Income Taxes and Price Variability in Storable Commodity Markets
研究累进所得税如何影响可储存商品的储存决策，导致总储存量下降和价格波动加剧，并探讨了通过统一税率或改革税收报告制度来消除这些扭曲的可能性。
Abstract Progressive income taxes lead to distortions in economic decisions made across tax years. This is particularly important when income is volatile, as in the case of agriculture. Progressive taxes, therefore, can fundamentally change economic behavior over time. This study explores how progressive income taxes influence storage decisions and the markets for storable commodities. Under a progressive tax system, commodity storage tends to be lower in the aggregate and, as a consequence, price volatility increases. These distortions could be eliminated by introducing a flat‐rate tax or by changing the tax reporting system for farmers.