Abstract: This article introduces labor market friction into the standard business cycle theoretical framework, constructs a dynamic general equilibrium model that takes into account the labor search behavior, analyzes the economic dynamic effects of two adjustment policies, the labor income tax and the capital income tax, and estimates the welfare costs of tax policies. The research results show that separate changes in the labor income tax and the capital income tax have opposite effects on labor income share and income inequality, and both will lead to the expansion of the gap between labor productivity and wages. At the same time, the implementation of proactive fiscal policies that reduce taxes and increase government spending can promote employment, increase the labor income share, and reduce income inequality. In addition, from the perspective of welfare costs, the co-directional adjustment of the labor income tax and the capital income tax has an asymmetric amplification effect on social welfare, and the tax portfolio adjustment policy combined with an increase in government expenditure will lead to higher social welfare.

Key words: Labor Search and Matching, Income Taxation, Capital Taxation, Labor Share, Welfare Cost

摘要： 本文将劳动力市场摩擦引入标准经济周期理论框架,构建了一个考虑劳动搜寻行为的动态一般均衡模型,分析了劳动所得税和资本所得税两种调整政策的经济动态效应,并对税收政策的福利成本进行了估算。研究结果表明,劳动所得税和资本所得税的单独变动对劳动收入份额和收入不平等的影响是相反的,而且都会导致劳动生产力与工资之间的缺口扩大。同时,实施减税并增加政府支出的积极性财政政策可以促进就业,提高劳动收入份额,减少收入不平等。此外,从福利成本的角度看,劳动所得税和资本所得税的同向调节对社会福利有非对称的放大作用,而且结合政府支出增加的税收组合调节政策会带来更高的社会福利。

关键词: 劳动搜寻匹配, 劳动所得税, 资本所得税, 劳动份额, 福利成本