Infrastructure and inequality

dc.contributor.authorKlenert, David Christian
dc.contributor.authorMattauch, Linus
dc.contributor.authorEdenhofer, Ottmar
dc.contributor.authorLessmann, Kai
dc.date.accessioned2017-01-20T15:46:36Z
dc.date.available2017-01-20T15:46:36Z
dc.date.issued2016
dc.description.abstractWe 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.en
dc.identifier.eissn1469-8056
dc.identifier.issn1365-1005
dc.identifier.urihttp://depositonce.tu-berlin.de/handle/11303/6118
dc.identifier.urihttp://dx.doi.org/10.14279/depositonce-5693
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.otherinfrastructureen
dc.subject.otherdistributionen
dc.subject.otherinequalityen
dc.subject.otherheterogeneous savingen
dc.titleInfrastructure and inequalityen
dc.title.subtitleinsights from incorporating key economic facts about household heterogeneityen
dc.typeArticleen
dc.type.versionacceptedVersionen
dcterms.bibliographicCitation.doi10.1017/S1365100516000432en
dcterms.bibliographicCitation.journaltitleMacroeconomic dynamicsen
dcterms.bibliographicCitation.originalpublishernameCambridge Univ. Pressen
dcterms.bibliographicCitation.originalpublisherplaceCambridgeen
tub.accessrights.dnbdomainen
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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