[PDF] Tax Reforms Free Lunches And Cheap Lunches In Open Economies eBook

Author : Giovanni Ganelli
Publisher : International Monetary Fund
Page : 32 pages
File Size : 39,65 MB
Release : 2008-09
Category : Business & Economics
ISBN :

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This paper focuses on the macroeconomic and budgetary impact of tax reforms in a New Keynesian two-country model. Our results show that both income and consumption unilateral tax rate reductions do not constitute a "free lunch", in the sense that they have negative budgetary consequences for the country which implements them. In addition, the degree of self-financing implied by our model is in the 81⁄2-24 percent range. Since the degree of self-financing estimated in previous literature was larger, we conclude that in our model not only the "lunch" is not "free", but is also not that "cheap". A comparison of alternative (income-tax versus consumption-tax based) fiscal stimulus packages shows that consumption tax cuts imply a larger short-run impact on domestic output but the income tax cuts stimulate the domestic economy more in the long run. We also look at the implications of a revenue-neutral tax reform in which consumption taxes are increased to compensate for lower income tax collection.

Author : Mr.Giovanni Ganelli
Publisher : International Monetary Fund
Page : 62 pages
File Size : 20,70 MB
Release : 2012-05-01
Category : Business & Economics
ISBN : 1475555601

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This paper studies tariff-tax reforms in a calibrated two-region global New Keynesian model composed of a developing and an advanced region. In our baseline calibration, a revenue-neutral reform that lowers tariffs in developing countries can reduce domestic welfare. The reason is that the increase in developing countries welfare due to higher output is dominated by the welfare losses stemming from the deterioration of the terms of trade. On the other hand, the reform increases output and welfare in the advanced countries and in the world as a whole. The effects that we highlight have not been studied in previous contributions to the literature, which typically looks at tariff-tax reforms using a small open economy framework. Nominal rigidities have important implications for adjustment dynamics in our model. In the case of a "point-for-point" reform, for example, price stickiness implies that the international dynamics of output is reversed compared to a revenue neutral reform.

Author : International Monetary Fund. Research Dept.
Publisher : International Monetary Fund
Page : 19 pages
File Size : 21,76 MB
Release : 2008-12-11
Category : Business & Economics
ISBN : 1451959540

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December 2008: IMF research summaries on global herding in financial markets (by Marco Cipriani) and on fiscal decentralization (by Lusine Lusinyan); article on the experiences of IMF staff at the Nobel Laureate Meetings in Lindau, Germany (by Chris Crowe); listing of visiting scholars at the IMF during August–December 2008; listing of contents of Vol. 55 No. 4 of IMF Staff Papers; listing of recent IMF Working Papers; listing of recent external publications by IMF staff; and a Call for Papers for an upcoming conference on structural reforms.

Author : Tom Bergin
Publisher : Random House
Page : 384 pages
File Size : 34,29 MB
Release : 2021-01-28
Category : Business & Economics
ISBN : 1473574617

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Countries with smaller governments grow faster. Tobacco taxes are the best way to cut smoking. Government regulation discourages entrepreneurship. Award-winning investigative journalist Tom Bergin digs into eight mantras widely accepted by Western governments and, by talking to the people who promote those ideas and the workers, businesspeople and consumers who have felt their impacts, finds they often don't play out as expected. Smart, funny and incisive, Free Lunch Thinking is essential reading for anyone who really wants to know how economies tick - and why they often don't. _______________________________________________________________ 'I couldn't put it down. A thorough and nuanced examination of the evolution of supply side economics . . . I loved it.' Arthur Laffer, creator of the Laffer Curve 'An entertaining and thought-provoking exploration of economic theories that have been both widely accepted and largely wrong . . . I devoured it in a couple of sittings.' Reuters Breakingviews 'An insightful account of the recent history of economic thought. If you are looking for a book which challenges you without being annoying - make it this one.' Institute of Economics Affairs

Author :
Publisher :
Page : 738 pages
File Size : 10,15 MB
Release : 1998
Category : Economics
ISBN :

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Includes papers and proceedings of the annual meeting of the American Economic Association. Covers all areas of economic research.

Author : Xiaohu (Shawn) Wang
Publisher : Routledge
Page : 265 pages
File Size : 32,94 MB
Release : 2015-04-29
Category : Business & Economics
ISBN : 131745796X

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The authors of this work argue strongly that the decentralization that has taken place in China over the past two decades threatens to undermine the future of reform and perhaps even the state itself. They contend that reform has undermined state capacity in China, and that the state's fiscal revenues, as a percentage of GNP, have declined and will continue to decline into the foreseeable future, thereby weakening China's ability to mobilize resources for modernization.

Author : Jonas Agell
Publisher : Springer
Page : 260 pages
File Size : 36,15 MB
Release : 2016-01-20
Category : Business & Economics
ISBN : 033399485X

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This book reviews the lessons from the Swedish 1991 tax reform, the most far-reaching tax reform in any Western industrialized country in the post-war period. The authors discuss a range of behavioural responses (including tax planning, savings, labour supply, investment, etc.), and assess the overall effects on efficiency and equity. They also draw lessons for tax reform more generally. The book should be of interest to anyone with an interest in tax policy and tax reform evaluation.

Author : Günther G. Schulze
Publisher : OUP Oxford
Page : 322 pages
File Size : 12,62 MB
Release : 2001
Category : Business & Economics
ISBN : 9780199261116

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This volume provides an up-to-the-minute review of the open economy approach to analyzing environmental problems and policies, which has produced a wealth of research over the past decade. It contains non-technical, issue-oriented, and comprehensive surveys written by specialists in international and environmental economics. The volume will appeal to scholars and students of economics and political science.

Author : Brian Snowdon
Publisher : Routledge
Page : 692 pages
File Size : 39,88 MB
Release : 1997-07-10
Category : Business & Economics
ISBN : 1134729081

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A Macroeconomics Reader brings together a collection of key readings in modern macroeconomics. Each article has been carefully chosen to provide the reader with accessible, non-technical, and reflective papers which critically assess important areas and current controversies within modern macroeconomics.The book is divided into six parts, each with