A wealth tax at work

Thor Thoresen, Marius Alexander Kalleberg Ring, Odd E. Nygård () and Jon Epland ()
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Jon Epland: Statistics Norway, https://www.ssb.no/en/forskning/ansatte

Discussion Papers from Statistics Norway, Research Department

Abstract: Over the past decade, the question of whether and how to tax household wealth has risen to the forefront of policy debates across the world. Norway belongs to only a handful of countries that (still) levy an annual net wealth tax. We exploit rich Norwegian administrative data to perform descriptive analyses that address questions at the focal point of the wealth tax debate. We discuss how the taxation of wealth fits in with the personal income tax. We further investigate the redistributional effects of wealth taxation and explore the extent to which wealth taxation may cause adverse liquidity effects for private firms. Finally, we consider the effects of wealth taxation on charitable giving. Taken together, we see the evidence presented here as not weakening the case for upholding the tax: we find favorable distributional effects and the efficiency losses appear to be limited.

Keywords: Wealth tax; administrative data; distributional effects; efficiency loss (search for similar items in EconPapers)
JEL-codes: H21 H23 H25 H31 (search for similar items in EconPapers)
Pages: 61 pages
Date: 2021-08
New Economics Papers: this item is included in nep-acc, nep-eur, nep-pbe and nep-pub
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (4)

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Journal Article: A Wealth Tax at Work (2022)
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