Higher tax and less work: reverse “keep up with the joneses” and rising inequality

HIGHLIGHTS

• who: Felix FitzRoy from the School of Economics and Finance, University of St Andrews, St Andrews , AL, UK have published the paper: Higher tax and less work: reverse u201cKeep up with the Jonesesu201d and rising inequality, in the Journal: (JOURNAL)
• what: Assuming a general income distribution the authors show that an optimal tax must be higher under a general social welfare function to not only reduce inefficiency but also inequality. The authors show that an optimal tax rate should always be higher than the externality of income comparison. The authors develop a simple model with . . .
  

   

  

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