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Relocation of the rich: Migration in response to top tax rate changes from spanish reforms

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A Spanish reform granted regions the authority to set income tax rates, resulting in substantial tax differentials. Using administrative data, conditional on moving, taxes have a significant effect on location choice. A one percent increase in the net-of-tax rate for a region relative to others increases the probability of moving to that region by 1.7 percentage points. We estimate an elasticity of the number of top taxpayers with respect to net-of-tax rates of 0.85. The mechanical increase in tax revenue due to higher tax rates is larger than the loss in tax revenue from the net out-flow of migration.

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The Review of Economics and Statistics, 2019, vol. 101, num. 2, p. 214-232

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Articles publicats en revistes (Economia)

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Relocation of the rich: Migration in response to top tax rate changes from spanish reforms