Brian Olden (IMF)
... • Initial post-crisis growth momentum looks to be slowingboth in advanced and SEE countries. • Economic recovery will be gradual when growth resumes • Increased debt levels have reduced fiscal space-even for those with relatively low levels-needs to be restored over the medium-term • Financing optio ...
... • Initial post-crisis growth momentum looks to be slowingboth in advanced and SEE countries. • Economic recovery will be gradual when growth resumes • Increased debt levels have reduced fiscal space-even for those with relatively low levels-needs to be restored over the medium-term • Financing optio ...
CHAPTER OVERVIEW
... economy. B. Political considerations: Government has other goals besides economic stability, and these may conflict with stabilization policy. 1. A political business cycle may destabilize the economy: Election years have been characterized by more expansionary policies regardless of economic condit ...
... economy. B. Political considerations: Government has other goals besides economic stability, and these may conflict with stabilization policy. 1. A political business cycle may destabilize the economy: Election years have been characterized by more expansionary policies regardless of economic condit ...
The Behavioral Model for Estimating the Laffer Fiscal Points
... country’s economic policy. Two circumstances should be taken into account when constructing an appropriate model. The first one is that, in any economy, the total output depends on the amount and quality of existing economic resources (labor, capital, land, and production capabilities) and on the le ...
... country’s economic policy. Two circumstances should be taken into account when constructing an appropriate model. The first one is that, in any economy, the total output depends on the amount and quality of existing economic resources (labor, capital, land, and production capabilities) and on the le ...
Making New Hampshire a Regional Center for Financial Services by
... many other areas. The other New England states also have 2% premium tax rates with Massachusetts a bit higher at 2.25%. Connecticut has attracted jobs with the slightly lower rate of 1.75%. By reducing its rate to 1 %, New Hampshire’s rate would be dramatically lower than that of other states in th ...
... many other areas. The other New England states also have 2% premium tax rates with Massachusetts a bit higher at 2.25%. Connecticut has attracted jobs with the slightly lower rate of 1.75%. By reducing its rate to 1 %, New Hampshire’s rate would be dramatically lower than that of other states in th ...
Fiscal Rules and Countercyclical Policy: Frank Ramsey
... policy with a GRH-like fiscal rule? Which regime would the country’s residents prefer? This paper compares a restrictive fiscal rule – a law that prohibits government beyond the minimum required to keep debt-GDP constant -- against several policy alternatives.9 Under a benchmark policy, tax rates ar ...
... policy with a GRH-like fiscal rule? Which regime would the country’s residents prefer? This paper compares a restrictive fiscal rule – a law that prohibits government beyond the minimum required to keep debt-GDP constant -- against several policy alternatives.9 Under a benchmark policy, tax rates ar ...
Illinois State University Mathematics Department
... post World War II United States). On the other hand, examples to the contrary are numerous, e.g., the luxury tax on boats introduced in the 1991 budget deal in the United States resulted in a dramatic fall of the revenues generated from taxes on such sales, as nearly the entire luxury boat industry ...
... post World War II United States). On the other hand, examples to the contrary are numerous, e.g., the luxury tax on boats introduced in the 1991 budget deal in the United States resulted in a dramatic fall of the revenues generated from taxes on such sales, as nearly the entire luxury boat industry ...
- CESifo Group Munich
... total government spending differs widely between countries (Table 1), ranging between 5 percent (Greece) and 57.8 percent (Denmark). A relatively low level of sub-national spending can be observed, apart from Greece, also in Portugal, Luxembourg and France. All other countries spend at least a quart ...
... total government spending differs widely between countries (Table 1), ranging between 5 percent (Greece) and 57.8 percent (Denmark). A relatively low level of sub-national spending can be observed, apart from Greece, also in Portugal, Luxembourg and France. All other countries spend at least a quart ...
The Entrepreneur and the Making of Tax Laws
... researchers or politicians to work on adjustments of e.g. the Swedish tax system or to start on a new footing by revising it altogether. Issues regarding the making of tax laws The making of tax laws as a matter of conveying the Government’s intended taxation to the entrepreneurs raises a number of ...
... researchers or politicians to work on adjustments of e.g. the Swedish tax system or to start on a new footing by revising it altogether. Issues regarding the making of tax laws The making of tax laws as a matter of conveying the Government’s intended taxation to the entrepreneurs raises a number of ...
Congress Should Account for the Excess Burden of
... percent. In general, this means that efficiency losses are much lower when a small tax increase is added across a wide tax base than if government raises the identical amount of tax revenue by increasing tax rates at the very top of the income scale. In the last 15 years, economists have recognized ...
... percent. In general, this means that efficiency losses are much lower when a small tax increase is added across a wide tax base than if government raises the identical amount of tax revenue by increasing tax rates at the very top of the income scale. In the last 15 years, economists have recognized ...
Demographic Change and Fiscal Sustainability in Asia
... expenditure has increased, spending on economic infrastructure and others areas has gradually decreased. Japanese-style debt financing will not be possible for most Asian governments. In addition, the increase in tax revenue and expenditure will not be solely in the hands of central government beca ...
... expenditure has increased, spending on economic infrastructure and others areas has gradually decreased. Japanese-style debt financing will not be possible for most Asian governments. In addition, the increase in tax revenue and expenditure will not be solely in the hands of central government beca ...
Comment by Jonas Agell - Government Offices of Sweden
... Some evidence on the likely magnitude of I. can be gained from the by now fairly substantial literature on the excess sensitivity of aggregate consumption. Jappelli and Pagano (1 989) report results, using data for seven countries, suggesting that current disposable income can help to explain consum ...
... Some evidence on the likely magnitude of I. can be gained from the by now fairly substantial literature on the excess sensitivity of aggregate consumption. Jappelli and Pagano (1 989) report results, using data for seven countries, suggesting that current disposable income can help to explain consum ...
THE EFFECTS OF FISCAL POLICY IN THE
... in disposable income and hence consumption, but depending on their propensity to consume. Increased consumption induces a multiple increase of national income, thus increasing employment. Therefore, in order for the fiscal policy to be effective, it is necessary to have an adequate tax structure and ...
... in disposable income and hence consumption, but depending on their propensity to consume. Increased consumption induces a multiple increase of national income, thus increasing employment. Therefore, in order for the fiscal policy to be effective, it is necessary to have an adequate tax structure and ...
Enhancing Effectiveness of Fiscal Policy
... The role of fiscal policy in developed economies is to maintain full employment and stabilize growth. In contrast, in developing countries, fiscal policy is used to create an environment for rapid economic growth. The various roles fiscal policy plays in this regard are the following: (a) Mobilisati ...
... The role of fiscal policy in developed economies is to maintain full employment and stabilize growth. In contrast, in developing countries, fiscal policy is used to create an environment for rapid economic growth. The various roles fiscal policy plays in this regard are the following: (a) Mobilisati ...
Lecture 1
... taxes are highly distorting and believe that labor supply is elastic. Some examples of workers who may respond more to incentives: Workers who can adjust the number of hours they work Families with second earners Elderly who can choose when to retire Workers in the underground economy (i.e., ...
... taxes are highly distorting and believe that labor supply is elastic. Some examples of workers who may respond more to incentives: Workers who can adjust the number of hours they work Families with second earners Elderly who can choose when to retire Workers in the underground economy (i.e., ...
THE DESIGN OF THE TAX SYSTEM
... 1. The two most important sources of tax revenue for the federal government are individual income taxes and payroll taxes (social insurance taxes). The two most important sources of tax revenue for state and local governments are sales taxes and property taxes. 2. The efficiency of a tax system depe ...
... 1. The two most important sources of tax revenue for the federal government are individual income taxes and payroll taxes (social insurance taxes). The two most important sources of tax revenue for state and local governments are sales taxes and property taxes. 2. The efficiency of a tax system depe ...
chapter outline
... 1. The two most important sources of tax revenue for the federal government are individual income taxes and payroll taxes (social insurance taxes). The two most important sources of tax revenue for state and local governments are sales taxes and property taxes. 2. The efficiency of a tax system depe ...
... 1. The two most important sources of tax revenue for the federal government are individual income taxes and payroll taxes (social insurance taxes). The two most important sources of tax revenue for state and local governments are sales taxes and property taxes. 2. The efficiency of a tax system depe ...
Chapter 6
... E-Commerce: Even During a Revenue Boom, States Seek Internet Sales Tax State governments seek to expand their sales tax ...
... E-Commerce: Even During a Revenue Boom, States Seek Internet Sales Tax State governments seek to expand their sales tax ...
Slide 1
... expenditure did not significantly distort the fiscal outturn during the review period. ...
... expenditure did not significantly distort the fiscal outturn during the review period. ...
Slide 1
... Elasticity measures how much buyers and sellers respond to changes in price, and therefore determines how much the tax distorts the market outcome. ...
... Elasticity measures how much buyers and sellers respond to changes in price, and therefore determines how much the tax distorts the market outcome. ...
Lecture 14
... of revenue for state and local government in US are consumption taxes and local property taxes. As a whole when all levels of gov are combined, the most revenue comes from income taxation, then payroll taxes, consumption taxes, then corporate income and property taxes. Compare this with Norway and D ...
... of revenue for state and local government in US are consumption taxes and local property taxes. As a whole when all levels of gov are combined, the most revenue comes from income taxation, then payroll taxes, consumption taxes, then corporate income and property taxes. Compare this with Norway and D ...
SYLLABUS (This syllabus is not part of the opinion of the Court. It
... Division did not exercise properly the discretion that the Legislature afforded to it in N.J.S.A. 54:49-11(a) when it declined to waive late payment penalties imposed on plaintiffs. (pp. 3-4) 2. The penalty provisions of both tax amnesty statutes require the Division to impose a penalty on “a taxpa ...
... Division did not exercise properly the discretion that the Legislature afforded to it in N.J.S.A. 54:49-11(a) when it declined to waive late payment penalties imposed on plaintiffs. (pp. 3-4) 2. The penalty provisions of both tax amnesty statutes require the Division to impose a penalty on “a taxpa ...
US Effective Corporate Tax Rate on New Investments
... Disadvantages of High Corporate Tax Rates U.S. policymakers seem to think that America can get by with imposing a heavy tax burden on corporations because the country has many non-tax advantages, such as a large consumer market and an excellent university system. However, many studies have shown tha ...
... Disadvantages of High Corporate Tax Rates U.S. policymakers seem to think that America can get by with imposing a heavy tax burden on corporations because the country has many non-tax advantages, such as a large consumer market and an excellent university system. However, many studies have shown tha ...
INTRODUCTION I. REVIEW OF ECONOMY FY 08/09
... The timing of these efforts has been fortuitous. Given the depressed state of the international capital markets, it is unlikely that these funds could have been sourced privately. Certainly, they could not have been sourced at such favorable terms. Not only have we been able to access credit at attr ...
... The timing of these efforts has been fortuitous. Given the depressed state of the international capital markets, it is unlikely that these funds could have been sourced privately. Certainly, they could not have been sourced at such favorable terms. Not only have we been able to access credit at attr ...
The UK’s fiscal watchdog: a view from the kennel
... Approach” Choosing an Indicator • Central or local government • Exclusion of certain ...
... Approach” Choosing an Indicator • Central or local government • Exclusion of certain ...