Arbeitspapier
Age-Targeted Income Taxation, Labor Supply, and Retirement
This paper studies the life-cycle effects of favorable marginal tax treatment of older workers on their optimal life cycle labor supply, retirement timing, and savings. I develop a structural model in continuous time where the life-cycle of a representative agent is divided into three distinct phases: pre-treatment, post-treatment, and retirement. Solutions for consumption/savings, labor supply/leisure, and retirement timing are then obtained by solving the model as a salvage value problem. I then calibrate the model to Swedish earnings data and find that the increased extensive margin labor supply is partially offset by a reduction in hours worked during the pre-treatment period. The total effect is however an increase in life-cycle labor supply and consumption.
- Sprache
-
Englisch
- Erschienen in
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Series: CESifo Working Paper ; No. 8988
- Klassifikation
-
Wirtschaft
Intertemporal Household Choice; Life Cycle Models and Saving
Time Allocation and Labor Supply
Retirement; Retirement Policies
- Thema
-
retirement age
life cycle
tax heterogeneity
savings consumption
leisure
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Gustafsson, Johan
- Ereignis
-
Veröffentlichung
- (wer)
-
Center for Economic Studies and Ifo Institute (CESifo)
- (wo)
-
Munich
- (wann)
-
2021
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:43 MEZ
Datenpartner
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Objekttyp
- Arbeitspapier
Beteiligte
- Gustafsson, Johan
- Center for Economic Studies and Ifo Institute (CESifo)
Entstanden
- 2021
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