全球智库信息集成服务系统(G2TT): Tax Policy Design with Low Interest Rates

G2TT

来源类型	Working Paper
规范类型	报告
DOI	10.3386/w29352
来源ID	Working Paper 29352
	Tax Policy Design with Low Interest Rates
	Alan J. Auerbach; William Gale
发表日期	2021-10-11
出版年	2021
语种	英语
摘要	Interest rates on government debt have fallen in many countries over the last several decades, with markets indicating that rates may stay low well into the future. It is by now well understood that sustained low interest rates can change the nature of long-run fiscal policy choices. In this paper, we examine a related issue: the implications of sustained low interest rates for the structure of tax policy. We show that low interest rates (a) reduce the differences between consumption and income taxes; (b) make wealth taxes less efficient relative to capital income taxes, at given rates of tax; (c) reduce the value of firm-level investment incentives, and (d) substantially raise the valuation of benefits of carbon abatement policies relative to their costs.
主题	Macroeconomics ; Money and Interest Rates ; Public Economics ; Taxation
URL	https://www.nber.org/papers/w29352
来源智库	National Bureau of Economic Research (United States)
引用统计
资源类型	智库出版物
条目标识符	http://119.78.100.153/handle/2XGU8XDN/587026
推荐引用方式 GB/T 7714	Alan J. Auerbach,William Gale. Tax Policy Design with Low Interest Rates. 2021.