In this study, we examine the effects of capital taxation on innovation and economic growth
in an R&D-based growth model. We find that capital taxation has drastically different effects …

This paper considers a model of linear capital taxation for an economy where capital and
labor income are subject to idiosyncratic uninsurable risk. To keep the model tractable, we …

Studies on optimal capital taxation and redistribution within the neoclassical growth model
found that the equilibrium tax rate is not zero when the government cannot commit to its …

• Nous montrons que l'incohérence dynamique de politiques optimales ne résulte que de
l'hypothèse peu réaliste selon laquelle une expropriation de droits de propriété ou un défaut …

Fools try to prove that they are right. Wise men try to find when they are wrong. Many men
have the 'courage of their opinions,'few the courage to abandon opinions. The little man …

It has been proved by R. Brockett that, contrary to the case of linear systems, there exist
small-time locally controllable nonlinear systems that can not be stabilized by means of …

One famous result in the theory of capital income taxation is that the optimal tax is zero in
equilibrium (Chamley, Econometrica 54 (3): 607–622, 1986; Judd, J. Public Econ. 28: 59 …

A well-known result in public economics is that capital income should not be taxed in the
long run. This result has been derived using necessary optimality conditions for an …

The problem of dynamic optimal taxation is one of the important issues in macroeconomics
and public finance theory. In their influential studies Chamley [1] and Judd [2] establish that …