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Optimal Taxation and Life Cycle Labor Supply Profile

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  • Michael Kuklik
  • Nikita Cespedes

Abstract

La tasa óptima de impuesto a los ingresos de capital en Estados Unidos es 36% según Conesa y otros (2009). Este resultado se deriva de un modelo de ciclo de vida y se debe a la existencia de mercado incompletos y a la oferta laboral endógena. Se muestra que este modelo tiene problemas en explicar algunos aspectos básicos de la oferta de trabajo a lo largo de ciclo de vida de los trabajadores. En este trabajo, introducimos no linealidad en los salarios y transferencias entre personas y logramos reproducir las características de ciclo de vida de la oferta de trabajo. El primer supuesto induce a que las horas de trabajo sean altamente persistentes y ayuda a considerar las decisiones de trabajo en el margen extensivo a lo largo del ciclo de vida. El segundo supuesto permite modelar las decisiones de trabajo a temprana edad. El modelo propuesto sugiere que la tasa de impuesto optima a los ingresos de capital es de 7,4%.

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Bibliographic Info

Paper provided by Departamento de Economía - Pontificia Universidad Católica del Perú in its series Documentos de Trabajo with number 2013-352.

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Length: 28 pages
Date of creation: 2013
Date of revision:
Publication status: published
Handle: RePEc:pcp:pucwps:wp00352

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Postal: Av. Universitaria 1801, San Miguel, Lima, Perú
Phone: (511) 626-2000 ext. 4950, 4951
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Web page: http://www.pucp.edu.pe/departamento/economia/
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Keywords: Labor supply; optimal taxation; capital taxation; non-linear wage; inter-vivos transfer.;

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References

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  1. Victoria Osuna & Jose-Victor Rios-Rull, 2003. "Implementing the 35 Hour Workweek by Means of Overtime Taxation," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 6(1), pages 179-206, January.
  2. Judd, Kenneth L., 1985. "Redistributive taxation in a simple perfect foresight model," Journal of Public Economics, Elsevier, vol. 28(1), pages 59-83, October.
  3. William G. Gale & John Karl Scholz, 1991. "Intergenerational Transfers and the Accumulation of Wealth," UCLA Economics Working Papers 624, UCLA Department of Economics.
  4. Juan Carlos Conesa & Sagiri Kitao & Dirk Krueger, 2007. "Taxing Capital? Not a Bad Idea After All!," NBER Working Papers 12880, National Bureau of Economic Research, Inc.
  5. Joseph G. Altonji & Fumio Hayashi & Laurence Kotlikoff, 1996. "The Effects of Income and Wealth on Time and Money Transfers between Parents and Children," NBER Working Papers 5522, National Bureau of Economic Research, Inc.
  6. Céspedes Reynaga, Nikita & Rendon, Silvio, 2012. "The Frisch Elasticity in Labor Markets with High Job Turnover," IZA Discussion Papers 6991, Institute for the Study of Labor (IZA).
  7. Gouveia, Miguel & Strauss, Robert P., 1994. "Effective Federal Individual Tax Functions: An Exploratory Empirical Analysis," National Tax Journal, National Tax Association, vol. 47(2), pages 317-39, June.
  8. Storesletten, Kjetil & Telmer, Christopher I. & Yaron, Amir, 2004. "Consumption and risk sharing over the life cycle," Journal of Monetary Economics, Elsevier, vol. 51(3), pages 609-633, April.
  9. Erosa, Andres & Gervais, Martin, 2002. "Optimal Taxation in Life-Cycle Economies," Journal of Economic Theory, Elsevier, vol. 105(2), pages 338-369, August.
  10. Gary Hansen, 2010. "Indivisible Labor and the Business Cycle," Levine's Working Paper Archive 233, David K. Levine.
  11. Waldo Mendoza Bellido, 2013. "Contexto internacional y desempeño macroeconómico en América Latina y el Perú: 1980-2012," Documentos de Trabajo 2013-351, Departamento de Economía - Pontificia Universidad Católica del Perú.
  12. Rogerson, Richard, 1988. "Indivisible labor, lotteries and equilibrium," Journal of Monetary Economics, Elsevier, vol. 21(1), pages 3-16, January.
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Blog mentions

As found by EconAcademics.org, the blog aggregator for Economics research:
  1. Optimal Taxation and Life Cycle Labor Supply Profile
    by Christian Zimmermann in NEP-DGE blog on 2014-03-16 14:59:59
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Cited by:
  1. Mario D. Tello, 2013. "Science, Technology and Innovation in Peru 2000-2012: The Case of Services," Documentos de Trabajo 2013-353, Departamento de Economía - Pontificia Universidad Católica del Perú.

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