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2014 | OriginalPaper | Chapter

11. Influence of the Corporation Tax Rate on GDP in an Agent-Based Artificial Economic System

Authors : Shigeaki Ogibayashi, Kousei Takashima

Published in: Advances in Computational Social Science

Publisher: Springer Japan

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Abstract

An agent-based model of an artificial economic system, including the government, was developed on the basis of the authors’ previous model. This model was used to analyze the factors influencing the relationship between GDP and the corporation tax rate and its mechanism. The findings show that executive compensation and the use of producers’ own cash for investment are both indispensable factors for reproducing the negative correlation between GDP and the corporation tax rate, because these actions help redistribute the firm’s surplus money to the market. Inefficiency in government expenditure is another indispensable condition. The calculated average multipliers for the reduction of both income tax and corporation tax are in good agreement with real data based on the macroeconometric model.

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previous chapter Macroeconomic Forecasting with Agent-Based Models: Prediction and Simulation of the Impact of Public Policies on SMEs
next chapter Semi-Artificial Models of Populations: Connecting Demography with Agent-Based Modelling
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Metadata
Title
Influence of the Corporation Tax Rate on GDP in an Agent-Based Artificial Economic System
Authors
Shigeaki Ogibayashi
Kousei Takashima
Copyright Year
2014
Publisher
Springer Japan
Book
Advances in Computational Social Science

Print ISBN: 978-4-431-54846-1

Electronic ISBN: 978-4-431-54847-8

Copyright Year: 2014

DOI
https://doi.org/10.1007/978-4-431-54847-8_11