A theory of income taxation under multidimensional skill heterogeneity:
We develop a unifying framework for optimal income taxation in multi-activity economies with general production technologies. Agents are characterized by an N-dimensional skill vector that captures intrinsic abilities in N activities. The private return to each activity depends on individual skill a...
Gespeichert in:
| Hauptverfasser: | , |
|---|---|
| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
München
CESifo
2015
|
| Schriftenreihe: | CESifo working paper
5165 : Category 1, Public Finance |
| Online-Zugang: | kostenfrei |
| Zusammenfassung: | We develop a unifying framework for optimal income taxation in multi-activity economies with general production technologies. Agents are characterized by an N-dimensional skill vector that captures intrinsic abilities in N activities. The private return to each activity depends on individual skill and an aggregate activity-specific return, which is a general function of the economy-wide distribution of efforts across activities. The optimal tax schedule features a multiplicative income-specific correction to an otherwise standard tax formula. Because taxes affect the relative returns to different activities, this correction diverges, in general, from the weighted average of the Pigouvian taxes that would align private and social returns in each activity. We characterize this divergence as a function of relative return elasticities, and its implications for the shape of the income tax both generally and in a number of applications, including externality-free economies with general equilibrium effects, economies with increasing or decreasing returns to scale, zero-sum activities such as bargaining or rent extraction, and positive or negative spillovers. |
| Beschreibung: | 1 Online-Ressource (45 S.) graph. Darst. |
| Format: | . - Acrobat Reader |
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| 520 | 1 | |a We develop a unifying framework for optimal income taxation in multi-activity economies with general production technologies. Agents are characterized by an N-dimensional skill vector that captures intrinsic abilities in N activities. The private return to each activity depends on individual skill and an aggregate activity-specific return, which is a general function of the economy-wide distribution of efforts across activities. The optimal tax schedule features a multiplicative income-specific correction to an otherwise standard tax formula. Because taxes affect the relative returns to different activities, this correction diverges, in general, from the weighted average of the Pigouvian taxes that would align private and social returns in each activity. We characterize this divergence as a function of relative return elasticities, and its implications for the shape of the income tax both generally and in a number of applications, including externality-free economies with general equilibrium effects, economies with increasing or decreasing returns to scale, zero-sum activities such as bargaining or rent extraction, and positive or negative spillovers. | |
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| author | Rothschild, Casey G. Scheuer, Florian 1980- |
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| illustrated | Not Illustrated |
| indexdate | 2024-07-10T07:12:32Z |
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| language | English |
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| spelling | Rothschild, Casey G. Verfasser (DE-588)131887343 aut A theory of income taxation under multidimensional skill heterogeneity Casey Rothschild ; Florian Scheuer München CESifo 2015 1 Online-Ressource (45 S.) graph. Darst. txt rdacontent c rdamedia cr rdacarrier CESifo working paper 5165 : Category 1, Public Finance We develop a unifying framework for optimal income taxation in multi-activity economies with general production technologies. Agents are characterized by an N-dimensional skill vector that captures intrinsic abilities in N activities. The private return to each activity depends on individual skill and an aggregate activity-specific return, which is a general function of the economy-wide distribution of efforts across activities. The optimal tax schedule features a multiplicative income-specific correction to an otherwise standard tax formula. Because taxes affect the relative returns to different activities, this correction diverges, in general, from the weighted average of the Pigouvian taxes that would align private and social returns in each activity. We characterize this divergence as a function of relative return elasticities, and its implications for the shape of the income tax both generally and in a number of applications, including externality-free economies with general equilibrium effects, economies with increasing or decreasing returns to scale, zero-sum activities such as bargaining or rent extraction, and positive or negative spillovers. . - Acrobat Reader Scheuer, Florian 1980- Verfasser (DE-588)139706151 aut CESifo working paper 5165 : Category 1, Public Finance (DE-604)BV014083264 5165 https://www.cesifo.org/DocDL/cesifo1_wp5165.pdf Verlag kostenfrei Volltext |
| spellingShingle | Rothschild, Casey G. Scheuer, Florian 1980- A theory of income taxation under multidimensional skill heterogeneity CESifo working paper |
| title | A theory of income taxation under multidimensional skill heterogeneity |
| title_auth | A theory of income taxation under multidimensional skill heterogeneity |
| title_exact_search | A theory of income taxation under multidimensional skill heterogeneity |
| title_full | A theory of income taxation under multidimensional skill heterogeneity Casey Rothschild ; Florian Scheuer |
| title_fullStr | A theory of income taxation under multidimensional skill heterogeneity Casey Rothschild ; Florian Scheuer |
| title_full_unstemmed | A theory of income taxation under multidimensional skill heterogeneity Casey Rothschild ; Florian Scheuer |
| title_short | A theory of income taxation under multidimensional skill heterogeneity |
| title_sort | a theory of income taxation under multidimensional skill heterogeneity |
| url | https://www.cesifo.org/DocDL/cesifo1_wp5165.pdf |
| volume_link | (DE-604)BV014083264 |
| work_keys_str_mv | AT rothschildcaseyg atheoryofincometaxationundermultidimensionalskillheterogeneity AT scheuerflorian atheoryofincometaxationundermultidimensionalskillheterogeneity |