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Authors
Advisor(s)
Abstract(s)
I relate hours worked with taxes on consumption and labor for
Portugal, France, Spain, United Kingdom and United States. From 1986 to
2001, hours per worker in Portugal decreased from 35.1 to 32.6. With the parameters for Portugal, the model predicts hours worked in 2001 with an error of only 12 min from the actual hours. Across countries, most predictions diff er from the data by 1 h or less. The model is not sensible to special assumptions on the parameters. I calculate the long run eff ects of taxes on consumption, hours, capital and welfare for Portugal. I extend the model to discuss implications for Social Security. I discuss the steady state and the transition from a pay-as-you- go to a fully funded system.
Description
Keywords
Labor supply Consumption tax Labor income tax Welfare Social security
Pedagogical Context
Citation
Silva, André C. (2008). "Taxes and labor supply : Portugal, Europe, and the United States". Portuguese Economic Journal, 7(2):101-124
Publisher
Springer Verlag