We thank Alan Auerbach, Frederick Bennhoff, Anmol Bhandari, David Burgherr, Harold Cole, Ashley Craig, Emanuel Hansen, Jonathan Heathcote, Xavier Jaravel, Louis Kaplow, Wojciech Kopczuk, Moritz Kuhn, Ellen McGrattan, Dominik Sachs, Emmanuel Saez, David Seim, Kjetil Storesletten, Harald Uhlig, Nicolas Werquin, Danny Yagan, Eric Zwick, and seminar participants at Australian National University, Barcelona, BU, CESifo, Chicago Fed, CREST, EEA, Frankfurt, Fribourg, LSE, Mannheim, Munich, NBER Public Economics, NHH Bergen, SED, Stockholm, Toronto, Vienna, Wharton, and Zurich for helpful discussions. Junlei Chen provided excellent research assistance. Florian Scheuer acknowledges support from SNSF Consolidator Grant No. 213673. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.
First seen: 2025-11-30 00:45
Last seen: 2025-11-30 03:46