Structural shifts in firm and household financing Structural shifts are another challenge that compels us to reassess our modelling frameworks and to augment them with further evidence on the evolution of the monetary policy transmission process. One example is the structure of private sector debt.
Furthermore, their situation is also being eased by the fact that the income tax scale is to be lowered in stages until 2005. The tax reform makes restructuring in the corporate sector easier because profits from sales of corporations’ participating interests are no longer subject to taxation. However, the tax depreciation facilities for spending on fixed assets have been made worse.