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Optimal Taxes on Capital in the OLG Model with Uninsurable Idiosyncratic Income Risk
We characterize the optimal linear tax on capital in an Overlapping Generations model with two period lived households facing uninsurable idiosyncratic labor income risk. The Ramsey government internalizes the general ...
Asset Pricing in OLG Economies With Borrowing Constraints and Idiosyncratic Income Risk
This paper analyzes how the combination of borrowing constraints and idiosyncratic risk affects the equity premium in an overlapping generations economy. I find that introducing a zero-borrowing constraint in an economy ...