Payroll Taxes, Firm Behavior, and Rent Sharing: Evidence from a Young Workers' Tax Cut in Sweden

• 成果类型: Article
• 署名作者: Saez, Emmanuel; Schoefer, Benjamin; Seim, David
• 署名单位: University of California System; University of California Berkeley; Stockholm University
• 刊物名称: AMERICAN ECONOMIC REVIEW
• ISSN/ISSBN: 0002-8282
• DOI: 10.1257/aer.20171937
• 发表日期: 2019
• 页码: 1717-1763
• 关键词: CREATION; wages; pay

摘要

This paper uses administrative data to analyze a large employer-borne payroll tax rate cut for young workers in Sweden. We find no effect on-net-of-tax wages of young treated workers relative to slightly older untreated workers, and a 2-3 percentage point increase in youth employment. Firms employing many young workers receive a larger tax windfall and expand right after the reform: employment, capital, sales, and profits increase. These effects appear stronger in credit-constrained firms. Youth-intensive firms also increase the wages of all their workers collectively, young as well as old, consistent with rent sharing of the tax windfall.