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政大機構典藏 > 社會科學學院 > 財政學系 > 期刊論文 > Item 140.119/142838

Please use this identifier to cite or link to this item: https://nccur.lib.nccu.edu.tw/handle/140.119/142838

Title:	Ad valorem versus unit taxes on capital in a dynamic stochastic general equilibrium model
Authors:	朱琇妍 Chu, Shiou-Yen Wu, Tsaur-Chin
Contributors:	財政系
Keywords:	Capital tax;DSGE;Price rigidity;Government spending
Date:	2023-12
Issue Date:	2022-12-27 10:32:41 (UTC+8)
Abstract:	This paper is the first attempt to adopt a dynamic stochastic general equilibrium (DSGE) framework with nominal price rigidity and monopolistic competition to compare the macroeconomic effects of unit and ad valorem capital taxes. Our results show that the welfare dominance between an ad valorem tax and a unit tax depends on their relative marginal costs. A higher marginal cost resulting from an increase in capital tax generates less consumption and more labor hours, leading to lower welfare. This result is robust to a varying elasticity of intertemporal substitution in consumption and a varying Frisch elasticity of labor supply, a varying degree of price rigidity and productive versus nonproductive public capital. In response to positive government spending shocks, our results indicate that when the increase in government spending is totally financed via capital taxation, a unit tax is superior to an ad valorem tax.
Relation:	International Tax and Public Finance, Vol.30, pp.1435-1456
Data Type:	article
DOI 連結:	https://doi.org/10.1007/s10797-022-09764-8
DOI:	10.1007/s10797-022-09764-8
Appears in Collections:	[財政學系] 期刊論文

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