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Distributional effect of taxes and benefits in Korea

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  • Distributional effect of taxes and benefits in Korea
  • Sung, Myung Jae; Jeon, Byung Mok; Jun, Byung-Hill
  • Seoul National University


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Title Distributional effect of taxes and benefits in Korea
Similar Titles
Material Type Articles
Author(English)

Sung, Myung Jae; Jeon, Byung Mok; Jun, Byung-Hill

Publisher

[Seoul, S.Korea]:Seoul National University

Date 2009
Journal Title; Vol./Issue Korean Journal of Policy Studies:vol. 24(no. 1)
Pages 22
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Subject Economy < Financial Policy
Economy < Economic Administration
Holding Seoul National University

Abstract

A Simulation model has been developed in Korea, named Korea Institute of Public Finance Simulation Model (KIPFSIM), which aims to estimate the effects of taxes and transfers in Korea. The current version of KIPFSIM adopts a statice approach combined with a zero-elasticity assumption that there will be no change in labor supply and consumption decisions even after changes in taxes and transfers. KIPFSIM uses a representative sample from the House-hold Income and Expenditure Survey, compiled and released by the Statistical Office of Korea. Using KIPFSIM, we hypothetical changes in taxes and transfers, which is set to be enacted in 2009 and 2010. We found that the benefit of the income tax cut is concentrated mostly on high-income taxpayers in terms of absolute value, but more on middle-income taxpayers in terms of percentage of the tax burden. (The rest omitted)