世界经济 ›› 2016, Vol. ›› Issue (12): 143-165.

• 马克思主义研究专栏 • 上一篇    下一篇

动态最优财政规则:基于公共资本的混合性与拥挤性的分析

金戈1, 朱丹2   

  1. 1. 浙江财经大学财政税务学院 浙江杭州 310018;
    2. 上海财经大学经济学院 上海 200443
  • 收稿日期:2016-08-01 出版日期:2016-12-10 发布日期:2017-01-03
  • 作者简介:金戈,电子信箱:freebluesky2002@126.com;朱丹,电子信箱:zoetotoro@126.com。
  • 基金资助:
    浙江省自然科学基金杰出青年项目(LR14G030001)和国家自然科学基金项目(71673237)以及浙江财经大学地方财政金融协同创新中心。

Optimal Fiscal Rules in a Growing Economy with the Dual and Congestion Natures of Public Capital

Jin Ge1, Zhu Dan2   

  • Received:2016-08-01 Online:2016-12-10 Published:2017-01-03

摘要: 本文将公共资本的生产-消费混合性特征与拥挤性特征同时纳入一个一般化的经济增长模型。特别地,鉴于混合型公共资本的拥挤性问题一般由私人投资和消费行为共同导致,本文对现有的拥挤性表达式进行了修正和扩展,使其更具一般性与现实意义。基于此,在一个更为准确地刻画了公共资本基本特征的一般框架中,本文得到了一组动态最优财政规则。结果显示,当公共资本具有混合性特征时,最优公共投资应使得公共资本的边际产出小于私人资本的边际产出;而混合型公共资本的拥挤性特征一般要求消费税与劳动税率之和以及资本税率均为正。我们还通过引入特例并进行数值分析,计算了拥挤的福利损失,揭示了政府如何通过改变税率组合以应对拥挤性参数变动的内在机制。

关键词: 混合型公共资本, 最优公共投资, 最优税收

Abstract: We explore both the productive-consumptive dual nature and the congestion nature of public capital in a general growth model. Since public capital is generally subject to differential congestion externalities generated by both private investment and consumption, we particularly refine the traditional specification of congestion, thereby characterizing the congestion nature more accurately. Thus, in a dynamic economy with congested public capital we obtain the general optimal fiscal rules. As our finding shows, the dual nature of public capital requires that the marginal output of public capital should be less than the marginal output of private capital along the optimal paths while the congestion nature of public capital requires that the capital tax rate and the sum of the consumption tax rate and the labor tax rate should generally both be positive at the optimum. Finally, in an example, we numerically calculate the welfare loss due to congestion and then investigate the role of taxation in dealing with the congestion externalities.

Key words: The dual nature of public capital, Congestion, Optimal public investment, Optimal taxation

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