NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH
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Isabel Z. Martinez

Universit├Ąt St. Gallen
SIAW-HSG
Bodanstrasse 8
CH-9000 St. Gallen
Switzerland

E-Mail: martinez@kof.ethz.ch
Institutional Affiliations: Universit├Ąt St. Gallen and LISER

NBER Working Papers and Publications

March 2020In It Together? Inequality and the Joint Distribution of Income and Wealth in Switzerland
in Measuring and Understanding the Distribution and Intra/Inter-Generational Mobility of Income and Wealth, Raj Chetty, John N. Friedman, Janet C. Gornick, Barry Johnson, and Arthur Kennickell, editors
Using tax data from several Swiss cantons, I present a set of empirical facts regarding the distribution of wealth and income in Switzerland. First, I shed light on the composition of wealth and income along the distribution, including the very top. I find substantial heterogeneity in the composition for different population groups. Second, I document the joint distribution of income and wealth, where I find a strong correlation between the two, especially at the very top. Third, wealth mobility over a ten year period is substantially lower than income mobility. Persistence in wealth rank is especially strong in the tails: the bottom 20% seem to be stuck in a wealth trap, while those in the top 1% hardly ever leave the top 10% at all unless they die. Fourth, intervivos gifts and inheritanc...
May 2018Intertemporal Labor Supply Substitution? Evidence from the Swiss Income Tax Holidays
with Emmanuel Saez, Michael Siegenthaler: w24634
This paper estimates intertemporal labor supply responses to two-year long income tax holidays staggered across cantons in Switzerland. Swiss cantons shifted from an income tax system based on the previous two years' income to a standard annual pay as you earn system, leaving 2 years of income untaxed. We find significant but quantitatively small responses of earnings with an inter-temporal elasticity of .05 overall. Some groups, such as high wage income earners and especially the self-employed display larger responses with elasticities around .1 and .2 respectively. We find no effects along the extensive margin at all and almost no effects on hours of work suggesting that responses are driven primarily by tax avoidance rather than real labor supply.
 
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