存在总营业收入税下的纵向一体化与生产无效率

中文摘要

我们首次量化了总营业收入税（GRT）对纵向一体化的影响。我们使用了华盛顿州休闲大麻产业的数据，该数据具有诸多优势，包括一个干净的自然实验：对大麻企业征收的25%的总营业收入税随后被零售环节的消费税所取代。我们发现，纵向一体化对中间品税后净率的短期弹性为−0.15，长期弹性约为短期的两倍。我们发现这些激励导致了巨大的产出损失——当取消总营业收入税时，产量增加23%。

Abstract

We quantify the effects of a gross receipts tax (GRT) on vertical integration for the first time. We use data from the Washington state recreational cannabis industry, which has numerous advantages including a clean natural experiment: a 25% GRT imposed on cannabis firms was subsequently replaced by an excise tax at retail. We find the short-run elasticity of vertical integration with respect to the intermediate good net-of-tax rate is −0.15 and the long-run elasticity is about twice as large. We find these incentives lead to large output losses – production increases by 23 percent when the GRT is eliminated.