近日，复旦大学中国社会主义市场经济研究中心陈钊、刘志阔两位老师与杜克大学经济系Juan Carlos Suárez Serrato、Daniel Yi Xu两位老师共同完成的论文“Notching R&D Investment with Corporate Income Tax Cuts in China”被经济学顶尖期刊American Economic Review 正式接受。
陈钊 | 教授
复旦大学中国社会主义市场经济研究中心
刘志阔 | 副教授
复旦大学中国社会主义市场经济研究中心
Abstract
We study a Chinese policy that awards substantial tax cuts to firms with R&D investment over a threshold or "notch." Quasi- experimental variation and administrative tax data show a significant increase in reported R&D that is partly driven by firms relabeling expenses as R&D. Structural estimates show relabeling accounts for 24.2% of reported R&D and that doubling R&D would increase productivity by 9%. Policy simulations show that firm selection and relabeling determine the cost-effectiveness of stimulating R&D, that notch-based policies are more effective than tax credits when relabeling is prevalent, and that modest spillovers justify the program from a welfare perspective.
《美国经济评论》（The American Economic Review，AER）由美国经济学会（American Economic Association，AEA）于1911年创立。它在经济学领域，被视为最具有学术声望的重要期刊之一。《美国经济评论》的创立宗旨是使读者能了解掌握经济思想和重大经济事件的发展进程；研究内容涉及经济理论、应用经济学和经济政策的各个领域；重点论题随经济学界关注的问题而变化。《美国经济评论》发表的论文有较大的“风向标”意义，基本引领了当前和今后几年对经济界具有极为重要意义的研究课题。
文章来源 ：AEA
