Intertemporal Labor Supply Substitution? Evidence from the Swiss Income Tax Holidays
American Economic Review · 2021 · Isabel Z. Martínez、Emmanuel Saez、Michael Siegenthaler
中文摘要
本文估计了瑞士各州交错实施的、为期两年的所得税免税期所引发的跨期劳动供给反应。各州从基于前两年收入征税的所得税制转为标准的按年源泉扣缴制度,使两年的收入免于纳税。我们发现工资收入的反应统计上显著但量级非常小,总体的跨期弹性为0.025。高工资收入者、尤其是自雇者表现出更大的反应,其弹性分别约为0.1和0.25,最有可能是由避税所驱动。我们完全没有发现广延边际上的效应。(JEL H24, H26, J22, J23, J31, R23)
Abstract
This paper estimates intertemporal labor supply responses to two-year long income tax holidays staggered across Swiss cantons. Cantons shifted from an income tax system based on the previous two years’ income to a standard annual pay as you earn system, leaving two years of income untaxed. We find significant but quantitatively very small responses of wage earnings with an intertemporal elasticity of 0.025 overall. High wage income earners and especially the self-employed display larger responses with elasticities around 0.1 and 0.25, respectively, most likely driven by tax avoidance. We find no effects along the extensive margin at all. (JEL H24, H26, J22, J23, J31, R23)