Macroeconomics under the nonpublic land ownership system: raising tax rate to fund infrastructure construction for growth
| Variable | GDP | Output value of the “industrial sector” | Output value of the “commercial sector” | Fiscal revenue | Infrastructure investment | Infrastructure stock | Household welfare |
|---|---|---|---|---|---|---|---|
| Percentage change compared to baseline model | 0 | −10 | +17 | +33 | +85 | +81 | −9 |
| Variable | GDP | Output value of the “industrial sector” | Output value of the “commercial sector” | Fiscal revenue | Infrastructure investment | Infrastructure stock | Household welfare |
|---|---|---|---|---|---|---|---|
| Percentage change compared to baseline model | 0 | −10 | +17 | +33 | +85 | +81 | −9 |
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