The stationary wealth distribution under progressive taxation

被引：8

作者：

Carroll, Daniel R. ^{[1
]}

Young, Eric R. ^{[1
]}

机构：

[1] Univ Virginia, Dept Econ, Charlottesville, VA 22904 USA

来源：

REVIEW OF ECONOMIC DYNAMICS | 2009年 / 12卷 / 03期

关键词：

Heterogeneity; Progressive taxation; Wealth distribution; DISCOUNT RATE HETEROGENEITY; IDIOSYNCRATIC RISK; INCOME; GOVERNMENT; ECONOMY; MODEL;

D O I：

10.1016/j.red.2008.09.002

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

This paper considers the long-run distribution of capital holdings in a model with complete asset markets and progressive taxation. Households are assumed to be heterogeneous in their labor market productivity. We show that this model is capable of producing a nondegenerate determinate wealth distribution. However, it also predicts that capital and labor income will be negatively correlated. These results are robust to the introduction of elastic labor supply and borrowing constraints. (C) 2008 Elsevier Inc. All rights reserved.

引用

页码：469 / 478

页数：10

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