Postdoctoral research fellow a the Center for Law and Economics, ETH Zürich
Affiliated researcher at Institut des politiques publiques and World Inequality Lab I received my Ph.D. in June 2018 at the Paris School of Economics under the supervision of Pr. Thomas Piketty and Pr. Antoine Bozio. Research interest: Labour Economics, Public Finance, Natural Language Processing, Political Economy Contact information: IFW E 44 Haldeneggsteig 4 8092 Zürich Switzerland malka.guillot[at]gess.ethz.ch Curriculum vitae |
My latest research
Tax Incidence Among the Working Superrich. Evidence From the French 75% Tax on Millionaires
Latest working paper, slides
This paper uses the 75% tax on millionaire employees implemented in France in2013-2014 to better understand the behavioural responses and the tax incidence of top labour earners’ taxation. Relying on matched employer-employee data and the complete panel of household income tax returns, I document that the tax was shared be-tween employers, who paid 55% of the tax, and employees, but that the incidence de-pends on occupations. While footballer players are not affected by the tax, CEOs bore half of the cost of the tax, but they also demonstrate some avoidance behaviours. The tax removal triggered an asymmetrical incidence that entirely benefits employees through an increase in net wage. Last, firms did not demonstrate a major change in their production behaviour at the introduction of the tax. These findings support the intuition that employees’ bargaining power plays an important role in the impact of the tax.
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Predistribution vs. Redistribution: Evidence from France and the U.S., 2020, CEPR WP, with Bozio Antoine, Bertrand Garbinti, Goupille-Lebret Jonathan and Piketty Thomas
How much redistribution policies can account for long-run changes in inequality? To answer this question, we quantify the extent of redistribution over time by the percentage reduction from pretax to post-tax inequalities, and decompose the changes in post-tax inequalities into different redistributive policies and changes in pretax inequalities. To estimate these redistributive statistics, we construct homogenous annual series of post-tax national income for France over the 1900-2018 period, and compare them with those recently constructed for the U.S. We obtain three major findings. First, redistribution has increased in both countries over the period, earlier in the U.S., later in France, to reach similar levels today. Second, the substantial long-run decline in posttax inequality in France over the 1900-2018 period is due mostly to the fall in pretax inequality (accounting for three quarters of the total decline), and to a lesser extent to the direct redistributive role of taxes, transfers and other public spending (about one quarter). Third, the reason why overall inequality is much smaller in France than in the U.S. is entirely due to differences in pretax inequality. These findings suggest that policy discussions on inequality should, in the future, pay more attention to policies affecting pretax inequality and should not focus exclusively on “redistribution”.
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Old 2018 WP |
The Contribution of Payroll Taxation to Wage Inequality in France
With Antoine Bozio and Thomas Breda

Latest working paper, Web application
Over the 1967–2015 period, net wage inequality has decreased in France by 25%, in contrast to the significant increase experienced by most developed countries. Less well known is the fact that labor cost inequality has actually increased by 8% over the same period. We show that, (a) standard demand-side explanations for the rise in inequality apply in France when tested using measures of labor cost (as they should be); (b) reforms to payroll taxation, jointly with increases in the minimum wage, can explain a large part of the decrease in net wage inequality, in the context of increasing market inequality.
Over the 1967–2015 period, net wage inequality has decreased in France by 25%, in contrast to the significant increase experienced by most developed countries. Less well known is the fact that labor cost inequality has actually increased by 8% over the same period. We show that, (a) standard demand-side explanations for the rise in inequality apply in France when tested using measures of labor cost (as they should be); (b) reforms to payroll taxation, jointly with increases in the minimum wage, can explain a large part of the decrease in net wage inequality, in the context of increasing market inequality.