Chapter 3 R : T
... The overall resources of the Union Government comprise of revenue and capital (debt and non-debt receipts as well as accruals in public account) receipts. Notwithstanding the inter year variations in the growth of various components over a longer term (1992-2008), the ratio between the debt receipts ...
... The overall resources of the Union Government comprise of revenue and capital (debt and non-debt receipts as well as accruals in public account) receipts. Notwithstanding the inter year variations in the growth of various components over a longer term (1992-2008), the ratio between the debt receipts ...
Tax multipliers: Pitfalls in measurement and identification"
... $3. In contrast, de…cit-driven tax hikes have a weak positive e¤ect on GDP. While RR caution about the estimates’precision, they suggest that this di¤erence across exogenous motivations might re‡ect that augmenting taxes to reduce an inherited de…cit may be less costly than other tax increases. In a ...
... $3. In contrast, de…cit-driven tax hikes have a weak positive e¤ect on GDP. While RR caution about the estimates’precision, they suggest that this di¤erence across exogenous motivations might re‡ect that augmenting taxes to reduce an inherited de…cit may be less costly than other tax increases. In a ...
Recent Local Financial System Reform (Trinity Reform)
... treasury subsidies and replacing them with general revenue sources such as local taxes and local allocation tax; ②simplifying conditions for subsidies and grant procedures; and ③eliminating the “extra financial burden” that local governments have to pay because the criteria for calculating national ...
... treasury subsidies and replacing them with general revenue sources such as local taxes and local allocation tax; ②simplifying conditions for subsidies and grant procedures; and ③eliminating the “extra financial burden” that local governments have to pay because the criteria for calculating national ...
Democratisation and tax structure: Greece versus Europe from a
... This paper focuses mainly on the effects of democratisation on the size and the composition of tax revenues in Greece during the 19th and the beginning of the 20th centuries. Our analysis builds on a unique tax dataset that contains 13 different tax categories of the Greek state over the period 1833 ...
... This paper focuses mainly on the effects of democratisation on the size and the composition of tax revenues in Greece during the 19th and the beginning of the 20th centuries. Our analysis builds on a unique tax dataset that contains 13 different tax categories of the Greek state over the period 1833 ...
2016 Budget Highlights “Consolidating Progress Towards A
... broadly moved away from imposing any major taxes but rather focused on tightening tax policies to streamline exemptions and avoid revenue leakages. Will maximising revenue collection be sufficient to reduce the Budget deficit and consolidate progress towards economic transformation in the Medium Ter ...
... broadly moved away from imposing any major taxes but rather focused on tightening tax policies to streamline exemptions and avoid revenue leakages. Will maximising revenue collection be sufficient to reduce the Budget deficit and consolidate progress towards economic transformation in the Medium Ter ...
An Economic Evaluation of the Economic Growth and
... comes just after a twenty-year period when pre- and post-tax income became significantly less equal. Two additional factors suggest that the tax cut may prove to be even more regressive than conventional analysis suggests. Resolution of the AMT problem may generate further tax cuts for high-income h ...
... comes just after a twenty-year period when pre- and post-tax income became significantly less equal. Two additional factors suggest that the tax cut may prove to be even more regressive than conventional analysis suggests. Resolution of the AMT problem may generate further tax cuts for high-income h ...
Tax Revenue As An Automatic· Fiscal Stabiliser
... reversed movements during expansions. These changes in the budget balance that are induced by cyclical fluctuations, in turn have a ~tabilising influence on economic activity. These budgetary automatic stabilisers contribute to a stimulation of the economy in a period of recessipn and exert a dampen ...
... reversed movements during expansions. These changes in the budget balance that are induced by cyclical fluctuations, in turn have a ~tabilising influence on economic activity. These budgetary automatic stabilisers contribute to a stimulation of the economy in a period of recessipn and exert a dampen ...
On the Superiority of Corrective Taxes to Quantity Regulation
... Center for Law, Economics, and Business at Harvard Law School for financial support. Send correspondence to: Louis Kaplow, Harvard Law School, HA 322, Cambridge, ...
... Center for Law, Economics, and Business at Harvard Law School for financial support. Send correspondence to: Louis Kaplow, Harvard Law School, HA 322, Cambridge, ...
Structural Budget Balance and Fiscal Stance in Turkey Cem Çebi Ümit Özlale
... aggregating these estimates. Bouthevillain et al. (2001) adopted this approach in their study for the European Central Bank. Based on this approach, Debrun (2006) uses econometric methods in calculating tax revenue elasticity, while Girouard and André (2005), also known as the OECD method, estimates ...
... aggregating these estimates. Bouthevillain et al. (2001) adopted this approach in their study for the European Central Bank. Based on this approach, Debrun (2006) uses econometric methods in calculating tax revenue elasticity, while Girouard and André (2005), also known as the OECD method, estimates ...
Corporate tax competition and the decline of - ECB
... stock is a puzzle. Bénassy-Quéré, Gobalraja, and Trannoy (2007), among others, show for instance that the location of multinational firms does not entirely depend on national tax policies but also on ‘public infrastructure’, partly because of its positive effect of the productivity of private capi ...
... stock is a puzzle. Bénassy-Quéré, Gobalraja, and Trannoy (2007), among others, show for instance that the location of multinational firms does not entirely depend on national tax policies but also on ‘public infrastructure’, partly because of its positive effect of the productivity of private capi ...
Fiscal Federalism, Fiscal Reform, and Economic Growth in China
... In 1994, after a period of substantial fiscal decentralization that has been credited with leading to historically unprecedented growth rates but significant fiscal decline, China introduced a new fiscal system that recentralized the collection of tax revenues. The economic and political consequence ...
... In 1994, after a period of substantial fiscal decentralization that has been credited with leading to historically unprecedented growth rates but significant fiscal decline, China introduced a new fiscal system that recentralized the collection of tax revenues. The economic and political consequence ...
economic consequences of the tax policies of the george hw bush
... affected and the change in GDP ($1.1 billion out of $6.3 trillion) makes the effect too small to be reliable. ! Expansion of the EITC. The EITC increase reduced GDP by about 0.1 percent (Table 5). The more generous EITC produced an estimated static revenue loss of $6.9 billion and cost a further $1. ...
... affected and the change in GDP ($1.1 billion out of $6.3 trillion) makes the effect too small to be reliable. ! Expansion of the EITC. The EITC increase reduced GDP by about 0.1 percent (Table 5). The more generous EITC produced an estimated static revenue loss of $6.9 billion and cost a further $1. ...
Official PDF , 52 pages
... taxation to development. 3 The G-20, multilateral institutions, and the donor community want to ensure that their assistance to developing countries to reinforce their tax systems is effective, coherent, and well harmonized (OECD, 2011). Tax systems exert a significant impact on investment decisions ...
... taxation to development. 3 The G-20, multilateral institutions, and the donor community want to ensure that their assistance to developing countries to reinforce their tax systems is effective, coherent, and well harmonized (OECD, 2011). Tax systems exert a significant impact on investment decisions ...
Tax competition in East Africa: A race to the
... Their terms often vary, but many contain, and others are believed (they have not formally been made public) to contain, fiscal “stabilisation” clauses.11 This means that the range of tax incentives provided in the individual agreements are still likely to apply even under the new Act. The tax exempt ...
... Their terms often vary, but many contain, and others are believed (they have not formally been made public) to contain, fiscal “stabilisation” clauses.11 This means that the range of tax incentives provided in the individual agreements are still likely to apply even under the new Act. The tax exempt ...
Proposal 10: Creating an American Value
... less distortionary manner than current sales taxes. Second, administrative costs, which currently exceed 3 percent of state sales tax revenue (PriceWaterhouseCoopers 2006), would decline. Many states currently link their income tax base to the federal income tax base, with obvious administrative and ...
... less distortionary manner than current sales taxes. Second, administrative costs, which currently exceed 3 percent of state sales tax revenue (PriceWaterhouseCoopers 2006), would decline. Many states currently link their income tax base to the federal income tax base, with obvious administrative and ...
Can Government Really Stabilize the Economy?
... 3. How does the classical school use the quantity theory of money equation to find the money supply growth rate that is consistent with zero inflation? • In this view, inflation occurs when the annual rate of growth in the money supply exceeds the annual rate of growth of fullemployment real GDP. Go ...
... 3. How does the classical school use the quantity theory of money equation to find the money supply growth rate that is consistent with zero inflation? • In this view, inflation occurs when the annual rate of growth in the money supply exceeds the annual rate of growth of fullemployment real GDP. Go ...
Tax Cuts For Whom? Heterogeneous E↵ects of Income ⇤ Owen Zidar
... raises output and employment. Similarly, Heathcote (2005) finds that temporary tax cuts can have large real e↵ects in simulated models with heterogeneous agents and incomplete markets. Gali, Lopez-Salido, and Valles (2007) show that macro models with some cash-on-hand agents and sticky prices do a b ...
... raises output and employment. Similarly, Heathcote (2005) finds that temporary tax cuts can have large real e↵ects in simulated models with heterogeneous agents and incomplete markets. Gali, Lopez-Salido, and Valles (2007) show that macro models with some cash-on-hand agents and sticky prices do a b ...
automatic fiscal stabilizers vs. discretionary fiscal policy
... unstable and unpredictable fiscal policies have worsened the economic and social system thus reducing the government credibility. According to some researchers, sloppy tax legislation and the arbitrariness of rulings on behalf of the tax administration can reduce drasticly the state’s credibility, b ...
... unstable and unpredictable fiscal policies have worsened the economic and social system thus reducing the government credibility. According to some researchers, sloppy tax legislation and the arbitrariness of rulings on behalf of the tax administration can reduce drasticly the state’s credibility, b ...
State Taxes and Spatial Misallocation
... existence of spatial misallocation due to forces other than the changes in state government spending that a tax harmonization could imply. We inspect how these results would vary if the weight of government spending in worker preferences and productivity was lower than what our benchmark estimates i ...
... existence of spatial misallocation due to forces other than the changes in state government spending that a tax harmonization could imply. We inspect how these results would vary if the weight of government spending in worker preferences and productivity was lower than what our benchmark estimates i ...
S2013106_en.pdf
... Republic, Peru and the Plurinational State of Bolivia have applied this type of tax but in 2010, the yield was barely over 0.2% of GDP. The total fiscal revenue of the subnational governments increased considerably in the past few years, owing mainly to transfers from the central governments and not ...
... Republic, Peru and the Plurinational State of Bolivia have applied this type of tax but in 2010, the yield was barely over 0.2% of GDP. The total fiscal revenue of the subnational governments increased considerably in the past few years, owing mainly to transfers from the central governments and not ...
Can we rely upon fiscal policy estimates in countries with unreported
... features and structural problems.” Usual disclaimers apply. For the Euro area see Perotti (2004), Biav and Girard (2005), De Castro and Hernandez De Cos (2006), Burriel et al. (2009) and Alfonso and Sousa (2009), whereas for Italy one of the few analyses is found in Giordano et al. (2007). There are ...
... features and structural problems.” Usual disclaimers apply. For the Euro area see Perotti (2004), Biav and Girard (2005), De Castro and Hernandez De Cos (2006), Burriel et al. (2009) and Alfonso and Sousa (2009), whereas for Italy one of the few analyses is found in Giordano et al. (2007). There are ...
Tax Reform and Resource Mobilization for Health
... As development assistance for health shrinks and the demand for health expenditures increases, developing countries are under mounting pressure to provide adequate resources for health. Governments can increase available public resources by benefiting from overall economic growth, borrowing, making ...
... As development assistance for health shrinks and the demand for health expenditures increases, developing countries are under mounting pressure to provide adequate resources for health. Governments can increase available public resources by benefiting from overall economic growth, borrowing, making ...
The Economic Burden Caused by Tax Code
... If the compliance costs for an income tax are minimal, then their impact on gross output will also be minimal. However, as is the case with the United States, when compliance costs compose 30 percent of the current tax receipts collected and these taxes are inefficiently collected, they represent a ...
... If the compliance costs for an income tax are minimal, then their impact on gross output will also be minimal. However, as is the case with the United States, when compliance costs compose 30 percent of the current tax receipts collected and these taxes are inefficiently collected, they represent a ...
Revenue Estimation, the Budget Balance and Fiscal Accountability
... dynamic concept, measures the extent to which tax revenue increases as the value of the tax bases increases: it is essentially a measure of the extent to which increases in income are translated without delay into increases in revenue collected. Under-estimation of the tax base, administrative gains ...
... dynamic concept, measures the extent to which tax revenue increases as the value of the tax bases increases: it is essentially a measure of the extent to which increases in income are translated without delay into increases in revenue collected. Under-estimation of the tax base, administrative gains ...
http://sticerd.lse.ac.uk/seminarpapers/pes02032016.pdf
... of public goods, higher income or sales taxes in one state are equivalent to a lower amenity level in that state, resulting in lower labor supply, lower pre-tax wages, and, firm entry. Higher corporate taxes are equivalent to lower productivity, while a change in the sales apportionment of corporat ...
... of public goods, higher income or sales taxes in one state are equivalent to a lower amenity level in that state, resulting in lower labor supply, lower pre-tax wages, and, firm entry. Higher corporate taxes are equivalent to lower productivity, while a change in the sales apportionment of corporat ...
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.