金戈,朱丹

• 1:浙江财经大学财政税务学院
• 2:上海财经大学经济学院

摘要(Abstract)：

本文在一个包含公共资本积累和弹性劳动供给的内生经济增长模型中,考察了次优配置中的最优公共资本积累规则、最优公共投资规模、最优公私资本比例以及相应的最优资本和劳动所得税的结构,并将次优配置与社会最优(第一优)配置进行了比较。我们发现,在次优配置中,最优公共资本积累要求公共资本的边际产出等于私人资本的税后收益率,即公共资本和私人资本的边际产出之间存在着一个税收楔子。我们还给出了一组决定最优税率的公式,并验证了平衡预算规则。

关键词(KeyWords)： 公共资本;所得税结构;内生经济增长;次优

Abstract:

Keywords:

基金项目(Foundation): 国家自然科学基金面上项目(编号71673237)资助

作者(Author): 金戈,朱丹

DOI: 10.16513/j.cnki.cje.2018.03.003

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• (1)这里需要指出,在研究最优财政政策或最优税收的文献里,一般区分两种程度的最优,分别是:第一级最优(the first-best optimal),简称第一优;第二级最优(the second-best optimal),简称次优。
• (2)在Barro(1990)的模型中,公共投资以流量形式影响当期经济,最优公共投资占产出的比例等于公共服务的产出弹性。在Glomm and Ravikumar(1994)、Lau(1995)和Devarajan et al.(1998)的模型中,本期公共投资转化为下一期公共资本,因此,最优公共投资占产出的比例等于公共资本的产出弹性乘以一个折现因子。
• (1)为了将研究重心集中于最优公共资本积累问题,我们在效用函数中忽略了消费性公共服务。这是一种简化,但不会对本文的结论产生实质性影响。我们可以很容易将消费性公共支出引入效用函数并推导出最优消费性公共支出的规则和相应比例,但这不会影响本文关于最优公共资本积累的一系列结论。
• (1)如果引入一个正的折旧率δ(0<δ<1),不会对本文的结论产生实质影响。
• (1)关于社会最优转移路径,可以参见Gomez(2004)提供的分析方法。简言之,在确定了最优平衡增长路上的公共资本—私人资本比例后,政府在转移路径上可以通过调整公共投资比例和税收政策使得初始公共资本—私人资本比例逐渐向最优平衡路径上的公私资本比例转移。给定最优平衡增长路径存在,转移路径不影响最优平衡增长路径的性质。
• (1)这一方法在最优税收的研究文献中通常被命名为对偶方法(the dual approach),详见Atkinson and Stiglitz(1980)。
• (1)定性推导不能直接得到资本税的符号。但后面的数值分析,可以验证,在合理参数取值下,资本税率确实为正。