Zero optimal capital taxation

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Reference no: EM13838208

The Chamley-Judd result of zero optimal capital taxation says that 0 capital taxation are required in order to maximize welfare at the steady state.

The result is 30 years old. Still assuming that we only care about the steady state, what's the literature's take on that? How esoteric is it? Or in other words, are there simple extensions of the model that completely overcome the result?

Reference no: EM13838208

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