The Effect of Income Taxation on Consumption and Labor Supply
在生命周期模型中估计所得税对消费和劳动供给的激励效应，发现消费和工作时间在效用上是直接互补的，补偿净工资弹性约为0.3，边际福利成本为6%至20%。
We estimate the incentive effects of income taxation in a life-cycle model of consumption and labor supply without intratemporal strong separability. We find that consumption and hours worked are direct complements in utility; both increase with a compensated increase in the net wage. The compensated net wage elasticity is about 0.3, nearly double estimates for U.S. men from a linear labor supply specification. Estimated intertemporal elasticities indicate significant intertemporal smoothing of utility. The estimated marginal welfare cost of government revenue is 6%20%, which is about half the estimated welfare cost when additivity between consumption and leisure is incorrectly imposed.