Singles, couples, time-averaging, and taxation

IF 4.3 2区经济学 Q1 BUSINESS, FINANCE

Journal of Monetary Economics Pub Date : 2024-11-16 DOI:10.1016/j.jmoneco.2024.103702

Hans A. Holter , Lars Ljungqvist , Thomas J. Sargent , Serhiy Stepanchuk

引用次数: 0

Abstract

We study consequences of tax reforms in an incomplete markets overlapping generations model in which male and female workers with different ability levels self-insure by acquiring a risk-free bond, “time-averaging” their life-cycle work schedules and career lengths, and possibly by marrying and divorcing. We study incidences of a flat-rate tax and in combination with stylized versions of a negative income tax (NIT) or an earned income tax credit (EITC). Tax reforms have diverse effects that differ by workers’ abilities, marital statuses, and ages. A new “ex post-ex ante” criterion helps us to sort through welfare incidences. The importance of labor supply responses at the extensive margin makes the EITC better for redistribution than the NIT.

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单身，夫妻，时间平均和税收

我们在一个不完全市场重叠代模型中研究了税收改革的后果，在这个模型中，不同能力水平的男性和女性工人通过获得无风险债券、“平均时间”他们的生命周期工作时间表和职业长度，以及可能的结婚和离婚来进行自我保险。我们研究了固定税率税的发生率，并结合了负所得税（NIT）或劳动所得税抵免（EITC）的风格化版本。税收改革的效果因工人的能力、婚姻状况和年龄而异。一个新的“事后事后”标准帮助我们对福利事件进行分类。劳动力供给反应在大边际上的重要性使得EITC比NIT更有利于再分配。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Journal of Monetary Economics Multiple-

CiteScore

7.20

自引率

4.90%

发文量

审稿时长

74 days

期刊介绍： The profession has witnessed over the past twenty years a remarkable expansion of research activities bearing on problems in the broader field of monetary economics. The strong interest in monetary analysis has been increasingly matched in recent years by the growing attention to the working and structure of financial institutions. The role of various institutional arrangements, the consequences of specific changes in banking structure and the welfare aspects of structural policies have attracted an increasing interest in the profession. There has also been a growing attention to the operation of credit markets and to various aspects in the behavior of rates of return on assets. The Journal of Monetary Economics provides a specialized forum for the publication of this research.