Effects of Direct Tax Shock on GDP and Inflation in Iran in the Context of a Dynamic Stochastic General Equilibrium Model

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MAKIYAN SEYED NEZAMUDDIN; tavakolian hosein; Najafi Farashah S.M.Saleh

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Journal: Financial Economics Year:2020 | Volume:13 | Issue:49 Page(s): 1-45

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Title

Effects of Direct Tax Shock on GDP and Inflation in Iran in the Context of a Dynamic Stochastic General Equilibrium Model

Author(s)

MAKIYAN SEYED NEZAMUDDIN | tavakolian hosein | Najafi Farashah S.M.Saleh | Issue Writer Certificate

Keywords

Labor income taxQ1

Direct taxQ2

Corporate taxQ1

Dynamic Stochastic General Equilibrium modelQ1

Abstract

The aim of this study was to investigate the effects of Direct taxes on macroeconomic variables, such as GDP and inflation. For this purpose, a Dynamic Stochastic General Equilibrium model has been developed. The results showed that a shock of standard deviation in Corporate taxes could reduce the GDP by 0. 13% and reduce the inflation rate by 0. 01%. In fact, raising taxes on companies reduces investment by 1. 5 percent. Also, the creation of a shock in the income tax of the labor force to the extent of a standard deviation causes the GDP to decrease by 0. 0074%, which is due to the decrease in the supply of labor. By applying income tax shock, the supply of labor will be reduced by 0. 012%. The effect of shock on GDP is eliminated after 10 periods. inflation rises to 0. 025 percent, then decreases to a stable level in less than a year.

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APA: Copy

MAKIYAN, SEYED NEZAMUDDIN, tavakolian, hosein, & Najafi Farashah, S.M.Saleh. (2020). Effects of Direct Tax Shock on GDP and Inflation in Iran in the Context of a Dynamic Stochastic General Equilibrium Model. JOURNAL OF FINANCIAL ECONOMICS (FINANCIAL ECONOMICS AND DEVELOPMENT), 13(49 ), 1-45. SID. https://sid.ir/paper/229282/en

Vancouver: Copy

MAKIYAN SEYED NEZAMUDDIN, tavakolian hosein, Najafi Farashah S.M.Saleh. Effects of Direct Tax Shock on GDP and Inflation in Iran in the Context of a Dynamic Stochastic General Equilibrium Model. JOURNAL OF FINANCIAL ECONOMICS (FINANCIAL ECONOMICS AND DEVELOPMENT)[Internet]. 2020;13(49 ):1-45. Available from: https://sid.ir/paper/229282/en

IEEE: Copy

SEYED NEZAMUDDIN MAKIYAN, hosein tavakolian, and S.M.Saleh Najafi Farashah, “Effects of Direct Tax Shock on GDP and Inflation in Iran in the Context of a Dynamic Stochastic General Equilibrium Model,” JOURNAL OF FINANCIAL ECONOMICS (FINANCIAL ECONOMICS AND DEVELOPMENT), vol. 13, no. 49 , pp. 1–45, 2020, [Online]. Available: https://sid.ir/paper/229282/en

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