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Tax Rates Impact on GDP in Poland

  • Piotr Krajewski

    ()

    (University of Lodz, Poland)

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    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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    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
    Contact details of provider: Web page: http://www.wydawnictwoumk.pl

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