京都大学 大学院経済学研究科・経済学部

セミナーシリーズ

応用マクロ経済学セミナー(2019.9.27)

Sun-Bin Kim 氏(Yonsei University・Professor)

開催日:
2019年9月27日(金)16:30‐18:00
場所:
京都大学 経済研究所北館 202
言語:
英語
コーディネーター:
西山 慎一

タイトル:
“Macroeconomic Effects of Earned Income Tax Credit Policy: A Quantitative Analysis based on Heterogeneous Agent Life Cycle Model” (with Yongsung Chang and Jongsuk Han)

アブストラクト:
We analyze the macroeconomic effects of Earned Income Tax Credit (EITC) reform in Korea in 2019. The main features of the reform are abolishing the age restriction and relaxing the income and asset requirements. We build a heterogenous agents life-cycle model with labor supply adjustment along both extensive and intensive margins to examine effects of the reform not only on labor supply but also on aggregate variables. We calibrate the model to match the benchmark economy before the reform in 2018, and apply the new EITC scheme to quantify the aggregate variables changes from the benchmark. Employment rates increases but the working hours decrease under the reform. These changes are large for young, female single households. Aggregate output declines due to the reduction of aggregate capital and efficient unit of labors.

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