Taxation of Interest Income, Deregulation and the Banking Industry
构建模型分析取消存款利率上限与降低利息税率对银行业结构的不同影响，关注银行在支付显性利率与服务回报之间的选择，适合研究银行竞争与税收政策的学者。
ABSTRACT Removing interest rate ceilings on bank deposits or reducing the tax rate applicable to the interest earned on such deposits are alternative means of increasing the after‐tax return to depositors. These alternatives, however, have differing impacts on the structure of a competitive banking industry. This paper develops a model which focuses on a bank's choice between paying an explicit interest rate on its deposits and paying a return in the form of services. The model allows banks to differ in their production technologies and depositors in their marginal tax rates and preferences for services. The effects of tax rate changes and a ceiling on the explicit deposit interest rate are analyzed.