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Tax Rates Impact on GDP in Poland

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  • Piotr Krajewski

    ()
    (University of Lodz, Poland)

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    Abstract

    In the article tax rates impact on GDP in Poland is analysed. The analysis is based on dynamic stochastic general equilibrium model (DSGE model). Impulse-response analysis shows that the increase in income tax rate causes the decrease in capital, labour and production. Moreover capital is partially replaced by consumption, because households minimise consumption fluctuations. The comparison of effects of increasing taxation of the capital and labour shows that the impact on economy is stronger in case of wage taxes. Consumption taxes, by negative wealth effect, decrease after-tax consumption and capital but on the other hand increase labour and production. The direction of impact of consumption taxes on production is in this case opposite than in demand models.

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    File URL: http://www.equilibrium.umk.pl/plikidopobrania/2012_3_2_krajewski.pdf
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    Bibliographic Info

    Article provided by Uniwersytet Mikolaja Kopernika in its journal Equilibrium. Quarterly Journal of Economics and Economic Policy.

    Volume (Year): 7, Issue 3 (2012)
    Issue (Month): ()
    Pages: 27-42

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    Handle: RePEc:cpn:umkequ:2012:v3:2

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    Web page: http://www.wydawnictwoumk.pl

    Related research

    Keywords: taxes; fiscal policy;

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    1. Plosser, C.I., 1989. "Understanding Real Business Cycles," RCER Working Papers 198, University of Rochester - Center for Economic Research (RCER).
    2. Gary Hansen, 2010. "Indivisible Labor and the Business Cycle," Levine's Working Paper Archive 233, David K. Levine.
    3. Kolasa, Marcin, 2009. "Structural heterogeneity or asymmetric shocks? Poland and the euro area through the lens of a two-country DSGE model," Economic Modelling, Elsevier, vol. 26(6), pages 1245-1269, November.
    4. Coricelli, Fabrizio & Ercolani, Valerio, 2002. "Cyclical and Structural Deficits on the Road to Accession: Fiscal Rules for an Enlarged European Union," CEPR Discussion Papers 3672, C.E.P.R. Discussion Papers.
    5. Kydland, Finn E & Prescott, Edward C, 1982. "Time to Build and Aggregate Fluctuations," Econometrica, Econometric Society, vol. 50(6), pages 1345-70, November.
    6. Lawrence H. Summers, 1986. "Some skeptical observations on real business cycle theory," Quarterly Review, Federal Reserve Bank of Minneapolis, issue Fall, pages 23-27.
    7. George W. Stadler, 1994. "Real Business Cycles," Journal of Economic Literature, American Economic Association, vol. 32(4), pages 1750-1783, December.
    8. Tobin, James, 1978. "Comment from academic scribbler," Journal of Monetary Economics, Elsevier, vol. 4(3), pages 617-625, August.
    9. Aschauer, David Alan, 1988. "The Equilibrium Approach to Fiscal Policy," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 20(1), pages 41-62, February.
    10. Ellen R. McGrattan, 1991. "The macroeconomic effects of distortionary taxation," Discussion Paper / Institute for Empirical Macroeconomics 37, Federal Reserve Bank of Minneapolis.
    11. Lars Ljungqvist & Thomas J. Sargent, 2004. "Recursive Macroeconomic Theory, 2nd Edition," MIT Press Books, The MIT Press, edition 2, volume 1, number 026212274x.
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