文献类型：期刊文献

中文题名：财政反应系数、税率调整与中国政府可持续债务

英文题名：Fiscal Response Coefficient,Tax Rate Adjustment and Chinese Government’s Sustainable Debt

作者：刘方[1]

第一作者：刘方

机构：[1]河南财经政法大学经济学院

第一机构：河南财经政法大学经济学院

年份：2020

期号：6

起止页码：14-25

中文期刊名：宏观经济研究

外文期刊名：Macroeconomics

收录：国家哲学社会科学学术期刊数据库;北大核心:【北大核心2017】；CSSCI:【CSSCI2019_2020】；

基金：2016年度河南省高等学校青年骨干教师培养计划“老龄化背景下的政府债务可持续性研究”(2016GGJS-086);河南省哲学社会科学规划办项目“新常态视角下地方政府债务的经济效应研究”(2015BJJ046)的资助。

语种：中文

中文关键词：财政反应系数;税率;政府可持续债务

外文关键词：Fiscal response coefficient;Tax rate;Sustainable government debt

摘要：中国政府债务的可持续问题备受关注。本文利用财政反应函数检验了中国政府债务的可持续性,在此基础上依据中国宏观经济运行特征构建动态一般均衡模型,通过模型校准、求解及模拟讨论了调整资本税率和劳动税率对政府债务可持续性的影响。研究表明:中央政府债务是可持续的,满足跨期预算约束,其财政反应系数为较小正数,政府总债务(包括地方政府债务)不可持续;当前经济环境下,降低劳动税率利于维持政府债务可持续状态,降低资本税率利于保证经济平稳增长。
The issue of sustainability of Chinese government debt has received much attention.This paper uses the fiscal response function to test the sustainability of Chinese government debt.On this basis,a dynamic general equilibrium model is constructed based on the characteristics of China’s macroeconomic operation.The effects of adjusting the capital tax rate and labor tax rate on the sustainability of government debt are discussed through model calibration,solution,and simulation.Research shows that central government debt is sustainable and meets intertemporal budget constraints.Its fiscal response coefficient is a small positive number,and total government debt(including local government debt)is unsustainable.Under the current economic environment,reducing labor tax rates is conducive to maintaining government debt is sustainable,and reducing the capital tax rate is conducive to ensuring stable economic growth.