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sidenav header background[11月21日]发展经济学workshop
发布日期：2018-11-19 02:14 来源：北京大学国家发展研究院
时间：2018年11月21日（周三）14：00-15：30
地点：北大国发院/中国经济研究中心万众楼小教室
主持人：张晓波、李力行、席天扬
主讲人：Jubo Yan
题目：Tax Evasion, Capital Gains Taxes, and the Housing Market
摘要：In this paper, we exploit a policy shock that differentially increased capital gains taxes for some residential property sellers and document tax evasion in the residential resale market in China. Having precise information of the transaction price and the reported price to the tax authority, we show that after the capital gains tax increase, property seller’s reported price at the tax authority is 15% lower. We also document that the policy has strong heterogeneous effects, wealthy cash buyers are 5.6% more likely to buy a house as opposed to buyers who need financing. This is mainly because financing buyers would like to have a higher reported price to secure higher bank financing but the seller wants to have a lower reported price to evade taxes. This exasperates wealth inequality in a rising housing market.
主讲人简介：Jubo Yan is an assistant professor in Economics at Nanyang Technological University. He received his Ph.D. from the Charles H. Dyson School of Applied Economics and Management at Cornell University. His primary research interests are behavioral economics and experimental economics especially the topics that concern individual decisions under risk and uncertainty. In addition, he also conducts empirical research in the field of environmental economics and energy economics.
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首页
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教学项目展开 / 收起
sidenav background教学项目
sidenav header background[11月21日]发展经济学workshop
发布日期：2018-11-19 02:14 来源：北京大学国家发展研究院
时间：2018年11月21日（周三）14：00-15：30
地点：北大国发院/中国经济研究中心万众楼小教室
主持人：张晓波、李力行、席天扬
主讲人：Jubo Yan
题目：Tax Evasion, Capital Gains Taxes, and the Housing Market
摘要：In this paper, we exploit a policy shock that differentially increased capital gains taxes for some residential property sellers and document tax evasion in the residential resale market in China. Having precise information of the transaction price and the reported price to the tax authority, we show that after the capital gains tax increase, property seller’s reported price at the tax authority is 15% lower. We also document that the policy has strong heterogeneous effects, wealthy cash buyers are 5.6% more likely to buy a house as opposed to buyers who need financing. This is mainly because financing buyers would like to have a higher reported price to secure higher bank financing but the seller wants to have a lower reported price to evade taxes. This exasperates wealth inequality in a rising housing market.
主讲人简介：Jubo Yan is an assistant professor in Economics at Nanyang Technological University. He received his Ph.D. from the Charles H. Dyson School of Applied Economics and Management at Cornell University. His primary research interests are behavioral economics and experimental economics especially the topics that concern individual decisions under risk and uncertainty. In addition, he also conducts empirical research in the field of environmental economics and energy economics.
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