Analysis Of The Effects Of My Country's Tax And Fee Reduction Policie

Taxation has always been an important tool of government macro-control and there are abundant researches on the economic effects of taxation.In the face of the pandemic and the sluggish world economy,tax and fee reduction policies have played an important role in reviving the vitality of various market players,and the implementation of tax and fee reduction policies has been effective.Therefore,by constructing SVAR model and DSGE model,SVAR model provides empirical evidence,DSGE model conducts theoretical analysis,and uses impulse response function to analyze the impact path of tax and fee reduction policy from both empirical and theoretical levels.This paper based on the vector autoregressive model(SVAR)structure described in short-term and long-term constraints imposed tax impact on output,consumption and investment experience fact,secondly,according to the real business cycle theory to build three department of dynamic stochastic general equilibrium(DSGE)model,the empirical analysis in the case of the total amount of tax and distorting tax policies prevailing worldwide tax policy effect,On output,consumption,investment,Labour supply,wages and return on capital,and draw the following conclusions:(1)According to the results of SVAR model,it can be found that tax has a great impact on macroeconomic fluctuations,and a 1% increase in total tax rate will quickly affect output,consumption and investment.Specifically,under short-term constraints,the long-term impact of 1% increase in total tax rate on the growth rate of real output is a downward deviation of 0.55%;Under long-term constraints,it presents a continuous positive impact.However,both long-term and short-term constraints fluctuate violently in the first two periods,and then steadily approach to zero.(2)of the total tax cuts after shock,brings,consumption growth rate of output growth rate and the increase of capital growth,stimulate increased by 0.5%,the growth rate of output growth rate of consumption increased by 0.6%,capital growth rate increased by 1%,the total lower taxes on capital growth stimulating effect of the most significant,effect on consumption growth rate increase most quickly,And the three trends are basically the same,showing an inverted U-shaped trend,which also indicates that after tax reduction,output level is mainly affected by stimulating investment increase and consumption level improvement.(3)In the distortion tax analysis,it is found that consumption tax reduction has the strongest stimulating effect on the increase of output growth rate,followed by capital tax and labor tax.A 1% decrease in the effective tax rate of consumption tax stimulates a 0.3% increase in output growth rate,a 1% decrease in the effective tax rate of capital tax stimulates a 0.004% increase in output growth rate,and a 1% decrease in the effective tax rate of labor tax leads to a 0.04% decrease in output growth rate.