English
 
Privacy Policy Disclaimer
  Advanced SearchBrowse

Item

ITEM ACTIONSEXPORT
 
 
DownloadE-Mail
  Is capital back? The role of land ownership and savings behavior

Franks, R. M., Klenert, D., Schultes, A., Lessmann, K., Edenhofer, O. (2018): Is capital back? The role of land ownership and savings behavior. - International Tax and Public Finance, 25, 5, 1252-1276.
https://doi.org/10.1007/s10797-018-9486-3

Item is

Files

show Files
hide Files
:
22333oa.pdf (Postprint), 5MB
Name:
22333oa.pdf
Description:
-
Visibility:
Public
MIME-Type / Checksum:
application/pdf / [MD5]
Technical Metadata:
Copyright Date:
-
Copyright Info:
-
License:
-

Locators

show

Creators

show
hide
 Creators:
Franks, R. Maximilian1, Author              
Klenert, D.2, Author
Schultes, Anselm1, Author              
Lessmann, Kai1, Author              
Edenhofer, Ottmar1, Author              
Affiliations:
1Potsdam Institute for Climate Impact Research, ou_persistent13              
2External Organizations, ou_persistent22              

Content

show
hide
Free keywords: -
 Abstract: Wealth inequality is a major political concern in most OECD countries. Under this premise, we analyze different policy instruments in terms of their impact on wealth inequality and output. In a general equilibrium model, we disaggregate wealth in its capital and land components, and savings in their life-cycle and bequest components. Households are heterogeneous in their taste for leaving bequests. We show that governments have considerable freedom in reducing wealth inequality without sacrificing output: Land rent taxes enhance output due to a portfolio effect and reduce wealth inequality slightly. Bequest taxes have the highest potential to reduce inequality, and their effect on output is moderate. By contrast, we confirm the standard result that capital taxes reduce output strongly and show that they only have moderate redistributive effects. Furthermore, we find that using the tax proceeds for transfers to the young generations enhances output the most and further reduces wealth inequality.

Details

show
hide
Language(s):
 Dates: 2018
 Publication Status: Finally published
 Pages: -
 Publishing info: -
 Table of Contents: -
 Rev. Type: Peer
 Identifiers: DOI: 10.1007/s10797-018-9486-3
PIKDOMAIN: Sustainable Solutions - Research Domain III
eDoc: 8024
Research topic keyword: Economics
Research topic keyword: Inequality and Equity
Organisational keyword: RD3 - Transformation Pathways
Organisational keyword: FutureLab - Public Economics and Climate Finance
Organisational keyword: Director Edenhofer
 Degree: -

Event

show

Legal Case

show

Project information

show

Source 1

show
hide
Title: International Tax and Public Finance
Source Genre: Journal, SCI, Scopus
 Creator(s):
Affiliations:
Publ. Info: -
Pages: - Volume / Issue: 25 (5) Sequence Number: - Start / End Page: 1252 - 1276 Identifier: Other: Springer Science+Business Media B.V.
Other: 1573-6970
ISSN: 0927-5940
CoNE: https://publications.pik-potsdam.de/cone/journals/resource/international-tax-public-finance