O artykule
Kategoria artykułu: Article
Data publikacji: 23 cze 2017
Zakres stron: 59 - 69
Otrzymano: 17 gru 2016
Przyjęty: 03 mar 2017
DOI: https://doi.org/10.1515/ntaxj-2017-0004
Słowa kluczowe
© 2017 M. Kotamäki
This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.
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Figure 5
Calibration of Parameters
| Parameter | Value |
|---|---|
| 0.009 | |
| 0.82 | |
| 0.349 | |
| 1 | |
| 0.060 | |
| 2 | |
| 2.420 | |
| 0.545 | |
| 0.969 | |
| 0.5 |
Steady State and Data Averages 2009–2013
| Variable | Model-produced value | Data value |
|---|---|---|
| 0.536 | 0.539 | |
| 0.181 | 0.182 | |
| 0.051 | 0.015 Average yield on 5-year government bond 2009–2014. |
Sensitivity of the Model with Home Production
| Parameter | Baseline | Modified | Laffer Peak | ||
|---|---|---|---|---|---|
| value | value | ||||
| Baseline | 35% | 60% | 0% | ||
| Behavioral parameters | |||||
| 2 | 0.5 | +4% | +11% | 0% | |
| 0.969 | 0.95 | 0% | –5% | 0% | |
| 0.82 | 0.1 | +5% | +12% | +2% | |
| 0.5 | 0.4 | +1% | +33% | 0% | |
| Firm level parameters | |||||
| 0.009 | 0.02 | –2% | –8% | 0% | |
| 0.06 | 0.09 | 0% | –8% | 0% | |
| The government | |||||
| 0.243 | 0.3 | 0% | –9% | 0% | |
| 0.493 | 0.8 | 0% | 0% | 0% | |
Calibration of Exogenous Variables
| Variable | Value |
|---|---|
| 0.243 | |
| 0.04 | |
| 0.239 | |
| 0.448 | |
| 0.307 | |
| 0.509 |