G2TT
来源类型Discussion paper
规范类型论文
来源IDDP10208
DP10208 High Marginal Tax Rates on the Top 1%? Lessons from a Life Cycle Model with Idiosyncratic Income Risk
Dirk Krueger; Fabian Kindermann
发表日期2014-10-19
出版年2014
语种英语
摘要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 a large scale Overlapping Generations Model with uninsurable labor productivity risk, show that it has a wealth distribution that matches the data well, and then use it to characterize fiscal policies that achieve a desired degree of redistribution in society. We find that marginal tax rates on the top 1% of the earnings distribution of close to 90% are optimal. We document that this result is robust to plausible variation in the labor supply elasticity and holds regardless of whether social welfare is measured at the steady state only or includes transitional generations.
主题International Macroeconomics ; Public Economics
关键词Progressive taxation Top 1% Social insurance Income inequality
URLhttps://cepr.org/publications/dp10208
来源智库Centre for Economic Policy Research (United Kingdom)
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/539041
推荐引用方式
GB/T 7714
Dirk Krueger,Fabian Kindermann. DP10208 High Marginal Tax Rates on the Top 1%? Lessons from a Life Cycle Model with Idiosyncratic Income Risk. 2014.
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