Zero Expected Wealth Taxes: A Mirrlees Approach to Dynamic Optimal Taxation
研究政府需为随机支出融资的动态经济，在技能随机演化且私人信息下，构建了线性财富税但可非线性于劳动收入的税收体系，发现预期财富税率为零且政府不从财富税中获取净收入。
In this paper, I consider a dynamic economy in which a government needs to finance a stochastic process of purchases. The agents in the economy are privately informed about their skills, which evolve stochastically over time; I impose no restriction on the stochastic evolution of skills. I construct a tax system that implements a symmetric constrained Pareto optimal allocation. The tax system is constrained to be linear in an agent's wealth, but can be arbitrarily nonlinear in his current and past labor incomes. I find that wealth taxes in a given period depend on the individual's labor income in that period and previous ones. However, in any period, the expectation of an agent's wealth tax rate in the following period is zero. As well, the government never collects any net revenue from wealth taxes. Copyright The Econometric Society 2005.