Devolved fiscal powers, increased competitiveness and ‘levelling up’: a simulation approach
使用可计算一般均衡模拟分析英国区域减税对地方经济的影响，探讨财政分权如何影响区域竞争力与均衡发展目标。
The UK levelling up agenda includes a commitment to devolution, but there has been little attempt to model the operation of possible accompanying regional tax powers. We use computable general equilibrium simulations to analyse the local impacts of regional tax cuts. These reduce production costs, thereby stimulating regional economic activity. But the financing of any subsequent deficit and the operation of the regional labour market determines the size, nature and dynamics of resulting economic outcomes. Further, the decision to target labour or capital costs has implications for a range of regional economic impacts.