This study uses the new classical Ramsey growth model to analyze the impacts of lowered estate tax rates in Taiwan. Simulation results indicate a decrease in capital stock and economic growth when post-adjusted estate...This study uses the new classical Ramsey growth model to analyze the impacts of lowered estate tax rates in Taiwan. Simulation results indicate a decrease in capital stock and economic growth when post-adjusted estate tax rate falls below 28.22%, which resembles the optimal estate tax rate to keep capital stock unchanged. The results also show that estate tax rate cuts have caused changes in relative prices, resulting in excess burden (EB). The implication of our simulation results is that Taiwan's current estate tax rate cut to 10% will not be able to increase capital stock and promote economic growth.展开更多
Coordinated regional development has long been a focus of the Chinese Government.For instance,over the past few decades,the government has rolled out the western region development plan as well as its strategy of revi...Coordinated regional development has long been a focus of the Chinese Government.For instance,over the past few decades,the government has rolled out the western region development plan as well as its strategy of revitalizing northeast China.It has also developed economic zones in regions such as the west coast of the Taiwan Straits and the Yangtze River Delta.At present,another such regional development zone,展开更多
文摘This study uses the new classical Ramsey growth model to analyze the impacts of lowered estate tax rates in Taiwan. Simulation results indicate a decrease in capital stock and economic growth when post-adjusted estate tax rate falls below 28.22%, which resembles the optimal estate tax rate to keep capital stock unchanged. The results also show that estate tax rate cuts have caused changes in relative prices, resulting in excess burden (EB). The implication of our simulation results is that Taiwan's current estate tax rate cut to 10% will not be able to increase capital stock and promote economic growth.
文摘Coordinated regional development has long been a focus of the Chinese Government.For instance,over the past few decades,the government has rolled out the western region development plan as well as its strategy of revitalizing northeast China.It has also developed economic zones in regions such as the west coast of the Taiwan Straits and the Yangtze River Delta.At present,another such regional development zone,