He Fan’s Co-Authored Paper Published in Management World

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Recently, a paper titled The Wage Elasticity Puzzle of Reduced Pension Insurance Contribution Rates — And on the Targeted Implementation Path of Proactive Fiscal Policy, He Fan (School of Finance and Taxation,JUFE) as the first author, co-authored by Li Wenjian (Zhejiang University) and Zhang Yi (Shanghai University of Finance and Economics), has been published in Management World, Issue 8, 2026.

This paper represents a phased achievement of Professor He Fan’s team in their research on taxation, social security and income distribution. In recent years, the research team has continuously examined specific institutional reforms in fiscal, taxation and social security systems, focusing on how tax and fee policies affect corporate behaviors, workers’ income, and development opportunities for different entities. Building further on firms’ financing conditions, this study discusses heterogeneous effects of fiscal policies and offers a new research perspective for understanding how tax reduction and fee cut policies can achieve targeted implementation.