个人所得税、养老金对家庭资产的影响
首发时间:2017-05-08
摘要:本文运用2011年的中国家庭金融调查(CHFS)数据,着重测度了个人所得税和养老保险收益对家庭资产的选择和组合状况的影响。重点考究了七种家庭资产:房产、储蓄、风险性金融资产、其他非金融资产、手持现金、自有车辆和家庭负债。研究结果表明:个人所得税边际税率的提高会降低家庭拥有房产和车辆的可能性。提高养老保险终生预期收益现值与终生工资收入现值的比率会增加家庭持有房产、家庭储蓄和现金的概率,却会降低家庭拥有车辆的可能性。养老保险终生预期收益现值与家庭净资产之间的比率对于房产、其他非金融资产、风险性金融资产和家庭总负债的持有概率具有显著的负效应。个人所得税边际税率的提高会增加家庭对于储蓄和风险性金融资产的需求。养老保险终生预期收益现值与家庭净资产之间的比率对于自有车辆的相对份额、风险性金融资产的相对份额、现金持有的相对份额和家庭总负债的相对份额均具有显著性影响。?????
关键词: 边际税率 养老金收益 家庭资产选择 资产组合?????
For information in English, please click here
The impact of individual income tax and pension wealth on household portfolio composition
Abstract:This paper examines the impact of individual income tax and pension wealth on choices of household assets and assets composition, using a set of cross sectional data of 2011 CHFS. The paper chooses 7 types of assets which include house property, deposits, risk financial assets, non-financial assets, currency, passage cars and debt. The results confirm that a higher marginal tax rate tends to decrease the probability of holding more housing and cars. A higher percentage of pension wealth in permanent income may increase the probability of holding more housing,deposits and currency,while it will decrease the probability of holding cars. The percentage of pension wealth in values of net assets has a negative effect on the probability of holding house property, non-financial assets, risk financial assets and debt. An increase in marginal tax rate will increase the demand for deposits and risk financial assets. The percentage of pension wealth in values of net assets has a significant effect on demanding for cars, risk financial assets, currency and debt.
Keywords: Marginal Tax Rate Pension Wealth Household Assets Choice Portfolio Composition
论文图表:
引用
No.4731325119855214****
同行评议
共计0人参与
勘误表
个人所得税、养老金对家庭资产的影响
评论
全部评论0/1000