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Supply is elastic, installment #1637

For taxes too: Using administrative data from Scandinavian countries, we provide evidence on international migration responses to wealth taxes and evaluate their aggregate economic implications.

  • 1 percentage point wealth tax increase reduces wealthy taxpayers by 2%
  • Potential 0.02% employment reduction for affected businesses
  • 0.07% decrease in investments and 0.10% drop in value added

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