This paper reviews recent advances in the theory of optimal policy in a dynamic Mirrlees
setting, and contrasts this approach to the one based on the representative-agent Ramsey …

In every society for which we have data, people's educational achievement is positively
correlated with their parents' education or with other indicators of their parents' socio …

We study the optimal trade‐off between commitment and flexibility in a consump‐tion–
savings model. Individuals expect to receive relevant information regarding tastes and thus …

We lay down a standard macroeconomic model of a small open economy with a fixed
exchange rate and study optimal capital controls (defined as maximizing the utility of a …

In this chapter, I review empirical and theoretical literature on taxation of intergenerational
transfers (estates, bequests, inheritances, inter vivos gifts) and wealth. The main message …

Optimal tax design attempts to resolve a well-known trade-off: namely, that high taxes are
bad insofar as they discourage people from working, but good to the degree that, by …

We present a model with altruistic parents and heterogeneous productivity. We derive two
key properties for optimal estate taxation. First, the estate tax should be progressive, so that …

We explore steady-state inequality in an intergenerational model with altruistically linked
individuals who experience privately observed taste shocks. When the welfare function …

We study efficient non-linear taxation of labour and capital in a dynamic Mirrleesian model
incorporating political economy constraints. Policies are chosen sequentially over time …

Using a model with constant relative risk-aversion preferences, endogenous labor supply
and partial insurance against idiosyncratic wage risk, this paper provides an analytical …