On Income and Wealth Taxation in a Life‐Cycle Model with Extensive Labour Supply
在一个考虑广泛劳动供给的生命周期模型中，研究了非线性收入税和线性财富税，发现财富税可作为收入税的补充再分配工具，且当永久收入与终身储蓄正相关时，财富税能提高社会福利。
In a stationary life‐cycle model with extensive labour supply, two forms of taxation are studied: non‐linear income taxation and linear wealth taxation. In the life‐cycle model, the social weights of the dynasties depend on their permanent incomes, not on the observed taxable current income. A tax on wealth then can complement income tax as a redistributive tool. The derivative of social welfare with respect to the wealth tax rate at the no‐tax point is computed. It is positive whenever permanent income is positively correlated with aggregate life time savings. This result is illustrated on a numerical example.