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Tax Rates Impact On Gdp In Poland

Author

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  • Piotr Krajewski

    (University of Lodz, Poland)

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.

Suggested Citation

  • Piotr Krajewski, 2012. "Tax Rates Impact On Gdp In Poland," Equilibrium. Quarterly Journal of Economics and Economic Policy, Institute of Economic Research, vol. 7(3), pages 27-42, September.
    • Handle: RePEc:pes:ierequ:v:7:y:2012:i:3:p:27-42
    DOI: 10.12775/EQUIL.2012.017
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    Cited by:

    1. Paweł Baranowski & Piotr Krajewski & Michał Mackiewicz & Agata Szymańska, 2016. "The Effectiveness of Fiscal Policy Over the Business Cycle: A CEE Perspective," Emerging Markets Finance and Trade, Taylor & Francis Journals, vol. 52(8), pages 1910-1921, August.

    More about this item

    Keywords

    taxes; fiscal policy;

    JEL classification:

    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy; Modern Monetary Theory

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