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By promoting economic growth, human capital may contribute to the rise in CO2 emissions, but it may also stimulate emission‐reducing technologies. Starting from a Green Solow model augmented with human capital, we show that the former effect dominates the latter when human capital is below a critical value, while the opposite is true when human capital becomes sufficiently high. We also find that...
Governments redistribute income through taxes, transfers, and public services. Using three key statistics, we characterize the conditions under which nonlinear income taxation is optimally combined with a publicly provided input in economies where individual wages are driven by households' exogenous abilities and unobservable input investments. A universal scheme in which all households opt for a...