Tax Evasion and the Consequences in the Real Estate Market
2018/09/11
研討會日期 : 2018-09-11
時間 : 14:30
主講人 : Professor Jubo Yan (閆巨博)
主持人 : Professor Tzu-Ting Yang
地點 : Conference Room B110
演講者簡介 : Professor Yan received his Ph.D. in Applied Economics and Management from Cornell University. He is currently an Assistant Professor at Nanyang Technological University. His primary research fields are Behavioral Economics, Experimental Economics, Environmental and Energy Economics; Secondary fields are Public economics, and applied Microeconomics.
演講摘要 : Tax is often considered an effective tool for many different policy purposes including curbing speculations in the housing markets. We document the effect of capital gain tax change on housing resale transactions in a major metropolitan in China. More importantly, we examine how evasion of such tax may dwarf the effectiveness of the policy and generate unintended consequences. We find that market participants respond to the tax policy change and try to absorb the shock by evading the increased tax. Furthermore, our results suggest that the policy has strong heterogeneous effects on different types of buyers and may unintendedly hurt the buyers with inelastic demand in the market by reducing their financing from formal institutions.
