Redistributive Capital Taxation Revisited

• 成果类型: Article
• 署名作者: Kina, Ozlem; Slavik, Ctirad; Yazici, Hakki
• 署名单位: University of Edinburgh; Czech Academy of Sciences; Economics Institute of the Czech Academy of Sciences; Charles University Prague; Czech Academy of Sciences; University of Bristol
• 刊物名称: AMERICAN ECONOMIC JOURNAL-MACROECONOMICS
• ISSN/ISSBN: 1945-7707
• DOI: 10.1257/mac.20200395
• 发表日期: 2024
• 页码: 182-216
• 关键词: skill complementarity; INEQUALITY; income; tax; INVESTMENT; demand; POLICY; RISK

摘要

This paper uses a rich quantitative model with endogenous skill acquisition to show that capital-skill complementarity provides a quantitatively significant rationale to tax capital for redistributive governments. The optimal capital income tax rate is 67 percent , while it is 61 percent in an identically calibrated model without capital-skill complementarity. The skill premium falls from 1.9 to 1.84 along the transition following the optimal reform in the capital-skill complementarity model , implying substantial indirect redistribution from skilled to unskilled workers. These results show that a redistributive government should take into account capital-skill complementarity when taxing capital. ( JEL D31, H21, H23, H24, H25, J24, J31 )