Micro versus Macro Labor Supply Elasticities: The Role of Dynamic Returns to Effort
研究了努力动态回报下长期收入对税收的反应，利用丹麦行政数据发现长期弹性约0.5，远大于短期弹性0.2，对理解税收政策效果有参考价值。
We investigate long-run earnings responses to taxes in the presence of dynamic returns to effort. First, we develop a theoretical model of earnings determination with dynamic returns to effort. In this model, earnings responses are delayed and mediated by job switches. Second, using administrative data from Denmark, we verify our model's predictions about earnings and hours-worked patterns over the life cycle. Third, we provide a quasi-experimental analysis of long-run earnings elasticities. Informed by our model, the empirical strategy exploits variation among job switchers. We find that the long-run elasticity is around 0.5, considerably larger than the short-run elasticity of roughly 0.2.