Revisiting the classical view of benefitbased taxation. In addition to our focus on allocation and e ciency, our analysis departs from the literature in several other ways. Public economics this paper addresses the modern optimal tax progressivity literature, which clarifies the key role of the behavioral response to taxation and accounts for the incomes of the superrich being qualitatively different than others. Working paper 18471 national bureau of economic research. Chamleyjudd revisited with ludwig straub seminar slides.
We develop a framework for optimal taxation when agents can earn their income both in traditional activities, where private and social products coincide, and in rentseeking activities, where private returns exceed social returns either because they involve the capture of. The taxation of superstars by florian scheuer, ivan. We find that optimal marginal capital taxes are either progressive or ushaped, so that savings are. Florian scheuer 4222014 government intervention in health insurance markets 1 overview health care institutional overview. Popular acceptance of inequality due to innate brute luck.
The views expressed herein are those of the authors and not necessarily those of the federal. Capital taxation under political constraints american. Entrepreneurial taxation with endogenous entry american. I am grateful to manuel amador, briana chang, veronica guerrieri, peter kondor, erik madsen, michael ostrovsky, monika piazzesi, florian scheuer, martin schneider, alp simsek, andy skrzypacz, three anonymous referees, and various seminar participants for helpful comments. D5,d6,d8,e2,h2,j3 abstract we develop a unifying framework for optimal income taxation in multisector economies with general patterns of externalities. Nonlinear tax incidence and optimal taxation in general. A tale of three elasticities thomas piketty, emmanuel saez, and stefanie stantcheva a. See all articles by florian scheuer florian scheuer. I am grateful to manuel amador, briana chang, veronica guerrieri, peter kondor, erik madsen, michael ostrovsky, monika piazzesi, florian scheuer, martin schneider, alp simsek, andy skrzypacz, three anonymous referees, and various seminar participants for.
A randomized placebocontrolled trial author links open overlay panel florian wepner a raphael scheuer a birgit schuetzwieser a peter machacek a elisabeth pielerbruha a heide s. Effects of vitamin d on patients with fibromyalgia. I analyze the optimal taxation of profits and labor income under endogenous firm formation. Perfect competition in markets with adverse selection. A theory of income taxation under multidimensional skill heterogeneity casey rothschild and florian scheuer nber working paper no. Popular acceptance of inequality due to innate brute luck and support for classical benefitbased taxation. A theory of income taxation under multidimensional skill heterogeneity, nber working papers 19822, national bureau of. In particular, he has worked on incorporating important features of realworld labor markets into the design of optimal income and wealth taxes. For instance, he has examined the determinants of top incomes, such as the top one percent, whose share of total income has rapidly expanded over the past decades in several developed countries.
Robustness and separation in multidimensional screening. Labor mobility within currency unions click for slides with emmanuel farhi. Capital taxation under political constraints by florian scheuer and alexander wolitzky. Full issue download pdf aea members only find articles in this issue. A game theoretic foundation of competitive equilibria with adverse selection. A policy will be reformed ex post if a large enough political coalition supports reform. Florian scheuer was appointed to the professorship of economics of institutions, endowed by the ubs center, in 2017. A game theoretic foundation of competitive equilibria with. Published in volume 6, issue 2, pages 12663 of american economic journal. Capital taxation under political constraints by florian.
Entrepreneurial taxation with endogenous entry by florian scheuer. This requires the development of a theory of labor supply under uncertainty. The case of the affordable care act by florian scheuer and kent smetters. Rochet 1991 showed that with distortionary income taxes, social insurance is a desirable redistributive device when risk and ability are negatively correlated. This paper studies optimal dynamic tax policy under the threat of political reform. This paper derives optimal top tax rate formulas in a model where top earners respond to taxes through three channels. Professor scheuers inaugural lecture was open to the public and was followed by a cocktail reception in the lichthof. See all articles by casey rothschild casey rothschild.
Taxation and the superrich by florian scheuer, joel b. Florian scheuer s most recent research investigates the policy implications of rising income and wealth inequality, with a focus on tax policy. Scheuer, florian and slemrod, joel, taxation and the superrich. A theory of income taxation under multidimensional skill heterogeneity, lse research online documents on economics 58026, london school of economics and political science, lse library. We present empirical evidence consistent with bargaining effects. Heckman, emir kamenica, greg kaplan, john list, magne mogstad, and chad syverson. Edited at harvard universitys department of economics, it covers all aspects of the field from the journals traditional emphasis on microtheory, to both empirical and theoretical macroeconomics. To answer this question, we extend the mirrlees model to incorporate an assignment problem in the labor market that generates superstar effects. Scheuer and that quantifying the general equilibrium e ects they would cause is di cult. Individuals can take actions influencing the size of the loss in the event of accident or ill. University of zurich department of economics schonberggasse 1 8001 zurich, switzerland phone. Effects of vitamin d on patients with fibromyalgia syndrome.
Nonetheless, large subsidies and taxes have the potential to enhance e ciency much more dramatically than a standard, nonlinear income tax. Optimal taxation with rentseeking, nber working papers 17035, national bureau of economic research, inc. A theory of income taxation under multidimensional skill. We develop a framework for optimal taxation when agents can earn their income both in traditional activities, where private and social products coincide, and in rentseeking activities, where private returns exceed social returns either because they involve the capture of preexisting rents or because they reduce the returns to traditional work. Taxation and the superrich by florian scheuer, joel slemrod ssrn.
Research article full text access adverse selection in credit markets and regressive profit taxation. Optimal taxation with rentseeking by casey rothschild. Social insurance and redistribution with moral hazard and. Torsten persson, ronny razin, james robinson, florian scheuer, holger sieg, joel slemrod, ugo troiano, and the participants in numerous seminars and. Florian scheuer stanford university and nber revised version april 2012 abstract we develop a framework for optimal income taxation when agents can choose between working in a traditional sector, where private and social products coincide, and a rentseeking sector, where the private returns to effort exceed the social returns. Capital taxation under political constraints december 18, 2014. We examine optimal taxation and social insurance if insurance markets are imperfect. Rothschild, casey and scheuer, florian, optimal taxation. He is a codirector of the working group on macro public finance mpf at the national bureau of economic research nber in cambridge, and a research fellow of the centre for economic policy research cepr in london and the. Tax reform and the political economy of the tax base sciencedirect. Asset markets with heterogeneous information kurlat. James peck, richard rogerson, florian scheuer, ctirad slavik, kjetil storesletten, aleh tsyvinski, gianluca violante, yuichiro waki, matthew weinzierl, tomoaki yamada, and three anonymous referees for helpful comments.
Optimal taxation with rentseeking, cesifo working paper series 5071, cesifo group munich. Revisiting the classical view of benetbased taxation matthew weinzierl january 29, 2016 abstract this paper explores how the persistently popular classical logic of benet based taxation, in which an individuals benet from public goods is tied to his or her incomeearning ability, can be incorporated into modern optimal tax theory. Andre chiappori, alex citanna, vitor farinha luz, matt gentzkow, piero gottardi, nathan hendren, bengt holmstrom, jonathan kolstad, lucas maestri, humberto moreira, roger. A theory of income taxation under multidimensional skill heterogeneity, sticerd public economics programme discussion papers 19, suntory and toyota international centres for economics and related disciplines, lse. Published in volume 10, issue 4, pages 30243 of american economic journal. In particular, it allows firms to offer any finite set of contracts, so. Adverse experiences and chronic stress are wellknown risk factors for the development of major depression, and an impaired stress response regulation is frequently observed in acute depression. Competitive markets without commitment by nick netzer and florian scheuer download pdf 225 kb. Competitive markets without commitment request pdf. Impaired glucocorticoid receptor gr signalling plays an important role in these alterations, and a restoration of gr signalling appears to be a prerequisite of successful antidepressant treatment. We document that states that experienced website glitches. Article is made available in accordance with the publishers policy and may be subject to us law.
This paper has greatly benefited from comments from in random order richard holden, dawen meng, peter klibanoff, andy skrzypacz, jean tirole, alex wolitzky, nima haghpanah, paul milgrom, takuo sugaya, drew fudenberg, alejandro manelli, eric maskin. Florian scheuers most recent research investigates the policy implications of rising income and wealth inequality, with a focus on tax policy. The quarterly journal of economics qje is the oldest professional journal of economics in the english language. Florian scheuer we construct a fully specified extensive form game that captures competitive markets with adverse selection. Taxation and the superrich florian scheuer, joel slemrod. The optimal top tax rate increases when there are zerosum compensationbargaining effects. Francois maniquet, david moss, eric nelson, michael norton, julio rotemberg, florian scheuer, hannah shaffer, itai sher, and stefanie stantcheva for their insightful discussions. He is interested in the policy implications of rising inequality, with a focus on tax policy. Alexandre poirier, jim poterba, andr es rodr guezclare, jesse rothstein, greg rosston, florian scheuer, john shoven, orie shelef, reed walker, dan wilson, danny yagan, shuang zhang, and eric zwick for helpful comments and suggestions. His work in public finance focuses on inequality and tax policy. Fkbp5 gene expression predicts antidepressant treatment.
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