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Progressive Estate Taxation / Emmanuel Farhi, Ivan Werning.
- Format:
- Book
- Author/Creator:
- Farhi, Emmanuel.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w12600.
- NBER working paper series no. w12600
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2006.
- Summary:
- For an economy with altruistic parents facing productivity shocks, the optimal estate taxation is progressive: fortunate parents should face lower net returns on their inheritances. This progressivity reflects optimal mean reversion in consumption, which ensures that a long-run steady state exists with bounded inequality - avoiding immiseration.
- Notes:
- Print version record
- October 2006.
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