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If individuals evaluate outcomes relative to the status quo, then a social planner may limit redistribution from rich … know (when we observe near-complete redistribution). Subjects who are themselves risk-seeking over losses drive the effect … suggest that respect for reference points of the wealthy may help explain why voters demand less redistribution than standard …
Persistent link: https://www.econbiz.de/10013026793
Hundreds of papers have investigated how incentives and policies affect hours worked in the market. This paper examines how income taxes affect time allocation in the other two-thirds of the day. Using the Panel Study of Income Dynamics from 1975 to 2004, we analyze the response of single...
Persistent link: https://www.econbiz.de/10014045896
their effort, it will chose low redistribution and low taxes. In equilibrium effort will be high, the role of luck limited …
Persistent link: https://www.econbiz.de/10013134300
Should the income tax include a credit for short taxpayers and a surcharge for tall ones? The standard Utilitarian framework for tax analysis answers this question in the affirmative. Moreover, a plausible parameterization using data on height and wages implies a substantial height tax: a tall...
Persistent link: https://www.econbiz.de/10013134658
Soon after beginning operations, the Federal Reserve established a nationwide network for collecting information about the economy. In 1919, the Fed began tabulating data by about retail sales, which it viewed as a fundamental measure of consumption. From 1920 until 1929, the Federal Reserve...
Persistent link: https://www.econbiz.de/10013135054
This paper estimates the total value that individuals derive from their state's tax-and-transfer program, and shows how this value varies by income. The paper decomposes this total value into two components: redistributive value, which is due to predictable changes in income (and family...
Persistent link: https://www.econbiz.de/10013139136
efficiency losses without achieving any net redistribution of income …
Persistent link: https://www.econbiz.de/10013139299
-led redistribution and greater acceptance of wage inequality (e.g., United States versus Western Europe). If individual nations evolve …-led redistribution to the poor. These patterns suggest that short-run inequality shocks can be reinforced in the labor market but do not … result in weaker political preferences for redistribution …
Persistent link: https://www.econbiz.de/10013113154
less than their husbands. As a result, much of the redistribution at the individual level was effectively from high earning … high income households. Both factors mitigate redistribution at the household level. This paper compares outcomes for the … fosters somewhat more redistribution from high to low earning households. The analysis is based on data from the Health and …
Persistent link: https://www.econbiz.de/10013120197
Why do low-income individuals often oppose redistribution? We hypothesize that an aversion to being in "last place …" undercuts support for redistribution, with low-income individuals punishing those slightly below themselves to keep someone …
Persistent link: https://www.econbiz.de/10013122222