Replication data for: Optimal Taxation and Debt with Uninsurable Risks to Human Capital Accumulation

Principal Investigator(s): View help for Principal Investigator(s) Piero Gottardi; Atsushi Kajii; Tomoyuki Nakajima

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20110576_data			10/11/2019 11:18:PM
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Project Citation:

Gottardi, Piero, Kajii, Atsushi, and Nakajima, Tomoyuki. Replication data for: Optimal Taxation and Debt with Uninsurable Risks to Human Capital Accumulation. Nashville, TN: American Economic Association [publisher], 2015. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-10-11. https://doi.org/10.3886/E112865V1

Project Description

Summary: We consider an economy where individuals face uninsurable risks to their human capital accumulation and analyze the optimal level of linear taxes on capital and labor income together with the optimal path of government debt. We show that in the presence of such risks, it is beneficial to tax both labor and capital and to issue public debt. We also assess the quantitative importance of these findings, and show that the benefits of government debt and capital taxes both increase with the magnitude of idiosyncratic risks and the degree of relative risk aversion. (JEL D52, H21, H24, H25, H63, J24)

Scope of Project

JEL Classification:
      D52 Incomplete Markets
      H21 Taxation and Subsidies: Efficiency; Optimal Taxation
      H24 Personal Income and Other Nonbusiness Taxes and Subsidies; includes inheritance and gift taxes
      H25 Business Taxes and Subsidies including sales and value-added (VAT)
      H63 National Debt; Debt Management; Sovereign Debt
      J24 Human Capital; Skills; Occupational Choice; Labor Productivity

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Published Versions

V1 [2019-10-11]

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