Newspaper Differentiation and Investments in Journalism: The Role of Tax Policy
研究了降低报纸间接税对新闻业投资和报纸差异化的影响，发现低税率可能反而导致投资不足和过度差异化，尤其在广告市场较小时，提高税收反而能提升社会福利。
Many countries levy reduced‐rate indirect taxes on newspapers, with proclaimed policy goals of stimulating investment in journalism and ensuring low newspaper prices. However, by taking into account the fact that the media industry operates in two‐sided markets, we find the paradoxical result that the consequences of a low‐tax regime might be quite the opposite. We also show that the low‐tax regime tends to increase newspaper differentiation. If the advertising market is relatively small, the newspapers might invest too little in journalism and be too differentiated from a social point of view. In this case a tax increase will be welfare‐enhancing.