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High Marginal Tax Rates on the Top 1%? Lessons from a Life Cycle Model with Idiosyncratic Income Risk

Kindermann, Fabian - 2014

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/10013045718

Optimal Progressive Income Taxation in a Bewley-Grossman Framework

Tran, Chung - 2018

We study optimal income tax progressivity in an environment where individuals are exposed to idiosyncratic income and … government is required to set higher optimal levels of tax progressivity in order to provide more social insurance for unhealthy … progressivity (Suits) index a Gini coefficient for income tax contributions by income of the optimal tax system is around 0 …

Persistent link: https://www.econbiz.de/10012916804

The Concept of Income and Tax Policy

Richardson, Ivor - 2015

This paper describes the relevance to lawyers and law students of the concept of income for tax purposes and tax policy. Three reasons are given for law practitioners to have an understanding of the policies underlying tax legislation: the complexity of the legislation; the fact that it can...

Persistent link: https://www.econbiz.de/10013036637

Proxy SVARs : asymptotic theory, bootstrap inference, and the effects of income tax changes in the United States

Jentsch, Carsten; Lunsford, Kurt G. - 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 the...

Persistent link: https://www.econbiz.de/10011570152

The Spanish personal income tax : facts and parametric estimates

García-Miralles, Esteban; Guner, Nezih; Ramos, Roberto - In: SERIEs : Journal of the Spanish Economic Association 10 (2019) 3/4, pp. 439-477

In this paper, we use administrative data on tax returns to characterize the distributions of before- and after-tax income, tax liabilities and tax credits in Spain for individuals and households. We use the most recent available data, 2015 for individuals and 2013 for households, but also...

Persistent link: https://www.econbiz.de/10012179303

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

Federal Tax Update : Important Developments in Federal Income, Estate & Gift Taxation Affecting Individuals - August, 2006 to August, 2007

Donaldson, Samuel A. - 2012

This update explains several developments in the substantive federal income, estate and gift tax laws affecting individual taxpayers and small businesses. It contains summaries of significant cases, rulings, regulations, legislation and other matters from August, 2006, through September, 2007....

Persistent link: https://www.econbiz.de/10014223488

The Household Expenditure Response to a Consumption Tax Rate Increase

Cashin, David B. - 2017

This study measures the effect of an increase in Japan's Value Added Tax rate on the timing of household expenditures and consumption, which do not necessarily coincide. The analysis finds that durable and storable expenditures surged in the month prior to the tax rate increase, fell sharply...

Persistent link: https://www.econbiz.de/10014121977

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

Macroeconomic and distributive effects of increasing taxes in Spain

Fuster, Luisa - In: SERIEs : Journal of the Spanish Economic Association 13 (2022) 4, pp. 613-648

I assess the macroeconomic and redistributive effects of tax reforms aimed at increasing tax revenue in Spain. To this end, I develop a theory of entrepreneurship that mimics key facts on the wealth and income distribution in Spain. I find two reforms that raise fiscal pressure in Spain to the...

Persistent link: https://www.econbiz.de/10013459944