We explore the underlying determinants of the macroeconomic effects of fiscal policy and tax and social security reform … and small economy, are examined: the effects of changes in government debt; higher government spending; tax reform; and …

The Czech Republic has embarked on an ambitious tax reform and expenditure package to bring the deficit sustainably … effects of these measures using the Global Fiscal Model. The tax reform package will achieve a more efficient tax system. If …

We compare the general tax provisions and investment incentives in the Philippines to six other east-Asian economies …-Malaysia, Indonesia, Lao, Vietnam, Cambodia, and Thailand. We calculate effective tax rates and find that general effective tax rates are … relatively high in the Philippines, while investment incentives are comparable to those in neighboring countries. Tax holidays …

We use the IMF's Global Fiscal Model to evaluate recent proposals to reform social security and the tax system in the … United States. Introducing personal retirement accounts is unlikely to yield significant macroeconomic benefits unless it … spurs additional fiscal consolidation to prevent a large increase in government debt. Similar benefits are obtained if the …

effects of the planned VAT increase are likely modest, largely owing to the stimulating effect of other tax reductions. The … term. An additional package of expenditure restraint, entitlement reform, and tax-base broadening compares favorably to …

. Finally, we show that tax reform aimed at increasing incentives to save could provide support to fiscal consolidation measures. …

. There are substantial benefits from fiscal cooperation, while negative growth effects can be offset by complementary … structural reforms in product and labor markets with the benefits accruing early and to all incomegroups. …

-term benefits compared with less front-loaded strategies; (iv) tax reform involving shifting from corporate taxation to consumption …