Tax Shifting in a Regulated Industry: An Analysis of the Property and Casualty Insurance Industry.
研究了财产与意外保险行业在1986年税收增加后，税负如何转嫁给所有者、劳动力和消费者，发现消费者承担了税负，且费率监管限制了价格上涨。
Abstract This paper explores the extent to which the property and casualty (P&C) insurance industry shifted the 1986 tax increase to owners, labor, and consumers. The theory of tax incidence suggests that, in general, capital owners bear the burden in the short-run, consumers bear the burden In the long-run, and labor costs are unaffected. However, the degree and timing of the tax shift Is hypothesized to vary depending on the rate regulatory regime under which the industry operates. Two competing regulation theories (public good theory and private interest theory) provide predictions on the effect of rate regulation on the shifting to owners, labor, and consumers. Using a simultaneous equation model, results indicate that consumers bore the burden of the tax increase, and that rate regulation constrained this consumer price increase.