為了因應2008 年全球金融海嘯的衝擊，許多國家透過降低勞動所得或資本所得稅來刺激經濟。本文為檢示這兩種不同類型減稅措施對
總體經濟的影響，將建立一個勞動搜尋之動態隨機一般均衡模型。我們的結果發現兩種減稅政策皆提高了產出、勞動市場的鬆緊程度及勞
動參與率，失業率則都是下降。然而，這兩種減稅政策對實質工資和勞動所得份額產生相反的影響。此外，我們發現勞動與資本之間的替
代彈性較大時，勞動所得份額會有不一樣的影響。

In response to the global financial crisis of 2008, many countries have implemented a stimulus by reducing labor income and/or capital income taxes. To examine the effects of these two distinctive types of tax cuts, we build a DSGE model with labor market search and matching frictions. We show that both tax cuts raise the output, labor market tightness, and the labor force participation rate but lower the unemployment rate. However, they generate the opposite effects on the wage rate and labor income share. Moreover, we find that a higher elasticity of substitution between labor and capital can obtain a reverse consequence on the labor income share.

目錄
學位論文審定書. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .i
摘要. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ii
Abstract . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . iii
第1 章緒論. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1
第2 章模型設立. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5
2.1 家計單位. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5
2.2 廠商. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6
2.3 政府. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7
2.4 媒合函數和工資決定. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8
2.5 市場結清條件. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9
第3 章模擬分析. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11
3.1 參數設定. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11
3.2 模擬分析. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12
3.2.1 模擬課徵勞動所得稅之影響. . . . . . . . . . . . . . . . . . . . . . . . . 12
3.2.2 模擬課徵資本所得稅之影響. . . . . . . . . . . . . . . . . . . . . . . . . 13
3.2.3 要素替代彈性的角色. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .14
第4 章結論. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .17
參考文獻. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24
附錄. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25
A.1 最適化條件. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26
A.2 穩定條件. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .29
A.3 線性化方程式. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .31

圖次
圖一 勞動所得稅率下降25%的衝擊效果. . . . . . . . . . . . . . . . . . . . .19
圖二 資本所得稅率下降13.3%的衝擊效果. . . . . . . . . . . . . . . . . . .20
圖三 不同要素替代彈性下，勞動所得稅率下降25%的衝擊效果. . .21
圖四 不同要素替代彈性下，資本所得稅率下降13.3%的衝擊效果. .22

表次
表1 參數值. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .23

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