Wealth Tax Mobility and Tax Coordination

• 成果类型: Article
• 署名作者: Agrawal, David r.; Foremny, Dirk; Martinez-toledano, Clara
• 署名单位: University of California System; University of California Irvine; Leibniz Association; Ifo Institut; University of Barcelona; Imperial College London; Centre for Economic Policy Research - UK
• 刊物名称: AMERICAN ECONOMIC JOURNAL-APPLIED ECONOMICS
• ISSN/ISSBN: 1945-7782
• DOI: 10.1257/app.20220615
• 发表日期: 2025
• 页码: 402-430
• 关键词: top earners evidence; migration; taxation; returns

摘要

We study the effects of decentralized wealth taxation on mobility and the effectiveness of tax coordination at mitigating tax competition. We exploit the reintroduction of the Spanish wealth tax, after which all regions except Madrid levied positive tax rates. We find the mobility responses to wealth taxes are within the range of prior estimates with respect to income taxes. However, wealth tax mobility responses generate losses to personal income tax revenues that are six times larger than the direct losses to wealth taxes. Madrid could achieve higher total regional revenues by agreeing to a harmonized positive tax rate. ( JEL D31, G51, H24, H71, H73, H77)