The Econometric SocietyEdited by: Guido W. Imbens • Print ISSN: 0012-9682 • Online ISSN: 1468-0262
Econometrica: Jan, 1986, Volume 54, Issue 1
https://doi.org/0012-9682(198601)54:1<87:PALITA>2.0.CO;2-V
p. 87-94
Richard M. Peck
This paper amends the Aumann and Kurz single commodity "Power and Taxes" model in several ways: A linear production technology is assumed, incentive effects are introduced, and tax schedules are restricted to be linear. A theorem is stated which characterizes the linear tax schedules which are the NTU solutions of the model. The solutions of an example are computed, providing a perspective on a result of the Aumann and Kurz model that equilibrium marginal tax rates are not less than 50 per cent. For this example, equilibrium marginal tax rates are less than 50 per cent; incentive effects appear to be responsible for the low tax rates.
March 5, 2024
The terms of the Editors of the Econometric Society's three journals end June 30, 2025. We are pleased to announce the incoming Editors and to thank the outgoing Editors for their excellent and continuing service.
Econometrica: Since 2019, Guido Imbens has served as the 14th Editor of Econometrica. On July 1, 2025, Marina Halac will become the Editor.
Quantitative Economics: Stéphane Bonhomme has been the Editor of Quantitative Economics since 2021. His successor will be Bernard Salanié.
Theoretical Economics: The Editor of Theoretical Economics since 2021 has been Simon Board. Taking over for him in July 2025 will be Federico Echenique.
Guido, Stéphane, and Simon have been outstanding Editors. We are grateful to them for the work they have done and will continue to do, and we look forward to further congratulating them next year. We believe Marina, Bernard, and Federico will be outstanding successors and we thank them in advance for their service.
Finally, we are grateful to Larry Samuelson for chairing all three search committees, and we thank the search committee members for their hard and fruitful work:
Econometrica: Christian Dustmann, Lars Hansen, Alessandro Lizzeri, George Mailath, Ariel Pakes, Helene Rey, and Elie Tamer.
QE: Kate Ho, Michael Keane, Felix Kubler, Whitney Newey, and Frank Schorfheide.
TE: Jeff Ely, Johannes Horner, Gilat Levy, Meg Meyer, and Ran Spiegler.
