English, Article edition: Optimal Income Taxation with Human Capital Accumulation and Limited Record Keeping Marek Kapicka

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Physical Description
  • article
Language
  • English

Edition details

Title
  • Optimal Income Taxation with Human Capital Accumulation and Limited Record Keeping
Author
  • Marek Kapicka
Physical Description
  • article
Notes
  • This paper characterizes optimal income taxes in a dynamic economy where human capital is unobservable and the government is restricted to use taxes that depend only on current income. I show that unobservability of human capital tends to decrease the labor wedge, while the effect on the human capital wedge is uncertain. I also analyze the relationship between optimal taxes in economies with and without endogenous human capital and identify two qualitative reasons why the optimal tax codes will differ. I perform numerical simulations to calculate the quantitative relevance of endogenous human capital formation for optimal tax policy. I find that endogenous human capital lowers marginal tax rates by about 9% on average, as compared with a static model without human capital. (Copyright: Elsevier)
  • Optimal taxation; Income taxation; Human capital
  • RePEc:red:issued:05-24
Language
  • English
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