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The Welfare Gains of Age Related Optimal Income Taxation
Uppsala University.
Uppsala University ; CESifo, Germany.
Uppsala University ; University of Milan, Italy ; Bocconi University, Italy ; CESifo, Germany.
2010 (English)Report (Other academic)
Resource type
Text
Abstract [en]

Using a calibrated overlapping generations model we quantify the welfare gains of an age dependent income tax. Agents face uncertainty regarding future abilities and can by saving transfer consumption across periods. The welfare gain of switching from an age-independent to an age-dependent nonlinear tax amounts in our benchmark model to around three percent of GDP. The gains are particularly high when there are restrictions on debt policy. The gains of using a nonlinear- as opposed to a linear tax are even larger. Surprisingly, it is of secondary importance to optimally choose the tax on interest income.

Place, publisher, year, edition, pages
Uppsala: Uppsala universitet, 2010. , 46 p.
Series
Working Paper, Uppsala Center for Fiscal Center, Uppsala Universitet, 2010:12
Keyword [en]
labor income taxation, capital income taxation, age-dependent taxes, OLG model
National Category
Economics
Research subject
Economics
Identifiers
URN: urn:nbn:se:lnu:diva-51254OAI: oai:DiVA.org:lnu-51254DiVA: diva2:913796
Note

Working paper

Available from: 2010-10-25 Created: 2016-03-22 Last updated: 2016-05-03Bibliographically approved

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CiteExportLink to record
Permanent link

Direct link
Cite
Citation style
  • apa
  • harvard1
  • ieee
  • modern-language-association-8th-edition
  • vancouver
  • Other style
More styles
Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
  • html
  • text
  • asciidoc
  • rtf