{
  "title": "Does a Wealth Tax Improve Equality of Opportunity? Evidence from Norway",
  "publication": "IMF Working Papers, March 19, 2021",
  "sourceUrl": "https://www.imf.org/en/publications/wp/issues/2021/03/19/does-a-wealth-tax-improve-equality-of-opportunity-evidence-from-norway-50258",
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  "summary": "Does parental wealth inequality impact next generation labor income inequality? And does a tax on parental wealth affect the labor income distribution of the next generation?",
  "sections": [
    {
      "heading": "Research question and scope",
      "content": "- Does parental wealth inequality impact next generation labor income inequality?\n- Does a tax on parental wealth affect the labor income distribution of the next generation?\n- Focus: effects on wages rather than capital income.\n- Data: detailed intergenerational data from Norway."
    },
    {
      "heading": "Key empirical findings",
      "content": "- A net wealth of NOK 1 million increases wages of the children by NOK 14,000.\n- Children of wealthy parents have a higher labor income mobility.\n- The estimated hypothetical wage distribution without the wealth tax is more unequal.\n- Suggestive evidence indicates parental wealth is associated with higher labor risk taking."
    },
    {
      "heading": "Analytical emphasis",
      "content": "- Estimates concentrate on labor income (wages) rather than capital income.\n- Counterfactual analysis compares observed wage distribution with a hypothetical distribution without the wealth tax."
    },
    {
      "heading": "Subjects and keywords (as listed)",
      "content": "- Subjects: Capital income, Economic sectors, Financial crises, Income, Income distribution, Labor, National accounts, Taxes, Wages, Wealth tax\n- Keywords: Capital income, counterfactual income distribution, Equality of Opportunity, Income, Income distribution, Income Mobility, Inequality, labor income dispersion, Parental Wealth, Redistribution, Wages, Wealth Tax, wealth tax tax rate\n\n---\n\n Content in this bundle\n\n- Working Paper\n  - Working Paper (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Working Paper (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/wp/issues/2021/03/19/does-a-wealth-tax-improve-equality-of-opportunity-evidence-from-norway-50258"
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    "Authors: Kristoffer Berg, Shafik Hebous",
    "Published: March 19, 2021",
    "Series: IMF Working Papers",
    "DOI: https://doi.org/10.5089/9781513574417.001",
    "Does parental wealth inequality impact next generation labor income inequality?",
    "Does a tax on parental wealth affect the labor income distribution of the next generation?",
    "Focus: effects on wages rather than capital income.",
    "Data: detailed intergenerational data from Norway.",
    "A net wealth of NOK 1 million increases wages of the children by NOK 14,000.",
    "Children of wealthy parents have a higher labor income mobility.",
    "The estimated hypothetical wage distribution without the wealth tax is more unequal.",
    "Suggestive evidence indicates parental wealth is associated with higher labor risk taking.",
    "Estimates concentrate on labor income (wages) rather than capital income.",
    "Counterfactual analysis compares observed wage distribution with a hypothetical distribution without the wealth tax.",
    "Subjects: Capital income, Economic sectors, Financial crises, Income, Income distribution, Labor, National accounts, Taxes, Wages, Wealth tax",
    "Keywords: Capital income, counterfactual income distribution, Equality of Opportunity, Income, Income distribution, Income Mobility, Inequality, labor income dispersion, Parental Wealth, Redistribution, Wages, Wealth Tax, wealth tax tax rate",
    "**Working Paper**"
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