da Costa, C. E. and Santos, M. R. (2018) Age-dependent taxes with endogenous human capital formation. International Economic Review, 59(2), pp. 785-823. (doi: 10.1111/iere.12288)
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Abstract
We assess the gains attained by the introduction of age-dependent labor income taxes in an overlapping generations economy where individuals live a meaningful life cycle and endogenously accumulate human capital. The model is sufficiently rich to isolate the role of general equilibrium effects, credit market imperfections, and different forms of human capital accumulation. The large welfare gains we obtain cannot be attained without age dependence, nor can they be attained with age-dependent taxes if progressivity of labor income taxes and capital income tax rates are not suitably adjusted to profit from the complementarity of these instruments.
| Item Type: | Articles |
|---|---|
| Additional Information: | Carlos da Costa gratefully acknowledges financial support from CNPq Proc. 307494/2013-6. Marcelo R. Santos gratefully acknowledges financial support from CNPq Proc. 311437/2014-1. |
| Status: | Published |
| Refereed: | Yes |
| Glasgow Author(s) Enlighten ID: | Rodrigues dos Santos, Dr Marcelo |
| Authors: | da Costa, C. E., and Santos, M. R. |
| College/School: | College of Social Sciences > Adam Smith Business School > Economics |
| Journal Name: | International Economic Review |
| Publisher: | Wiley |
| ISSN: | 0020-6598 |
| ISSN (Online): | 1468-2354 |
| Published Online: | 06 February 2018 |
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