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Estimating The Elasticity Of Taxable Income
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Book Synopsis The Elasticity of Taxable Income by : Creedy, John
Download or read book The Elasticity of Taxable Income written by Creedy, John and published by Edward Elgar Publishing. This book was released on 2022-04-21 with total page 304 pages. Available in PDF, EPUB and Kindle. Book excerpt: This timely book analyses the elasticity of taxable income, a central concept in public finance with a rapidly growing wealth of literature. Combining original empirical research with rigorous theoretical modelling of tax revenue and optimal tax policy, this innovative study examines the complexities and new methods of estimating the elasticity of taxable income.
Book Synopsis Estimating the Elasticity of Taxable Income when Earnings Responses are Sluggish by : Trine Engh Vattø
Download or read book Estimating the Elasticity of Taxable Income when Earnings Responses are Sluggish written by Trine Engh Vattø and published by . This book was released on 2020 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Estimates of the elasticity of taxable income (ETI) is conventionally obtained by "stacking" three-year overlapping differences in the estimation. In effect, this means that the ETI estimate is an average of first-, second-, and third-year effects. The present paper draws attention to this implication and suggests that if there is gradual adjustment the analyst should rather estimate the ETI by a dynamic panel data model. When using Norwegian income tax return data for wage earners over a 14-year period (1995-2008) in the estimation, an ETI estimate of 0.15 is obtained from the dynamic specification, compared to 0.11 for the conventional approach. Importantly, the conventional approach fails to render a long-term elasticity estimate by increasing the time span of each difference.
Book Synopsis The Elasticity of Taxable Income with Respect to Marginal Tax Rates by : Emmanuel Saez
Download or read book The Elasticity of Taxable Income with Respect to Marginal Tax Rates written by Emmanuel Saez and published by . This book was released on 2009 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper critically surveys the large and growing literature estimating the elasticity of taxable income with respect to marginal tax rates (ETI) using tax return data. First, we provide a theoretical framework showing under what assumptions this elasticity can be used as a sufficient statistic for efficiency and optimal tax analysis. We discuss what other parameters should be estimated when the elasticity is not a sufficient statistic. Second, we discuss conceptually the key issues that arise in the empirical estimation of the elasticity of taxable income using the example of the 1993 top individual income tax rate increase in the United States to illustrate those issues. Third, we provide a critical discussion of most of the taxable income elasticities studies to date, both in the United States and abroad, in light of the theoretical and empirical framework we laid out. Finally, we discuss avenues for future research.
Book Synopsis Estimating Taxable Income Responses with Elasticity Heterogeneity by : Anil Kumar
Download or read book Estimating Taxable Income Responses with Elasticity Heterogeneity written by Anil Kumar and published by . This book was released on 2017 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: We explore the implications of heterogeneity in the elasticity of taxable income (ETI) for tax-reform based estimation methods. We theoretically show that existing methods yield elasticities that are biased and lack policy relevance. We illustrate the empirical importance of our theoretical analysis using the NBER tax panel for 1979-1990. We show that elasticity heterogeneity is the main explanation for large differences between estimates in the previous literature. Our preferred, newly suggested method yields elasticity estimates of approximately 0.7 for taxable income and 0.2 for broad income.
Book Synopsis Are Elasticities of Taxable Income Rising? by : Mr.Alexander D Klemm
Download or read book Are Elasticities of Taxable Income Rising? written by Mr.Alexander D Klemm and published by International Monetary Fund. This book was released on 2018-06-13 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper assesses a possible explanation for the global downward trend in top personal income tax rates over the last decades: globalization and the related tax evasion and avoidance opportunities could have raised elasticities of taxable income, which would imply lower optimal tax rates. The paper estimates elasticities of taxable income for top income earners using a large sample of economies and years with a common method, allowing an analysis of trends in such elasticities. The paper finds that elasticities do not appear to exhibit any clear pattern over the years. The downward trend in tax rates must have other possible explanations, which are briefly discussed.
Book Synopsis Estimating the Elasticity of Taxable Income by : Takeshi Miyazaki
Download or read book Estimating the Elasticity of Taxable Income written by Takeshi Miyazaki and published by . This book was released on 2016 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Regression Estimates of the Elasticity of Taxable Income and the Choice of Instrument by : Simon Michael Carey
Download or read book Regression Estimates of the Elasticity of Taxable Income and the Choice of Instrument written by Simon Michael Carey and published by . This book was released on 2012 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Elasticity of Taxable Income by : John Creedy
Download or read book The Elasticity of Taxable Income written by John Creedy and published by . This book was released on 2016 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: "This paper examines two problems in the estimation of the elasticity of taxable income. The first arises from the need to deal with endogeneity arising from the fact that the marginal tax rate and taxable income are jointly determined in a multi-tax structure.The approach taken in many empirical studies has been to use instrumental variable estimation. In contrast, the approach proposed in the present paper is to use ordinary least squares using proxy variables. It is shown that more robust, plausible results can be obtained using this approach. Secondly, the paper considers a potential role for income effects. One approach previously adopted has involved the addition of a term involving the proportional change in the net-of-tax average rate in addition to the change in the marginal net-of-tax rate. It is shown that the derivation of this specification, starting from the Slutsky equation, involves an invalid assumption (that virtual income can be neglected) at a crucial step. Nevertheless, for the New Zealand case, correction for this assumption leads to empirical results which also support the finding that income effects are negligible and statistically insignificant. In addition, the simpler specification can be derived more easily from a direct utility function. Following Kleven and Schultz (2014), income effects a real so examined by introducing a term involving the proportional change in virtual income. Estimates reported here show a very small negative, but significant, coefficicient on this variable when a proxy based on the expected tax rate is used, but an egligible and insignificant coefficient when a proxy based on an unchanged taxable income is used"--Page 1.
Book Synopsis Elasticity of Taxable Income by : Kamila Kaucká
Download or read book Elasticity of Taxable Income written by Kamila Kaucká and published by LAP Lambert Academic Publishing. This book was released on 2011-04 with total page 112 pages. Available in PDF, EPUB and Kindle. Book excerpt: Tax rate change influences taxpayers' behavior and hence taxable income and tax revenue of the state budget. Any such change can affect declared taxable income through its effect on quality or quantity of labor supply, savings, portfolio decisions, tax avoidance by legal means or illegal tax evasion. In this work I focus on elasticity of taxable income as an estimate of these behavioral responses to a (personal income) tax rate change. First, I summarize theoretical background and fundamental analyses dealing with elasticity of taxable income. Further, I describe one of the methods, and its constraints, used for in empirical work on elasticity estimation known as difference-in-differences." I apply this method and estimate elasticity of taxable income in the Czech Republic using several recent personal income tax reforms. Those estimates that are consistent with economic theory and common sense suggest, along with results from optimal taxation theory, that the top marginal personal income tax rate in the Czech Republic should not exceed 71.8%, but any lower tax rate is justifiable based on redistributive tastes of a government.
Book Synopsis Estimating the Elasticity of Taxable Income in New Zealand by : Simon Carey
Download or read book Estimating the Elasticity of Taxable Income in New Zealand written by Simon Carey and published by . This book was released on 2015 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper produces regression estimates of the elasticity of taxable income in New Zealand using two new instruments applied to a substantial tax reform 'experiment'. Instrumental variable methods are required to deal with endogeneity of the tax rate and taxable income in a non-linear tax structure. However, in the New Zealand context, the 'standard' regression instrument is found to be unable to accommodate the substantial observed exogenous (non-tax-induced) changes in taxable income. Two new tax rate instruments are proposed, which use information on taxable income dynamics, for a panel of taxpayers over a period that involves no tax changes, to derive taxpayers' counterfactual post-reform incomes and tax rates expected in the absence of reform. The two instruments respectively measure, for each taxpayer, the tax rate associated with expected mean income, and the expected tax rate associated with the individual's expected conditional distribution of income. Applying these instruments to the 2001 New Zealand tax changes yields plausible estimates of the elasticity of taxable income around 0.5-0.7. Elasticities are found to be substantially higher for taxpayers with non-wage-and-salary income compared with wage and salary only taxpayers. Results also confirm that non-wage-and-salary income was especially responsive to the tax changes.
Book Synopsis Estimating Changes in the Federal Individual Income Tax: Exploring Elasticities of Taxable Income by : United States. Congress. Joint Committee on Taxation
Download or read book Estimating Changes in the Federal Individual Income Tax: Exploring Elasticities of Taxable Income written by United States. Congress. Joint Committee on Taxation and published by . This book was released on 2015 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Using the Alternative Minimum Tax to Estimate the Elasticity of Taxable Income for Higher-income Taxpayers by : Ali Abbas
Download or read book Using the Alternative Minimum Tax to Estimate the Elasticity of Taxable Income for Higher-income Taxpayers written by Ali Abbas and published by . This book was released on 2019 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Elasticity of Taxable Income: Evidence and Implications by : Jonathan Gruber
Download or read book The Elasticity of Taxable Income: Evidence and Implications written by Jonathan Gruber and published by . This book was released on 2000 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis En Econometric Method for Estimating the Tax Elasticity and the Imopact on Revenues of Discretionary Tax Measures by : Jaber Ehdaie
Download or read book En Econometric Method for Estimating the Tax Elasticity and the Imopact on Revenues of Discretionary Tax Measures written by Jaber Ehdaie and published by World Bank Publications. This book was released on 1990 with total page 97 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Is the Taxable Income Elasticity Sufficient to Calculate Deadweight Loss? by : Raj Chetty
Download or read book Is the Taxable Income Elasticity Sufficient to Calculate Deadweight Loss? written by Raj Chetty and published by . This book was released on 2008 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since Feldstein (1999), the most widely used method of calculating the excess burden of income taxation is to estimate the effect of tax rates on reported taxable income. This paper reevaluates the taxable income elasticity as a measure of excess burden when individuals can evade or avoid taxes. In many cases, part of the cost of evasion and avoidance reflects a transfer to another agent in the economy. I show that in such situations, excess burden depends on a weighted average of the taxable income and total earned income elasticities, with the weight determined by the marginal resource cost of sheltering income from taxation. This generalized formula implies that the efficiency cost of taxing high income individuals is not necessarily large despite evidence that their reported incomes are highly sensitive to tax rates.
Book Synopsis Elasticity of Taxable Income by : Tuomas Matikka
Download or read book Elasticity of Taxable Income written by Tuomas Matikka and published by . This book was released on 2018 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The elasticity of taxable income (ETI) is a key parameter in income tax analysis, in terms of both efficiency and tax revenue. In this paper, I use Finnish data to analyze the ETI. I use changes in flat municipal income tax rates as an instrument for overall changes in marginal tax rates. This instrument is not a function of individual income, and thus the ETI estimates are less susceptible to bias caused by differential trends across the income distribution. In general, instruments used in previous studies do not have this feature. My preferred estimate for the average ETI is 0.21.
Book Synopsis The Elasticity of Taxable Income Over the 1980s and 1990s by : Seth H. Giertz
Download or read book The Elasticity of Taxable Income Over the 1980s and 1990s written by Seth H. Giertz and published by . This book was released on 2008 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: Taxable (and broad) income elasticities are estimated using tax return data from 1979 to 2001. Data from the Continuous Work History Survey (CWHS) yield an estimated taxable income elasticity for the 1990s that is about half the corresponding 1980s estimate. Estimates from the full Statistics of Income, which heavily over samples high-income filers, generally confirm the CWHS results. More sophisticated income control brings the estimates for the two decades closer together to 0.40 for the 1980s and 0.26 for the 1990s. Work by Kopczuk (2005) implies that the narrowing of the tax base since 1986 could account for 14 to 29 percent of the remaining difference.
