کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
968972 1479462 2012 16 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
On the desirability of taxing capital income in optimal social insurance
کلمات کلیدی
موضوعات مرتبط
علوم انسانی و اجتماعی اقتصاد، اقتصادسنجی و امور مالی اقتصاد و اقتصادسنجی
پیش نمایش صفحه اول مقاله
On the desirability of taxing capital income in optimal social insurance
چکیده انگلیسی

This paper analyzes optimal linear taxes on labor income and savings in a two-period life-cycle model with ex ante identical households, endogenous leisure demands in both periods, and general processes of skill shocks over the life cycle. We demonstrate that the Atkinson–Stiglitz theorem breaks down under risk. Capital taxes are employed besides labor income taxes for two distinct reasons: i) capital taxes reduce labor supply distortions on second-period labor supply, since second-period labor supply and saving are substitutes, ii) capital taxes insure first-period income risk, although this benefit is partially off-set because first-period labor supply and saving are complements. Our results imply that (retirement) saving should not be actuarially fair.


► Capital income should optimally be taxed.
► The Atkinson–Stiglitz theorem breaks down under risk.
► Capital income taxes boost labor supply.
► Capital income taxes insure income risks early in the life cycle.
► Retirement savings should not be actuarially fair.

ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Public Economics - Volume 96, Issues 9–10, October 2012, Pages 853–868
نویسندگان
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