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  5. Saving Effects of a Real-Life Imperfectly Implemented Wealth Tax: Evidence from Norwegian Micro Data

AEA Papers and Proceedings

ISSN 2574-0768 (Print) | ISSN 2574-0776 (Online)

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Saving Effects of a Real-Life Imperfectly Implemented Wealth Tax: Evidence from Norwegian Micro Data

  • Annette Alstadsæter
  • Marie Bjørneby
  • Wojciech Kopczuk
  • Simen Markussen
  • Knut Røed
AEA Papers and Proceedings
vol. 112, May 2022
(pp. 63–67)
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Abstract

Countries that implement wealth taxes make many practical compromises regarding relative treatment and approach to valuation of different categories of assets in order to ease assessment and liquidity difficulties with this form of taxation. Relying on Norwegian variation in tax and base rules, we illustrate the resulting complexity and evaluate the effect of taxation on saving and portfolio composition. Our results highlight the sensitivity of the strength of response to the base definition.

Citation

Alstadsæter, Annette, Marie Bjørneby, Wojciech Kopczuk, Simen Markussen, and Knut Røed. 2022. "Saving Effects of a Real-Life Imperfectly Implemented Wealth Tax: Evidence from Norwegian Micro Data." AEA Papers and Proceedings, 112: 63–67. DOI: 10.1257/pandp.20221056

Additional Materials

JEL Classification

  • D31 Personal Income, Wealth, and Their Distributions
  • E21 Macroeconomics: Consumption; Saving; Wealth
  • G51 Household Finance: Household Saving, Borrowing, Debt, and Wealth
  • H24 Personal Income and Other Nonbusiness Taxes and Subsidies; includes inheritance and gift taxes
  • K34 Tax Law