Saving Effects of a Real-Life Imperfectly Implemented Wealth Tax: Evidence from Norwegian Micro Data
AbstractCountries that implement wealth taxes make many practical compromises regarding relative treatment and approach to valuation of different categories of assets in order to ease assessment and liquidity difficulties with this form of taxation. Relying on Norwegian variation in tax and base rules, we illustrate the resulting complexity and evaluate the effect of taxation on saving and portfolio composition. Our results highlight the sensitivity of the strength of response to the base definition.
CitationAlstadsæter, Annette, Marie Bjørneby, Wojciech Kopczuk, Simen Markussen, and Knut Røed. 2022. "Saving Effects of a Real-Life Imperfectly Implemented Wealth Tax: Evidence from Norwegian Micro Data." AEA Papers and Proceedings, 112: 63-67. DOI: 10.1257/pandp.20221056
- D31 Personal Income, Wealth, and Their Distributions
- E21 Macroeconomics: Consumption; Saving; Wealth
- G51 Household Finance: Household Saving, Borrowing, Debt, and Wealth
- H24 Personal Income and Other Nonbusiness Taxes and Subsidies; includes inheritance and gift taxes
- K34 Tax Law