000			01250nam a22001577a 4500
999			_c517405 _d517405
008			210714b ||||| |||| 00| 0 eng d
100			_aBenhabib, Jess and Szoke, Balint _926607
245			_aOptimal positive capital taxes at interior steady states
260			_a American Economic Journal: Macroeconomics
300			_a13(1), Jan, 2021: p.114-150
520			_aWe generalize recent results of Bassetto and Benhabib (2006 ) and Straub and Werning (2019 ) in a neoclassical model with endogenous labor-leisure choice where all agents are allowed to save and accumulate capital. We provide a sufficient condition under which optimal redistributive capital taxes remain at their allowed upper bound forever, even if the resulting equilibrium trajectory converges to a unique steady state with positive and finite consumption, capital, and labor. We then provide an interpretation of our sufficient condition. Using recent evidence on wealth distribution in the United States, we argue that our sufficient condition is empirically plausible. – Reproduced
650			_aConsumption; Saving; Wealth, Taxation and Subsidies, Optimal Taxation _926608
773			_aAmerican Economic Journal: Macroeconomics
906			_aTAXATION
942			_cAR