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HOW PROGRESSIVE IS THE MOST POPULAR TAX SCHEME? THE CASE OF SOUTH KOREAopen access
- Authors
- Lim, Taejun; Kim, Aram
- Issue Date
- Jun-2023
- Publisher
- Hitotsubashi University
- Keywords
- Tax Progressivity; Optimal Tax; Political Economy; Redistribution
- Citation
- Hitotsubashi Journal of Economics, v.64, no.1, pp 1 - 17
- Pages
- 17
- Indexed
- SSCI
SCOPUS
- Journal Title
- Hitotsubashi Journal of Economics
- Volume
- 64
- Number
- 1
- Start Page
- 1
- End Page
- 17
- ISSN
- 0018-280X
2436-097X
- Abstract
- Using a structural model and the 2018 Korean economy data, we show that even the individuals with relatively low income do not always prefer greater tax progressivity due to reduced economic efficiency (i.e., decrease in aggregate output and consumption) it accompanies. Hence, the counterfactual analyses reveal that the most popularly supported tax and redistribution policy in this economy does not uphold the optimal degree of progressivity for social welfare maximization and sustains about 0.31 of after-tax Gini.
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Related Researcher
- Lim, Tae Jun
- College of the Social Science (Department of Economics)