Arbeitspapier
Public Investment when Capital is Back - Distributional Effects of Heterogeneous Saving Behavior
We study the impact of heterogeneous saving behavior on the distributional effects of public investment. A capital tax is levied to finance productive public capital in an economy with two types of households: high income households who save dynastically and middle income households who save for retirement. We find that inequality is reduced the higher the capital tax rate and that low rates even constitute a Pareto-improvement. There is thus no clear-cut trade-off between efficiency and inequality: middle income households’ consumption is maximal at a higher capital tax rate than high income households’ consumption.
- Sprache
-
Englisch
- Erschienen in
-
Series: CESifo Working Paper ; No. 4714
- Klassifikation
-
Wirtschaft
Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook: General
Taxation and Subsidies: Externalities; Redistributive Effects; Environmental Taxes and Subsidies
Fiscal Policies and Behavior of Economic Agents: Household
Publicly Provided Goods: General
National Government Expenditures and Related Policies: Infrastructures; Other Public Investment and Capital Stock
- Thema
-
public capital
wealth disparity
inequality
household heterogeneity
Pasinetti Paradox
saving behavior
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Mattauch, Linus
Edenhofer, Ottmar
Klenert, David
Bénard, Sophie
- Ereignis
-
Veröffentlichung
- (wer)
-
Center for Economic Studies and ifo Institute (CESifo)
- (wo)
-
Munich
- (wann)
-
2014
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:43 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
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ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Mattauch, Linus
- Edenhofer, Ottmar
- Klenert, David
- Bénard, Sophie
- Center for Economic Studies and ifo Institute (CESifo)
Entstanden
- 2014
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