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Behavioral Responses to Wealth Taxes: Evidence from Sweden

David Seim

American Economic Journal: Economic Policy, 2017, vol. 9, issue 4, 395-421

Abstract: 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.

JEL-codes: H24 H26 H31 (search for similar items in EconPapers)
Date: 2017
Note: DOI: 10.1257/pol.20150290
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