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Reed, Chris - 2017

Canada' Registered Retirement Savings Plan (RRSP) is a tax-deferred account intended to help workers save for retirement. It has existed for so many decades that professionals feel certain they know everything there is to know about the account. Its rules and mechanics are well known not only by...

Persistent link: https://www.econbiz.de/10012971328

The Dynamic Effects of Personal and Corporate Income Tax Changes in the United States : Reply to Jentsch and Lunsford

Mertens, Karel - 2020

In this reply to a comment by Jentsch and Lunsford, we show that, when focusing on the relevant impulse responses, the evidence for economic and statistically significant macroeconomic effects of tax changes in Mertens and Ravn (2013) remains present for a range of asymptotically valid inference...

Persistent link: https://www.econbiz.de/10012852062

Proxy Svars : Asymptotic Theory, Bootstrap Inference, and the Effects of Income Tax Changes in the United States

Jentsch, Carsten - 2016

Proxy structural vector autoregressions (SVARs) identify structural shocks in vector autoregressions (VARs) with external proxy variables that are correlated with the structural shocks of interest but uncorrelated with other structural shocks. We provide asymptotic theory for proxy SVARs when...

Persistent link: https://www.econbiz.de/10012983055

Income Taxation of U.S. Households : Basic Facts

Guner, Nezih - 2011

We use micro data from the U.S. Internal Revenue Service to document how households' tax liabilities vary with income, marital status and the number of dependents. We report facts on the distributions of average and marginal taxes, properties of the joint distributions of taxes paid and income,...

Persistent link: https://www.econbiz.de/10013128832

Measuring Revenue-Maximising Elasticities of Taxable Income : Evidence for the US Income Tax

Creedy, John - 2014

A recent review of empirical estimates of the elasticity of taxable income (ETI) concluded that ‘the US marginal top rate is far from the top of the Laffer curve' (Saez et al, 2012, p.42). This paper provides a detailed examination of the analysis underlying this conclusion, and considers...

Persistent link: https://www.econbiz.de/10013061124

Short-Term Tax Cuts, Long-Term Stimulus

Cloyne, James; Martinez, Joseba; Mumtaz, Haroon; … - National Bureau of Economic Research - 2022

We study the persistent effects of temporary changes in U.S. federal corporate and personal income tax rates using a narrative identification approach. A corporate income tax cut leads to a sustained increase in GDP and productivity, with peak effects between five and eight years. R&D spending...

Persistent link: https://www.econbiz.de/10013334463

New evidence on taxes and portfolio choice

Alan, Sule; Atalay, Kadir; Crossley, Thomas F.; Jeon, … - 2009

Identifying the effect of differential taxation on portfolio allocation requires exogenous variation in marginal tax rates. Marginal tax rates vary with income, but income surely affects portfolio choice directly. In systems of individual taxation - like Canada's - couples with the same...

Persistent link: https://www.econbiz.de/10003824234

The reaction of consumer spending and debt to tax rebates : evidence from consumer credit data

Agarwal, Sumit (contributor); Liu, Chunlin (contributor); … - 2007 - Rev.

We use a new panel dataset of credit card accounts to analyze how consumers responded to the 2001 federal income tax … rebates. We estimate the monthly response of credit card payments, spending, and debt, exploiting the unique, randomized … credit card payments and thereby paying down debt. But soon afterwards spending increased, counter to the canonical Permanent …

Persistent link: https://www.econbiz.de/10003597329

New evidence on taxes and portfolio choice

Alan, Sule; Atalay, Kadir; Crossley, Thomas F.; Jeon, … - 2009

Persistent link: https://www.econbiz.de/10003871286

Marginal deadweight loss when the income tax is nonlinear

Blomquist, Nils Sören; Simula, Laurent - 2010

Almost all theoretical work on how to calculate the marginal deadweight loss has been done for linear taxes and for variations in linear budget constraints. This is quite surprising since most income tax systems are nonlinear, generating nonlinear budget constraints. Instead of developing the...

Persistent link: https://www.econbiz.de/10003929301