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This document discusses the effects of taxes and labor supply. It contains the following key points: 1. Taxes can affect labor supply through substitution effects and income effects. Higher taxes may decrease labor supply through the income effect. 2. The budget is set with or without taxes on earned income or other taxes. Labor supply is unlikely to change the budget on its own. 3. Empirically, elasticities depend on the demographic group: very low elasticities for prime-age married males, higher elasticities for teenagers, retirees, and participation elasticity is at least as important as classic elasticity.

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Adam Renfro
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64 views8 pages

8E/Iwerhpefsvwyttp) &Ewmg8Lisv) - Rgsqi 7Yfwxmxyxmsrijjigxjvsqxe/Iw

This document discusses the effects of taxes and labor supply. It contains the following key points: 1. Taxes can affect labor supply through substitution effects and income effects. Higher taxes may decrease labor supply through the income effect. 2. The budget is set with or without taxes on earned income or other taxes. Labor supply is unlikely to change the budget on its own. 3. Empirically, elasticities depend on the demographic group: very low elasticities for prime-age married males, higher elasticities for teenagers, retirees, and participation elasticity is at least as important as classic elasticity.

Uploaded by

Adam Renfro
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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