Conference Agenda
Overview and details of the sessions of this conference.
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Some information on the session logistics:
If not stated otherwise, the discussant is the following speaker, with the first speaker being the discussant of the last paper. The last speaker of each session is the session chair. (Exception: invited sessions)
Presenters should speak for no more than 20 minutes, and discussants should limit their remarks to no more than 5 minutes. The remaining time should be reserved for audience questions and the presenter’s responses. We suggest following these guidelines also in the (less common) 3-paper sessions in a 2-hour slot, to allow participants to move between sessions. Discussants are encouraged to avoid summarizing the paper. By focusing on a few questions and comments, the discussants can help start a broader discussion with the audience.
Only registered participants can attend this conference. Further information available on the congress website https://www.iseg.ulisboa.pt/en/event/iipf/ .
Venue address: ISEG - Lisbon School of Economics & Management, R. Francesinhas 21, 1200-675 Lisboa, Portugal
Please note that all times are shown in the time zone of the conference. The current conference time is: 17th Sept 2026, 11:40:24am WEST
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Daily Overview |
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B02: Optimal Capital, Wealth, and Entrepreneurial Taxation Location: Room 102 (Francesinhas 1) | |
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Should We Tax Capital Income or Wealth? Vrije Universiteit Amsterdam, Netherlands, The The answer is: we should tax capital income, because taxes on capital income impose a non-distorting tax on the risk premium, whereas taxes on wealth do not. This conclusion is derived by analyzing taxes on capital income and wealth in a Merton-Samuelson multiple-period portfolio model with safe and risky assets. Tax reforms are analyzed where taxes on capital income are increased and taxes on wealth are lowered. Such reforms are unambiguously welfare improving with idiosyncratic risk and also welfare improving with aggregate risk if public goods provision is not too inefficiently large. Optimal taxes on capital income and wealth are also derived. Taxes on capital income are used to tax the risk premium, while (negative) taxes on wealth should ensure intertemporal efficiency, which would boil down to a tax a rate of return allowance, joint with a tax on capital income.
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