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 ...
NBER WORKING PAPER SERIES THE RICARDIAN APPROACH TO BUDGET DEFICITS
... during the remaining lifetimes of people currently alive. However, the quantitative effects on consumption tend to be small. For example, for someone with 30 years of remaining life who consumes at a constant rate, a one-time budget deficit of 81 would increase real consumption demand by 1.4 cents p ...
... during the remaining lifetimes of people currently alive. However, the quantitative effects on consumption tend to be small. For example, for someone with 30 years of remaining life who consumes at a constant rate, a one-time budget deficit of 81 would increase real consumption demand by 1.4 cents p ...
HOW BIG IS THE FEDERAL GOVERNMENT? ABSTRACT Donald Marron and Eric Toder
... Any effort to measure the size of government must address three issues. The first is deciding which government activities to include. The federal government collects tax revenues, provides goods and services not produced by the private sector, engages in commercial-type activities, makes cash and in ...
... Any effort to measure the size of government must address three issues. The first is deciding which government activities to include. The federal government collects tax revenues, provides goods and services not produced by the private sector, engages in commercial-type activities, makes cash and in ...
PDF
... rents, and details of current taxation, both general taxation and special additional taxes on mining. Efficiency and equity arguments for special additional taxation of the economic rents earned by the mining industry are presented in Section 3. As argued by Brown (1948), Garnaut and Clunnies-Ross ( ...
... rents, and details of current taxation, both general taxation and special additional taxes on mining. Efficiency and equity arguments for special additional taxation of the economic rents earned by the mining industry are presented in Section 3. As argued by Brown (1948), Garnaut and Clunnies-Ross ( ...
fiscal policy
... rebate checks from the government. According to conventional economic theory, a permanent cut in taxes should largely be spent by households because it represents a new permanent source of income for them. To discover whether households actually spent the tax cuts, professors Matthew Shapiro and Joe ...
... rebate checks from the government. According to conventional economic theory, a permanent cut in taxes should largely be spent by households because it represents a new permanent source of income for them. To discover whether households actually spent the tax cuts, professors Matthew Shapiro and Joe ...
5 Zimbabwe - Keio University
... stabilization efforts. These drawbacks included shrinkage of the economy by over 40%, a decade-long high inflation which spiraled out of control to unprecedented levels of over 231 million percent by July 2008, severe capacity underutilization of below 10%, and subsequent shortage of basic commoditi ...
... stabilization efforts. These drawbacks included shrinkage of the economy by over 40%, a decade-long high inflation which spiraled out of control to unprecedented levels of over 231 million percent by July 2008, severe capacity underutilization of below 10%, and subsequent shortage of basic commoditi ...
Fiscal policy and saving under distortionary taxation
... consumption tax has an upward trend, which, for the reason mentioned above was interrupted in 1981, and has accelerated since then. This trend is due to the introduction of a value-added tax in 1976, which is levied only on consumption production, following its adoption in European countries. This e ...
... consumption tax has an upward trend, which, for the reason mentioned above was interrupted in 1981, and has accelerated since then. This trend is due to the introduction of a value-added tax in 1976, which is levied only on consumption production, following its adoption in European countries. This e ...
Is There a Role for Discretionary Fiscal Policy?
... Finally, as has long been noted, changes in particular components of the surplus—most obviously, changes in spending as opposed to changes in revenues—should have different effects on aggregate demand. Thus, the change in the deficit, even cyclically adjusted, is inadequate to convey the magnitude ...
... Finally, as has long been noted, changes in particular components of the surplus—most obviously, changes in spending as opposed to changes in revenues—should have different effects on aggregate demand. Thus, the change in the deficit, even cyclically adjusted, is inadequate to convey the magnitude ...
The Federal Fiscal Outlook No. 04-2
... Future Federal Budget Deficits Depend on Policy Choices Chart 1 shows the Congressional Budget Office’s (CBO) baseline federal budget deficit projections for fiscal years 2003-2014, along with three sets of deficit forecasts from Global Insight (formerly DRI). The CBO baseline assumes that current t ...
... Future Federal Budget Deficits Depend on Policy Choices Chart 1 shows the Congressional Budget Office’s (CBO) baseline federal budget deficit projections for fiscal years 2003-2014, along with three sets of deficit forecasts from Global Insight (formerly DRI). The CBO baseline assumes that current t ...
What Fiscal Policy Is Effective at Zero Interest Rates?
... income (see, e.g., Hall and Woodward (2008), Bils and Klenow (2008), and Mankiw (2008)) or tax cuts on capital (see, e.g., Feldstein (2009) and Barro (2009)). Others emphasized an increase in government spending (see, e.g., Krugman (2009) and De Long (2008)). Yet another group of economists argued t ...
... income (see, e.g., Hall and Woodward (2008), Bils and Klenow (2008), and Mankiw (2008)) or tax cuts on capital (see, e.g., Feldstein (2009) and Barro (2009)). Others emphasized an increase in government spending (see, e.g., Krugman (2009) and De Long (2008)). Yet another group of economists argued t ...
Weathering the storm Zambia’s 2016 National Budget
... the strengthening of the US Dollar against other currencies. The US Federal Reserve recently maintained its current rate of interest. However, should rates be increased in the future, this may further impact the Kwacha’s strength. In addition, most large infrastructure projects in Zambia are current ...
... the strengthening of the US Dollar against other currencies. The US Federal Reserve recently maintained its current rate of interest. However, should rates be increased in the future, this may further impact the Kwacha’s strength. In addition, most large infrastructure projects in Zambia are current ...
Chapter 12 Government and Fiscal Policy
... to households--up to $600 for individuals and $1,200 for couples--and over $50 billion in tax breaks for businesses. The boost to aggregate demand seemed slight--consumers saved much of their rebate money. In November 2008, unemployment insurance benefits were extended for seven additional weeks, in ...
... to households--up to $600 for individuals and $1,200 for couples--and over $50 billion in tax breaks for businesses. The boost to aggregate demand seemed slight--consumers saved much of their rebate money. In November 2008, unemployment insurance benefits were extended for seven additional weeks, in ...
Revisiting the Case for a Tobin Tax Post Asian Crisis
... prominent example in this regard (Ishii et al., 2001). The IMF has been fairly supportive of such unilateral actions to restrain international financial flows. For instance, a recent study on offshore trading of foreign currencies has in fact concluded that measures to limit the offshore trading of ...
... prominent example in this regard (Ishii et al., 2001). The IMF has been fairly supportive of such unilateral actions to restrain international financial flows. For instance, a recent study on offshore trading of foreign currencies has in fact concluded that measures to limit the offshore trading of ...
Corporation Tax - Centre for Policy Studies
... www.hmrc.gov.uk/stats/tax_expenditures/table16.pdf. Note that this table shows the revenue gained from each percentage point increase in tax. However discussions with Treasury officials have confirmed that they estimate that a decrease in the tax rate has an equal impact on reducing revenue. Note th ...
... www.hmrc.gov.uk/stats/tax_expenditures/table16.pdf. Note that this table shows the revenue gained from each percentage point increase in tax. However discussions with Treasury officials have confirmed that they estimate that a decrease in the tax rate has an equal impact on reducing revenue. Note th ...
THE DECLINE OF CORPORATE INCOME TAX REVENUES By Joel
... Long-term Decline in Corporate Revenues Other recent analyses have examined the stunning deterioration in the budget outlook, as well as the large, persistent deficits that now loom as far as the eye can see and that will swell further as the baby boom generation retires. In this analysis, we seek t ...
... Long-term Decline in Corporate Revenues Other recent analyses have examined the stunning deterioration in the budget outlook, as well as the large, persistent deficits that now loom as far as the eye can see and that will swell further as the baby boom generation retires. In this analysis, we seek t ...
Taxes - University at Buffalo
... United States than in nations such as Sweden and Denmark.10 Countries achieving the most redistribution do so mainly via transfers. And they do so with a large volume of transfers, rather than with transfers that are heavily targeted to the poor.11 In order to transfer large quantities of income, a ...
... United States than in nations such as Sweden and Denmark.10 Countries achieving the most redistribution do so mainly via transfers. And they do so with a large volume of transfers, rather than with transfers that are heavily targeted to the poor.11 In order to transfer large quantities of income, a ...
The Left`s Dubious History of Income Inequality
... This section of the budget went on to cite research by economists Thomas Piketty and Emmanuel Saez of a few years earlier as the basis of these calculations. It was Piketty and Saez who had first developed the concept of the “top 1%.” Prior to their research, the convention was to measure income sha ...
... This section of the budget went on to cite research by economists Thomas Piketty and Emmanuel Saez of a few years earlier as the basis of these calculations. It was Piketty and Saez who had first developed the concept of the “top 1%.” Prior to their research, the convention was to measure income sha ...
Demographic Change and Fiscal Sustainability in Asia
... because Korea still devotes a relatively large share of government spending to public investment and economic infrastructure rather than social welfare related spending. Hence Korea is less likely to be affected by population aging if we hold the profiles constant, compared with other OECD countries ...
... because Korea still devotes a relatively large share of government spending to public investment and economic infrastructure rather than social welfare related spending. Hence Korea is less likely to be affected by population aging if we hold the profiles constant, compared with other OECD countries ...
NBER WORKING PAPER SERIES NON-LINEAR EFFECTS OF TAXATION ON GROWTH Nir Jaimovich
... in attributing high growth rates to good policies, such as low tax rates. In recent work, Romer and Romer (2010, 2014) use the “narrative record” on the motivation of tax policy changes in the post-war period to identify changes that are exogenous, in the sense that they are not a response to the g ...
... in attributing high growth rates to good policies, such as low tax rates. In recent work, Romer and Romer (2010, 2014) use the “narrative record” on the motivation of tax policy changes in the post-war period to identify changes that are exogenous, in the sense that they are not a response to the g ...
125 - Research portal
... that a double weak dividend is also likely to exist, but there is a controversial debate about the strong double dividend and the employment double dividend. The theoretical literature has not obtained clear-cut conclusions so far, but it suggests that the possibility to obtain a double dividend is ...
... that a double weak dividend is also likely to exist, but there is a controversial debate about the strong double dividend and the employment double dividend. The theoretical literature has not obtained clear-cut conclusions so far, but it suggests that the possibility to obtain a double dividend is ...
Economic Democratization and Tax Reform
... the community, formed of families and local neighbors, where everyone is an equal member. Here, the fundamental is co-existence and cooperation. As a result, interpreting the concept of democratization from one aspect will only hinder us in solving the problems we face in reality. Capitalist market ...
... the community, formed of families and local neighbors, where everyone is an equal member. Here, the fundamental is co-existence and cooperation. As a result, interpreting the concept of democratization from one aspect will only hinder us in solving the problems we face in reality. Capitalist market ...
Tax Burden in China
... The studies using US data are confirmed by numerous international studies. For example, speaking of government taxation, a Spanish economist (de la Fuente 1997) concludes that ‘there is evidence of a sizable negative externality effect on the level of productivity’. Italian economists Tabellini and ...
... The studies using US data are confirmed by numerous international studies. For example, speaking of government taxation, a Spanish economist (de la Fuente 1997) concludes that ‘there is evidence of a sizable negative externality effect on the level of productivity’. Italian economists Tabellini and ...
Direct or indirect tax instruments for redistribution: short
... assumption is relaxed. The Atkinson – Stiglitz theorem is valid without labor types observability but not when the perfect substitution of labor types assumption is relaxed. Naito’s (1999) contribution is also important because it gives a clear sense of how the indirect tax instruments should be use ...
... assumption is relaxed. The Atkinson – Stiglitz theorem is valid without labor types observability but not when the perfect substitution of labor types assumption is relaxed. Naito’s (1999) contribution is also important because it gives a clear sense of how the indirect tax instruments should be use ...
WA Iron Ore Royalty Analysis - Minerals Council of Australia
... Economists have long known that taxes create distortions that hurt the economy – that each dollar of revenue raised comes with a cost. Economists also know that some taxes generate more harm than others 2. This understanding has underpinned previous periods of tax reform, and it forms much of the na ...
... Economists have long known that taxes create distortions that hurt the economy – that each dollar of revenue raised comes with a cost. Economists also know that some taxes generate more harm than others 2. This understanding has underpinned previous periods of tax reform, and it forms much of the na ...
The Changing Composition of Tax Incentives
... Over the past twenty years, total tax expenditures as a percentage of GDP have increased slightly (Chart 1). But the bigger story is the change in the composition of tax expenditures. Social tax expenditures as a percentage of GDP have increased by over 40 percent between 1980 and 1999, while, over ...
... Over the past twenty years, total tax expenditures as a percentage of GDP have increased slightly (Chart 1). But the bigger story is the change in the composition of tax expenditures. Social tax expenditures as a percentage of GDP have increased by over 40 percent between 1980 and 1999, while, over ...
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.