Economics, Econometrics and Finance
4 years ago

Automation lowers real wages, but capital income tax can help.

Automation and Optimal Capital Income Taxation
Yuuki Maruyama

Paper Summary

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Capital income taxation does not impact real wages. Some types of capital increase wages, while others decrease them through automation. Even with a capital income tax, real wages stay the same because both types of capital decrease. However, a value-added tax reduces real wages. Capital income tax is better for income redistribution than value-added tax.