对穷人财富的征税：来自丹麦老年支持资产审查的证据
Taxing the Wealth of the Poor: Evidence from the Danish Old-Age Support Asset Test
AER: Insights · 2024 · [{"name": "Niels Johannesen", "affiliation": []}, {"name": "Johan Sæverud", "affiliation": []}, {"name": "Emmanuel Saez", "affiliation": []}]
中文摘要
我们利用全面的行政数据，记录了丹麦一项老年支持计划的资产审查所引发的强烈行为反应。我们表明，相对于由可比但不符合资格的个体组成的控制组，处理组中审查所针对的流动资产的密度分布在门槛以下呈现出较大但分散的超额质量。利用面板结构的队列分析表明，该计划使门槛附近的流动资产减少约20%。对资产与现金提取的高频银行数据进行分析表明，门槛附近的超额质量在很大程度上反映的是永久性而非暂时性反应。（JEL D91, G51, H24, H55, I32, J14）
Abstract
We document strong behavioral responses to an asset test for an old-age support program in Denmark using comprehensive administrative data. We show that the density distribution of the liquid assets targeted by the test exhibits large but diffuse excess mass below the threshold for the treated group relative to control groups of comparable but ineligible individuals. A cohort analysis exploiting the panel structure suggests that the program reduces liquid assets by 20 percent around the threshold. Analyzing high-frequency bank data on assets and cash withdrawals shows that the excess mass around the threshold largely reflects permanent rather than temporary responses. (JEL D91, G51, H24, H55, I32, J14)