Investment, V. 3投资 第3卷：免除负担、税务改革、资本成本与美国经济增长
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作者： Dale W. Jorgenson，Kun-Young Yun著
出 版 社：
出版时间： 2002-5-1字数：版次：页数： 474印刷时间： 2002/05/01开本： 16开印次：纸张： 胶版纸I S B N ： 9780262100915包装： 精装内容简介
This book presents a comprehensive treatment of the cost-of-capital approach for analyzing the economic impact of tax policy. This approach has provided an intellectual impetus for reforms of capital income taxation in the United States and around the world. The cost of capital and the marginal effective tax rate are combined with estimates of substitution possibilities by businesses and households in analyzing tax and spending programs. This makes it possible to evaluate tax reforms and changes in government spending.
Studies of the economic impact of tax policies have taken two forms. First, the cost of capital has been incorporated into investment functions in macroeconomic models, which are used to model the short-run responses to tax policy changes. Second, the cost-of-capital approach has been integrated into applied general-equilibrium models used in evaluating the long-run economic effects of tax reforms.
The cost-of-capital approach suggests two avenues for tax reform. One would retain the income tax base of the existing U.S. tax system, but would equalize tax burdens on all forms of assets as well as average and marginal tax rates on labor income. The other would substitute consumption for income as a tax base, while equating average and marginal tax rates on labor income.
目录
List of Tables
List of Figures
Preface
1 Introduction
2 Taxation of Income from Capital
2.1Cost of Capital
2.2Capital as a Factor of Production
2.3Rates of Return
2.4Capital Income Taxation
2.5Households
2.6Noncorporate Business
2.7Corporate Business
2.8Alternative Approaches
3 U.S. Tax System
3.1Tax Rates
3.2Distribution of Assets
3.3Vintage Price Functions
3.4Capital Cost Recovery
3.5Financial Structure
3.6Alternative Approaches
Appendix
4 Effective Tax Rates
4.1Economic Impact of U.S. Tax Law
4.2Effective Tax Rates
4.3Differences in Effective Tax Rates
4.4Alternative Approaches
5 Dynamic General Equilibrium Model
5.1Commodities
5.2Producer Behavior
5.3Consumer Behavior
5.4Government and Rest of the World
5.5Market Equilibrium
6 Estimating the Parameters
6.1Consumer Behavior
6.2Producer Behavior
6.3Elasticities
6.4Other Parameters
Appendix
7 Economic Impact of Tax Reform
7.1Perfect Foresight Dynamics
7.2Comparison of Welfare Levels
7.3Computational Algorithm
7.4Welfare Effects of Tax Reform
7.5Efficiency Costs of Taxation
7.6Efficiency Costs under the 1996 Tax Law
7.7Alternative Approaches
Appendix
8 Fundamental Tax Reform
8.1Tax Reform Proposals
8.2Modeling the Tax Reform Proposals
8.3Welfare Impacts of Fundamental Tax Reform
8.4Equivalence of Consumption and Labor Income Taxes
8.5Efficiency Costs of Taxation
8.6Alternative Approaches
Appendix
9 Marginal Cost of Public Spending
9.1Determinants of the MCS
9.2Dynamic General Equilibrium Model
9.3Estimation of the MCS
9.4MCS under the 1996 Tax Law
9.5MCS under Fundamental Tax Reform
9.6Welfare Impact of the End of the Cold War
9.7Alternative Approaches
References
Index
