Crisis económica en tiempos del COVID-19: La hora de la política fiscal… y de la gestión pública

1. La pandemia del COVID-19: un escenario desconocido. 2. El papel de la política fiscal y su complementariedad con la política monetaria. 3. El papel de la Unión Europea en el diseño de medidas. 4. La necesidad de un adecuado diseño y una gestón eficaz de los programas fiscales

How do taxable income responses to marginal tax rates differ by sex, marital status and age ? Evidence from Spanish dual income tax

El objetivo de este trabajo es analizar cómo los contribuyentes españoles respondieron a la introducción del modelo de doble imposición del impuesto sobre la renta de las personas físicas en 2007. Los autores estiman la elasticidad de la renta imponible (Rentabilidad) respecto al tipo impositivo marginal neto para diferentes grupos de contribuyentes por sexo, estado civil y edad, separando el efecto sustitución del efecto renta. Para el análisis empírico, los autores utilizan microdatos del panel de la declaración del IRPF difundido por el Instituto Español de Estudios Fiscales. Los principales resultados muestran que la reforma fiscal de 2007 dio como resultado un rango de valores de elasticidad de 0,41 a 0,43, mientras que el efecto de renta estimado arroja un valor negativo de -0,18. Los resultados para los diferentes grupos de contribuyentes son los siguientes: la eliminación de los jubilados de la muestra reduce significativamente el ETI; la elasticidad es mayor para las mujeres que para los hombres; los solteros tienen una elasticidad considerablemente mayor que los contribuyentes casados; y el ETI disminuye con la edad. Además, los autores encuentran que el costo marginal de los fondos públicos aumentó después de la reforma, y la tasa impositiva marginal máxima está por encima de lo óptimo.The aim of this paper is to analyse how Spanish taxpayers responded to the introduction of the dual personal income tax model in 2007. The authors estimate the elasticity of taxable income (ETI) with respect to the marginal net tax rate for different groups of taxpayers by sex, marital status and age, separating the substitution effect from the income effect. For the empirical analysis, the authors use microdata from the Spanish personal income tax return panel disseminated by the Spanish Institute of Fiscal Studies. The main results show that the 2007 tax reform resulted in a range of elasticity values from 0.41 to 0.43, while the estimated income effect yields a negative value of –0.18. The results for the different taxpayer groups are as follows: the removal of retired people from the sample significantly reduces the ETI; elasticity is higher for women than for men; single people have a considerably higher elasticity than married taxpayers; and the ETI decreases with age. Additionally, the authors find that the marginal cost of public funds increased after the reform, and the top marginal tax rate is above optimal.Ministerio de Economía y Competitividad. Proyecto ECO2016-76506-C4-3-R, para Jorge Onrubia FernándezpeerReviewe

Mathematical Visions: The Pursuit of Geometry in Victorian England (Book Review)

Reviewed Title: Joan L. Richards. Mathematical Visions: The Pursuit of Geometry in Victorian England. xiii + 266 pp., illus., figs., bibl., index. Boston/New York: Academic Press, Harcourt Brace Jovanovich, 1988

Personal income distribution and inequality at the local level. An estimation for Spain using a tax microdata-based model

Local income data is a key element to analyze residents’ standard of living and wellbeing as well as an important economic indicator, very used in a wide range of studies related to regional convergence, urban economics, fiscal federalism and spatial welfare analysis. Despite its importance, there is a lack of official data on local incomes and, most importantly, on local income distributions. In this paper we use official data on personal income tax returns and a reweighting procedure to derive a representative income sample at the local level. Unlike previous attempts in the literature to get local income estimates, the results obtained allow us to derive not only an average value of income but its local distribution, a valuable and informative tool for distributional and income inequality analysis. We apply this methodology to Spanish micro-data and illustrate its potential use in income inequality analysis by means of computed Gini and Atkinson coefficients for a set of municipalities

Estimating Engel curves: a new way to improve the SILC-HBS matching process using GLM methods

Microdata are required to evaluate the distributive impact of the taxation system as a whole (direct and indirect taxes) on individuals or households. However, in European Union countries this information is usually distributed into two separate surveys: the Household Budget Surveys (HBS), including total household expenditure and its composition, and EU Statistics on Income and Living Conditions (EU-SILC), including detailed information about households'' income and direct (but not indirect) taxes paid. We present a parametric statistical matching procedure to merge both surveys. For the first stage of matching, we propose estimating total household expenditure in HBS (Engel curves) using a GLM estimator, instead of the traditionally used OLS method. It is a better alternative, insofar as it can deal with the heteroskedasticity problem of the OLS estimates, while making it unnecessary to retransform the regressors estimated in logarithms. To evaluate these advantages of the GLM estimator, we conducted a computational Monte Carlo simulation. In addition, when an error term is added to the deterministic imputation of expenditure in the EU-SILC, we propose replacing the usual Normal distribution of the error with a Chi-square type, which allows a better approximation to the original expenditures variance in the HBS. An empirical analysis is provided using Spanish surveys for years 2012–2016. In addition, we extend the empirical analysis to the rest of the European Union countries, using the surveys provided by Eurostat (EU-SILC, 2011; HBS, 2010)

Desigualdad de la renta y redistribución a través del IRPF, 1999-2007

El objetivo de este trabajo es analizar cuál ha sido el comportamiento del IRPF español en términos de progresividad, redistribución y bienestar social a lo largo de la extensa fase de crecimiento económico comprendida entre 1999 y 2007. Para cada uno de los tres modelos de IRPF aplicados en este periodo (fruto de las reformas aprobadas en las Leyes 40/1998, 46/2002 y 35/2006) el trabajo evalúa las aportaciones a la progresividad y el efecto redistributivo de los distintos elementos de la estructura del impuesto, de acuerdo con la adaptación de la metodología de Pfähler (1990) y Lambert (2001) a las peculiaridades de las estructuras de gravamen consideradas. El análisis empírico se ha realizado tanto para declarantes como para hogares fiscales a partir de los microdatos del Panel de Declarantes de IRPF 1999-2007 del Instituto de Estudios Fiscales

Dependency ratios in healthy ageing.

Although people are living longer, there is no discernible pattern about the quality of life in an increasing lifespan. This restricts our capacity to predict and prepare for the consequences of population ageing. Accordingly, we propose a population ageing indicator that combines demographic and disability prevalence data through a characteristics approach and explore different scenarios to account for uncertainty in life quality projections. Our results, available for 186 countries, show that countries that rank older under conventional chronological ageing measures may rank younger under our qualitative measure. Additionally, we find substantial differences in our projections depending on different health assumptions, demonstrating the risk of using ageing indicators that make implicit assumptions about health characteristics.This work is the result of a 2018 Ignacio H. Larramendi Research Grant of Fundación MAPFRE. AR-U' work received funding from the Gillings Fellowship in Global Public Health and Autism Research, Grant Award YOG054. JO acknowledges the financial support of Spanish Ministry of Science, Innovation and Universities (formerly, Ministry of Economy and Competitiveness), Project ECO2016-76506-C4-3-R

A generalization of the Pfähler-Lambert decomposition

The aim of this paper is to provide a generalization of the Pfähler (1990) and Lambert (1989, 2001) decomposition that allows us to overcome some limitations of the original methodology. In particular, our proposal allows avoiding the problem of sequentiality when the tax has several types of deductions or allowances, schedules or tax credits. In addition, our alternative decomposition is adapted to the dual income class of tax structures. Moreover, in order to adapt this methodology to real-world taxes, our alternative includes the re-ranking effects of real taxes, caused by the existence of differentiated treatments based on non-income attributes. This theoretical proposal is illustrated with an empirical analysis for the Spanish Personal Income Tax reform enforced in 2007

EFECTOS DISTRIBUTIVOS Y SOBRE EL BIENESTAR SOCIAL DE LA REFORMA DEL IRPF

The objective of this article is to analyse the implications of recently spanish personal income tax (IRPF) reform for the distribution of personal income, and additionally to provide a comparative evaluation in terms of social welfare of both taxes. Empirical analyses is performed by a simulation exercise, employing the microdata contained in the Institute for Fiscal Studies’ IRPF Panel of Taxpayers. Classification-JEL : D31, D63, H23, H24personal income tax, tax reform, income redistribution, social welfare