Table 1 Model parameter settings.
Parameter | Description | Value | Source |
|---|---|---|---|
\({\alpha }_{j}\) | Capital share parameter | 0.3–0.7 | SAM and literature |
\({\rho }_{j}\) | Substitution parameter | 0.5–1.5 | Literature |
\({\beta }_{h,i}\) | Marginal budget share | 0.1–0.6 | CHIP survey |
\({\gamma }_{h,i}\) | Subsistence level of consumption | 50–500 yuan | CHIP survey |
\({\tau }_{a}\) | Agricultural income tax rate | 0.05 | Government policy |
\({\tau }_{w}\) | Wage income tax rate | 0.03–0.45 | Government policy |
\({\tau }_{c}\) | Consumption tax rate | 0.13 | Government policy |
\({\tau }_{m}\) | Import tariff rate | 0.05–0.25 | Government policy |
