Data and Code for: Taxing the Wealth of the Poor: Evidence from the Danish Old-Age Support Asset Test

Principal Investigator(s):  View help for Principal Investigator(s) Niels Johannesen, Oxford University and University of Copenhagen; Johan Sæverud, University of Copenhagen; Emmanuel Saez, University of California Berkeley

Version:  View help for Version V1

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Project Citation: 

Johannesen, Niels, Sæverud, Johan, and Saez, Emmanuel. Data and Code for: Taxing the Wealth of the Poor: Evidence from the Danish Old-Age Support Asset Test. Nashville, TN: American Economic Association [publisher], 2026. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2026-03-25. https://doi.org/10.3886/E231843V1

Project Description

Summary:  View help for Summary
data and/or code accompanying the article

Abstract:
We document strong behavioral responses to an asset test for an old-age support program in Denmark using comprehensive administrative data. We show that the density distribution of the liquid assets targeted by the test exhibits large but diffuse excess mass below the threshold for the treated group relative to control groups of comparable but ineligible individuals. A cohort analysis exploiting the panel structure suggests that the program reduces liquid assets by 20 percent around the threshold. Analyzing high-frequency bank data on assets and cash withdrawals shows that the excess mass around the threshold largely reflects permanent rather than temporary responses.
Funding Sources:  View help for Funding Sources Danish National Research Foundation (DNRF134)

Scope of Project

Subject Terms:  View help for Subject Terms Social Security; government expenditures
JEL Classification:  View help for JEL Classification
      H24 Personal Income and Other Nonbusiness Taxes and Subsidies; includes inheritance and gift taxes
      H53 National Government Expenditures and Welfare Programs
Geographic Coverage:  View help for Geographic Coverage Denmark
Time Period(s):  View help for Time Period(s) 2001 – 2018
Universe:  View help for Universe People age 60+ living alone. 
Data Type(s):  View help for Data Type(s) program source code


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V1 [2026-03-25]

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