Fisher修正效应中的利息所得税与名义利率

Interest Income Taxation and Nominal Interest Rate in the Revised Fisher Effect

本文回顾了Fisher修正方程中预期通货膨胀、实际利率和名义利率的相互关系。在维持实际利率不变的通货膨胀中,征收利息所得税会造成名义利率升高。同时,预期通货膨胀的波动也会借助于利息所得税加剧名义利率的波动。一些利息所得税调整与利息费用扣除的方法可以减轻利息所得税的这些影响,但是这些调整会影响其他经济变量。

The text has reviewed the inter- reaction between the anticipated inflation, the real interest rate and the nominal interest rate. During the inflation, the collecting of the interest income tax causes the nominal interest rate to rise. Meanwhile, the fluctuation of the anticipated inflation will aggravate the fluctuation of the nominal interest rate with the aid of the income tax on interest income. Some adjustment of income taxes on interest income and some deduction with interest expense can lighten the interest income tax,but these methods will influence other economic variables. Form now on, with the inflation rate raising, the negative interest rate time will come. So every party should think highly of it.