| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w25081 |
| 来源ID | Working Paper 25081 |
| Inheritance Taxation and Wealth Effects on the Labor Supply of Heirs | |
| Fabian Kindermann; Lukas Mayr; Dominik Sachs | |
| 发表日期 | 2018-09-24 |
| 出版年 | 2018 |
| 语种 | 英语 |
| 摘要 | The taxation of bequests can have a positive impact on the labor supply of heirs through wealth effects. This leads to an increase in future labor income tax revenue on top of direct bequest tax revenue. We first show in a theoretical model that a simple back-of-the-envelope calculation, based on existing estimates for the reduction in earnings after wealth transfers, fails: the marginal propensity to earn out of unearned income is not a sufficient statistic for the calculation of this effect because (i) heirs anticipate the reduction in net bequests and adjust their labor supply already prior to inheriting, and (ii) when bequest receipt is stochastic, even those who ex post end up not inheriting anything respond ex ante to the implied change in their distribution of net bequests. We quantitatively elaborate the size of the overall revenue effect due to labor supply changes of heirs by using a state of the art life-cycle model that we calibrate to the German economy. Besides the joint distribution of income and inheritances, quasi-experimental evidence regarding the size of wealth effects on labor supply is a key target for this calibration. We find that for each Euro of bequest tax revenue the government mechanically generates, it obtains an additional 9 Cents of labor income tax revenue (in net present value) through higher labor supply of (non-)heirs. |
| 主题 | Microeconomics ; Mathematical Tools ; Households and Firms ; Public Economics ; Taxation ; Labor Economics ; Labor Supply and Demand |
| URL | https://www.nber.org/papers/w25081 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/582754 |
| 推荐引用方式 GB/T 7714 | Fabian Kindermann,Lukas Mayr,Dominik Sachs. Inheritance Taxation and Wealth Effects on the Labor Supply of Heirs. 2018. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w25081.pdf（670KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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