Extimating Life Cycle labor Supply Tax Effects
提出了一个适用于面板数据的生命周期劳动供给模型，考虑了跨期累进税制，并采用两阶段固定效应广义矩方法估计参数。模拟显示，近期税改虽非自融资，但使男性劳动供给增加约3%，无谓损失减少约16%。
We present an econometrically tractable life cycle labor supply model for panel data including intertemporally progressive taxes on uncertai wage and nonwge incomes. Our two‐stage fixedeffects generalized method‐of‐moments approach first extimates intretemporal and then intertemporal preferences. Specification testing domonstrates the value of incorporating joint progressive taxation of labor and nonlabor incomes, Results for prime‐age men emphasize the roles played by hourly wage endogeneity, worker‐specific effects, the measure of the rate of pay, and intemporal budget constaint, nonseparability, Simulations indicate that recent tax reform, while not self‐financing, stimulated made labor supplied by about 3 percent and reduced deadweight loss about 16 percent.