Capital Income Taxation, Depreciation Allowances, and Macroeconomic Stability

主讲人: Jianpo Xue
Jianpo XUE is currently an associate professor at the Department of Public Economics, School of Finance, Renmin University of China. He obtained his Ph.D. from the Chinese University of Hong Kong at 2008. His research interests are macroeconomics, fiscal policy, monetary economics, and economic growth. He has published several papers on the journals as Journal of International Economics, Journal of Money, Credit and Banking, Journal of Economic Dynamics and Control, Economic Theory, Journal of Mathematical Economics, Macroeconomic Dynamics, Economics Letters, Journal of Public Economic Theory, Journal of Macroeconomics, etc.
主持人: Yingming Wang
In a closed-economy neoclassical growth model, it is well established that a balanced-budget rule based on capital income tax can rule out indeterminacy. This paper shows, on the contrary, that such a balanced-budget fiscal policy can induce aggregate instability unrelated to economic fundamentals in a similar closed-economy setting enhanced with endogenous capital utilization. Moreover, we find that the capital depreciation allowance is another crucial factor in governing macroeconomic stability. Therefore, our results add a short-run motivation to recommend a fiscal policy with low capital income tax rate and high depreciation allowance.


时间: 2018-07-17(Tuesday)16:40-18:10
地点: 经济楼N座301
期数: 财税青年学者论坛第五十五讲
主办单位: 经济学院、王亚南经济研究院
承办单位: 财政系
类型: 独立讲座



联系电话:潘老师 0592-2180524


联系电话:吴老师 0592-2186170


联系电话:鲍老师 0592-2181269