Fiscal Policy Evolution and Distributional Implications: The Indonesian experience
... III: Fiscal Stance and Fiscal Policy Reforms As we saw, fiscal consolidation was one of the core economic objectives in Indonesia from the late 1990s onwards under the IMF loan conditionalities. The government thus had undertaken sweeping reforms, many of which affected government’s revenue mobilisa ...
... III: Fiscal Stance and Fiscal Policy Reforms As we saw, fiscal consolidation was one of the core economic objectives in Indonesia from the late 1990s onwards under the IMF loan conditionalities. The government thus had undertaken sweeping reforms, many of which affected government’s revenue mobilisa ...
NBER WORKING PAPER SERIES TAX MULTIPLIERS: PITFALLS IN MEASUREMENT AND IDENTIFICATION Daniel Riera-Crichton
... 2. Another strand of the literature has developed around the so-called natural experiment approach. This identi cation strategy assumes that some exogenous changes in scal policy are, in fact, observable. On the spending side, studies have typically focused on particular spending categories, suc ...
... 2. Another strand of the literature has developed around the so-called natural experiment approach. This identi cation strategy assumes that some exogenous changes in scal policy are, in fact, observable. On the spending side, studies have typically focused on particular spending categories, suc ...
Redistributive Policies for Sustainable Development
... of economics as the study of political economy, but concerns for equity where progressively eclipsed by the objective of promoting economic growth following influential work by Kuznets (1955). Based on short data series about the United States, Kuznets assumed that market forces would first increase ...
... of economics as the study of political economy, but concerns for equity where progressively eclipsed by the objective of promoting economic growth following influential work by Kuznets (1955). Based on short data series about the United States, Kuznets assumed that market forces would first increase ...
Government Spending on Education, Human Capital
... operating in Benin. As cited by a World Bank (2009a) report, expanding enrollment and quality of post-primary education is critical if Benin is to scale up its small scale processing, manufacturing and service sectors, and improve productivity. In addition, despite notable improvements in decreas ...
... operating in Benin. As cited by a World Bank (2009a) report, expanding enrollment and quality of post-primary education is critical if Benin is to scale up its small scale processing, manufacturing and service sectors, and improve productivity. In addition, despite notable improvements in decreas ...
NBER WORKING PAPER SERIES A QUANTITATIVE ANALYSIS OF TAX COMPETITION
... the long-run benefit of higher output and higher consumption that results from more efficient taxation (see Chamley (1981) and Lucas (1990)). In a world with open capital markets, however, the ability to borrow from abroad reduces the transition costs and shifts some of the burden of adjustment onto ...
... the long-run benefit of higher output and higher consumption that results from more efficient taxation (see Chamley (1981) and Lucas (1990)). In a world with open capital markets, however, the ability to borrow from abroad reduces the transition costs and shifts some of the burden of adjustment onto ...
Fiscal Decentralization Indicators
... See note on “Fiscal Decentralization Indicators: Strengths and Weaknesses” ...
... See note on “Fiscal Decentralization Indicators: Strengths and Weaknesses” ...
Fiscal Policy, Past and Present - University of California, Berkeley
... unadjusted state and local budget deficits since the late ‘70s, along with a comparable series of high-employment state and local surpluses, both divided by potential GDP.6 Whereas the cyclical adjustment explains essentially all of the budget deficits of the 1990-91 recession—and more than all of ...
... unadjusted state and local budget deficits since the late ‘70s, along with a comparable series of high-employment state and local surpluses, both divided by potential GDP.6 Whereas the cyclical adjustment explains essentially all of the budget deficits of the 1990-91 recession—and more than all of ...
Rwanda - Domestic Resource Mobilization for Poverty Reduction in
... capacity to cope with the challenges of development management. The economic crisis of the mid-1980s, followed by genocide and war in the 1990s served to further undermine the limited progress that had been made (Rugumamu and Gbla, 2003). The 1994 genocide did not only result in the unprecedented lo ...
... capacity to cope with the challenges of development management. The economic crisis of the mid-1980s, followed by genocide and war in the 1990s served to further undermine the limited progress that had been made (Rugumamu and Gbla, 2003). The 1994 genocide did not only result in the unprecedented lo ...
Stone2eCT_CH10_Mac_Layout 1
... Q: At equilibrium, what is the relation between injections and withdrawals? A: When fiscal policy is added to our model of the economy, equilibrium is achieved when government spending plus business investment plus exports (injections into the economy) equal saving plus taxes plus imports (withdrawa ...
... Q: At equilibrium, what is the relation between injections and withdrawals? A: When fiscal policy is added to our model of the economy, equilibrium is achieved when government spending plus business investment plus exports (injections into the economy) equal saving plus taxes plus imports (withdrawa ...
Local Tax Reform in Kyrgyz Republic
... transition3. The available evidence suggests that the scope, speed, and stability of economic reforms, including tax policy and administration reforms, significantly influenced the ability of CITs to reestablish economic growth during the transition.4 While the public finance system in the Kyrgyz Re ...
... transition3. The available evidence suggests that the scope, speed, and stability of economic reforms, including tax policy and administration reforms, significantly influenced the ability of CITs to reestablish economic growth during the transition.4 While the public finance system in the Kyrgyz Re ...
CEDA Committee for Economic Development of
... than five times the level it had reached when the long expansion began at the end of 1991. Even today, with sharply lower commodity prices than a few years ago and falling investment in mining, Australia’s output growth is still above that of most other advanced economies, and not far below Australi ...
... than five times the level it had reached when the long expansion began at the end of 1991. Even today, with sharply lower commodity prices than a few years ago and falling investment in mining, Australia’s output growth is still above that of most other advanced economies, and not far below Australi ...
86 ESCAP PHOTO
... Subsidies on fuel and energy are inefficient and primarily benefit the non-poor. Furthermore, they inherently encourage wastage, and energy subsidies result in fuel-intensive production. Yet, removing or reducing subsidies is politically difficult; in many countries the removal of fuel and energy su ...
... Subsidies on fuel and energy are inefficient and primarily benefit the non-poor. Furthermore, they inherently encourage wastage, and energy subsidies result in fuel-intensive production. Yet, removing or reducing subsidies is politically difficult; in many countries the removal of fuel and energy su ...
english,
... financing fiscal deficit, inflation was a logical consequence. The stabilization programme that started in 1923 did not succeed in stopping the expansion of the public expenditures, and the inflationary finance partly continued even after the central bank became independent from the state. Namely, t ...
... financing fiscal deficit, inflation was a logical consequence. The stabilization programme that started in 1923 did not succeed in stopping the expansion of the public expenditures, and the inflationary finance partly continued even after the central bank became independent from the state. Namely, t ...
PDF - unu-wider - United Nations University
... is strongly linked with that concerning the state’s fiscal capacity. Besley and Persson (2013) analyse the economic and political determinants of states’ capacity to support markets and levy taxes. They develop a framework where tax rates are the result of endogenous policy choices, which are, howev ...
... is strongly linked with that concerning the state’s fiscal capacity. Besley and Persson (2013) analyse the economic and political determinants of states’ capacity to support markets and levy taxes. They develop a framework where tax rates are the result of endogenous policy choices, which are, howev ...
RTF 39.0 KB - Productivity Commission
... combined revenue from the two sources was about $1,655 million or just over 53% of total local government revenue. In 2005-06, revenue from Rates and fees and charges (sale of goods and services) accounted for an estimated 69% of local government revenue. It would appear that while rates have declin ...
... combined revenue from the two sources was about $1,655 million or just over 53% of total local government revenue. In 2005-06, revenue from Rates and fees and charges (sale of goods and services) accounted for an estimated 69% of local government revenue. It would appear that while rates have declin ...
Direct taxes and economic growth in Kenya
... while to others; tax is seen as a necessary evil, to support the state and its activities. Depending on the side one is, this all depends on the benefit one derives from the tax system that is the net of tax payments over the respective benefits earned from the taxes they pay. Just like many other e ...
... while to others; tax is seen as a necessary evil, to support the state and its activities. Depending on the side one is, this all depends on the benefit one derives from the tax system that is the net of tax payments over the respective benefits earned from the taxes they pay. Just like many other e ...
Assessing US Corporate Tax Reform in an Age of Global
... corporate taxes impacts shareholders most immediately because it directly reduces company profits and therefore both the value of the company and the amount of dividends that it can pay out to owners. But this is not likely to be the end of the story. Over time, the corporation may try to pass some ...
... corporate taxes impacts shareholders most immediately because it directly reduces company profits and therefore both the value of the company and the amount of dividends that it can pay out to owners. But this is not likely to be the end of the story. Over time, the corporation may try to pass some ...
Top-down vs. bottom-up? Reconciling the effects
... elasticities as identifying restrictions. We find that using our rich narrative dataset for net-revenue changes within the MR specification yields multipliers of about 0.5 for Germany on impact and decreasing slowly within a time horizon of five years. This is much lower than other bottom-up estimates, ...
... elasticities as identifying restrictions. We find that using our rich narrative dataset for net-revenue changes within the MR specification yields multipliers of about 0.5 for Germany on impact and decreasing slowly within a time horizon of five years. This is much lower than other bottom-up estimates, ...
Foreign Aid and Revenue: Still a Crowding Out Effect?
... framework of the fiscal response model developed by Heller (1975) and its subsequent extensions. The model features, in its most basic form, a benevolent government minimizing a loss function subject to targets (on economic growth or welfare, for example) and a budget constraint which includes aid. ...
... framework of the fiscal response model developed by Heller (1975) and its subsequent extensions. The model features, in its most basic form, a benevolent government minimizing a loss function subject to targets (on economic growth or welfare, for example) and a budget constraint which includes aid. ...
Culture of corruption,tax evasion and optimal tax policy
... corruption reduces the fraction of capital budgets that are actually invested. In our model less than half of the capital budget is invested. With much higher tax rates and much lower public investment one might expect a larger decline in output than 22 percent. However, tax evasion is also high, 33 ...
... corruption reduces the fraction of capital budgets that are actually invested. In our model less than half of the capital budget is invested. With much higher tax rates and much lower public investment one might expect a larger decline in output than 22 percent. However, tax evasion is also high, 33 ...
Principles of Economics, Case and Fair,9e
... Milton Friedman has been the leading spokesman for monetarism over the last few decades. Most monetarists do not advocate an activist monetary policy stabilization. ...
... Milton Friedman has been the leading spokesman for monetarism over the last few decades. Most monetarists do not advocate an activist monetary policy stabilization. ...
Macroeconomic Effects from Government Purchases and Taxes
... linkage between economic conditions and war probability.) ...
... linkage between economic conditions and war probability.) ...
If, When, How: A Primer on Fiscal Stimulus
... Feldstein and Lawrence Summers, have argued that monetary policy and the automatic fiscal stabilizers may be insufficient in the current situation and that further fiscal stimulus may be necessary. Such stimulus could include legislated tax cuts or spending increases designed to give a quick boost t ...
... Feldstein and Lawrence Summers, have argued that monetary policy and the automatic fiscal stabilizers may be insufficient in the current situation and that further fiscal stimulus may be necessary. Such stimulus could include legislated tax cuts or spending increases designed to give a quick boost t ...
the reagan era tax policies
... percent. The excess five or six percent tax increase was a rise in real, inflation-adjusted revenue, rewarding Washington for letting inflation continue. Average tax rates were held down to some extent by several legislated increases in personal exemptions and standard deductions, but after-tax wage ...
... percent. The excess five or six percent tax increase was a rise in real, inflation-adjusted revenue, rewarding Washington for letting inflation continue. Average tax rates were held down to some extent by several legislated increases in personal exemptions and standard deductions, but after-tax wage ...
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.