两国新凯恩斯模型中的累进税与最优货币政策

IF 1.3 4区经济学 Q3 BUSINESS, FINANCE

International Finance Pub Date : 2023-01-23 DOI:10.1111/infi.12428

Daisuke Ida, Kenichi Kaminoyama

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引用次数: 0

摘要

本文在一个两国新凯恩斯模型中考察了税收累进率对最优货币政策的影响。我们首先解决了结构方程和中央银行损失函数的系数都受到两国税收累进率变化的关键影响的问题。其次，我们证明了税收累进率的变化显著影响了国际货币政策传导的性质。第三，我们证明了税收累进对国际货币政策传导的影响取决于恒定相对风险厌恶系数的值。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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Progressive taxation and optimal monetary policy in a two-country new Keynesian model

This paper examines the effect of tax progressivity on optimal monetary policy in a two-country new Keynesian model. We first address the issue that coefficients in both structural equations and the central bank's loss function are crucially affected by a change in tax progressivity in both countries. Second, we show that a change in tax progressivity significantly affects the properties of international monetary policy transmission. Third, we demonstrate that the impact of tax progressivity on international monetary policy transmission depends on the value of the constant relative risk-aversion coefficients.

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来源期刊

International Finance Multiple-

CiteScore

2.50

自引率

8.30%

发文量

期刊介绍： International Finance is a highly selective ISI-accredited journal featuring literate and policy-relevant analysis in macroeconomics and finance. Specific areas of focus include: · Exchange rates · Monetary policy · Political economy · Financial markets · Corporate finance The journal''s readership extends well beyond academia into national treasuries and corporate treasuries, central banks and investment banks, and major international organizations. International Finance publishes lucid, policy-relevant writing in macroeconomics and finance backed by rigorous theory and empirical analysis. In addition to the core double-refereed articles, the journal publishes non-refereed themed book reviews by invited authors and commentary pieces by major policy figures. The editor delivers the vast majority of first-round decisions within three months.