| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w26700 |
| 来源ID | Working Paper 26700 |
| Should the Government be Paying Investment Fees on $3 Trillion of Tax-Deferred Retirement Assets? | |
| Mattia Landoni; Stephen P. Zeldes | |
| 发表日期 | 2020-01-27 |
| 出版年 | 2020 |
| 语种 | 英语 |
| 摘要 | Under standard assumptions, both individuals and the government are indifferent between traditional tax-deferred retirement accounts and “front-loaded” (Roth) accounts. When we add investment fees to this benchmark, individuals are still indifferent but the government is not. We estimate that tax deferral increases demand for asset management services by $3 trillion, causing the government to pay $20.7 billion in corresponding annual fees. In a general equilibrium model with asset management services as differentiated products, we examine the incidence and welfare implications of the added demand. Tax deferral in our model produces a larger asset management industry, higher taxes, and lower social welfare. |
| 主题 | Microeconomics ; Households and Firms ; Financial Economics ; Portfolio Selection and Asset Pricing ; Financial Institutions ; Public Economics ; Taxation ; Labor Economics ; Labor Supply and Demand ; Labor Compensation |
| URL | https://www.nber.org/papers/w26700 |
| 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/584373 |
| 推荐引用方式 GB/T 7714 | Mattia Landoni,Stephen P. Zeldes. Should the Government be Paying Investment Fees on $3 Trillion of Tax-Deferred Retirement Assets?. 2020. |
| 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 | ||
| w26700.pdf（480KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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