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  Infrastructure and inequality: Insights from incorporating key economic facts about household heterogeneity

Klenert, D., Mattauch, L., Edenhofer, O., Lessmann, K. (2018): Infrastructure and inequality: Insights from incorporating key economic facts about household heterogeneity. - Macroeconomic Dynamics, 22, 4, 864-895.
https://doi.org/10.1017/S1365100516000432

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 Urheber:
Klenert, David1, Autor              
Mattauch, L.2, Autor
Edenhofer, Ottmar1, Autor              
Lessmann, K.2, Autor
Affiliations:
1Potsdam Institute for Climate Impact Research, ou_persistent13              
2External Organizations, ou_persistent22              

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 Zusammenfassung: We study the impacts of investment in public capital on equity and efficiency. Taking into account stylized facts on wealth accumulation, we model agent heterogeneity through differences in saving behavior, income source and time preference. We find that in the long run, public investment is Pareto-improving and that it reduces inequality in wealth, welfare, and income at the same time, if it is financed by a capital tax. Consumption tax financing is also Pareto-improving but distribution-neutral. Only for labor tax financing, a trade-off between equity and efficiency occurs. Additionally, we find that agents differ in their preferred tax rates.The results for capital and labor tax financing are valid for both, the case of decreasing and constant returns to accumulable factors.

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 Datum: 2018
 Publikationsstatus: Final veröffentlicht
 Seiten: -
 Ort, Verlag, Ausgabe: -
 Inhaltsverzeichnis: -
 Art der Begutachtung: Expertenbegutachtung
 Identifikatoren: DOI: 10.1017/S1365100516000432
PIKDOMAIN: Sustainable Solutions - Research Domain III
eDoc: 7271
Research topic keyword: Economics
Research topic keyword: Inequality and Equity
Organisational keyword: RD3 - Transformation Pathways
Working Group: Climate & Energy Policies
 Art des Abschluß: -

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Titel: Macroeconomic Dynamics
Genre der Quelle: Zeitschrift, SCI, Scopus
 Urheber:
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Ort, Verlag, Ausgabe: -
Seiten: - Band / Heft: 22 (4) Artikelnummer: - Start- / Endseite: 864 - 895 Identifikator: Anderer: Cambridge University Press
Anderer: 1469-8056
ISSN: 1365-1005
CoNE: https://publications.pik-potsdam.de/cone/journals/resource/macroeconomic-dynamics