CHAP22Taxes on Savings 公共金融与 及公共政策课件.pptVIP

Chapter 22 Taxes on Savings ? 2007 Worth Publishers Public Finance and Public Policy, 2/e, Jonathan Gruber Prepared by:FERNANDO QUIJANO, YVONN QUIJANO,KYLE THIEL APARNA SUBRAMANIAN 22 Taxes on Savings ? 2007 Worth Publishers Public Finance and Public Policy, 2/e, Jonathan Gruber Public Finance and Public Policy, 2/e Jonathan Gruber Taxes on Savings 22.3 Tax Incentives for Retirement Savings 22.2 Alternative Models of Savings 22.1 Taxation and Savings— Theory and Evidence Chapter 22 22.4 Conclusion capital income taxation The taxes levied on the returns from savings. Taxation and Savings—Theory and Evidence 22 . 1 intertemporal choice The choice individuals make about how to allocate their consumption over time. Traditional Theory savings The excess of current income over current consumption. Taxation and Savings—Theory and Evidence 22 . 1 Traditional Theory A Simplified Model Taxation and Savings—Theory and Evidence 22 . 1 Traditional Theory A Simplified Model intertemporal budget constraint The measure of the rate at which individuals can trade off consumption in one period for consumption in another period. The opportunity cost of first-period consumption is the interest income not earned on savings for second-period consumption. Taxation and Savings—Theory and Evidence 22 . 1 Traditional Theory Substitution and Income Effects of Taxes on Savings Taxation and Savings—Theory and Evidence 22 . 1 Evidence: How Does the After-Tax Interest Rate Affect Savings? Studying the connections between after-tax interest rates and savings is a difficult problem. Although we can measure a given worker’s wage, it is hard to measure the appropriate interest rate for any given saver. The interest that can be earned on any type of savings typically changes over time in the same way for all individuals, making it hard to find appropriate treatment and control groups for studying how savings respond to interest rate changes. Taxation and Savings—Theory and Evidence 22