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Positional preferences for housing: income taxation as a second best policy
Umeå University, Faculty of Social Sciences, Umeå School of Business and Economics (USBE), Economics.
Umeå University, Faculty of Social Sciences, Umeå School of Business and Economics (USBE), Economics.
2014 (English)Report (Other academic)
Abstract [en]

This paper analyzes whether marginal taxation of labor and capital income might be useful second best instruments for internalizing the externalities caused by conspicuous housing consumption, when the government is unable to implement a first best corrective tax on housing wealth. The rationale for studying income taxation in this particular context is that first best taxes on housing wealth may be infeasible (at least in a shorter time perspective), while income taxes indirectly affect both the level and composition of accumulated wealth. We show that a suboptimally low tax on housing wealth provides an incentive for the government to subsidize financial saving and tax labor income at the margin.

Place, publisher, year, edition, pages
Umeå: Umeå universitet , 2014.
Series
Umeå economic studies, ISSN 0348-1018 ; 890
Keyword [en]
Relative consumption, housing, taxation, behavioral economics
National Category
Economics
Research subject
Economics
Identifiers
URN: urn:nbn:se:umu:diva-92095OAI: oai:DiVA.org:umu-92095DiVA: diva2:739555
Available from: 2014-08-21 Created: 2014-08-21 Last updated: 2014-09-24Bibliographically approved

Open Access in DiVA

fulltext(779 kB)263 downloads
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File name FULLTEXT01.pdfFile size 779 kBChecksum SHA-512
c8aee311c4f49ca4e6fa8cf41fa710eb3ccb749c18c251fe8ba0660ddf15d76abdabd8a3836186df670c3a8fc4410b1d11984726a54c6798d538acf67885368e
Type fulltextMimetype application/pdf

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http://www.usbe.umu.se/enheter/econ/ues/ues890/

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CiteExportLink to record
Permanent link

Direct link
Cite
Citation style
  • apa
  • ieee
  • modern-language-association-8th-edition
  • vancouver
  • Other style
More styles
Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
  • html
  • text
  • asciidoc
  • rtf