This paper reviews recent developments in the theory and practice of optimal capital
taxation. We emphasize three main rationales for capital taxation. First, the frontier between …

This survey discusses how capital should be taxed in advanced economies. We review the
theoretical optimal tax literature, survey empirical studies on the distribution of capital and …

This article uses administrative tax data to estimate top wealth in the United States. We
assemble new data that link people to their sources of capital income and develop new …

This paper discusses the progressive taxation of household wealth. We first discuss what
wealth is, how it is distributed, and how much revenue a progressive wealth tax could …

This paper evaluates proposals for an annual wealth tax. While a dozen OECD countries
levied wealth taxes in the recent past, now only three retain them, with only Switzerland …

We provide a systematic analysis of the properties of individual returns to wealth using 12
years of population data from Norway's administrative tax records. We document a number …

We propose a theory of indebted demand, capturing the idea that large debt burdens lower
aggregate demand, and thus the natural rate of interest. At the core of the theory is the …

How does wealth taxation differ from capital income taxation? When the return on
investment is equal across individuals, a well-known result is that the two tax systems are …

We investigate wealth returns on an administrative panel containing the disaggregated
balance sheets of Swedish residents. The expected return on household net wealth is …

Invariably, across a cross-section of countries and time periods, wealth distributions are
skewed to the right displaying thick upper tails, that is, large and slowly declining top wealth …