This PDF is a selection from a published volume from... National Bureau of Economic Research
... for many years, making it hard to dismiss this evidence as being a result of some officials misunderstanding the implications of the policies they choose. Why would developing countries choose to impose such costs on themselves? A common explanation for such seemingly perverse policies in developing e ...
... for many years, making it hard to dismiss this evidence as being a result of some officials misunderstanding the implications of the policies they choose. Why would developing countries choose to impose such costs on themselves? A common explanation for such seemingly perverse policies in developing e ...
The Economics of Taxes
... • According to Laffer’s diagram, raising tax rates initially increases revenue, but beyond a certain level revenue falls instead as tax rates continue to rise. That is, at some point tax rates are so high and reduce the number of transactions so greatly that tax revenues fall. When Ronald Reagan ...
... • According to Laffer’s diagram, raising tax rates initially increases revenue, but beyond a certain level revenue falls instead as tax rates continue to rise. That is, at some point tax rates are so high and reduce the number of transactions so greatly that tax revenues fall. When Ronald Reagan ...
Elasticity and Buoyancy of Major Tax Categories: Evidence from
... macroeconomic and inter-generational consequences as well. Bank borrowing has also its limit; going beyond a certain threshold level exerts inflationary pressure and crowds-out private sector investment. Moreover, due to various supply constraints of the economy, capital inflow has yet not been at t ...
... macroeconomic and inter-generational consequences as well. Bank borrowing has also its limit; going beyond a certain threshold level exerts inflationary pressure and crowds-out private sector investment. Moreover, due to various supply constraints of the economy, capital inflow has yet not been at t ...
Province Législature Session Type de discours Date du discours
... It is with considerable disappointment, therefore, that I must report that our efforts to obtain a sensible resolution of the tax-sharing problem have gone unrewarded. At the meetings of Ministers of Finance in November and December, 1968, and during the Constitutional Conference in February of thi ...
... It is with considerable disappointment, therefore, that I must report that our efforts to obtain a sensible resolution of the tax-sharing problem have gone unrewarded. At the meetings of Ministers of Finance in November and December, 1968, and during the Constitutional Conference in February of thi ...
Decentralization Processes of Local Government Sector in Poland
... directly after II World War 1945 – 1950; at present beginning from 1990 year. In years 1951 - 1990 local government in Poland didn't exist. In exchange national councils of the fundamental as well as regional level functioned and they were written down into the structure of the organs of state g ...
... directly after II World War 1945 – 1950; at present beginning from 1990 year. In years 1951 - 1990 local government in Poland didn't exist. In exchange national councils of the fundamental as well as regional level functioned and they were written down into the structure of the organs of state g ...
This PDF is a selection from a published volume
... exogenous, time-varying levels of productivity, government purchases, and government labor input. Our results can be briefly summarized as follows. For a small country within our basic model, which knows that its policies have no effect on community-wide interest rates, it is optimal to set tax rate ...
... exogenous, time-varying levels of productivity, government purchases, and government labor input. Our results can be briefly summarized as follows. For a small country within our basic model, which knows that its policies have no effect on community-wide interest rates, it is optimal to set tax rate ...
Do the Catholic and Protestant Countries Differ by Their Tax
... larger in the Mediterranean countries than, say in the northern welfare states, cf. Schneider (2004). His results suggest that the typical size of the shadow economy relative to GDP in the OECD countries has varied between 8.4 per cent (the US) and 28.2 per cent (Greece) in 2002-2003. A recent study ...
... larger in the Mediterranean countries than, say in the northern welfare states, cf. Schneider (2004). His results suggest that the typical size of the shadow economy relative to GDP in the OECD countries has varied between 8.4 per cent (the US) and 28.2 per cent (Greece) in 2002-2003. A recent study ...
1 - Whitman People
... 5. Explain the key concepts of Keynesian economics. Why do Keynesians still support monetary and fiscal policy intervention even though it is clearly not capable of perfectly "fine-tuning" the economy? Define and explain the basic equations of Keynesians and Monetarists. Hint: aggregate expenditures ...
... 5. Explain the key concepts of Keynesian economics. Why do Keynesians still support monetary and fiscal policy intervention even though it is clearly not capable of perfectly "fine-tuning" the economy? Define and explain the basic equations of Keynesians and Monetarists. Hint: aggregate expenditures ...
NBER WORKING PAPER SERIES TAXPAYER BEHAVIOR AND THE Lawrence B. Lindsey
... received large rate reductions while others received none ...
... received large rate reductions while others received none ...
Download paper (PDF)
... (Stiglitz-Weiss, 1981), and a massive literature confirmed that credit rationing was important, particularly for small and medium sized firms. Moreover, many firms were also equity constrained 7 , that is, could not issue more equity shares. Therefore, they had to rely on retained earning for invest ...
... (Stiglitz-Weiss, 1981), and a massive literature confirmed that credit rationing was important, particularly for small and medium sized firms. Moreover, many firms were also equity constrained 7 , that is, could not issue more equity shares. Therefore, they had to rely on retained earning for invest ...
Document
... * 1986 Tax Reform Act had transition rate for 1987, fully effective in 1988. ** The 5% surtax recaptured the "benefit" of the initial 15% rate, creating the 33% "bubble"; marginal rate returned to 28% after taxpayer had lost all "benefit" from the 15% rate. † Rebate in 2001 equivalent to 10% rate. ‡ ...
... * 1986 Tax Reform Act had transition rate for 1987, fully effective in 1988. ** The 5% surtax recaptured the "benefit" of the initial 15% rate, creating the 33% "bubble"; marginal rate returned to 28% after taxpayer had lost all "benefit" from the 15% rate. † Rebate in 2001 equivalent to 10% rate. ‡ ...
Cato Institute Policy Analysis No. 261: Economic Record
... years as the first full year when the policies were in effect, the eight years in which Reagan's policies were in effect were 1982-89. This latter approach seems to provide a more accurate gauge of the economy's reaction to the change in policies Reagan enacted in 1981, and for this reason we adopt ...
... years as the first full year when the policies were in effect, the eight years in which Reagan's policies were in effect were 1982-89. This latter approach seems to provide a more accurate gauge of the economy's reaction to the change in policies Reagan enacted in 1981, and for this reason we adopt ...
Growth Effects of Progressive Taxes
... paradoxically coincided with higher-income households’ bearing a greater share of the tax burden. The models we present help explain these observations because lower statutory progressivity leads to increased pre-tax income inequality that potentially offsets the lower statutory rates for richer hous ...
... paradoxically coincided with higher-income households’ bearing a greater share of the tax burden. The models we present help explain these observations because lower statutory progressivity leads to increased pre-tax income inequality that potentially offsets the lower statutory rates for richer hous ...
The “Fiscal Cliff”: Macroeconomic Consequences of Tax Increases and Spending Cuts
... A major policy concern for Congress is when and whether to address the “fiscal cliff,” a set of tax increases and spending cuts that would substantially reduce the deficit in 2013. In projections made in March 2012 by the Congressional Budget Office (CBO), this fiscal restraint, constituting 5.1% of ...
... A major policy concern for Congress is when and whether to address the “fiscal cliff,” a set of tax increases and spending cuts that would substantially reduce the deficit in 2013. In projections made in March 2012 by the Congressional Budget Office (CBO), this fiscal restraint, constituting 5.1% of ...
implications of recent federal personal income tax increases for
... Scholars of this literature widely believe that the degree of federal personal income tax evasion in the economy as a whole is positively affected by income tax rates.4 This perspective is simple: the higher the income tax rate, the greater the benefit (in terms of a reduced tax liability) from not ...
... Scholars of this literature widely believe that the degree of federal personal income tax evasion in the economy as a whole is positively affected by income tax rates.4 This perspective is simple: the higher the income tax rate, the greater the benefit (in terms of a reduced tax liability) from not ...
The macroeconomic impact of the Swiss Corporate Tax
... result is impressive: All in all, successful implementation of CTR III directly will safeguard an estimated CHF 91 billion with respect to around 7,000 companies included in the analysis. These companies consist either of highly mobile enterprises or big companies active in the high-tech and cutting ...
... result is impressive: All in all, successful implementation of CTR III directly will safeguard an estimated CHF 91 billion with respect to around 7,000 companies included in the analysis. These companies consist either of highly mobile enterprises or big companies active in the high-tech and cutting ...
Reaganomics - World of Teaching
... Reeves, Richard. President Reagan: The Triumph of Imagination. New ...
... Reeves, Richard. President Reagan: The Triumph of Imagination. New ...
The Calculation of Cyclically Adjusted Balances at
... Currently, Banco de Portugal calculation of the cyclically adjusted general government balance, regularly made public in the Economic Bulletin and in the Annual Report, is based on the methodology agreed in the ESCB in 2001 (see Bouthevillain et al. (2001) and Neves and Sarmento (2001)). This method ...
... Currently, Banco de Portugal calculation of the cyclically adjusted general government balance, regularly made public in the Economic Bulletin and in the Annual Report, is based on the methodology agreed in the ESCB in 2001 (see Bouthevillain et al. (2001) and Neves and Sarmento (2001)). This method ...
Slides 1
... of International Economics 68, 24–37. Ruf, M., Weichenrieder, A., 2012. The Taxation of Passive Foreign Investment Lessons from German Experience. Canadian Journal of Economics, forthcoming Schön, W., 2005. Playing di¤erent games? Regulatory competition in tax and company law compared. ...
... of International Economics 68, 24–37. Ruf, M., Weichenrieder, A., 2012. The Taxation of Passive Foreign Investment Lessons from German Experience. Canadian Journal of Economics, forthcoming Schön, W., 2005. Playing di¤erent games? Regulatory competition in tax and company law compared. ...
economic crisis and taxation in europe
... European countries 15 , the financing of investments through debt is cheaper from the fiscal point of view than through retained earnings and/or new equities (for the latest analysis of this question, see, for all: Huinzaga et al., 2008). One consequence is the substantial leverage which characteriz ...
... European countries 15 , the financing of investments through debt is cheaper from the fiscal point of view than through retained earnings and/or new equities (for the latest analysis of this question, see, for all: Huinzaga et al., 2008). One consequence is the substantial leverage which characteriz ...
GROWTH Time to for
... most of the increase in the percentage share of taxes of this type occurred in the 1990s, as a result of reforms that expanded the tax base and raised the general rate, particularly in the countries with the lowest tax burdens. The growing significance of VAT made up for the reduction in the relativ ...
... most of the increase in the percentage share of taxes of this type occurred in the 1990s, as a result of reforms that expanded the tax base and raised the general rate, particularly in the countries with the lowest tax burdens. The growing significance of VAT made up for the reduction in the relativ ...
Can Progressive Taxation Contribute to Economic Development?
... their borders to international capital inflows to reduce domestic financial constraints, but capital account liberalization often sparks a wave of speculative financing, resulting in economic volatility with serious ramifications especially for a country’s poor. One option to resolve this dilemma ma ...
... their borders to international capital inflows to reduce domestic financial constraints, but capital account liberalization often sparks a wave of speculative financing, resulting in economic volatility with serious ramifications especially for a country’s poor. One option to resolve this dilemma ma ...
Chapter 15
... – Because of automatic stabilizers, the government budget deficit rises in recessions and falls in booms • The full-employment deficit is a measure of what the government budget deficit would be if the economy were at full employment • So the full-employment deficit doesn’t change with the business ...
... – Because of automatic stabilizers, the government budget deficit rises in recessions and falls in booms • The full-employment deficit is a measure of what the government budget deficit would be if the economy were at full employment • So the full-employment deficit doesn’t change with the business ...
budget highlights - Singapore Budget 2017
... GDP growth is expected to range between -2.0% and -5.0% in 2009, with inflation expected to be between 0% and -1.0%. Based on these forecasts, Operating Revenue for FY2009 is projected at $33.4 billion, a significant decrease of $7.1 billion (or 17.5% lower) over the revised FY2008 estimates. FY2009 ...
... GDP growth is expected to range between -2.0% and -5.0% in 2009, with inflation expected to be between 0% and -1.0%. Based on these forecasts, Operating Revenue for FY2009 is projected at $33.4 billion, a significant decrease of $7.1 billion (or 17.5% lower) over the revised FY2008 estimates. FY2009 ...
6. P F ublic inance
... measures in September 2012 and January 2013 and regular payments by BOTAŞ on overdue liabilities. Accordingly, the increase in consumption-based indirect tax revenues was noteworthy in 2013. During this period, SCT revenues surged by 19.2 percent on account of the rising SCT revenues on oil and natu ...
... measures in September 2012 and January 2013 and regular payments by BOTAŞ on overdue liabilities. Accordingly, the increase in consumption-based indirect tax revenues was noteworthy in 2013. During this period, SCT revenues surged by 19.2 percent on account of the rising SCT revenues on oil and natu ...
Supply-side economics
Supply-side economics is a school of macroeconomics which argues that economic growth can be most effectively created by investing in capital, and by lowering barriers on the production of goods and services. According to supply-side economics, consumers will then benefit from a greater supply of goods and services at lower prices; furthermore, the investment and expansion of businesses will increase the demand for employees and therefore create jobs. Typical policy recommendations of supply-side economists are lower marginal tax rates and less regulation.The term ""supply-side economics"" was thought, for some time, to have been coined by journalist Jude Wanniski in 1975, but according to Robert D. Atkinson's Supply-Side Follies, the term ""supply side"" (""supply-side fiscalists"") was first used by Herbert Stein, a former economic adviser to President Nixon, in 1976, and only later that year was this term repeated by Jude Wanniski. Its use connotes the ideas of economists Robert Mundell and Arthur Laffer. Supply-side economics is likened by critics to ""trickle-down economics,"" a rhetorical term which is not an economic theory.The Laffer curve illustrates a central theory of supply-side economics, that lowering tax rates may have a positive impact on work, output, and employment and generate more government revenue than would otherwise be expected at the lower tax rate due to the tax cut's economic effect. However, the Laffer curve only measures the rate of taxation, not tax incidence, which is a stronger predictor of whether a tax code change is stimulative or dampening. In addition, studies have shown that tax cuts seldom recoup revenue losses and have minimal impact on GDP growth.