政大機構典藏-National Chengchi University Institutional Repository(NCCUR):Item 140.119/157355

English | 正體中文 | 简体中文 | Post-Print筆數 : 27 | Items with full text/Total items : 116112/147149 (79%)
Visitors : 59488295 Online Users : 414

RC Version 6.0 © Powered By DSPACE, MIT. Enhanced by NTU Library IR team.

Home ‧ Login ‧ Upload ‧ Help ‧ About ‧ Administer

政大機構典藏 > 社會科學學院 > 財政學系 > 期刊論文 > Item 140.119/157355

Please use this identifier to cite or link to this item: https://nccur.lib.nccu.edu.tw/handle/140.119/157355

Title:	Rising skill premium and the dynamics of optimal capital and labor taxation
Authors:	楊建成 Yang, C.C.;Tsai, Yi-Chan;Yu, Hsin-Jung
Contributors:	財政系
Keywords:	Skill premium;optimal taxation;capital-skill complementarity;equipment-specific technological progress
Date:	2022-07
Issue Date:	2025-06-13 09:28:56 (UTC+8)
Abstract:	With capital-skill complementarity, the secular decline in the price of capital equipment due to equipment-specific technological progress (ESTP) keeps pushing up the demand for skilled relative to unskilled labor and raising the skill premium. This paper quantitatively characterizes the dynamics of optimal taxation in response. Two main results emerge, regardless of whether the Ramsey (1927) or the Mirrlees (1971) approach is adopted. First, a tax on capital equipment corrects the “pecuniary externalities” caused by ESTP. The correction prescribes a downward or an upward adjustment of tax rates over time, depending on whether ESTP takes place at an accelerated or a decelerated pace. Second, both Ramsey and Mirrlees approaches prescribe an increasing marginal tax rate on labor income over time. Interestingly, we find that the prescribed pattern of optimal taxation resembles the empirical decline in capital taxes and the increase in labor taxes observed in the United States. In particular, despite the significant rise in the skill premium, the welfare gains of tax reform toward optimal Ramsey taxes are modest and small.
Relation:	Quantitative Economics, Vol.13, No.3, pp.1061-1099
Data Type:	article
DOI 連結:	https://doi.org/10.3982/QE1326
DOI:	10.3982/QE1326
Appears in Collections:	[財政學系] 期刊論文

Files in This Item:

File	Description	Size	Format
index.html		0Kb	HTML	4	View/Open

社群 sharing

著作權政策宣告 Copyright Announcement

1.本網站之數位內容為國立政治大學所收錄之機構典藏，無償提供學術研究與公眾教育等公益性使用，惟仍請適度，合理使用本網站之內容，以尊重著作權人之權益。商業上之利用，則請先取得著作權人之授權。
The digital content of this website is part of National Chengchi University Institutional Repository. It provides free access to academic research and public education for non-commercial use. Please utilize it in a proper and reasonable manner and respect the rights of copyright owners. For commercial use, please obtain authorization from the copyright owner in advance.

2.本網站之製作，已盡力防止侵害著作權人之權益，如仍發現本網站之數位內容有侵害著作權人權益情事者，請權利人通知本網站維護人員(nccur@nccu.edu.tw)，維護人員將立即採取移除該數位著作等補救措施。
NCCU Institutional Repository is made to protect the interests of copyright owners. If you believe that any material on the website infringes copyright, please contact our staff(nccur@nccu.edu.tw). We will remove the work from the repository and investigate your claim.

Loading...