by Summary:
Greg Mankiw offers a simple example to establish that a reduction in the tax rate on capital income (in a closed economy) raises wages in the long run. John Cochrane patiently typed the solution. And Larry Summers argues on his blog that US realities are not well captured by Mankiw’s example.
Topics:
Dirk Niepelt considers the following as important: Capital income, Capital income tax, Notes, United States, Wage
This could be interesting, too:
Greg Mankiw offers a simple example to establish that a reduction in the tax rate on capital income (in a closed economy) raises wages in the long run. John Cochrane patiently typed the solution. And Larry Summers argues on his blog that US realities are not well captured by Mankiw’s example.
Topics:
Dirk Niepelt considers the following as important: Capital income, Capital income tax, Notes, United States, Wage
This could be interesting, too:
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Greg Mankiw offers a simple example to establish that a reduction in the tax rate on capital income (in a closed economy) raises wages in the long run. John Cochrane patiently typed the solution. And Larry Summers argues on his blog that US realities are not well captured by Mankiw’s example.