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1、ZeroOptimalLaborIncomeTaxationinanEconomywithAsymmetricInformationXiaojunZhao,XiaohuaWangandZhuoHuangSchoolofEconomics,PekingUniversityWorkingPaperNo.E-2014-006Dec-11-2014CopyrightbytheAuthor(s)信息不对称经济中的零最优劳动收入税ZeroOptimalLaborIncomeTaxationinanEconomywithAsymme
2、tricInformation*XiaojunZHAOSchoolofEconomics,PekingUniversityXiaohuaWangCEMA,CentralUniversityofFinanceandEconomicsZhuoHuangNationalSchoolofDevelopment,PekingUniversity*Correspondingauthor:XiaojunZhao,SchoolofEconomics,PekingUniversity,Beijing,100871,China.E-mai
3、l:zhaoxiaojun@pku.edu.cn.信息不对称经济中的零最优劳动收入税ZeroOptimalLaborIncomeTaxationinanEconomywithAsymmetricInformation摘要：本文提出一个非对称信息动态税制模式。我们利用拉格朗日乘子法，证明了在激励相容（IC）约束的经济下最优的劳动收入税收可能是零，只要我们假设的“信息分离的“效用函数。在动态情况下，信息不对称扭曲会影响资本收入结构，导致“逆欧拉方程”Golosov（2003）。但这种由于信息不对称的扭曲将不会影响收入分配，
4、即使在加总的冲击或资本主义精神的偏好假设下，我们的结论依然有效。关键词：激励相容约束；拉格朗日乘子；劳动收入税JEL分类码：C61;C73;H21.Abstract:Wedevelopadynamictaxationmodelwithasymmetricinformation.WeapplytheLagrangemultipliermethodtoshowthattheoptimallaborincometaxationcouldbezeroinaneconomywithincentivecompatible(IC)c
5、onstraints,onceweassumean"informationseparable"utilityfunction.Inthedynamiccontext,thedistortionwillaffectthestructureofcapitalincome,whichinducesthe"InverseEulerEquations"asinGolosovetal.(2003).Butthisdistortionduetoasymmetricinformationwillnotaffectincomedistr
6、ibution,eveninthedynamicsettingswithaggregateshocksandthespiritofcapitalismpreferences.Keywords:IncentiveCompatibleConstraints;LagrangianMultiplier;LaborIncomeTaxation.JELclassification:C61;C73;H21.1IntroductionInthetheoryofoptimaltaxation,zerotaxationplaystheke
7、yroleandconstitutesthebenchmarkconclusion.IntheprimaryRamseytaxationtheory,itiswellknownthattheoptimaltaxationshouldbezerointhedecentralizedeconomyifthereisnofrictionintheplannereconomy.Whileinthesecond-bestRamseytaxationtheory,theremaybeanon-zerotaxationrule,Ch
8、amly(1986)andJudd(1985)showedtheoptimaltaxationshouldtendtozerowhenthetimehorizongoestoin…nity.Mirrlees(1971)wasthe…rsttointroduceinformationasymmetryintotaxationandf
