Document Type : Research Paper


Institute for research and development in the humanities, SAMT, Tehran, Iran.



Assessing the recent decade’s literature outlines that, advanced economies mainly employed temporary tax incentives to spur economic activities after 2007-2008 economic crisis whereas developing countries use broadly them as a normal as well as a permanent fiscal policy to intrigue economy. Among latter group, Iran’s fiscal authorities have been using quite an extensive diversity of tax incentives to boost real sector variables such as investment, capital accumulation and output for a long-term period. The methodology is based on the simulating a partial as well as a general equilibrium model. Benefiting from a New Keynesian general equilibrium (NKGE) model, in this research, the comprehensive effects of tax allowances, accelerated depreciation, and tax reduction on the macroeconomic variables (investment, capital, output and consumption) and fiscal measures (government revenues and the present value of the government revenue) have been evaluated. Our findings reveal that, based on the assumption of flexible wages and prices, running tax incentives policy would culminate to considerable budget deficit followed by an unsustainable fiscal stance in the economy. However, imposing nominal rigidities by their special mechanisms brings about positive effects of tax incentives and relatively fiscal sustainability. In other words, introducing rigidities in wages and prices causes positive reactions of mentioned macro and fiscal variables.


Main Subjects

Article Title [Persian]

بررسی آثار مشوق های مالیاتی در چارچوب تعادل عمومی و جزیی: مطالعه موردی اقتصاد ایران

Author [Persian]

  • ابراهیم رضایی

موسسه تحقیق و توسعه علوم انسانی ( سمت)، تهران، ایران.

Abstract [Persian]

بررسی ادبیات تحقیق در یک دهة اخیر نشان می­دهد که کشورهای توسعه یافته اغلب از مشوق­های مالیاتی به عنوان یک ابزار مالی موقت جهت تحریک اقتصاد خود بعد از بحران مالی ۲۰۰۷-۲۰۰8 میلادی استفاده کرده­اند درحالی­که کشورهای در حال توسعه از این ابزار به­طور گسترده­ای به عنوان یک سیاست عادی و دائمی جهت به حرکت درآوردن اقتصاد خود استفاده می­کنند. در بین کشورهای گروه دوم، مقامات مالی در ایران از دامنة وسیعی از انواع مشو­های مالیاتی برای تحریک متغیرهای بخش واقعی اقتصاد مانند سرمایه­گذاری، انباشت سرمایه و تولید در بلندمدت بهره می­گیرند. روش­شناسی تحقیق حاضر برمبنای شبیه سازی یک مدل تعادل عمومی و جزئی استوار است.  در این مطالعه، با بهره­گیری از یک مدل تعادل عمومی کینزینی جدید، آثار مشوق­هایی مانند تخفیف­های مالیاتی، استهلاک شتابان و کاهش نرخ مالیات بر متغیرهای کلان اقتصادی (سرمایه گذاری، موجودی سرمایه، تولید و مصرف) و نیز بر متغیرهای بودجة دولت (درآمدهای دولت و ارزش فعلی درآمدهای دولت) مورد بررسی قرار گرفته­اند. نتایج بدست آمده نشان می­دهند که تحت فرض انعطاف­پذیری کامل قیمتها و دستمزدها، اجرای سیاست اعمال مشوق­های مالیاتی باعث افزایش قابل توجه کسری بودجه و بدنبال خود ناپایداری وضعیت مالی دولت خواهد شد. با این حال، تحمیل چسبندگی­های اسمی باعث بروز آثار مثبت مشوق­های مالیاتی و بهبود نسبی پایداری بودجه­ای دولت می­شود. به عبارت دیگر، چسبندگی قیمتها و دستمزدها باعث واکنش مثبت متغیرهای واقعی اقتصاد به مشوق­های مالیاتی می­شود.     

Keywords [Persian]

  • تعادل عمومی و جزئی
  • مشوق‌های مالیاتی
  • ایران
  • مدل تعادل عمومی کینزین های جدید
Auerbach, A. J., & Hassett K. (1991). Recent U.S. investment behavior and
the tax reform Act of 1986: A disaggregate view, Carnegie Rochester Conference
Series on Public Policy 35, 185-215.
Blanchard O. J., & Summers, L.H. (1986). Fiscal increasing returns,
hysteresis, real wages and unemployment, NBER Working Papers 2034, National
Bureau of Economic Research, Inc.
Brandstetter, L., & Jacob, M. (2013). Do corporate tax cuts increase
investments? Arqus Discussion Paper No. 153, December.
Central Bank of Iran, Economic Database Timeseries,
Rezaei, Iranian Journal of Economic Studies, 11(1) 2022, 59-84 81
Cummins, J. G., & Hassett, K. A. (1992). The effects of taxation on
investment: new evidence from firm level panel data, National Tax Journal, Vol
45, No3, pp: 243-51.
Dixit. A. K., & Robert S. P. (1994). Investment under uncertainty, NY, the
USA: Princeton University Press.
Drygalla, A., Holtemöller,O, & Konstantin K. (2017). The effects of fiscal
policy in an estimated DSGE model – The case of the German stimulus packages
during the Great Recession, Leibniz Information Centre for Economics, WP
Edge,R.M., & Rudd, J.B.(2011). General-equilibrium effects of investment
tax incentives, Journal of Monetary Economics, 58 (2011), 564–577.
Fadejeva, L. & Tkacevs, O. (2022). The effectiveness of tax incentives to
encourage private savings, Baltic Journal of Economics, 22, 110-125.
Feltenstein, A., & Shah,A. (1992). General equilibrium effects of investment
incentives in Mexico, WP, The World Bank, June.
Goolsbee. A. (1998). Investment tax incentives, prices and the supply of
capital goods, Quarterly Journal of Economics, 113(1), 121-148.
Holland, D., & Vann, R. J. (1998). Income tax incentives for investment, Tax
law design and drafting (2nd ed) the USA: International Monetary Fund.
Houndonougbo, A.N., & Mohsin, M. (2016). Macroeconomic effects of cost
equivalent business fiscal incentives, Economic Modelling, 56 (2016), 59–65.
House, C. L & Shapiro, M. D. (2004). Temporary investment tax incentives:
Theory with evidence from bonus depreciation, Working Paper, University of
House, C. L., Mocanu A.M., & Shapiro, M.D. (2019). Stimulus effects of
investment tax incentives: Production versus purchase, Working paper,
University of Michigan and NBER.
Iran’s Direct Tax Code, Iranian national tax administration, Tehran, Iran.
James, S. (2013). Tax and non-tax incentives and investments: Evidence and
policy implications, Working paper, World Bank Group.
Jorgenson, D. (1963). Capital theory and investment behavior, American
Economic Review, 53(2), 247-259.
Khiabani. N (2016). A dynamic CGE model for evaluation of energy
policies: Evidence from Iran, Iranian Journal of Economic Research, 21(69),1-
Krugman, P. (1991). Increasing returns and economic geography, Journal of
Political Economy, 99, 483-499.
Mintz, J. M. (1990). Corporate tax holiday and investment, World Bank
Economic Review, 4(1), 81–102.
Nakhli, S. R., Rafat, M., Dastjerdi, R. B., & Rafei, M. (2020). How do the
financial and oil sanctions affect the Iran's economy: A DSGE framework, Iranian
Journal of Economic Studies, 9(1) 2020, 35-70.
82 Rezaei, Iranian Journal of Economic Studies, 11(1) 2022, 59-84
Rezaei, E. (2022). Demographic changes and savings behavior: The
experience of a developing country, Journal of Economic Studies, Vol 49(4), 603-
Romer, D. (2012). Advanced macroeconomics, Fourth edition, NY, the
USA: the McGraw-Hill.
Shahmoradi, A., Haqiqi, I., & Zahedi, R. (2011). Impact analysis of energy
price reform and cash subsidy payment in Iran: A CGE Approach, MPRA Paper
No. 95809.
Shahmoradi, A., & Ebrahimi, A. (2010). Evaluation the impacts of monetary
policy on the Iranian economy in the stochastic general equilibrium model, Money
and Economics Quarterly, 15 (3), 39-56.
Sebele-Mpofu, F., Gomera, D., & Sibanda, S. (2022). Tax incentives: A
panacea or problem to enhancing economic growth in developing countries,
Journal of Accounting, Finance and Auditing studies, 8/2 (2022), 90-123.
Taee, H. (2007). An estimation of labor supply function using the Iranian
micro data, Iranian Journal of Economic Growth, 29, 93-112.
United Nations. (2018). Design and assessment of tax incentives in
developing countries, selected issues and a country experience, New York.
World Bank Group (WBG) (2020). Evaluating the costs and benefits of
corporate tax incentives, World Bank, Washington DC.
Zee, H. H, Stotsky, J. G. & Ley, E. (2002). Tax incentives for business
investment: A primer for policy makers in developing countries, World
Development, 30(9), 1497-1516.
Zwick E., & Mahon J. (2017). Tax policy and heterogeneous investment
behavior, American Economic Review ,107(1), 217-248.