Quantitative Analyse der Auswirkungen wirtschaftspolitischer Massnahmen auf die Einkommensverteilung und das «neue magische Viereck» in der Schweiz
Open access
Author
Date
2004Type
- Working Paper
ETH Bibliography
yes
Altmetrics
Abstract
Macroeconometric policy simulation models allow for an analysis, and, above all, for a quantification of the effects different economic policies have on the various variables that represent the economy. Despite the seminal ‘Lucas critique’ levelled against them, these models are still widely used, especially within policy-making institutions such as, e.g., central banks. In this paper, a model constructed by the author for the Swiss economy is used to explain, and to quantify the impact of fiscal, monetary, wage and social policies on the functional and personal distribution of income on the one hand, and on the four main objectives of contemporary economic policy on the other. These are: a high GDP growth, low inflation and unemployment, and a low or zero public deficit (the latter replacing the original fourth objective codified, e.g., in the German Stability Act of 1967, which was external balance). Our approach will enable us to answer questions like: Which income group suffers most from a hike in the short term interest rate?, Should a large public spending project better be financed by increasing the VAT rate or the income tax rate?, and How much could the aggregate social security contribution rate be lowered if the formula used for calculating the alignment of retirement pensions was changed? Show more
Permanent link
https://doi.org/10.3929/ethz-a-004871546Publication status
publishedJournal / series
Arbeitspapiere / Konjunkturforschungsstelle, Eidgenössische Technische Hochschule ZürichVolume
Publisher
KOF Swiss Economic Institute, ETH ZurichSubject
WIRTSCHAFTSPOLITIK; SWITZERLAND (CENTRAL EUROPE). SWISS CONFEDERATION; SCHWEIZ (MITTELEUROPA). SCHWEIZERISCHE EIDGENOSSENSCHAFT; ECONOMIC POLICY; EINKOMMENSVERTEILUNG; INCOME DISTRIBUTIONOrganisational unit
02525 - KOF Konjunkturforschungsstelle / KOF Swiss Economic Institute
More
Show all metadata
ETH Bibliography
yes
Altmetrics