Abstract The standard models with incomplete markets (e.g. Aiyagari) have difficulty justifying the current income tax rates as an optimal or political equilibrium outcome. Given the highly skewed income distribution, the majority of the population would be in favor of raising taxes to a much higher level. We show that incorporating (i) the ex-ante heterogeneity of earnings and (ii) income-dependent voting behavior helps us to reconcile the large gap between the model and data.

中文翻译：

---

事前异质性和收入依赖投票下的均衡税率

摘要 具有不完全市场的标准模型（例如 Aiyagari）很难将当前的所得税税率证明为最优或政治均衡结果。鉴于高度倾斜的收入分配，大多数人会赞成将税收提高到更高的水平。我们表明，结合 (i) 收益的事前异质性和 (ii) 依赖于收入的投票行为有助于我们调和模型和数据之间的巨大差距。