Microsimulation und Model Development
Project Description
Content of this project is the ongoing development of the Liechtenstein micro-simulation models. There are two basic models: microLIE: PIT is the model of the personal income tax system and microLIE: CIT a model for the business tax. The micro-simulation models are continuously adapted to the current legal status and methodically expanded. For the business tax model was a data-based measure of the corporate marginal tax rate developed. In the model of the personal income taxation was a new welfare measurement implemented. The next steps in the methodological development of the business tax model concern the simulation of changes in capital structure, the model of natural persons will be extended by a life-cycle model.
Relevance to Liechtenstein
Die Mikrosimulationsmodelle bilden das liechtensteinische Steuersystem mit seinen Spezifika ab. Durch ihre Weiterentwicklung (ua der Modigliani-Miller Theoreme zur Bestimmung der gewichteten Kapitalkosten unter Einbezug des liechtensteinischen Steuersystems) können unter Berücksichtigung des Einflusses des liechtensteinischen Steuersystems Investitionen und Unternehmen bewertet werden.
Scientific, Economic and Societal Impact
The project allows the ongoing development of the Liechtenstein micro-simulation models. The implementation of new scientific methods extends the range of techniques available for policy analysis on behalf of the Liechtenstein government.
