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endowment shocks. The government's insurance motive generates pro-cyclical taxes on capital income. If the government could …
Persistent link: https://www.econbiz.de/10012467189
We analyze the dynamic macroeconomic effects of border adjustment taxes, both when they are a feature of corporate tax … reform (C-BAT) and for the case of value added taxes (VAT). Our analysis arrives at the following main conclusions. First, C …. Lastly, border taxes increase government revenues in periods of trade deficit, however, given the net foreign asset position …
Persistent link: https://www.econbiz.de/10012453018
We show that even when the exchange rate cannot be devalued, a small set of conventional fiscal instruments can robustly replicate the real allocations attained under a nominal exchange rate devaluation in a dynamic New Keynesian open economy environment. We perform the analysis under...
Persistent link: https://www.econbiz.de/10012460995