Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/200823 
Authors: 
Year of Publication: 
2018
Citation: 
[Journal:] KDI Journal of Economic Policy [ISSN:] 2586-4130 [Volume:] 40 [Issue:] 2 [Publisher:] Korea Development Institute (KDI) [Place:] Sejong [Year:] 2018 [Pages:] 53-73
Publisher: 
Korea Development Institute (KDI), Sejong
Abstract: 
Using an overlapping generations model, this paper examines tax policy effects across generations. The model incorporates housing assets separately from capital assets and includes taxes on labor income, capital income, consumption and housing assets. Tax reforms for each tax rate have different effects on tax burdens across generations and the overall efficiency of the economy, leading to different welfare costs for generations. Specifically, raising housing property taxes results in the smallest welfare loss by future generations, as in the model it does not hurt economic efficiency and the tax burden increases mainly for the elderly, who have accumulated housing assets in preparation for retirement.
Subjects: 
Tax Policy
Life Cycle
Generation
Housing
JEL: 
E62
H22
R21
Persistent Identifier of the first edition: 
Creative Commons License: 
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Document Type: 
Article

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