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Type: Journal Articles Authors: James Sefton, Justin van de Ven and Martin Weale ISSN: Print: 0143-5671 Online: 1475-5890
Published in: Fiscal Studies, Vol. 26, No. 1, March 2005
Volume, issue, pages: Vol. 26, No. 1, pp. 83-118
JEL classification: C61, D58, E20, H31, I30
We develop a simulation model of household behaviour in which both the consumption/saving and labour/leisure choices are endogenous. This model is used to explore the effects of the UK and Danish state tax and benefit systems on the labour supply of workers aged 50 or over. We find that, in broad terms, differences in labour force participation can be accounted for by differences in benefit structures. Furthermore, our simulations suggest that the UK system is preferred by young people while the Danish arrangement which imposes a larger tax burden and provides larger welfare benefits is chosen by people of 50 or older. Notably, people older than 60 are in the majority in the simulated population. The Danish system does not promote notably greater equality over the lifetime, but it does underpin a higher level of consumption for people of 50 or older. Search |
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