Optimal Mirrleesean Taxation in a Ben-Porath Economy
Volume: 7, Issue: 2, Pages: 219 - 248
Published: Apr 1, 2015
Abstract
I characterize optimal taxes in a life-cycle economy where ability and human capital are unobservable. I show that unobservable human capital effectively makes preferences over labor nonseparable across age. I generalize the static optimal tax formulas to account for such nonseparabilities and show how they depend both on own-Frisch labor elasticities and cross-Frisch labor elasticities. I calibrate the economy to US data. I find that the...
Paper Details
Title
Optimal Mirrleesean Taxation in a Ben-Porath Economy
Published Date
Apr 1, 2015
Volume
7
Issue
2
Pages
219 - 248
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