2017

Behavioral Responses to Wealth Taxes: Evidence from Sweden

Reprint No. 2017:66

Author(s): David SeimYear: 2017 Title: American Economic Journal: Economic Policy Volume (No.): 9 (4) Pages: 395–421
Online article (restrictions may apply)


This paper provides an empirical assessment of an annual wealth tax. Using Swedish administrative data, I estimate net-of-tax-rate elasticities of taxable wealth in the range [0.09, 0.27]. Cross-checking self-reported assets against asset data unavailable to the tax agency reveals that around a third of the elasticity estimates are due to underreporting of asset values. Difference-in-difference designs further suggest that the responses reflect evasion and avoidance rather than changes in saving.


Reference:
Seim, David (2017), "Behavioral Responses to Wealth Taxes: Evidence from Sweden". American Economic Journal: Economic Policy 9(4), 395–421.

David Seim

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