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dc.contributor.authorBrunner, Johann K.en
dc.contributor.authorPech, Susanneen
dc.date.accessioned2009-01-28T15:55:05Z-
dc.date.available2009-01-28T15:55:05Z-
dc.date.issued2006-
dc.identifier.urihttp://hdl.handle.net/10419/19106-
dc.description.abstractThe market for private life annuities is characterised by adverse selection, that is, contractsoffer lower than fair payoffs to individuals with low life expectancy. Moreover, lifeexpectancy and income have been found to be positively correlated. The paper shows that alinear tax on annuity payoffs, which raises more revenues from long-living individuals thanfrom short-living, represents an appropriate instrument for redistribution, in addition to anoptimally designed labour income tax. Further, we find that a nonlinear tax on annuity payoffscan be directly employed to correct the distortion of the rate of return caused by asymmetricinformation. These results are contrasted with theoretical findings concerning the role of a taxon capital income.en
dc.language.isoengen
dc.publisher|aCenter for Economic Studies and ifo Institute (CESifo) |cMunichen
dc.relation.ispartofseries|aCESifo Working Paper |x1642en
dc.subject.jelG2en
dc.subject.jelH2en
dc.subject.ddc330en
dc.subject.keywordoptimum taxationen
dc.subject.keywordlife annuitiesen
dc.subject.keywordadverse selectionen
dc.subject.stwOptimale Besteuerungen
dc.subject.stwLeibrenteen
dc.subject.stwKapitalertragsteueren
dc.subject.stwAdverse Selectionen
dc.titleOptimum taxation of life annuities-
dc.typeWorking Paperen
dc.identifier.ppn510010040en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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