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Tax reforms, "free lunches", and "cheap lunches" in open economies /
This paper focuses on the macroeconomic and budgetary impact of tax reforms in a New Keynesian two-country model. Our results show that both income and consumption unilateral tax rate reductions do not constitute a "free lunch", in the sense that they have negative budgetary consequences f...
| Clasificación: | Libro Electrónico |
|---|---|
| Autores principales: | , |
| Autor Corporativo: | |
| Formato: | Electrónico eBook |
| Idioma: | Inglés |
| Publicado: |
Washington, D.C. :
International Monetary Fund,
©2008.
|
| Colección: | IMF working paper ;
WP/08/227. |
| Temas: | |
| Acceso en línea: | Texto completo |
MARC
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| 100 | 1 | |a Ganelli, Giovanni, |e author. | |
| 245 | 1 | 0 | |a Tax reforms, "free lunches", and "cheap lunches" in open economies / |c prepared by Giovanni Ganelli and Juha Tervala. |
| 260 | |a Washington, D.C. : |b International Monetary Fund, |c ©2008. | ||
| 300 | |a 1 online resource (30 pages) | ||
| 336 | |a text |b txt |2 rdacontent | ||
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| 490 | 1 | |a IMF working paper ; |v WP/08/227 | |
| 500 | |a At head of title: IMF Institute. | ||
| 500 | |a "September 2008." | ||
| 504 | |a Includes bibliographical references (pages 28-30). | ||
| 520 | |a This paper focuses on the macroeconomic and budgetary impact of tax reforms in a New Keynesian two-country model. Our results show that both income and consumption unilateral tax rate reductions do not constitute a "free lunch", in the sense that they have negative budgetary consequences for the country which implements them. In addition, the degree of self-financing implied by our model is in the 8 1/2 to 24 percent range. Since the degree of self-financing estimated in previous literature was larger, we conclude that in our model not only the "lunch" is not "free", but is also not that "cheap". A comparison of alternative (income-tax versus consumption-tax based) fiscal stimulus packages shows that consumption tax cuts imply a larger short-run impact on domestic output but the income tax cuts stimulate the domestic economy more in the long run. We also look at the implications of a revenue-neutral tax reform in which consumption taxes are increased to compensate for lower income tax collection | ||
| 588 | 0 | |a Print version record. | |
| 506 | |3 Use copy |f Restrictions unspecified |2 star |5 MiAaHDL | ||
| 533 | |a Electronic reproduction. |b [Place of publication not identified] : |c HathiTrust Digital Library, |d 2011. |5 MiAaHDL | ||
| 538 | |a Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. |u http://purl.oclc.org/DLF/benchrepro0212 |5 MiAaHDL | ||
| 583 | 1 | |a digitized |c 2011 |h HathiTrust Digital Library |l committed to preserve |2 pda |5 MiAaHDL | |
| 505 | 0 | |a I. Introduction; II. The Model; A. Households; B. The Government; C. Firms; D. The Initial Steady State; III. Parameterization; IV. The Domestic and International Effects of a Cut in the Income Tax Rate; A. The Impact on the Domestic Economy; B. The International Effects; V. Consumption Tax Cuts; VI. A Revenue Neutral Tax Reform; VII. Sensitivity Analysis; VII. Conclusions; Appendix; References | |
| 590 | |a ProQuest Ebook Central |b Ebook Central Academic Complete | ||
| 650 | 0 | |a Taxation |x Econometric models. | |
| 650 | 0 | |a Public welfare |x Econometric models. | |
| 650 | 6 | |a Impôt |x Modèles économétriques. | |
| 650 | 6 | |a Aide sociale |x Modèles économétriques. | |
| 650 | 7 | |a Public welfare |x Econometric models |2 fast | |
| 650 | 7 | |a Taxation |x Econometric models |2 fast | |
| 650 | 7 | |a Steuerreform. |2 stw | |
| 650 | 7 | |a Offene Volkswirtschaft. |2 stw | |
| 650 | 7 | |a Zwei-Länder-Modell. |2 stw | |
| 650 | 7 | |a Ungleichgewichtstheorie. |2 stw | |
| 650 | 7 | |a Laffer-Kurve. |2 stw | |
| 650 | 7 | |a Theorie. |2 stw | |
| 700 | 1 | |a Tervala, Juha, |e author. | |
| 710 | 2 | |a IMF Institute. | |
| 758 | |i has work: |a Tax reforms, "free lunches", and "cheap lunches" in open economies (Text) |1 https://id.oclc.org/worldcat/entity/E39PCH6XYpCbBQbV3XtGpbc3wC |4 https://id.oclc.org/worldcat/ontology/hasWork | ||
| 776 | 0 | 8 | |i Print version: |a Ganelli, Giovanni. |t Tax reforms, "free lunches", and "cheap lunches" in open economies. |d Washington, D.C. : International Monetary Fund, ©2008 |w (OCoLC)316211599 |
| 830 | 0 | |a IMF working paper ; |v WP/08/227. | |
| 856 | 4 | 0 | |u https://ebookcentral.uam.elogim.com/lib/uam-ebooks/detail.action?docID=1608038 |z Texto completo |
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