Progressive Taxation Macroeconomic Stabilization And Efficiency In Europe PDF Download
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Author | : Carlos Martinez-Mongay |
Publisher | : |
Total Pages | : 56 |
Release | : 2005 |
Genre | : Economic policy |
ISBN | : |
Download Progressive Taxation, Macroeconomic Stabilization and Efficiency in Europe Book in PDF, ePub and Kindle
Debates the stability/efficiency tradeoff of automatic stabilizers. A simple AD-AS two-country model is presented and illustrates circumstances where a reduction in taxes can foster stabization. The testable implication from the model is that tax cuts can either increase or decrease volatility depending on the structure of the taxation system. Hence, lowering taxes for efficiency purposes may have not cost in terms of stabilization. This implication is tested for OECD countries over the period 1960-2000 taking account of the endogeneity and omitted variables issues identified in the literature. We found acceptably robust evidence that the size of governments in OECD countries has played a stabilizing role for both output and inflation. However, the relationship between government size and macroeconomic stability is not linear. The compostiion of public finances, in particular the tax mix, matters for output and price volatility. Distorting taxes, namely taxes on labor, might have negative effects on macroeconomic stability. Consequently, the potential trade off between stability and flexibility might not exist.
Author | : International Monetary Fund. Fiscal Affairs Dept. |
Publisher | : International Monetary Fund |
Total Pages | : 78 |
Release | : 2016-12-10 |
Genre | : Business & Economics |
ISBN | : 1498345204 |
Download Tax Policy, Leverage and Macroeconomic Stability Book in PDF, ePub and Kindle
Risks to macroeconomic stability posed by excessive private leverage are significantly amplified by tax distortions. ‘Debt bias’ (tax provisions favoring finance by debt rather than equity) has increased leverage in both the household and corporate sectors, and is now widely recognized as a significant macroeconomic concern. This paper presents new evidence of the extent of debt bias, including estimates for banks and non-bank financial institutions both before and after the global financial crisis. It presents policy options to alleviate debt bias, and assesses their effectiveness. The paper finds that thin capitalization rules restricting interest deductibility have only partially been able to address debt bias, but that an allowance for corporate equity has generally proved effective. The paper concludes that debt bias should feature prominently in countries’ tax reform plans in the coming years.
Author | : Mr.Xavier Debrun |
Publisher | : International Monetary Fund |
Total Pages | : 48 |
Release | : 2010-05-01 |
Genre | : Business & Economics |
ISBN | : 1455200700 |
Download Fiscal Policy and Macroeconomic Stability Book in PDF, ePub and Kindle
The paper revisits the link between fiscal policy and macroeconomic stability. Two salient features of our analysis are (1) a systematic test for the government’s ambivalent role as a shock absorber and a shock inducer—removing a downward bias present in existing estimates of the impact of automatic stabilizers—and (2) a broad sample of advanced and emerging market economies. Results provide strong support for the view that fiscal stabilization operates mainly through automatic stabilizers. Also, the destabilizing impact of policy changes not systematically related to the business cycle may not be as robust as suggested in the literature.
Author | : Khaled Abdel-Kader |
Publisher | : INTERNATIONAL MONETARY FUND |
Total Pages | : 38 |
Release | : 2020-12-04 |
Genre | : Business & Economics |
ISBN | : 9781513561561 |
Download Tax Policy and Inclusive Growth Book in PDF, ePub and Kindle
This paper discusses the theory and practice of tax design to achieve an efficient and equitable outcome, i.e. in support of inclusive growth. It starts with a discussion of the key principles from tax theory to guide practical tax design. Then, it elaborates on more granular tax policy, discussing key choices in the structure of the personal income tax on labor and capital income, taxes on wealth, the corporate income tax, and consumption taxes. The paper concludes by highlighting the political economy considerations of the issues with concrete recommedtions as to how to implement tax reform.
Author | : Xavier Debrun |
Publisher | : INTERNATIONAL MONETARY FUND |
Total Pages | : 53 |
Release | : 2008-05-01 |
Genre | : Economic development |
ISBN | : 9781451869828 |
Download Government Size and Output Volatility: Should We Forsake Automatic Stabilization? Book in PDF, ePub and Kindle
The paper takes stock of the debate on the positive link between output volatility and the size of government-which reflects automatic stabilizers. After a survey of the literature, we show that the contribution of automatic stabilizers to output stability may have disappeared since the 1990s. However, econometric analysis suggests that the breakdown in the government size-volatility relationship largely reflects temporary developments (better monetary management and financial intermediation). Once these factors are taken into account, the stabilizing role of government size remains important although little extra stability can be gained by expanding public expenditure beyond 40 percent of GDP.
Author | : Nordiska Ministerrådet |
Publisher | : Nordic Council of Ministers |
Total Pages | : 224 |
Release | : 2010 |
Genre | : Economic policy |
ISBN | : 9289320893 |
Download Nordic Economic Policy Review Number 1 / 2010 Book in PDF, ePub and Kindle
Author | : International Monetary Fund |
Publisher | : International Monetary Fund |
Total Pages | : 257 |
Release | : 2015-04-20 |
Genre | : Business & Economics |
ISBN | : 1498344658 |
Download Fiscal Policy and Long-Term Growth Book in PDF, ePub and Kindle
This paper explores how fiscal policy can affect medium- to long-term growth. It identifies the main channels through which fiscal policy can influence growth and distills practical lessons for policymakers. The particular mix of policy measures, however, will depend on country-specific conditions, capacities, and preferences. The paper draws on the Fund’s extensive technical assistance on fiscal reforms as well as several analytical studies, including a novel approach for country studies, a statistical analysis of growth accelerations following fiscal reforms, and simulations of an endogenous growth model.
Author | : Mr.Charles Y. Mansfield |
Publisher | : International Monetary Fund |
Total Pages | : 26 |
Release | : 1987-06-01 |
Genre | : Business & Economics |
ISBN | : 1451975392 |
Download Tax Administration in Developing Countries Book in PDF, ePub and Kindle
This paper examines the role of tax administration in developing countries from an economic perspective. The traditional separation of tax policy and tax administration in the literature is shown to break down in developing countries, where tax administrators decide in what manner complicated tax legislation should actually be applied. After surveying economic literature dealing with tax administration, the paper offers guidelines on how tax administrators can help implement more efficient and equitable tax systems.
Author | : Ms.Era Dabla-Norris |
Publisher | : International Monetary Fund |
Total Pages | : 47 |
Release | : 2018-09-28 |
Genre | : Business & Economics |
ISBN | : 1484377451 |
Download Macroeconomic Effects of Tax Rate and Base Changes: Evidence from Fiscal Consolidations Book in PDF, ePub and Kindle
This paper examines the macroeconomic effects of tax changes during fiscal consolidations. We build a new narrative dataset of tax changes during fiscal consolidation years, containing detailed information on the expected revenue impact, motivation, and announcement and implementation dates of nearly 2,500 tax measures across 10 OECD countries. We analyze the macroeconomic impact of tax changes, distinguishing between tax rate and tax base changes, and further separating between changes in personal income, corporate income, and value added tax. Our results suggest that base broadening during fiscal consolidations leads to smaller output and employment declines compared to rate hikes, even when distinguishing between tax types.
Author | : |
Publisher | : |
Total Pages | : 854 |
Release | : 2012 |
Genre | : Electronic journals |
ISBN | : |
Download European Economy Book in PDF, ePub and Kindle