Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/172471 
Erscheinungsjahr: 
2017
Schriftenreihe/Nr.: 
IMFS Working Paper Series No. 118
Verlag: 
Goethe University Frankfurt, Institute for Monetary and Financial Stability (IMFS), Frankfurt a. M.
Zusammenfassung: 
The level of capital tax gains has high explanatory power regarding the question of what drives economic inequality. On this basis, the authors develop a simple, yet micro-founded portfolio selection model to explain the dynamics of wealth inequality given empirical tax series in the US. The results emphasize that the level and the transition of speed of wealth inequality depend crucially on the degree of capital taxation. The projections predict that - continuing on the present path of capital taxation in the US - the gap between rich and poor is expected to shrink whereas "massive" tax cuts will further increase the degree of wealth concentration.
Schlagwörter: 
wealth inequality
US top-wealth shares
capital taxation
Fokker-Planck equation
Kalman Filter
JEL: 
D31
H23
G11
Persistent Identifier der Erstveröffentlichung: 
Dokumentart: 
Working Paper

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