Intertemporal Labor Supply Substitution? Evidence from the Swiss Income Tax Holidays
利用瑞士各州交错实施的两年所得税免税期，估计跨期劳动供给反应，发现总体跨期弹性仅为0.025，高收入者和自雇者弹性较大，但主要由避税驱动，且无广泛边际效应。
This paper estimates intertemporal labor supply responses to two-year long income tax holidays staggered across Swiss cantons. Cantons shifted from an income tax system based on the previous two years’ income to a standard annual pay as you earn system, leaving two years of income untaxed. We find significant but quantitatively very small responses of wage earnings with an intertemporal elasticity of 0.025 overall. High wage income earners and especially the self-employed display larger responses with elasticities around 0.1 and 0.25, respectively, most likely driven by tax avoidance. We find no effects along the extensive margin at all.