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題名 租稅、貨幣融通與地下經濟：交易付現下的兩部門模型
Tax, Money Financing and Underground Economy: A Two-Sector Model with the Cash-in-Advance Constraint作者 彭世行
Peng, Shi-Xing貢獻者 洪福聲
Hung, Fu-Sheng
彭世行
Peng, Shi-Xing關鍵詞 地下經濟
兩部門模型
交易付現限制式
鑄幣稅融通
稅制轉換
Underground Economy
Two-Sector Model
Cash-in-Advance Constraint
Seigniorage
Tax Switch日期 2024 上傳時間 4-Sep-2024 14:36:39 (UTC+8) 摘要 本文擬建立一兩部門新古典成長模型，將貨幣以交易付現(Cash-in-Advance, CIA)的方式引入，以描繪存在地下經濟的社會，並探討在政府不同的融通政策及稅收用途下對經濟體系生產要素配置比例及地下經濟規模之影響。模型中，我們限制代表性個人於地下部門之消費及勞動所得必須完全以現金來支付，而正規部門廠商則需繳納政府課徵的稅款。政府可以通過徵收租稅及發行貨幣(即鑄幣稅)來獲取收入，並選擇將其用於公共支出，或以定額移轉(lump-sum transfers)之形式全數返還給民眾。數值模擬結果顯示，在長期均衡下，提高貨幣供給成長率與降低消費正規部門商品現金支付的比例，均能有效抑制地下部門的發展，縮減地下經濟規模，且提高貨幣供給成長率有助於促進社會總資本的累積，即Mundell-Tobin效果成立。此外，當政府將收入作為投入公共支出使用時，相較於採取移轉性支出政策，地下經濟規模較小。在此情況下，若政府執行稅制轉換，由消費稅改為鑄幣稅融通，對於縮減地下經濟規模的效果較大；由資本所得稅改以鑄幣稅融通，提升社會總福利水準的效果則最為顯著。
This paper introduces a two-sector neoclassical growth model with a Cash-in-Advance (CIA) constraint to represent an economy with an underground sector. The study explores how different government financing policies and the usage of tax revenues impact the allocation of production factors and the size of the underground economy. In the model, the representative agent must use cash for all consumption and income in the underground sector, while firms in the formal sector are subject to government-imposed taxes. The government generates revenue through taxation and money issuance (seigniorage) and can allocate these funds either to government spending or as lump-sum transfers to the public. Numerical simulations show that in the long-run equilibrium, increasing the money supply growth rate and reducing the cash payment requirement for formal sector goods effectively suppress the underground sector and reduce the size of the underground economy. Additionally, a higher money supply growth rate promotes capital accumulation, consistent with the Mundell-Tobin effect. Furthermore, when government revenue is allocated to government spending, the underground economy is smaller compared to when transfer policies are implemented. In this context, a tax switch from consumption taxes to seigniorage is more effective in reducing the size of the underground economy, while a shift from capital income taxes to seigniorage most significantly enhances overall level of social welfare.參考文獻 中文文獻: 吳惠林 (1990)，「台灣的地下經濟」，經濟前瞻，(17)，65-68。 陳明郎 (2012)，「經濟成長」，華泰文化事業有限公司。 張欽智 (2019)，「課稅與地下經濟：兩部門的分析」，國立政治大學經濟研究所碩士論文。 英文文獻: Allingham, M. and A. Sandmo (1972), “Income Tax Evasion: A Theoretical Analysis,” Journal of Public Economics, 1, 323-338. Arrow, K J. (1970), “Essays in the Theory of Risk-Bearing,” ch.3. Amsterdam:North-Holland. Bond, E. W., Wang, P. Yip, C. K. (1996), “A General Two-Sector Model of Endogenous Growth with Human and Physical Capital: Balanced Growth and Transitional Dynamics,” Journal of Economic Theory, 68, 146-173. Braun, J. and Loayza, N. (1994), “Taxation, Public Services, and the Informal Sector in a Model of Endogenous Growth,” World Bank Publications. Busato, F. and Chiarini, B. (2004), “Market and Underground Activities in a Two-Sector Dynamic Equilibrium Model,” Economic Theory, 23, 831-861. Cavalcanti, T. V. and Villamil, A. P. (2003), “Optimal Inflation Tax and Structural Reform,” Macroeconomic Dynamics 7, 333–362. Cesaroni, C. (2014), “Inflation and Taxes in a New Keynesian Model with Underground Economy,” In Conference in, Department of Economics and Management, Trento University,(23-25 October, 2014). Cesaroni, C. (2017), “Optimal Long-Run Inflation and the Informal Economy,” Bank of Lithuania. Chuang, S. F. (2004), “Steady-State Real Effects of Inflation in a Heckscher–Ohlin Cash-in-Advance Model,” Macroeconomic Dynamics, 8(5), 633-647. Chen, B. L. (2003), “Tax Evasion in a Model of Endogenous Growth,” Review of Economic Dynamics, 6(2), 381-403. Chang, W. Y., Tsai, H. F., Chang, J. J. and Lee, K. H. (2015), “Consumption Tax, Seigniorage Tax and Tax Switch in a Cash-in-Advance Economy of Endogenous Growth,” Journal of Economics, 114, 23-42. Chen, P. H., Lai, C. C. and Chu, H. (2016), “Welfare Effects of Tourism-Driven Dutch Disease: The Roles of International Borrowings and Factor Intensity,” International Review of Economics and Finance, 44, 381-394. Dellas, H., Malliaropulos, D., Papageorgiou, D. and Vourvachaki, E. (2024), “Fiscal Policy with an Informal Sector,” Journal of Economic Dynamics and Control, 160, 104820. Devereux, M. B. and Love, D. R. (1994), “The Effects of Factor Taxation in a Two-Sector Model of Endogenous Growth,” Canadian Journal of Economics, 509-536. Elgin, C. and Oztunali, O. (2012), “Shadow Economies Around the World: Model Based Estimates,” Bogazici University Department of Economics Working Papers, 5(2012), 1-48. Fernández, A. and Meza, F. (2015), “Informal Employment and Business Cycles in Emerging Economies: The Case of Mexico,” Review of Economic Dynamics, 18(2), 381-405. Feige, E. L. (1989), “The Meaning and Measurement of the Underground Economy,” 13-56. Frederiksen, A., Graversen, E. K. and Smith, N. (2005), “Tax Evasion and Work in the Underground Sector,” Labour Economics, 12(5), 613-628. Gutmann, P. M. (1977), “The Subterranean Economy,” Financial Analysts Journal, 34, 24-27. Heckscher, Eli. (1919), “The Effect of Foreign Trade on the Distribution of Income,” Ekonomisk Tidskrift 21: 497 512. Ho, W. M., Zeng, J., and Zhang, J. (2007), “Inflation Taxation and Welfare with Externalities and Leisure,” Journal of Money, Credit and Banking, 39(1), 105-131. Hung, F. S. (2005), “Optimal Composition of Government Public Capital Financing,” Journal of Macroeconomics, 27(4), 704-723. Hung, F. S. (2015), “Tax Evasion, Financial Dualism, and Economic Growth,” Academia Economic Papers, 43:2, 175-213. Huo, T. M. (1997), “Inflation and Capital Accumulation in a Two-Sector Cash-in-Advance Economy,” Journal of Macroeconomics, 19(1), 103-115. Ihrig, J. and Moe, K. (2004), “Lurking in the Shadows: The Informal Sector and Government Policy,” Journal of Development Economics, 73, 541-577. Johnson, S., Kaufmann, D. and Shleifer, A. (1997), “The Unofficial Economy in Transition,” Brookings Papers on Economic Activity 2, 159-221. Koreshkova, T. A. (2006), “A Quantitative Analysis of Inflation as a Tax on the Underground Economy,” Journal of Monetary Economics, 53(4), 773-796. Kolm, A. S. and Larsen, B. (2006), “Wages, Unemployment, and the Underground Economy.” Lewis, A.W. (1954), “Economic Development with Unlimited Supplies of Labour,” The Manchester School of Economic and Social Studies, May 1954. Loayza, N. V. (1996), “The Economics of the Informal Sector: A Simple Model and Some Empirical Evidence from Latin America,” World Bank Policy Research Working Paper, Series 1727. Lucas, Robert E., Jr. (1988), “On the Mechanics of Economic Development,” Journal of Monetary Economics, 22, 3-42. Lu, C. H., Chen, B. L. and Hsu, M. (2011), “The Dynamic Welfare Cost of Seignorage Tax and Consumption Tax in a Neoclassical Growth Model with a Cash-in-Advance Constraint,” Journal of Macroeconomics, 33(2), 247-258. Schmitt-Grohé, S., and Uribe, M. (2007), “Optimal Simple and Implementable Monetary and Fiscal Rules,” Journal of Monetary Economics, 54(6), 1702-1725. Schneider, F. and Enste, D. H. (2000), “Shadow Economies: Size, Causes, and Consequences,” Journal of Economic Literature, 38(1), 77-114. Smith, P. (1994), “Assessing the Size of the Underground Economy: The Statistics Canada Perspectives,” Canadian Economic Observer, 7, 3.16-3.33. Tanzi, V. (1980), “Underground Economy Build on Illicit Pursuit is Growing Concern of Economic Policy Markers,” International Monetary Fund, Feb, 4, 34-37. Uzawa, H. (1964), “Optimal Growth in a Two-Sector Model of Capital Accumulation,” The Review of Economic Studies, 31(1), 1-24. 描述 碩士
國立政治大學
經濟學系
107258011資料來源 http://thesis.lib.nccu.edu.tw/record/#G0107258011 資料類型 thesis dc.contributor.advisor 洪福聲 zh_TW dc.contributor.advisor Hung, Fu-Sheng en_US dc.contributor.author (Authors) 彭世行 zh_TW dc.contributor.author (Authors) Peng, Shi-Xing en_US dc.creator (作者) 彭世行 zh_TW dc.creator (作者) Peng, Shi-Xing en_US dc.date (日期) 2024 en_US dc.date.accessioned 4-Sep-2024 14:36:39 (UTC+8) - dc.date.available 4-Sep-2024 14:36:39 (UTC+8) - dc.date.issued (上傳時間) 4-Sep-2024 14:36:39 (UTC+8) - dc.identifier (Other Identifiers) G0107258011 en_US dc.identifier.uri (URI) https://nccur.lib.nccu.edu.tw/handle/140.119/153282 - dc.description (描述) 碩士 zh_TW dc.description (描述) 國立政治大學 zh_TW dc.description (描述) 經濟學系 zh_TW dc.description (描述) 107258011 zh_TW dc.description.abstract (摘要) 本文擬建立一兩部門新古典成長模型，將貨幣以交易付現(Cash-in-Advance, CIA)的方式引入，以描繪存在地下經濟的社會，並探討在政府不同的融通政策及稅收用途下對經濟體系生產要素配置比例及地下經濟規模之影響。模型中，我們限制代表性個人於地下部門之消費及勞動所得必須完全以現金來支付，而正規部門廠商則需繳納政府課徵的稅款。政府可以通過徵收租稅及發行貨幣(即鑄幣稅)來獲取收入，並選擇將其用於公共支出，或以定額移轉(lump-sum transfers)之形式全數返還給民眾。數值模擬結果顯示，在長期均衡下，提高貨幣供給成長率與降低消費正規部門商品現金支付的比例，均能有效抑制地下部門的發展，縮減地下經濟規模，且提高貨幣供給成長率有助於促進社會總資本的累積，即Mundell-Tobin效果成立。此外，當政府將收入作為投入公共支出使用時，相較於採取移轉性支出政策，地下經濟規模較小。在此情況下，若政府執行稅制轉換，由消費稅改為鑄幣稅融通，對於縮減地下經濟規模的效果較大；由資本所得稅改以鑄幣稅融通，提升社會總福利水準的效果則最為顯著。 zh_TW dc.description.abstract (摘要) This paper introduces a two-sector neoclassical growth model with a Cash-in-Advance (CIA) constraint to represent an economy with an underground sector. The study explores how different government financing policies and the usage of tax revenues impact the allocation of production factors and the size of the underground economy. In the model, the representative agent must use cash for all consumption and income in the underground sector, while firms in the formal sector are subject to government-imposed taxes. The government generates revenue through taxation and money issuance (seigniorage) and can allocate these funds either to government spending or as lump-sum transfers to the public. Numerical simulations show that in the long-run equilibrium, increasing the money supply growth rate and reducing the cash payment requirement for formal sector goods effectively suppress the underground sector and reduce the size of the underground economy. Additionally, a higher money supply growth rate promotes capital accumulation, consistent with the Mundell-Tobin effect. Furthermore, when government revenue is allocated to government spending, the underground economy is smaller compared to when transfer policies are implemented. In this context, a tax switch from consumption taxes to seigniorage is more effective in reducing the size of the underground economy, while a shift from capital income taxes to seigniorage most significantly enhances overall level of social welfare. en_US dc.description.tableofcontents 第一章 緒論 1 第一節 研究動機與目的 1 第二節 研究方法與架構 3 第二章 文獻回顧 5 第一節 地下經濟與逃漏稅 5 第二節 貨幣成長模型 8 第三節 兩部門模型 10 第三章 理論模型 12 第一節 模型設定 13 第二節 最適決策 17 第三節 長期均衡 22 第四章 數值模擬分析 32 第一節 參數對地下經濟規模之比較靜態分析 33 第二節 稅制轉換 40 第五章 結論 46 參考文獻 48 附錄A 51 zh_TW dc.format.extent 1057060 bytes - dc.format.mimetype application/pdf - dc.source.uri (資料來源) http://thesis.lib.nccu.edu.tw/record/#G0107258011 en_US dc.subject (關鍵詞) 地下經濟 zh_TW dc.subject (關鍵詞) 兩部門模型 zh_TW dc.subject (關鍵詞) 交易付現限制式 zh_TW dc.subject (關鍵詞) 鑄幣稅融通 zh_TW dc.subject (關鍵詞) 稅制轉換 zh_TW dc.subject (關鍵詞) Underground Economy en_US dc.subject (關鍵詞) Two-Sector Model en_US dc.subject (關鍵詞) Cash-in-Advance Constraint en_US dc.subject (關鍵詞) Seigniorage en_US dc.subject (關鍵詞) Tax Switch en_US dc.title (題名) 租稅、貨幣融通與地下經濟：交易付現下的兩部門模型 zh_TW dc.title (題名) Tax, Money Financing and Underground Economy: A Two-Sector Model with the Cash-in-Advance Constraint en_US dc.type (資料類型) thesis en_US dc.relation.reference (參考文獻) 中文文獻: 吳惠林 (1990)，「台灣的地下經濟」，經濟前瞻，(17)，65-68。 陳明郎 (2012)，「經濟成長」，華泰文化事業有限公司。 張欽智 (2019)，「課稅與地下經濟：兩部門的分析」，國立政治大學經濟研究所碩士論文。 英文文獻: Allingham, M. and A. Sandmo (1972), “Income Tax Evasion: A Theoretical Analysis,” Journal of Public Economics, 1, 323-338. Arrow, K J. (1970), “Essays in the Theory of Risk-Bearing,” ch.3. Amsterdam:North-Holland. Bond, E. W., Wang, P. Yip, C. K. (1996), “A General Two-Sector Model of Endogenous Growth with Human and Physical Capital: Balanced Growth and Transitional Dynamics,” Journal of Economic Theory, 68, 146-173. Braun, J. and Loayza, N. (1994), “Taxation, Public Services, and the Informal Sector in a Model of Endogenous Growth,” World Bank Publications. Busato, F. and Chiarini, B. (2004), “Market and Underground Activities in a Two-Sector Dynamic Equilibrium Model,” Economic Theory, 23, 831-861. Cavalcanti, T. V. and Villamil, A. P. (2003), “Optimal Inflation Tax and Structural Reform,” Macroeconomic Dynamics 7, 333–362. Cesaroni, C. (2014), “Inflation and Taxes in a New Keynesian Model with Underground Economy,” In Conference in, Department of Economics and Management, Trento University,(23-25 October, 2014). Cesaroni, C. (2017), “Optimal Long-Run Inflation and the Informal Economy,” Bank of Lithuania. Chuang, S. F. (2004), “Steady-State Real Effects of Inflation in a Heckscher–Ohlin Cash-in-Advance Model,” Macroeconomic Dynamics, 8(5), 633-647. Chen, B. L. (2003), “Tax Evasion in a Model of Endogenous Growth,” Review of Economic Dynamics, 6(2), 381-403. Chang, W. Y., Tsai, H. F., Chang, J. J. and Lee, K. H. (2015), “Consumption Tax, Seigniorage Tax and Tax Switch in a Cash-in-Advance Economy of Endogenous Growth,” Journal of Economics, 114, 23-42. Chen, P. H., Lai, C. C. and Chu, H. (2016), “Welfare Effects of Tourism-Driven Dutch Disease: The Roles of International Borrowings and Factor Intensity,” International Review of Economics and Finance, 44, 381-394. Dellas, H., Malliaropulos, D., Papageorgiou, D. and Vourvachaki, E. (2024), “Fiscal Policy with an Informal Sector,” Journal of Economic Dynamics and Control, 160, 104820. Devereux, M. B. and Love, D. R. (1994), “The Effects of Factor Taxation in a Two-Sector Model of Endogenous Growth,” Canadian Journal of Economics, 509-536. Elgin, C. and Oztunali, O. (2012), “Shadow Economies Around the World: Model Based Estimates,” Bogazici University Department of Economics Working Papers, 5(2012), 1-48. Fernández, A. and Meza, F. (2015), “Informal Employment and Business Cycles in Emerging Economies: The Case of Mexico,” Review of Economic Dynamics, 18(2), 381-405. Feige, E. L. (1989), “The Meaning and Measurement of the Underground Economy,” 13-56. Frederiksen, A., Graversen, E. K. and Smith, N. (2005), “Tax Evasion and Work in the Underground Sector,” Labour Economics, 12(5), 613-628. Gutmann, P. M. (1977), “The Subterranean Economy,” Financial Analysts Journal, 34, 24-27. Heckscher, Eli. (1919), “The Effect of Foreign Trade on the Distribution of Income,” Ekonomisk Tidskrift 21: 497 512. Ho, W. M., Zeng, J., and Zhang, J. (2007), “Inflation Taxation and Welfare with Externalities and Leisure,” Journal of Money, Credit and Banking, 39(1), 105-131. Hung, F. S. (2005), “Optimal Composition of Government Public Capital Financing,” Journal of Macroeconomics, 27(4), 704-723. Hung, F. S. (2015), “Tax Evasion, Financial Dualism, and Economic Growth,” Academia Economic Papers, 43:2, 175-213. Huo, T. M. (1997), “Inflation and Capital Accumulation in a Two-Sector Cash-in-Advance Economy,” Journal of Macroeconomics, 19(1), 103-115. Ihrig, J. and Moe, K. (2004), “Lurking in the Shadows: The Informal Sector and Government Policy,” Journal of Development Economics, 73, 541-577. Johnson, S., Kaufmann, D. and Shleifer, A. (1997), “The Unofficial Economy in Transition,” Brookings Papers on Economic Activity 2, 159-221. Koreshkova, T. A. (2006), “A Quantitative Analysis of Inflation as a Tax on the Underground Economy,” Journal of Monetary Economics, 53(4), 773-796. Kolm, A. S. and Larsen, B. (2006), “Wages, Unemployment, and the Underground Economy.” Lewis, A.W. (1954), “Economic Development with Unlimited Supplies of Labour,” The Manchester School of Economic and Social Studies, May 1954. Loayza, N. V. (1996), “The Economics of the Informal Sector: A Simple Model and Some Empirical Evidence from Latin America,” World Bank Policy Research Working Paper, Series 1727. Lucas, Robert E., Jr. (1988), “On the Mechanics of Economic Development,” Journal of Monetary Economics, 22, 3-42. Lu, C. H., Chen, B. L. and Hsu, M. (2011), “The Dynamic Welfare Cost of Seignorage Tax and Consumption Tax in a Neoclassical Growth Model with a Cash-in-Advance Constraint,” Journal of Macroeconomics, 33(2), 247-258. Schmitt-Grohé, S., and Uribe, M. (2007), “Optimal Simple and Implementable Monetary and Fiscal Rules,” Journal of Monetary Economics, 54(6), 1702-1725. Schneider, F. and Enste, D. H. (2000), “Shadow Economies: Size, Causes, and Consequences,” Journal of Economic Literature, 38(1), 77-114. Smith, P. (1994), “Assessing the Size of the Underground Economy: The Statistics Canada Perspectives,” Canadian Economic Observer, 7, 3.16-3.33. Tanzi, V. (1980), “Underground Economy Build on Illicit Pursuit is Growing Concern of Economic Policy Markers,” International Monetary Fund, Feb, 4, 34-37. Uzawa, H. (1964), “Optimal Growth in a Two-Sector Model of Capital Accumulation,” The Review of Economic Studies, 31(1), 1-24. zh_TW
