This article reviews recent advances in the study of dynamic taxation, considering three
main approaches: the dynamic Mirrlees, the parametric Ramsey, and the sufficient statistics …

This paper derives optimal income tax and human capital policies in a life cycle model with
risky human capital. The government faces asymmetric information regarding agents' ability …

Rising costs of and returns to college have led to sizeable increases in the demand for
student loans in many countries. In the USA, student loan default rates have also risen for …

The misallocation of talent in innovation–“missing Einsteins”–has a first-order impact on
growth and welfare. Surname-level empirical analysis combining inventor and census micro …

We study the optimal design of integrated education finance and tax systems. The
distribution of wages is endogenously determined by the costly education decisions of …

The dynamic public finance literature underwent significant changes over the past decade.
This research agenda has now reached a stage at which it is able to analyze the design of …

This article was prepared for an invited session at the 2015 World Congress of the
Econometric Society. Through a unifying framework, I survey recent developments in the …

The misallocation of talent between routine production versus innovation activities is shown
to have a first-order impact on the welfare and growth prospects of an economy. Surname …

This paper characterizes optimal labor income taxes that depend on age, household assets,
and filing status (one or two earners) within a life-cycle model with heterogeneous, two …

I characterize optimal taxes in a life-cycle economy where ability and human capital are
unobservable. I show that unobservable human capital effectively makes preferences over …