Research on Macroeconomic Effects of Tax Reduction and Fee Reduction Policy from the Perspective of High-Quality Development——Policy Simulation Based on Dynamic Stochastic General Equilibrium Analysis Framework
Research on Macroeconomic Effects of Tax Reduction and Fee Reduction Policy from the Perspective of High-Quality Development——Policy Simulation Based on Dynamic Stochastic General Equilibrium Analysis Framework
Tax and fee reduction is a major measure for China to further promote supply-side structural reform,which is of great significance for promoting the high-quality development of China's economy.Combined with the characteristics of China's fiscal and taxation system reform,a dynamic stochastic general equilibrium model is constructed,and the effectiveness of tax and fee reduction policies in the high-quality development stage is measured and compared.The results show that,tax and fee reductions can not only play a good role in stimulating aggregate demand in the short term,but also promote high-quality economic development by optimizing the supply and allocation of factors.In addition,there are obvious differences in the implementation effectiveness and transmission mechanism of different tax and fee reduction policies.The short-term stimulus effect of the consumption tax reduction policy is strong,but the policy effect is not sustainable.The policies of VAT tax reduction and social security fee reduction are more effective and durable,and can help stabilize expectations and boost market confidence;Income tax cuts help stabilize growth and boost employment,but they crowd out private spending.Therefore,we should continue to deepen the reform of the fiscal and taxation system and gradually optimize the current tax structure in China.At the same time,according to the policy objectives and the characteristics of policy tools,through the combined tax and fee policy,a policy synergy to promote high-quality development should be formed.
关键词
减税降费/宏观经济效应/动态随机一般均衡/财税体制改革
Key words
tax reduction and fee reduction/macroeconomic effects/dynamic stochastic general equilibrium/fiscal and taxation system reform
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