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Did tax flattening affect RRSP contributions?

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  • Michael R. Veall

Abstract

In 1988 marginal personal income tax rates changed in Canada, for some individuals by reasonably substantial amounts. In this note a large sample of tax-filer data is examined and the conclusion is drawn that, when attention is paid to the possible confounding of marginal tax rate and non-linear income effects, there is no convincing evidence that the tax rate changes affected contributions to Registered Retirement Saving Plans (RRSPs).

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Bibliographic Info

Article provided by Canadian Economics Association in its journal Canadian Journal of Economics.

Volume (Year): 34 (2001)
Issue (Month): 1 (February)
Pages: 120-131

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Handle: RePEc:cje:issued:v:34:y:2001:i:1:p:120-131

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References

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  1. John Burbidge & Deborah Fretz & Michael R. Veall, 1998. "Canadian and American Saving Rates and the Role of RRSPs," Canadian Public Policy, University of Toronto Press, vol. 24(2), pages 259-263, June.
  2. Thaler, Richard H, 1990. "Saving, Fungibility, and Mental Accounts," Journal of Economic Perspectives, American Economic Association, vol. 4(1), pages 193-205, Winter.
  3. James M. Poterba & Steven F. Venti & David A. Wise, 1996. "How Retirement Saving Programs Increase Saving," Journal of Economic Perspectives, American Economic Association, vol. 10(4), pages 91-112, Fall.
  4. John Burbidge & Deborah Fretz & Michael R. Veall, 1997. "The Effect of RRSPs on Savings in Canada," Independence and Economic Security of the Older Population Research Papers 14, McMaster University.
  5. Eric M. Engen & William G. Gale & John Karl Scholz, 1996. "The Illusory Effects of Saving Incentives on Saving," Journal of Economic Perspectives, American Economic Association, vol. 10(4), pages 113-138, Fall.
  6. Carroll, Chris & Summers, Lawrence H., 1987. "Why have private savings rates in the United States and Canada diverged?," Journal of Monetary Economics, Elsevier, vol. 20(2), pages 249-279, September.
  7. French, Kenneth R & Poterba, James M, 1991. "Investor Diversification and International Equity Markets," American Economic Review, American Economic Association, vol. 81(2), pages 222-26, May.
  8. Thaler, Richard H, 1994. "Psychology and Savings Policies," American Economic Review, American Economic Association, vol. 84(2), pages 186-92, May.
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Citations

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Cited by:
  1. Veall, Michael R., 2013. "Estimating the Number of Guaranteed Income Supplement Recipients Who Have Mistakenly Saved in Registered Retirement Savings Plans and Registered Pension Plans," CLSSRN working papers clsrn_admin-2013-26, Vancouver School of Economics, revised 29 Apr 2013.
  2. Michael R. Veall, 2006. "The Top Shares of Older Earners in Canada," Social and Economic Dimensions of an Aging Population Research Papers 156, McMaster University.
  3. Selin, Håkan, 2009. "Marginal tax rates and tax-favoured pension savings of the self-employed Evidence from Sweden," Working Paper Series 2009:6, Uppsala University, Department of Economics.
  4. Sule Alan & Kadir Atalay & Thomas F. Crossley & Sung-Hee Jeon, 2009. "New Evidence on Taxes and Portfolio Choice," Social and Economic Dimensions of an Aging Population Research Papers 245, McMaster University.
  5. Gary V. Engelhardt & Brigitte C. Madrian, 2004. "Employee Stock Purchase Plans," NBER Working Papers 10421, National Bureau of Economic Research, Inc.
  6. Mary-Anne Sillamaa & Michael R. Veall, 2000. "The Effect of Marginal Tax Rates on Taxable Income: A Panel Study of the 1988 Tax Flattening in Canada," Social and Economic Dimensions of an Aging Population Research Papers 25, McMaster University.
  7. Juan Ayuso & Juan F. Jimeno & Ernesto Villanueva, 2007. "The effects of the introduction of tax incentives on retirement savings," Banco de Espa�a Working Papers 0724, Banco de Espa�a.
  8. Kevin Milligan, 2000. "How Do Contribution Limits Affect Contributions to Tax-Preferred Savings Accounts?," Social and Economic Dimensions of an Aging Population Research Papers 27, McMaster University.

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