| Popis: |
This study aims at testing an integrated model to estimating the economic impact of fiscal policies. The integration relies on linking a micro simulation model and a macro/meso model based on a biregional SAM (Tuscany-Rest of Italy). This connection represents an attempt to overcome the limits of both models, when they are separately running. Indeed micro models do not take into account all the interactions amongst institutional sectors while macro/meso models estimates those flows but they are not able to capture the direct effects on income distribution within households properly. In this article the two models have been connected simultaneously, unlike the majority of the approaches found in the literature, where this linkage has been performed recursively. The integrated model has been utilized to estimate the impact on both income distribution and growth of a flat income tax rate reform. The exercise has shown that the linked model provides a more complete impact estimate than the results coming from the two models running separately. |
