The optimal earnings test and retirement behavior
This paper quantitatively derives the welfare-improving earnings test within an optimal income tax framework. I construct a life cycle model of labor supply and savings to compute social welfare. The preference parameters are estimated by the method of simulated moments using Japanese data. I find t...
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| Veröffentlicht in: | International tax and public finance 2023-08, Vol.30 (4), p.1036-1068 |
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| creator | Okada, Masayuki |
| description | This paper quantitatively derives the welfare-improving earnings test within an optimal income tax framework. I construct a life cycle model of labor supply and savings to compute social welfare. The preference parameters are estimated by the method of simulated moments using Japanese data. I find that social welfare under the current earnings test with large changes of marginal tax rates at thresholds is substantially lower than social welfare under the earnings test with a linear tax rate. In addition, an earnings test with negative marginal tax rates will increase social welfare more than a system without negative marginal tax rates. |
| doi_str_mv | 10.1007/s10797-022-09734-0 |
| format | Article |
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I construct a life cycle model of labor supply and savings to compute social welfare. The preference parameters are estimated by the method of simulated moments using Japanese data. I find that social welfare under the current earnings test with large changes of marginal tax rates at thresholds is substantially lower than social welfare under the earnings test with a linear tax rate. 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| ispartof | International tax and public finance, 2023-08, Vol.30 (4), p.1036-1068 |
| issn | 0927-5940 1573-6970 |
| language | eng |
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| source | PAIS Index; SpringerNature Journals |
| subjects | Age Business Taxation/Tax Law Decision making Earnings Economics Economics and Finance Elasticity Expenditures Income taxes Labor force Labor supply Older people Public Finance Reforms Retirement Social security Social welfare Tax rates Tax revenues Taxation Tests Thresholds |
| title | The optimal earnings test and retirement behavior |
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