Optimal Taxation of Capital and Labor Income with Social Security and Variable Retirement Age
AbstractThis paper extends the Diamond overlapping-generations model with pay-as-you-go social security by allowing for variable retirement age and for distortionary taxation of earnings and interest income. The tax rates are shown to depend on whether or not debt policy is available, and on the compensated elasticities of the two key variables: the amount of saving and the age of retirement. The relative tax on earnings, and thus the downward distortion on the age of retirement, is shown to be low if the age of retirement has a high tax elasticity and if, when there is no debt policy, there is underaccumulation (with respect to the modified golden rule).
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Bibliographic InfoArticle provided by Mohr Siebeck, Tübingen in its journal FinanzArchiv.
Volume (Year): 59 (2002/2003)
Issue (Month): 2 (May)
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Web page: http://www.mohr.de/fa
Postal: Mohr Siebeck GmbH & Co. KG, P.O.Box 2040, 72010 Tübingen, Germany
Other versions of this item:
- MICHEL, Philippe & PESTIEAU, Pierre, . "Optimal taxation of capital and labor income with social security and variable retirement age," CORE Discussion Papers RP -1614, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
- H21 - Public Economics - - Taxation, Subsidies, and Revenue - - - Efficiency; Optimal Taxation
- J26 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Retirement; Retirement Policies
- H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions
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- FLEURBAEY, Marc & LEROUX, Marie-Louise & PESTIEAU, Pierre & PONTHIERE, Grégory, 2013.
"Fair retirement under risky lifetime,"
CORE Discussion Papers
2013049, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
- Marc Fleurbaey & Marie-Louise Leroux & Pierre Pestieau & Grégory Ponthière, 2013. "Fair Retirement Under Risky Lifetime," Working Papers halshs-00857945, HAL.
- Pestieau, P., 2001.
"Are We Retiring Too Early?,"
Liege - Groupe d'Etude des Mathematiques du Management et de l'Economie
2001/03, UNIVERSITE DE LIEGE, Faculte d'economie, de gestion et de sciences sociales, Groupe d'Etude des Mathematiques du Management et de l'Economie.
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