| 000 | 02432cam a22004697 4500 | ||
|---|---|---|---|
| 001 | w1947 | ||
| 003 | NBER | ||
| 005 | 20211020115115.0 | ||
| 006 | m o d | ||
| 007 | cr cnu|||||||| | ||
| 008 | 210910s1986 mau fo 000 0 eng d | ||
| 100 | 1 |
_aSkinner, Jonathan S. _920850 |
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| 245 | 1 | 4 |
_aThe Welfare Cost of Uncertain Tax Policy / _cJonathan S. Skinner. |
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_aCambridge, Mass. _bNational Bureau of Economic Research _c1986. |
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_a1 online resource: _billustrations (black and white); |
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| 490 | 1 |
_aNBER working paper series _vno. w1947 |
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| 500 | _aJune 1986. | ||
| 520 | 3 | _aFrequent shifts in tax policy can increase uncertainty about future | |
| 520 | 3 | _anet-of-tax wages and interest income. This paper measures the impact of | |
| 520 | 3 | _auncertain tax policy on savings, labor supply, and welfare in the United | |
| 520 | 3 | _aStates. A vector autoregression model with six variables was estimated | |
| 520 | 3 | _awhich found the standard error of the one-year-ahead forecast for the wage | |
| 520 | 3 | _atax to be 1.8 percentage points, and for the interest income tax 3.3 | |
| 520 | 3 | _apercentage points. Furthermore, the negative correlation between | |
| 520 | 3 | _aunanticipated shifts in the real interest rate and changes in the interest | |
| 520 | 3 | _aincome tax amplifies the variability in the real after-tax return. | |
| 520 | 3 | _aA two-period model of consumption and labor supply is developed that | |
| 520 | 3 | _ameasures the effect of uncertain taxes on savings, work hours, and taxpayer | |
| 520 | 3 | _awelfare. Using plausible empirical parameters, it is shown that removing | |
| 520 | 3 | _aall uncertainty about future tax policy can lead to a welfare gain of 0.4 | |
| 520 | 3 | _apercent of national income, or about 12 billion dollars in 1985. | |
| 530 | _aHardcopy version available to institutional subscribers | ||
| 538 | _aSystem requirements: Adobe [Acrobat] Reader required for PDF files. | ||
| 538 | _aMode of access: World Wide Web. | ||
| 588 | 0 | _aPrint version record | |
| 690 | 7 |
_aE - Macroeconomics and Monetary Economics _2Journal of Economic Literature class. |
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| 710 | 2 | _aNational Bureau of Economic Research. | |
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_aWorking Paper Series (National Bureau of Economic Research) _vno. w1947. |
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| 856 | 4 | 0 | _uhttps://www.nber.org/papers/w1947 |
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_yAcceso en línea al DOI _uhttp://dx.doi.org/10.3386/w1947 |
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_2ddc _cW-PAPER |
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_c346602 _d305164 |
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