On the Distributional Effects of Reducing Capital Taxes
On the Distributional Effects of Reducing Capital Taxes
复制标题
论减少资本税的分配效应
DOI：
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发表时间：
2003
期刊：
影响因子：
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通讯作者：
J. Heathcote
中科院分区：
文献类型：
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作者：
David Domeij;J. Heathcote
我们研究了一个模型经济中，异质家庭面临不可保险的劳动收入风险的资本和劳动力税之间的组合变化的福利影响。我们构建的劳动力收入的随机过程与收入风险的经验估计是一致的，也意味着家庭资产持有量的分布与美国非常相似。我们发现，绝大多数家庭更喜欢维持现状，而不是取消资本税。这一发现是有趣的事实，这改革将是最佳的，如果我们抽象的异质性，并假设一个代表性的代理。第二个发现是，一个功利主义政府更喜欢目前校准的美国资本所得税率（39.7%），而不是资本税率的任何增加或减少。
We investigate the welfare implications of changing the mix between capital and labor taxes for a model economy in which heterogeneous households face uninsurable labor income risk. The stochastic process for labor earnings we construct is consistent with empirical estimates of earnings risk, and also implies a distribution of asset holdings across households closely resembling that in the United States. We find that a vast majority of households prefers the status quo to eliminating capital taxes. This finding is interesting in light of the fact that this reform would be optimal if we abstracted from heterogeneity and assumed a representative agent. A second finding is that a utilitarian government prefers the current calibrated U.S. capital income tax rate (39.7 percent) to any increase or decrease in the capital tax rate.