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    • Optimal Capital Versus Labor Taxation with Innovation-Led Growth 

      Aghion, Philippe; Akcigit, Ufuk; Fernández-Villaverde, Jesús (National Bureau of Economic Research Inc, 2012)
      Chamley (1986) and Judd (1985) showed that, in a standard neoclassical growth model with capital accumulation and infinitely lived agents, either taxing or subsidizing capital cannot be optimal in the steady state. In this ...