECO	en
dc.relation.ispartofseries	2014/08	en
dc.relation.hasversion	http://hdl.handle.net/1814/38586
dc.rights	info:eu-repo/semantics/openAccess	en
dc.subject	Ramsey equilibrium	en
dc.subject	Optimal taxation	en
dc.subject	Incomplete markets	en
dc.subject	Optimal public debt	en
dc.subject	D52	en
dc.subject	D60	en
dc.subject	D90	en
dc.subject	E20	en
dc.subject	E62	en
dc.subject	H21	en
dc.subject	O40	en
dc.title	Optimal taxation and debt with uninsurable risks to human capital accumulation	en
dc.type	Working Paper	en
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