Publication in refereed journal
香港中文大学研究人员 ( 现职)
| 叶创基教授 (经济学系) |
全文
| 数位物件识别号 (DOI) http://dx.doi.org/10.1016/j.jmateco.2014.10.004 |
引用次数
Web of Sciencehttp://aims.cuhk.edu.hk/converis/portal/Publication/0WOS source URL
其它资讯
摘要In this paper, we examine the effects of constant-rate factor taxation on macroeconomic stability in the Woodford (1986) model. Our focus is on how the degree of factor substitution, as measured by the elasticity of factor substitution (BUS) in production, affects different balanced-budget tax rules. Analytically, we show that indeterminacy can occur under capital income taxation only when the EOS is very low, whereas indeterminacy under labor income taxation is not subject to the EOS restriction. This finding is robust when we tax all of the factor incomes with equal rates. Thus, in terms of macroeconomic stability, taxing capital income is preferred to taxing labor income. (C) 2http://aims.cuhk.edu.hk/converis/portal/Publication/014 Elsevier B.V. All rights reserved.
着者Xue JP, Yip CK
期刊名称Journal of Mathematical Economics
出版年份2http://aims.cuhk.edu.hk/converis/portal/Publication/014
月份12
日期1
卷号55
出版社ELSEVIER SCIENCE SA
页次1http://aims.cuhk.edu.hk/converis/portal/Publication/01 - 112
国际标準期刊号http://aims.cuhk.edu.hk/converis/portal/Publication/03http://aims.cuhk.edu.hk/converis/portal/Publication/04-4http://aims.cuhk.edu.hk/converis/portal/Publication/068
语言英式英语
关键词Balanced-budget rules; Elasticity of substitution; Factor taxation; Indeterminacy
Web of Science 学科类别Business & Economics; Economics; Mathematical Methods In Social Sciences; Mathematics; Mathematics, Interdisciplinary Applications; Social Sciences, Mathematical Methods
