The synergy effect of fiscal and financial policy -research based on small and micro loan interest income value -added tax reduction
October 26, 2022 10:38 Source: China Social Sciences Magazine Author: Liu Chong Liu Lia

  Bet365 app download Under the framework of traditional monetary policy in my country,Excessive use of structural policy tools,It may cause a problem with the total amount,Make monetary policy facing a balanced problem of Bet365 app download stable growth and structure。Reduction of small and micro loan interest income VAT is a useful attempt for the collaboration of fiscal and financial policies,It is "interest rate channel for tax policy"。Empirical analysis of the loan data of a large bank is found,This policy tool has significantly reduced financing costs,and improved credit gain。Based on this,Build a bank credit decision model containing tax conditions,Theoretical logic depicting its role,can be found,Bet365 lotto review Compared with the structural monetary policy transmitted by the liability side to the asset side,Loan interest income tax reduction directly acts on bank asset side,The conduction path is more direct,Small friction。This "interest rate channel for tax policies" that does not rely on central bank liquidity investment and interest rate operations,It can broaden the space for macro financial regulation,to ease multi -target conflict of monetary policy。

  

Keywords:Financial Bet365 app download and financial policy collaboration  VAT  Interest rate channel  macro financial regulation

  

Author LiuChong,Associate Professor of Financial College of Shanghai University of Finance and Economics; Liu Lia,Professor of Financial College of Shanghai University of Finance and Economics。(Shanghai 200433)

  

Editor in charge: Cui Cen
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