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Dynamic Tax Reforms

Author

Listed:
  • Nicolas Werquin

    (Yale University)

  • Aleh Tsyvinski

    (Yale University)

  • Mikhail Golosov

    (Princeton University)

Abstract

This paper derives novel formulas for the welfare gains of any tax reform around initial (optimal or suboptimal) dynamic tax systems. We use a perturbation-based method to express these formulas in terms of easily interpretable and empirically estimable parameters: elasticities of income and savings with respect to the tax rates, and the shape of the income and savings distributions. This generates new theoretical insights about dynamic optimal taxes, as well as policy implications regarding directions of tax reforms of the current US tax code.

Suggested Citation

  • Nicolas Werquin & Aleh Tsyvinski & Mikhail Golosov, 2013. "Dynamic Tax Reforms," 2013 Meeting Papers 879, Society for Economic Dynamics.
    • Handle: RePEc:red:sed013:879
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    Cited by:

    1. Findeisen, Sebastian & Sachs, Dominik, 2014. "Efficient Labor and Capital Income Taxation over the Life Cycle," Working Papers 14-17, University of Mannheim, Department of Economics.
    2. Sachs, Dominik & Findeisen, Sebastian, 2014. "Designing Efficient Education and Tax Policies," VfS Annual Conference 2014 (Hamburg): Evidence-based Economic Policy 100504, Verein für Socialpolitik / German Economic Association.

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