000			02987cam a22003617 4500
001			w29582
003			NBER
005			20211223110447.0
006			m o d
007			cr cnu||||||||
008			211222s2021 mau fo 000 0 eng d
100	1		_aFerey, Antoine.
245	1	0	_aSufficient Statistics for Nonlinear Tax Systems with Preference Heterogeneity / _cAntoine Ferey, Benjamin Lockwood, Dmitry Taubinsky.
260			_aCambridge, Mass. _bNational Bureau of Economic Research _c2021.
300			_a1 online resource: _billustrations (black and white);
490	1		_aNBER working paper series _vno. w29582
500			_aDecember 2021.
520	3		_aThis paper provides general and empirically implementable sufficient statistics formulas for optimal nonlinear tax systems in the presence of preference heterogeneity. We study unrestricted tax systems on income and savings (or other commodities) that implement the optimal direct-revelation mechanism, as well as simpler tax systems that impose common restrictions like separability between earnings and savings taxes. We characterize the optimum using familiar elasticity concepts and a sufficient statistic for across-income preference heterogeneity: the difference between the cross-sectional variation of savings with income, and the causal effect of income on savings. The Atkinson-Stiglitz Theorem is a knife-edge case corresponding to zero difference, and a number of other key results in optimal tax theory are subsumed as special cases. Our formulas also apply to other sources of across-income heterogeneity, including heterogeneity in rates of return on savings, inheritances, and the ability to shift income between tax bases. We provide tractable extensions of these results that include multidimensional heterogeneity, additional efficiency rationales for taxing heterogeneous returns, and corrective motives to encourage more saving. Applying these formulas in a calibrated model of the U.S. economy, we find that the optimal savings tax is positive and progressive.
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	_aD61 - Allocative Efficiency • Cost–Benefit Analysis _2Journal of Economic Literature class.
690		7	_aH21 - Efficiency • Optimal Taxation _2Journal of Economic Literature class.
690		7	_aH24 - Personal Income and Other Nonbusiness Taxes and Subsidies _2Journal of Economic Literature class.
700	1		_aLockwood, Benjamin.
700	1		_aTaubinsky, Dmitry.
710	2		_aNational Bureau of Economic Research.
830		0	_aWorking Paper Series (National Bureau of Economic Research) _vno. w29582.
856	4	0	_uhttps://www.nber.org/papers/w29582
856			_yAcceso en línea al DOI _uhttp://dx.doi.org/10.3386/w29582
942			_2ddc _cW-PAPER
999			_c388897 _d347459