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Optimal taxation and debt with uninsurable risks to human capital accumulation

Piero Gottardi (), Atsushi Kajii and Tomoyuki Nakajima ()

No 14-007E, CIGS Working Paper Series from The Canon Institute for Global Studies

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.

New Economics Papers: this item is included in nep-dge, nep-hrm and nep-pbe
Date: 2014-06
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Related works:
Journal Article: Optimal Taxation and Debt with Uninsurable Risks to Human Capital Accumulation (2015) Downloads
Working Paper: Optimal taxation and debt with uninsurable risks to human capital accumulation (2015) Downloads
Working Paper: Optimal taxation and debt with uninsurable risks to human capital accumulation (2014) Downloads
Working Paper: Optimal taxation and debt with uninsurable risks to human capital accumulation (2014) Downloads
Working Paper: Optimal taxation and debt with uninsurable risks to human capital accumulation (2014) Downloads
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