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Taxes Transfers And Labour Market Responses
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Author :Tim Callan Publisher :Economic and Social Reseach Institute (ESRI) ISBN 13 :9780707001852 Total Pages :92 pages Book Rating :4.0/5 (18 download)
Book Synopsis Taxes, Transfers, and Labour Market Responses by : Tim Callan
Download or read book Taxes, Transfers, and Labour Market Responses written by Tim Callan and published by Economic and Social Reseach Institute (ESRI). This book was released on 2000 with total page 92 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Labor Supply and Taxation by : Richard Blundell
Download or read book Labor Supply and Taxation written by Richard Blundell and published by Oxford University Press. This book was released on 2016 with total page 485 pages. Available in PDF, EPUB and Kindle. Book excerpt: Presents Richard Blundell's outstanding research on the modern economic analysis of labour markets and public policy reforms and brings together, in revised and integrated form, a number of the author's key papers.
Book Synopsis Taxes, Transfers, and Economic Distortions by : Gary T. Burtless
Download or read book Taxes, Transfers, and Economic Distortions written by Gary T. Burtless and published by . This book was released on 1987 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Taxes, Benefits, and Labour Market Responses by : Tim Callan
Download or read book Taxes, Benefits, and Labour Market Responses written by Tim Callan and published by ESRI. This book was released on 2002 with total page 80 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Labor-supply Response to Tax and Transfer Programs by : Robert A. Moffitt
Download or read book The Labor-supply Response to Tax and Transfer Programs written by Robert A. Moffitt and published by . This book was released on 1977 with total page 78 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Taxes, Transfers, and Labor Supply by : Gary T. Burtless
Download or read book Taxes, Transfers, and Labor Supply written by Gary T. Burtless and published by . This book was released on 1985 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Empirical Insights Into Australia's Labour Market by : Nhung Nguyen
Download or read book Empirical Insights Into Australia's Labour Market written by Nhung Nguyen and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Tax and transfer systems are critical and essential instruments for redistributing income and encouraging work incentives (Joumard et al., 2013). Like most OECD countries, Australia has a progressive income tax system where the nominal marginal tax rate increases as income grows. Personal income tax accounts for the most significant portion of tax revenue. Benefits are entitlements financed from general revenue and are either income- or asset-tested (Whiteford, 2010). The tax and transfer system aims to provide both adequate social welfare and to encourage labour participation. However, these can sometimes conflict (Adam et al., 2006; Blundell, 2002). For instance, while a tax cut may encourage work, the overall incentive to work, combined with complex changes in transfer systems such as family benefits and public pensions, may create unexpected disincentives for low-income workers to enter the labour market. Building upon these foundational issues, economists have developed several labour supply models based on the prevailing utility theory in an attempt to explain the influences of tax and transfer systems on heterogeneous groups of families and, therefore, on their labour participation decisions (Blundell, 2003; Callan et al., 2012; Meghir & Phillips, 2010). However, the standard method has several theoretical and empirical challenges as it requires assumptions about complex human behaviour rationales which may be unfounded, especially when adding tax and benefits into the model (Keane, 2010; Manski, 2014). Additionally, it is challenging to completely account for unobserved heterogeneity because, strict numeric utility maximisation may fail to obtain convergence when relaxing the distributional assumption on parameters and model specifications. Using data from nearly the past two decades, this thesis empirically investigates how financial incentives are distributed and have evolved in the Australian labour market and presents empirical evidence on how such incentives interact with people's labour supply decisions. The findings suggests heterogeneities in behaviour are underestimated in the previous literature and are conditional on the current labour market environment. Specifically, the thesis focuses on answering the following questions: What are the main determinants and the distribution of monetary work incentives provided by the tax and transfer system in Australia, and how have these evolved in the past two decades? (2) Do different population groups respond differently in their labour participation decisions when facing the same financial incentives? (3) Do the financial incentives from different sources (e.g., childcare subsidy vs income tax) have the same effect on labour force participation for mothers with young children? To study these questions, this thesis examines the changes in the labour force transitions through participation tax rate (PTR), a key indicator reflecting financial incentives offered by the tax and welfare system and illustrate the disincentives for specific family situations to enter the workforce. Additionally, the chapter uses a semi-parametric approach to estimate the relationship between the variations in the incentivise and the labour force outcome taking into account both observed characteristics directly and unobserved traits indirectly by grouping individuals with similar attributes. This methodology allows for a more nuanced examination of behavioural response heterogeneity and offers estimates on the less-explored asymmetric effects of incentives on labour supply (Bartels & Pestel, 2016). These estimations help analyse the income consequences of transitions between employment and non-employment in different population subgroups. In addition to incorporating flexible controls for age, education, and family characteristics, I conduct the analysis in smaller population cells segmented by age, gender, and marital status. This analysis aims both to capture heterogeneity and to mitigate potential bias in the estimation due to unobserved factors. Such an estimation strategy challenges the commonly disputed rationality assumption and empirically derives behavioural responses to the tax system through PTRs. Moreover, the thesis disaggregates PTRs into two components - PTR tax-benefit and PTR childcare - to exploit policy variation over time and examine both cross-sectional and longitudinal effects of different financial incentives on participation decisions, particularly for women with young children. To provide a comprehensive view, the thesis also explores the factors that dominate changes in PTRs over time using population-wide counterfactual simulation and a Shapley-Owen decomposition model. This method contrasts with those that focus on "typical" individuals and households, capturing the actual utilisation of personal income tax and deductions in various family circumstances with differing incomes and demographic characteristics. Thus, it presents the distribution of PTRs more extensively than previous studies. The findings indicate that Australia's tax and transfer system from 2001 to 2019 enhanced work incentives, especially for low- and middle-income earners. Overall, the majority of people aged between 25 and 60 have PTRs ranging from 35% to 45%. Workers aged 40-55 have lower PTRs compared to younger workers, suggesting increased monetary incentives to work as they approach retirement age. Empirical results from a Shapley-Owen model reveal that family status is the primary factor dominating the monetary incentives imposed by Australia's tax and transfer system. This suggests that support for specific families, particularly those with children or secondary earners, plays a pivotal role in boosting labour force participation. Further, the semi-parametric estimations reveal that responses to taxation changes are highly heterogeneous, even within a group of population with similar observed characteristics, and vary based on age, income, and current PTR. This challenges the assumption underlying some policies that people within the same group will have homogenous responses. Women show greater responsiveness than men, indicating a higher elasticity of labour force participation concerning PTRs. Additionally, young people--both single and in couples--in Australia are most sensitive to changes in PTRs, which directly influence disposable income. The efficacy of PTRs in promoting labour force participation varies depending on one's current employment status. Finally, the research shows that increases in direct taxation and cash transfers have greater impact on reducing the labour supply of mothers than childcare subsidies, which are administered as consumption subsidies. Interestingly, single mothers are less responsive to changes in both transfers and childcare subsidies. These observations suggest distinct effect of monetary support through different welfare channels and underscore the need for policymakers to recalibrate benefit structures carefully to balance financial assistance with workforce engagement incentives. They also suggest that interventions targeting childcare subsidies may offer greater potential to enhance women's labour market engagement.
Book Synopsis Optimal Income Transfer Programs by : Emmanuel Saez
Download or read book Optimal Income Transfer Programs written by Emmanuel Saez and published by . This book was released on 2000 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper investigates the optimal income transfer problem at the low end of the income distribution. The government maximizes a social welfare function and faces the traditional equity-efficiency trade-off. The paper models labor supply behavioral responses along the intensive margin (hours or intensity of work on the job) and along the extensive margin (participation in the labor force). Optimal tax formulas are derived as a function of the behavioral elasticities, the shape of the income distribution and the redistribution tastes of the government. When behavioral responses are concentrated along the intensive margin, the optimal transfer program is a classical Negative Income Tax program with a substantial guaranteed income support that is taxed away at high rates. However, when behavioral responses are concentrated along the extensive margin, the optimal transfer program is an Earned Income Credit program with negative marginal tax rates at low income levels and a small guaranteed income. Numerical simulations calibrated with the actual empirical earnings distribution are presented for a range of behavioral elasticities and redistributive tastes of the government. For realistic elasticities, the optimal program provides a moderate guaranteed income, imposes low tax rates on very low annual earnings levels, and then starts phasing out benefits at substantial rates
Book Synopsis Behavioral Responses to Taxes by : Nada Eissa
Download or read book Behavioral Responses to Taxes written by Nada Eissa and published by . This book was released on 2005 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: Twenty-two million families currently receive a total of $34 billion dollars in benefits from the Earned Income Tax Credit (EITC). In fact, the EITC is the largest cash transfer program for lower-income families at the federal level. An unusual feature of the credit is its explicit goal to use the tax system to encourage and support those who choose to work. A large body of work has evaluated the labor supply effects the EITC and has generated several important findings regarding the behavioral response to taxes. Perhaps the main lesson learned from the evidence is the confirmation that real responses to taxes are important; labor supply does respond to the EITC. The second major lesson is related to the nature of the labor supply response. A consistent finding is that labor supply responses are concentrated along the extensive (entry) margin, rather than the intensive (hours worked) margin. This distinction has important implications for the design of tax-transfer programs and for the welfare evaluation of tax reforms.
Book Synopsis Handbook of Public Economics by : Martin Feldstein
Download or read book Handbook of Public Economics written by Martin Feldstein and published by Elsevier. This book was released on 2002-01-25 with total page 744 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Field of Public Economics has been changing rapidly in recent years, and the sixteen chapters contained in this Handbook survey many of the new developments. As a field, Public Economics is defined by its objectives rather than its techniques and much of what is new is the application of modern methods of economic theory and econometrics to problems that have been addressed by economists for over two hundred years. More generally, the discussion of public finance issues also involves elements of political science, finance and philosophy. These connections are evidence in several of the chapters that follow. Public Economics is the positive and normative study of government's effect on the economy. We attempt to explain why government behaves as it does, how its behavior influences the behavior of private firms and households, and what the welfare effects of such changes in behavior are. Following Musgrave (1959) one may imagine three purposes for government intervention in the economy: allocation, when market failure causes the private outcome to be Pareto inefficient, distribution, when the private market outcome leaves some individuals with unacceptably low shares in the fruits of the economy, and stabilization, when the private market outcome leaves some of the economy's resources underutilized. The recent trend in economic research has tended to emphasize the character of stabilization problems as problems of allocation in the labor market. The effects that government intervention can have on the allocation and distribution of an economy's resources are described in terms of efficiency and incidence effects. These are the primary measures used to evaluate the welfare effects of government policy.
Book Synopsis Taxation and Migration by : Reuven S. Avi-Yonah
Download or read book Taxation and Migration written by Reuven S. Avi-Yonah and published by Kluwer Law International B.V.. This book was released on 2015-08-21 with total page 242 pages. Available in PDF, EPUB and Kindle. Book excerpt: Migration has become an increasingly important phenomenon for societies, especially given its highly controversial political dimension. The complexity of the migrant integration process and its many varieties present challenges to policymakers who need high-quality information on which to base decisions. Nowhere is this necessity more pressing than in the development of relevant tax rules that meet the basic requirements of efficiency and equity. Moreover, the ascent of the so-called emerging economies coupled with the stagnation of the richest economies of the world implies reform of the current competition-based international tax regime and the adoption of a more cooperative paradigm. This important and timely book, for the first time in such depth, explores such aspects of the problem as the following: - migration for tax reasons, especially corporate "inversions" (change in corporate residence for tax purposes); - tax consequences related to individuals who receive free or subsidized education in one country and profit from it in another; - taxing cross-border retirement income; and - migration-related aspects of tax preferential treatment of the elderly. With particular emphasis on the effects and opportunities created by the changing international tax regime - and with attention to the role of tax treaties and recent court cases - chapters by well known tax experts present evidence on the consequences of migration in all its facets and simulate the effects of several recently enacted and proposed changes in tax law in European countries, the United States, and other jurisdictions. The grounded propositions and recommendations offered in this deeply informed book will allow policymakers to draft tax-residence rules that minimize distortion and promote fairness. The book will also be of interest to tax law practitioners and other tax specialists, migration experts, and academics investigating one of the crucial political issues of our time.
Book Synopsis Advance Earned Income Tax Credit (Advance EITC) by : United States. Internal Revenue Service
Download or read book Advance Earned Income Tax Credit (Advance EITC) written by United States. Internal Revenue Service and published by . This book was released on with total page 6 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Handbook of Labor Economics by : Orley Ashenfelter
Download or read book Handbook of Labor Economics written by Orley Ashenfelter and published by Elsevier. This book was released on 1999-11-18 with total page 800 pages. Available in PDF, EPUB and Kindle. Book excerpt: A guide to the continually evolving field of labour economics.
Book Synopsis Welfare Policies in the UNECE Region by : Alberto Alesina
Download or read book Welfare Policies in the UNECE Region written by Alberto Alesina and published by . This book was released on 2006 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper discusses why UNECE countries have chosen different social welfare policies, focusing on why the American welfare system is less generous than the typical European one, and examines the causes and implications of these differences. It also explores variations in welfare policies within western European countries by comparing their effectiveness, successes and failures.
Download or read book Taxing Wages 2021 written by OECD and published by OECD Publishing. This book was released on 2021-04-29 with total page 651 pages. Available in PDF, EPUB and Kindle. Book excerpt: This annual publication provides details of taxes paid on wages in OECD countries. It covers personal income taxes and social security contributions paid by employees, social security contributions and payroll taxes paid by employers, and cash benefits received by workers. Taxing Wages 2021 includes a special feature entitled: “Impact of COVID-19 on the Tax Wedge in OECD Countries”.
Book Synopsis Macroeconomic Effects of Tax Rate and Base Changes: Evidence from Fiscal Consolidations by : Ms.Era Dabla-Norris
Download or read book Macroeconomic Effects of Tax Rate and Base Changes: Evidence from Fiscal Consolidations written by Ms.Era Dabla-Norris and published by International Monetary Fund. This book was released on 2018-09-28 with total page 47 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the macroeconomic effects of tax changes during fiscal consolidations. We build a new narrative dataset of tax changes during fiscal consolidation years, containing detailed information on the expected revenue impact, motivation, and announcement and implementation dates of nearly 2,500 tax measures across 10 OECD countries. We analyze the macroeconomic impact of tax changes, distinguishing between tax rate and tax base changes, and further separating between changes in personal income, corporate income, and value added tax. Our results suggest that base broadening during fiscal consolidations leads to smaller output and employment declines compared to rate hikes, even when distinguishing between tax types.
Author :National Academies of Sciences, Engineering, and Medicine Publisher :National Academies Press ISBN 13 :0309483980 Total Pages :619 pages Book Rating :4.3/5 (94 download)
Book Synopsis A Roadmap to Reducing Child Poverty by : National Academies of Sciences, Engineering, and Medicine
Download or read book A Roadmap to Reducing Child Poverty written by National Academies of Sciences, Engineering, and Medicine and published by National Academies Press. This book was released on 2019-09-16 with total page 619 pages. Available in PDF, EPUB and Kindle. Book excerpt: The strengths and abilities children develop from infancy through adolescence are crucial for their physical, emotional, and cognitive growth, which in turn help them to achieve success in school and to become responsible, economically self-sufficient, and healthy adults. Capable, responsible, and healthy adults are clearly the foundation of a well-functioning and prosperous society, yet America's future is not as secure as it could be because millions of American children live in families with incomes below the poverty line. A wealth of evidence suggests that a lack of adequate economic resources for families with children compromises these children's ability to grow and achieve adult success, hurting them and the broader society. A Roadmap to Reducing Child Poverty reviews the research on linkages between child poverty and child well-being, and analyzes the poverty-reducing effects of major assistance programs directed at children and families. This report also provides policy and program recommendations for reducing the number of children living in poverty in the United States by half within 10 years.