全球智库信息集成服务系统(G2TT): Consumption Insurance Against Wage Risk: Family Labor Supply and Optimal Progressive Income Taxation

G2TT

来源类型	Working Paper
规范类型	报告
DOI	10.3386/w26466
来源ID	Working Paper 26466
	Consumption Insurance Against Wage Risk: Family Labor Supply and Optimal Progressive Income Taxation
	Chunzan Wu; Dirk Krueger
发表日期	2019-11-18
出版年	2019
语种	英语
摘要	We show that a calibrated life-cycle two-earner household model with endogenous labor supply can rationalize the extent of consumption insurance against shocks to male and female wages, as estimated empirically by Blundell, Pistaferri and Saporta-Eksten (2016) in U.S. data. In the model, 35% of male and 18% of female permanent wage shocks pass through to consumption, compared to the empirical estimates of 32% and 19%. Most of the consumption insurance against permanent male wage shocks is provided through the presence and labor supply response of the female earner. Abstracting from this private intra-household income insurance mechanism strongly biases upward the welfare losses from idiosyncratic wage risk as well as the desired extent of public insurance through progressive income taxation. Relative to the standard one-earner life cycle model, the optimal degree of tax progressivity is significantly lower and the welfare gains from implementing the optimal system are cut roughly in half.
主题	Macroeconomics ; Consumption and Investment ; Public Economics ; Taxation
URL	https://www.nber.org/papers/w26466
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/584137
推荐引用方式 GB/T 7714	Chunzan Wu,Dirk Krueger. Consumption Insurance Against Wage Risk: Family Labor Supply and Optimal Progressive Income Taxation. 2019.

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
w26466.pdf（1585KB）	智库出版物		限制开放	CC BY-NC-SA	浏览