Dynamic Capital Tax Competition under the Source Principle
研究了在来源原则下，各辖区间资本税收竞争的短期和长期影响，发现净资本税外部性短期为正、长期趋零，非合作资本税初始为正并逐渐下降。
We explore the short- and long-run implications of tax competition between jurisdictions, where governments can only tax capital at source. We do this in the context of a neoclassical growth model under commitment and capital mobility. We provide a new theoretical perspective on the dynamic capital tax externalities that emerge in this model. Numerically, we show that the net capital tax externality is positive in the short run but converges to zero in the long run. We also find that noncooperative source-based capital taxes are initially positive and slowly decline toward zero.