Non-linear Capital Taxation Without Commitment
研究在政治经济约束下、政策无法承诺时，劳动和资本的非线性最优税收，发现资本收入边际税率对富人更高，即累进性。
We study efficient non-linear taxation of labour and capital in a dynamic Mirrleesian model incorporating political economy constraints. Policies are chosen sequentially over time, without commitment. Our main result is that the marginal tax on capital income is progressive, in the sense that richer agents face higher marginal tax rates.