Calendrier du 25 octobre 2022
PSI-PSE (Petit Séminaire Informel de la Paris School of Economics) Seminar
Du 25/10/2022 de 17:00 à 18:00
Salle R1.13
GIURICKOVIC Enrichetta (PSE)
How do Firms Adjust Employment in Reaction to Shocks? Evidence from France
Applied Economics Lunch Seminar
Du 25/10/2022 de 12:30 à 13:30
Campus Jourdan, R1.09
LOCKS Gedeão (University of Paris 1 Panthéon-Sorbonne)
Behavioral Responses to Inheritance Taxes: Evidence from Brazil
In this paper, I examine behavioral responses to inheritances and gifts taxes in
Brazil using inheritance tax microdata (2014-2020). Using bunching and differencesin-differences (DD) techniques, I provide compelling evidence that individuals react to
tax hikes by re-timing their wealth transfers. I leverage intra-national variation from six
reforms that modified the inheritances and gifts tax design to identify how they shape
individual responses. I find that anticipatory effects respond mostly to the underlying
variation in gifts taxes and changes in the tax system (flat versus progressive rates).
Moreover, I use the DD approach to investigate the reform’s medium-run effects. I
find that evasion increased, as the number of declared bequests dropped substantially
after the reforms were implemented. I rule out the possibility that this effect is driven
by migration. Lastly, I find that that reforms did not impact inheritance and gift
tax revenues up to 5 years after the reform implementation. A back-of-the-envelope
calculation suggests that roughly 30% of the projected tax revenue increase is lost
through re-timing responses.