Search Results

(refine search)

SORT BY: PREVIOUS / NEXT

All:
Title:
Author:
Abstract:
Keywords:

+ Add Search Parameter

Working Paper
The Effects of Collecting Income Taxes on Social Security Benefits
Jones, John Bailey; Li, Yue (2017-01-12)
Since 1983, Social Security benefits have been subject to income taxation, a provision that can significantly increase the marginal income tax rate for older individuals. To assess the impact of this tax, we construct and calibrate a detailed life-cycle model of labor supply, saving, and Social Security claiming. We find that in a long-run stationary environment, replacing the taxation of Social Security benefits with a revenue-equivalent increase in the payroll tax would significantly increase labor supply, consumption and welfare. From an ex-ante perspective an even more desirable reform ...
Working Paper , Paper 17-2

Working Paper
Are income taxes destined to rise? the fiscal imbalance and future tax policy
Viard, Alan D.; Saving, Jason L. (2015-01-01)
We present a model of optimizing government behavior in which a need for increased revenue leads to the introduction of a new revenue source, such as a VAT, accompanied by a reduction in income taxes. We argue that this is a plausible outcome for the United States, in view of international experience and recent fiscal reform proposals, and has important implications for individual investment decisions.
Working Papers , Paper 1502

Working Paper
Does Unconditional Cash during Pregnancy Affect Infant Health?
Ruffini, Krista (2023-05-18)
This paper examines how cash transfers that are not conditional on employment affect infant health. Leveraging variation in the amount of pandemic-era stimulus and child tax credit payments that families received based on household composition, I find that an additional $100 in transfers reduces the prevalence of low birthweight by 2-3 percent. Effects are larger for payments received later in pregnancy, but are of a similar magnitude across the population. These additional resources increased prenatal care and improved maternal health in ways that are consistent with families both increasing ...
Opportunity and Inclusive Growth Institute Working Papers , Paper 072

Briefing
Asymmetric responses to tax-induced changes in personal income: the 2013 payroll tax hike versus anticipated 2012 tax refunds
Cooper, Daniel H.; Bracha, Anat (2013)
As part of the Boston Earned Income Tax Credit Coalition's free tax preparation service offered at the Boston Roxbury Resource Center between January and April 2013, 945 low-to-moderate income individuals were asked about payroll tax changes, financial planning, and their personal characteristics. Using these survey responses, the authors calculated how these individuals planned to respond to the payroll tax hike and their tax refund. The results show that their marginal propensity to consume (MPC) out of the tax refund is 30 percentage points lower than their spending reaction to the tax ...
Public Policy Brief

Working Paper
Capital Income Taxation with Housing
Nakajima, Makoto (2020-01-07)
This paper quantitatively investigates capital income taxation in the general-equilibrium overlap-ping generations model with household heterogeneity and housing. Housing tax policy is found to aﬀect how capital income should be taxed, due to substitution between housing and non-housing capital. Given the existing U.S. preferential tax treatment for owner-occupied housing, the optimal capital income tax rate is close to zero (1%), contrary to the high optimal capital income tax rate found with overlapping generations models without housing. A low capital income tax rate improves welfare by ...
Working Papers , Paper 20-02

Working Paper
IPOs and Corporate Taxes
Dobridge, Christine L.; Lester, Rebecca; Whitten, Andrew (2022-11)
Does going public affect the amount and type of corporate tax planning? Using a panel of U.S. corporate tax return data from 1994 to 2018, we show that IPO completion is associated with the implementation of multinational income shifting strategies central to the current international tax policy debate. Specifically, firms (i) expand their foreign tax haven presence, (ii) enter into cross-border agreements that accompany intangible asset transfers to foreign subsidiaries, and (iii) increase their level of foreign related-party payments around the time that they go public. The effects are ...
Finance and Economics Discussion Series , Paper 2021-058

Working Paper
Social Security Reform with Heterogeneous Mortality
Jones, John Bailey; Li, Yue (2020-07-17)
Using a heterogeneous-agent, life-cycle model of Social Security claiming, labor supply and saving, we consider the implications of lifespan inequality for Social Security reform. Quantitative experiments show that welfare is maximized when baseline benefits are independent of lifetime earnings, the payroll tax cap is kept roughly unchanged, and claiming adjustments are reduced. Eliminating the earnings test and the income taxation of Social Security benefits provides additional gains. The Social Security system that would maximize welfare in a "2050 demographics" scenario, characterized by ...
Working Paper , Paper 20-09

Working Paper
Household Incomes in Tax Data : Using Addresses to Move from Tax Unit to Household Income Distributions
Splinter, David; Mortenson, Jacob; Larrimore, Jeff (2017-01-03)
Tax return data are increasingly the standard for tracking income statistics in the United States. However, these data have traditionally been limited by their inability to capture non-filers and to identify members of separate tax units living in the same household. We overcome these obstacles and create household records directly in the tax data using mailing address information included on tax forms. We then present the first set of tax-based household income and inequality measures for the entire income distribution. When comparing household income inequality results in the tax data to ...
Finance and Economics Discussion Series , Paper 2017-002

show more (58)

PREVIOUS / NEXT

Fed in Print

Search Results

FILTER BY year

FILTER BY Bank

FILTER BY Series

FILTER BY Content Type

FILTER BY Author

FILTER BY Jel Classification

FILTER BY Keywords