| Nº Sistema |
000475771 |
| Autor |
 Jiménez, Gabriel |
| Autor |
Martínez Miera, David |
|
Peydró, José Luis |
| Título |
Who truly bears (bank) taxes? [Recurso electrónico] : evidence from only shifting statutory incidence / Gabriel Jiménez; David Martínez-Miera; José-Luis Peydró. |
| Publicado en |
Journal of Public Economics [Artículos], v. 240, December 2024, 105173 |
| Nota general |
Artículo de revista |
| Resumen |
We analyze the effects of only shifting the statutory incidence of taxes by exploiting: (i) a mortgage tax shift from being levied on borrowers to being levied on banks, without tax rate changes; (ii) some areas –for historical reasons– being tax-exempt (or having different tax rates); and (iii) administrative data. After the shift, the average mortgage rate increases, less for households with more banking opportunities or with higher income. The tax pass-through is nonexistent for high-income households, but complete for low-income households. Consistently, banks’ risk-taking increases, especially by more policy-affected banks. Results are consistent with a model in which all borrowers have tax saliency issues and differ in their bargaining power vis-à-vis the lender. Overall, the evidence is inconsistent with the irrelevance of statutory incidence and suggests unintended consequences on inequality and banks’ risk-taking. [Resumen de autor] [eng] |
| Restricciones |
Acceso electrónico RESTRINGIDO por IP a los usuarios de la Biblioteca del Banco de España |
| Acceso electrónico |
 Acceso al texto completo. |
| Relacionado con |
Documentos de Trabajo / Banco de España ; 2040 |
| Clasificación |
E2-Teoría monetaría. |
|
G21-Instituciones crediticias de depósito. |
|
G22-Instituciones financieras no bancarias. |
|
H3-Impuestos y otros ingresos públicos. |
| Materia |
Impuestos |
|
Bancos |
|
Riesgos |
|
Hipotecas |
| Materia |
España |
