@article{Duran-CabreEstellerMore2021,
  title = {A Quantitative Assessment of the Net Wealth Tax: The Spanish Experience},
  author = {{Dur{\'a}n-Cabr{\'e}}, Jos{\'e} M. and Esteller Mor{\'e}, Alejandro},
  year = {2021},
  journal = {CESifo Economic Studies},
  doi = {10.1093/cesifo/ifab004},
  url = {https://doi.org/10.1093/cesifo/ifab004},
  abstract = {There is growing debate, both social and academic, about the possibility of levying an annual net wealth tax. Until a few years ago, such a proposal appeared difficult to both implement and control, but recent technological innovations, which could greatly facilitate the periodic valuation of wealth, combined with improvements in international tax information sharing could make a ``modern wealth tax'' possible. Nonetheless, a number of challenges regarding its design still need to be addressed. Taking advantage of the Spanish experience\textemdash the only EU country to levy a wealth tax\textemdash we undertake a quantitative analysis of various key legal elements of the current tax (exemptions and the common income and wealth tax ceiling) by means of a tax simulator we have developed; we also analyze its redistributive power. Our results show that the family business exemption and the common ceilings are highly regressive. We also assess the effectiveness of alternative reforms with more comprehensive tax bases.},
  keywords = {Determinants of Wealth and Wealth Inequality,Wealth Taxation}
}

{"_id":"nuGTS3H4BLaGLQF8P","bibbaseid":"durncabr-estellermor-aquantitativeassessmentofthenetwealthtaxthespanishexperience-2021","author_short":["Durán-Cabré, J. M.","Esteller Moré, A."],"bibdata":{"bibtype":"article","type":"article","title":"A Quantitative Assessment of the Net Wealth Tax: The Spanish Experience","author":[{"propositions":[],"lastnames":["Durán-Cabré"],"firstnames":["José","M."],"suffixes":[]},{"propositions":[],"lastnames":["Esteller","Moré"],"firstnames":["Alejandro"],"suffixes":[]}],"year":"2021","journal":"CESifo Economic Studies","doi":"10.1093/cesifo/ifab004","url":"https://doi.org/10.1093/cesifo/ifab004","abstract":"There is growing debate, both social and academic, about the possibility of levying an annual net wealth tax. Until a few years ago, such a proposal appeared difficult to both implement and control, but recent technological innovations, which could greatly facilitate the periodic valuation of wealth, combined with improvements in international tax information sharing could make a ``modern wealth tax'' possible. Nonetheless, a number of challenges regarding its design still need to be addressed. Taking advantage of the Spanish experience— the only EU country to levy a wealth tax— we undertake a quantitative analysis of various key legal elements of the current tax (exemptions and the common income and wealth tax ceiling) by means of a tax simulator we have developed; we also analyze its redistributive power. Our results show that the family business exemption and the common ceilings are highly regressive. We also assess the effectiveness of alternative reforms with more comprehensive tax bases.","keywords":"Determinants of Wealth and Wealth Inequality,Wealth Taxation","bibtex":"@article{Duran-CabreEstellerMore2021,\n title = {A Quantitative Assessment of the Net Wealth Tax: The Spanish Experience},\n author = {{Dur{\\'a}n-Cabr{\\'e}}, Jos{\\'e} M. and Esteller Mor{\\'e}, Alejandro},\n year = {2021},\n journal = {CESifo Economic Studies},\n doi = {10.1093/cesifo/ifab004},\n url = {https://doi.org/10.1093/cesifo/ifab004},\n abstract = {There is growing debate, both social and academic, about the possibility of levying an annual net wealth tax. Until a few years ago, such a proposal appeared difficult to both implement and control, but recent technological innovations, which could greatly facilitate the periodic valuation of wealth, combined with improvements in international tax information sharing could make a ``modern wealth tax'' possible. Nonetheless, a number of challenges regarding its design still need to be addressed. Taking advantage of the Spanish experience\\textemdash the only EU country to levy a wealth tax\\textemdash we undertake a quantitative analysis of various key legal elements of the current tax (exemptions and the common income and wealth tax ceiling) by means of a tax simulator we have developed; we also analyze its redistributive power. Our results show that the family business exemption and the common ceilings are highly regressive. We also assess the effectiveness of alternative reforms with more comprehensive tax bases.},\n keywords = {Determinants of Wealth and Wealth Inequality,Wealth Taxation}\n}\n\n","author_short":["Durán-Cabré, J. M.","Esteller Moré, A."],"key":"Duran-CabreEstellerMore2021","id":"Duran-CabreEstellerMore2021","bibbaseid":"durncabr-estellermor-aquantitativeassessmentofthenetwealthtaxthespanishexperience-2021","role":"author","urls":{"link":"https://doi.org/10.1093/cesifo/ifab004"},"keyword":["Determinants of Wealth and Wealth Inequality","Wealth Taxation"],"metadata":{"authorlinks":{}},"downloads":8},"bibtype":"article","biburl":"https://bibbase.org/f/nKAPSyp34A9azBzJd/GCWealthProject_WealthResearchLibrary.bib","dataSources":["cJJHdqh9t5tR5wpLH","ya2CyA73rpZseyrZ8","F3pGsndC3BMm5kzaE","t77TCZsnrGgyo6dsY","BCPeddFnrLq82SA2k","2w2tCMfz9tagnuYcn","grHFPbjkekLtP8Rd5","reZhxJTZLXbC6Xb4R","CievPB5mG8TuzbbZ3","XqKxryftLF3GWq6cY","M7of5cge3GPiYqZve","PZFBspX8PwJz5LKpx","ve96mwrzCBBzfBff6","zu77p3c7mn9doiv7C","rGyABhQGe9pcQ9R2W","7X2xHQTrKka5yPvuD","gktz2DotJNwWxzBjM","s55XALJsj7pSgkAJ5","6TRStm8krC6i2nGYe","yda7rYQnmKoN94xAr","hHZFQp7q53h3BYKe8"],"keywords":["determinants of wealth and wealth inequality","wealth taxation"],"search_terms":["quantitative","assessment","net","wealth","tax","spanish","experience","durán-cabré","esteller moré"],"title":"A Quantitative Assessment of the Net Wealth Tax: The Spanish Experience","year":2021,"downloads":8}