人口流动视角下的最优土地配置与财政政策

Optimal Land Allocation and Fiscal Policy from the Perspective of Migration

本文构建包含异质性个体的空间一般均衡模型,在居民自主选择居住地与劳动供给时间的情况下给出了政府最优的土地配置和财政政策规则。研究发现,政府会根据目标函数中福利和产出的权重、各个地区的人均产出等变量及人口流动摩擦程度等参数制定各地区土地配置的总体规划。当人口流动摩擦较小或对于产出的关注程度较高时,对于高收入地区,政府应当将更多土地配置到住宅用地上。最优的财政政策组合可以通过对房地产企业征税和对非房地产企业的补贴来实现,且对非房地产企业的政策总是优于房地产企业。由于住宅用地相对工业用地的价差内生于土地配置,当政府使用其最优政策时,可以得到住宅用地的价格将内生高于工业用地价格。

Labor mobility plays a pivotal role in China's regional economic development and industrial restructuring,representing a crucial mechanism for optimal human capital allocation among regions and transformation of household consumption patterns.To attract greater human capital,local governments have adopted diverse fiscal policies aimed at reducing enterprise costs and increasing the real wages of local workers.However,this endeavor comes at the cost of an increased expenditure burden,leading to a decrease in the self⁃retention ratio.The allocation of land and other real estate market⁃related measures also serve as crucial instruments to influence population immigration.Then an essential question arises:how can government balance policy pros and cons and devise optimal strategies?This issue merits in⁃depth study,and is the primary focus of this paper.By building a spatial general equilibrium model incorporating heterogeneous agents,this paper provides the explicit expression of governmentsoptimal land allocation and fiscal policies when these agents decide their location and labor supply.We find that the optimal land allocation in each region depends on several key factors,including the weight of welfare and output in the objective function,the per capita output of each region,and the income elasticity of migration.As the income elasticity of migration or the focus on output increases,the government could allocate more land to residential sectors and less to industrial sectors in high⁃income areas.In terms of local fiscal policy,the optimal policy mix could be achieved by imposing taxes on the real estate sector while providing subsidies to the manufacturing sector.Additionally,the policies for non⁃real estate companies are always better than those for real estate companies.The research also demonstrates that the price difference between residential land and industrial land is endogenous from land allocation and the price of residential land will always be greater than that of industrial one when the governments use their optimal policies.This study quantifies how local government policies should adapt to changes in labor mobility,assessment incentives and technological innovation,providing robust normative evidence for the formulation of government land use plans and fiscal policies under the condition of the liberalization of the registration system.It offers a valuable theoretical reference for establishing optimal policies.While primarily emphasizing the government's fiscal policy,this paper pays little attention to the monetary policy.However,in research regarding the land market,the role of monetary policy deserves attention,and will become the potential direction of further investigation and exploration.