Distributional effects of public investment when wealth and classes are back

dc.contributor.authorMattauch, Linus
dc.contributor.authorEdenhofer, Ottmar
dc.contributor.authorKlenert, David Christian
dc.contributor.authorBénard, Sophie
dc.date.accessioned2017-01-19T11:06:29Z
dc.date.available2017-01-19T11:06:29Z
dc.date.issued2016
dc.description.abstractIn developed economies, wealth inequality is high, while public capital is underprovided. Here, we study the impact of heterogeneity in saving behavior and income sources 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 is and that low tax rates are Pareto-improving. There is no clear-cut trade-off between efficiency and equality: middle income households' consumption is maximal at a capital tax rate that is higher than the rate which maximizes high income households' consumption.en
dc.identifier.eissn1467-999X
dc.identifier.issn0026-1386
dc.identifier.urihttp://depositonce.tu-berlin.de/handle/11303/6116
dc.identifier.urihttp://dx.doi.org/10.14279/depositonce-5691
dc.language.isoenen
dc.relation.ispartof10.14279/depositonce-5567
dc.rights.urihttp://rightsstatements.org/vocab/InC/1.0/en
dc.subject.ddc330 Wirtschaftde
dc.subject.ddc336 Öffentliche Finanzende
dc.subject.otherpublic capitalen
dc.subject.otherwealth disparityen
dc.subject.otherinequalityen
dc.subject.otherhousehold heterogeneityen
dc.subject.otherPasinetti Theoremen
dc.subject.othersaving behavioren
dc.titleDistributional effects of public investment when wealth and classes are backen
dc.typeArticleen
dc.type.versionacceptedVersionen
dcterms.bibliographicCitation.doi10.1111/meca.12117en
dcterms.bibliographicCitation.issue3en
dcterms.bibliographicCitation.journaltitleMetroeconomicaen
dcterms.bibliographicCitation.originalpublishernameWiley-Blackwellen
dcterms.bibliographicCitation.originalpublisherplaceOxford [u.a.]en
dcterms.bibliographicCitation.pageend629en
dcterms.bibliographicCitation.pagestart603en
dcterms.bibliographicCitation.volume67en
tub.accessrights.dnbdomain*
tub.affiliationFak. 6 Planen Bauen Umwelt>Inst. Landschaftsarchitektur und Umweltplanungde
tub.affiliation.facultyFak. 6 Planen Bauen Umweltde
tub.affiliation.instituteInst. Landschaftsarchitektur und Umweltplanungde
tub.publisher.universityorinstitutionTechnische Universität Berlinen
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