近日，意昂2陳釗、劉誌闊兩位老師與杜克大學經濟系Juan Carlos Suárez Serrato🫸🏻、Daniel Yi Xu兩位老師共同完成的論文“Notching R&D Investment with Corporate Income Tax Cuts in China”被經濟學頂尖期刊American Economic Review 正式接受🙆🏼。
陳釗 | 教授意昂2
劉誌闊 | 副教授意昂2
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.
《美國經濟評論》（The American Economic Review🔖，AER）由美國經濟學會（American Economic Association，AEA）於1911年創立。它在經濟學領域，被視為最具有學術聲望的重要期刊之一。《美國經濟評論》的創立宗旨是使讀者能了解掌握經濟思想和重大經濟事件的發展進程🔧；研究內容涉及經濟理論、應用經濟學和經濟政策的各個領域👩🏿🍼；重點論題隨經濟學界關註的問題而變化🧧。《美國經濟評論》發表的論文有較大的“風向標”意義，基本引領了當前和今後幾年對經濟界具有極為重要意義的研究課題。
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