000			01923nab a2200325 c 4500
003			ES-MaIEF
005			20190214104214.0
007			ta
008			190214t2019 us ||||| |||| 00| 0|eng d
040			_aES-MaIEF _bspa _cES-MaIEF
041			_aeng
100	1		_966971 _aCondie, Scott S.
245		0	_aNatural limits of wealth inequality and the effectiveness of tax policy _c Scott S. Condie, Richard W. Evans and Kerk L. Phillips
260			_c2019
500			_aDisponible también en formato electrónico a través de la Biblioteca del IEF.
500			_aResumen.
504			_aBibliografía.
520			_aThis article examines Thomas Piketty’s thesis that there are no natural limits on the accumulation of wealth. We undertake our examination in the context of a simple general equilibrium model with infinitely lived dynasties. We show that extreme wealth accumulation does not happen in general equilibrium unless capital and labor are substitutes, an assumption which also leads to unbalanced growth. We also show that even with unbalanced growth, differences in rates of return and effective labor are not sufficient to cause unbounded inequality. Only permanent savings rate differences can lead to extreme wealth concentration. Finally, we show that while a flat wealth tax will not eliminate extreme wealth concentration, both a graduated wealth tax and a flat income tax will.
650		4	_950200 _aRENTA
650		4	_98496 _aDISTRIBUCION
650		4	_942588 _aDESIGUALDAD
650		4	_947460 _aIMPUESTOS
650		4	_948067 _aPOLITICA FISCAL
650		4	_947776 _aMODELOS ECONOMETRICOS
700	1		_966972 _aEvans, Richard W.
700	1		_966973 _aPhillips, Kerk L.
773	0		_9158688 _oOP 581/2018/1 _tPublic Finance Review _w(IEF)21382 _x 0048-5853 _g v. 47, n. 1, January 2019, p. 32-57
856			_uhttps://journals.sagepub.com/doi/pdf/10.1177/1091142117707970
942			_cART
999			_c139909 _d139909