On financial agglomeration and International financial Center: Theoretical research on construction -- perspective based on dynamic stochastic general equilibrium system and message impact
Journal: Financial Forum (Vol.1, No. 1)Publication Date: 2012-12-31
Authors : Wang yu Guo yinhiang;
Page : 1-8
Keywords : financial gathering; International Financial Center; dynamic random general balance;
Abstract
Based on the characteristics of China's financial market and the construction of Shanghai International Financial Center National Strategy , Building a dynamic stochastic general equilibrium model for financial agglomeration . through Calibration and Bayesian estimates for model structure parameters , Policy experimental analysis found :a) Lower gold Rong employee Income tax , Investor's financial assets income tax and financial sales tax Benefit Financial gathering ,Permanent tax change policy is strongest ; a ) Implementation encourage financial innovation main strategy , effectively promote financial agglomeration ; a )Financial Center construction " message Impact Shadows Ring expected , Whether the international financial center can be built as scheduled will significantly
affect the scale and speed of financial agglomeration.
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