公共政策的经济分析Chap12.ppt
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公共政策的经济分析Chap12.ppt
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Chapter12TaxationandIncomeDistribution1IntroductionManypoliciescenteraroundwhetherthetaxburdenisdistributedfairly.Notassimpleasanalyzinghowmuchintaxeseachpersonactuallypaid,becauseoftax-inducedchangestoprice.2IntroductionTwomainconceptsofhowataxisdistributed:
StatutoryincidencewhoislegallyresponsiblefortaxEconomicincidencethetruechangeinthedistributionofincomeinducedbytax.Thesetwoconceptsdifferbecauseoftaxshifting.3TaxIncidence:
GeneralRemarksOnlypeoplecanbeartaxesBusinesspayingtheirfairsharesimplyshiftsthetaxburdentodifferentpeopleCanstudypeoplewhosetotalincomeconsistsofdifferentproportionsoflaborearnings,capitalincome,andsoon.Sometimesappropriatetostudyincidenceofataxacrossregions.4TaxIncidence:
GeneralRemarksBothSourcesandUsesofIncomeshouldbeconsideredTaxaffectsconsumers,workersinindustry,andownersEconomistsoftenignorethesourcesside5TaxIncidence:
GeneralRemarksIncidencedependsonhowpricesaredeterminedIndustrystructuremattersShort-versuslong-runresponses6TaxIncidence:
GeneralRemarksIncidencedependsondispositionoftaxrevenueBalancedbudgetincidencecomputesthecombinedeffectsoflevyingtaxesandgovernmentspendingfinancedbythosetaxes.Differentialtaxincidencecomparestheincidenceofonetaxtoanother,ignoringhowthemoneyisspent.Oftenthecomparisontaxisalumpsumtaxataxthatdoesnotdependonapersonsbehavior.7TaxIncidence:
GeneralRemarksTaxprogressivenesscanbemeasuredinanumberofwaysAtaxisoftenclassifiedas:
ProgressiveRegressiveProportionalProportionaltaxesarestraightforward:
ratiooftaxestoincomeisconstantregardlessofincomelevel.8TaxIncidence:
GeneralRemarksCandefineprogressive(andregressive)taxesinanumberofways.CancomputeintermsofAveragetaxrate(ratiooftotaltaxestotalincome)orMarginaltaxrate(taxrateonlastdollarofincome)9TaxIncidence:
GeneralRemarksMeasuringhowprogressiveataxsystemispresentadditionaldifficulties.Considertwosimpledefinitions.Thefirstonesaysthatthegreatertheincreaseinaveragetaxratesasincomerises,themoreprogressiveisthesystem.10TaxIncidence:
GeneralRemarksThesecondonesaysataxsystemismoreprogressiveifitselasticityoftaxrevenueswithrespecttoincomeishigher.Recallthatanelasticityisdefinedintermsofpercentchangeinonevariablewithrespecttopercentchangeinanotherone:
11TaxIncidence:
GeneralRemarksThesetwomeasures,bothofwhichmakeintuitivesense,mayleadtodifferentanswers.Example:
increasingalltaxpayersliabilityby20%12PartialEquilibriumModelsPartialequilibriummodelsonlyexaminethemarketinwhichthetaxisimposed,andignoresothermarkets.Mostappropriatewhenthetaxedcommodityissmallrelativetotheeconomyasawhole.13PartialEquilibriumModels:
Per-unittaxesUnittaxesareleviedasafixedamountperunitofcommoditysoldFederaltaxoncigarettes,forexample,is39centsperpack.Assumeperfectcompetition.Thentheinitialequilibriumisdeterminedas(Q0,P0)inFigure12.1.14Figure12.115PartialEquilibriumModels:
Per-unittaxesNext,imposeaper-unittaxof$uinthismarket.Keyinsight:
Inthepresenceofatax,thepricepaidbyconsumersandpricereceivedbyproducersdiffer.Before,thesupply-and-demandsystemwasusedtodetermineasingleprice;nowthereisaseparatepriceforeach.16PartialEquilibriumModels:
Per-unittaxesHowdoesthetaxaffectthedemandschedule?
ConsiderpointainFigure12.1.PaisthemaximumpriceconsumerswouldpayforQa.Thewillingness-to-paybydemandersdoesNOTchangewhenataxisimposedonthem.Instead,thedemandcurveasperceivedbyproducerschanges.Producersperceivetheycouldreceiveonly(Pau)iftheysuppliedQa.Thatis,suppliersperceivethatthedemandcurveshiftsdowntopointbinFigure12.1.17PartialEquilibriumModels:
Per-unittaxesPerformingthisthoughtexperimentforallquantitiesleadstoanew,perceiveddemandcurveshowninFigure12.2.Thisnewdemandcurve,Dc,isrelevantforsuppliersbecauseitshowshowmuchtheyreceiveforeachunitsold.18Figure12.219PartialEquilibriumModels:
Per-unittaxesEquilibriumnowconsistsofanewquantityandtwoprices(onepaidbydemanders,andtheotherreceivedbysuppliers).Thesuppliersprice(Pn)isdeterminedbythenewdemandcurveandtheoldsupplycurve.ThedemanderspricePg=Pn+u.QuantityQ1isobtainedbyeitherD(Pg)orS(Pn).20PartialEquilibriumModels:
Per-unittaxesTaxrevenueisequaltouQ1,orareakfhninFigure12.2.TheeconomicincidenceofthetaxissplitbetweenthedemandersandsuppliersPricedemandersfacegoesupfromP0toPg,which(inthiscase)islessthanthestatutorytax,u.21NumericalExampleSupposethemarketforchampagneischaracterizedbythefollowingsupplyanddemandcurves:
22NumericalExampleIfthegovernmentimposesaper-unittaxondemandersof$8perunit,thetaxcreatesawedgebetweenwhatdemanderspayandsuppliersget.Beforethetax,wecanrewritethesystemas:
23NumericalExampleAfterthetax,suppliersreceive$8lessperpackthandemanderspay.Therefore:
24NumericalExampleSolvingtheinitialsystem(beforethetax)givesapriceofP=20andQ=60.Solvingthesystemafterthetaxgives:
25NumericalExampleInthiscase,thestatutoryincidencefalls100%onthedemanders,buttheeconomicincidenceis50%ondemandersand50%onsuppliers:
26PartialEquilibriumModels:
Taxesonsuppliersvs.demandersIncidenceofaunittaxisindependentofwhetheritisleviedonconsumersorproducers.Ifthetaxwereleviedonproducers,thesuppliercurveasperceivedbyconsumerswouldshiftupward.Thismeansthatconsumersperceiveitismoreexpensiveforthefirmstoprovideanygivenquantity.ThisisillustratedinFigure12.3.27Figure12.328PartialEquilibriumModels:
Taxesonsuppliersvs.demandersInourpreviousnumericalexample,thetaxondemandersledtothefollowingrelationship:
Ifweinsteadtaxedsuppliers,thisrelationshipwouldinsteadbe:
29PartialEquilibriumModels:
Taxesonsuppliersvs.demandersClearly,theseequationsidenticaltoeachother.Thesamequantityandpriceswillemergeasbefore.Implication:
Thestatutoryincidenceofataxtellsusnothingabouttheeconomicincidenceofit.Thetaxwedgeisdefinedasthedifferencebetweenthepricepaidbyconsumersandpricereceivedbyproducers.30PartialEquilibriumModels:
ElasticitiesIncidenceofaunittaxdependsontheelasticitiesofsupplyanddemand.Ingeneral,themoreelasticthedemandcurve,thelessofthetaxisbornebyconsumers,ceterisparibus.Elasticitiesprovideameasureofaneconomicagentsabilityto“escape”thetax.Themoreelasticthedemand,theeasieritisforconsumerstoturntootherproductswhenthepricegoesup.Thus,suppliersmustbearmoreoftax.31PartialEquilibriumModels:
ElasticitiesFigures12.4and12.5illustratetwoextremecases.Figure12.4showsaperfectlyinelasticsupplycurveFigure12.5showsaperfectlyelasticsupplycurveInthefirstcase,thepriceconsumerspaydoesnotchange.Inthesecondcase,thepriceconsumerspayincreasesbythefullamountofthetax.32Figure12.433Figure12.534PartialEquilibriumModels:
Ad-valoremTaxAnad-valoremtaxisataxwitharategiveninproportiontotheprice.Agoodexampleisthesalestax.Graphicalanalysisisfairlysimilartothecasewehadbefore.Insteadofmovingthedemandcurvedownbythesameabsoluteamountforeachquantity,moveitdownbythesameproportion.35PartialEquilibriumModels:
Ad-valoremTaxFigure12.7showsanad-valoremtaxleviedondemanders.Aswiththeper-unittax,thedemandcurveasperceivedbysuppliershaschanged,andthesameanalysisisusedtofindequilibriumquantityandprices.36Figure12.737NumericalExampleReturningtoourpreviousexample,withaper-unittaxondemandersthesystemwaswrittenas:
38NumericalExampleNow,withanad-valoremtax(D),thesystemiswrittenas:
39NumericalExampleIfthead-valoremtaxondemanderswas10%,thenrelationshipbetweenpricesis:
40PartialEquilibriumModels:
Ad-valoremTaxThepayrolltax,whichpaysforSocialSecurityandMedicare,isanad-valoremtaxonafactorofproductionlabor.Statutoryincidenceissplitevenlywithatotalof15.3%.Thestatutorydistinctionisirrelevanttheincidenceisdeterminedbytheunderlyingelasticitiesofsupplyanddemand.Figure12.8showsthelikelyoutcomeonwages.41Figure12.842PartialEquilibriumModels:
CompetitionWecanalsoloosentheassumptionofperfectcompetition.Figure12.9showsamonopolistbeforeaper-unittaxisimposed.43Figure12.944PartialEquilibriumModels:
CompetitionAfteraper-unittaxisimposedinFigure12.10,the“effective”demandcurveshiftsdown,asdoesthe“effective”marginalrevenuecurve.Monopolistsprofitsfallafterthetax,eventhoughithasmarketpower.45Figure12.1046PartialEquilibriumModels:
ProfitstaxesFirmscanbetaxedoneconomicprofits,definedasthereturntotheownersofthefirminexcessoftheopportunitycostsofthefactorsusedinproduction.Forprofit-maximizingfirms,proportionalprofittaxescannotbeshifted.Intuition:
thesameprice-quantitycombinationthatinitiallymaximizedprofitsinitiallystilldoes.Outputdoesnotchange.47PartialEquilibriumModels:
CapitalizationSpecialissuesarisewhenlandistaxed.Fixedsupply,immobile,durableAssumeannualrentalrateis$Rtattimet.Ifmarketforlandiscompetitive,itsvalueissimplyequaltothepresentdiscountedvalueofrentalpayments:
48PartialEquilibriumModels:
CapitalizationAssumeataxof$utisthenimposedineachperiodt.Thereturnsonowninglandthereforefall,andpurchaserstakethisintoaccount.Thus,thepricefallsto:
49PartialEquilibriumModels:
CapitalizationThedifferenceinthesepricesissimplythepresentdiscountedvalueoftaxpayments:
Atthetimethetaxisimposed(notcoll
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- 公共政策 经济 分析 Chap12