Ad valorem versus unit taxes on capital in a dynamic stochastic general equilibrium model

Chu, Shiou-Yen; Wu, Tsaur‐Chin

doi:10.1007/s10797-022-09764-8

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2023

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“…This may be because government spending is assumed to be nonproductive in the model. It plays no role of public investment, that is, it does not enter firms' production function as public capital, as specified in Chu and Wu (2022) and Hinterlang et al (2023). Expansionary government spending hence has a smaller stimulus effect on the economy.…”

Section: Resultsmentioning

confidence: 99%

The impact of the COVID‐19 pandemic on high‐skilled and low‐skilled labor markets in a DSGE model

Chu

2023

Scottish J Political Eco

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This research analyzes the unequal impact of COVID‐19 on high‐skilled and low‐skilled labor in a dynamic stochastic general equilibrium (DSGE) model. The model is calibrated to fit Taiwan's economy and evaluates the effectiveness of various fiscal measures, including an increase in government spending, an increase in lump‐sum transfers, a disbursement of consumption vouchers, and an income tax cut, for combating the pandemic recession. Our results indicate that low‐skilled households tend to hoard labor more than high‐skilled households during economic downturns. An income tax cut outperforms other fiscal instruments in generating the highest aggregate welfare and in advancing output, employment, and consumption.

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Section: Resultsmentioning

confidence: 99%

The impact of the COVID‐19 pandemic on high‐skilled and low‐skilled labor markets in a DSGE model

Chu

2023

Scottish J Political Eco

View full text Add to dashboard Cite

show abstract

Ad valorem versus unit taxes on capital in a dynamic stochastic general equilibrium model

Cited by 1 publication

References 39 publications

The impact of the COVID‐19 pandemic on high‐skilled and low‐skilled labor markets in a DSGE model

The impact of the COVID‐19 pandemic on high‐skilled and low‐skilled labor markets in a DSGE model

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