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Based on well-known evidence on labor supply elasticities, several authors have concluded that women should be taxed at lower rates than men. We evaluate the quantitative implications of taxing women at a lower rate than men. Relative to the current system of taxation, setting a proportional tax...
Persistent link: https://www.econbiz.de/10009408748
This paper evaluates the welfare effects of the 1986 Tax Reform Act (TRA86). In thirty years since its introduction, several studies have analysed the effects of TRA86. However, preference heterogeneity and non-market dimensions of welfare have not been taken into account. We propose an...
Persistent link: https://www.econbiz.de/10011346578
In this paper we argue that very high marginal labor income tax rates are an effective tool for social insurance even when households have preferences with high labor supply elasticity, make dynamic savings decisions, and policies have general equilibrium effects. To make this point we construct...
Persistent link: https://www.econbiz.de/10010411559
We analyze the macroeconomic implications of increasing the top marginal income tax rate using a dynamic general equilibrium framework with heterogeneous agents and a fiscal structure resembling the actual US tax system. The wealth and income distributions generated by our model replicate the...
Persistent link: https://www.econbiz.de/10011296121
We analyze the macroeconomic implications of increasing the top marginal income tax rate using a dynamic general equilibrium framework with heterogeneous agents and a fiscal structure resembling the actual U.S. tax system. The wealth and income distributions generated by our model replicate the...
Persistent link: https://www.econbiz.de/10011317719
We introduce intergenerational transfers into a general equilihrium life-cycle model in order to explain observed levels of wealth heterogeneity. In our overlapping generations model, heterogenous agents face uncertain lifetime and leave both accidental and voluntary bequests to their cinldren....
Persistent link: https://www.econbiz.de/10010440978
Persistent link: https://www.econbiz.de/10013428367
Evaluating the desirability of a reform typically involves weighing the gains of the winners against the losses of the losers using welfare weights. Welfare weights measure the value that citizens assigns to a $1 gain in consumption to individuals. They can capture various normative ideals like...
Persistent link: https://www.econbiz.de/10014521241
Persistent link: https://www.econbiz.de/10010430745
Following the report of the Stiglitz Commission, measuring and comparing well-being across countries has gained renewed interest. Yet, analyses that go beyond income and incorporate non-market dimensions of welfare most often rely on the assumption of identical preferences to avoid the...
Persistent link: https://www.econbiz.de/10013118277