| 000 | 01590nab a2200277 c 4500 | ||
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_c149569 _d149569 |
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| 003 | ES-MaIEF | ||
| 005 | 20240603185905.0 | ||
| 007 | ta | ||
| 008 | 240603t2024 us ||||| |||| 00| 0|us d | ||
| 040 |
_aES-MaIEF _bspa _cES-MaIEF |
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| 100 | 1 |
_971788 _aDeng, Minjie |
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| 245 | 0 |
_aInequality, taxation and sovereign default risk _c by Minjie Deng |
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| 500 | _aResumen. | ||
| 504 | _aBibliografía. | ||
| 520 | _aIncome inequality and worker migration significantly affect sovereign default risk. Governments often impose progressive taxes to reduce inequality, which redistribute income but discourage labor supply and induce emigration. Reduced labor supply and a smaller high-income workforce erode the current and future tax base, reducing government's ability to repay debt. I develop a sovereign default model with endogenous nonlinear taxation and heterogeneous labor to quantify this effect. In the model, the government chooses the optimal combination of taxation and debt, considering its impact on workers' labor and migration decisions. Income inequality accounts for one-fifth of the average US state government spread. | ||
| 650 | 4 |
_aIMPUESTOS _947460 |
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| 650 | 4 |
_aINGRESOS FISCALES _947378 |
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| 650 | 4 |
_aDEFICIT PUBLICO _941783 |
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| 650 | 4 |
_aDESIGUALDAD _942588 |
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| 650 | 4 |
_948219 _aREDISTRIBUCION |
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| 650 | 4 |
_948349 _aSALARIOS |
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| 650 | 4 |
_943413 _aEMIGRACION |
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| 650 | 4 |
_947776 _aMODELOS ECONOMETRICOS |
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| 773 | 0 |
_9171817 _oOP 2137/2024/2 _tAmerican Economic Journal : Macroeconomics _w(IEF)64915 _x 1945-7707 _g v. 16, n. 2, April 2024, p. 217-249 |
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| 942 | _cART | ||