Tax Changes Effects on the Czech Economy

Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216224%3A14560%2F20%3A00117720" target="_blank" >RIV/00216224:14560/20:00117720 - isvavai.cz</a>
Result on the web
<a href="https://www.narodacek.cz/conference-proceedings-2020/" target="_blank" >https://www.narodacek.cz/conference-proceedings-2020/</a>
DOI - Digital Object Identifier
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Result language
angličtina
Original language name
Tax Changes Effects on the Czech Economy
Original language description
Today, economies are struggling with the consequences and uncertainty caused by the pandemic of novel coronavirus. Economic subjects turn their attention to the government and ask for help. Government budgets will face a real challenge in the next years, due to current high demand for the spending and expected decline in income. This paper investigates the current condition of public finances in the Czech Republic and the possible effects on economy by decreasing direct taxes on labor and capital. Simple DSGE model of small and closed economy with 3 sectors is calibrated using data from 2018 and stochastic analysis is performed. It is shown that economy is more sensitive to the shocks on labor than on capital income taxes. Results support the tax reform of decreasing labor taxes for which Czechia is waiting for long time.
Czech name
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Czech description
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Publication year
2020
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Article name in the collection
Proceedings of the International Scientific Conference ECONOMIC AND SOCIAL POLICY
ISBN
9788087291276
ISSN
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e-ISSN
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Number of pages
11
Pages from-to
162-172
Publisher name
Vysoká škola PRIGO
Place of publication
Ostrava
Event location
Trojanovice
Event date
Jan 1, 2020
Type of event by nationality
EUR - Evropská akce
UT code for WoS article
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