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Data from: Optimal Taxation and Debt with Uninsurable Risks to Human Capital Accumulation

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posted on 01.11.2015 by GOTTARDI Piero, Atsushi KAJII, Tomoyuki NAKAJIMA

This record contains the underlying research data for the publication "Optimal Taxation and Debt with Uninsurable Risks to Human Capital Accumulation" and the full-text is available from: https://ink.library.smu.edu.sg/soe_research/1799

We consider an economy where individuals face uninsurable risks to their human capital accumulation and analyze the optimal level of linear taxes on capital and labor income together with the optimal path of government debt. We show that in the presence of such risks, it is beneficial to tax both labor and capital and to issue public debt. We also assess the quantitative importance of these findings, and show that the benefits of government debt and capital taxes both increase with the magnitude of idiosyncratic risks and the degree of relative risk aversion.

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