Showing 1 - 10 of 94
This paper finds optimal fiscal rule parameter values and measures the effects of imposing fiscal rules using a default model calibrated to an economy that in the absence of a fiscal rule pays a significant sovereign default premium. The paper also studies the case in which the government...
Persistent link: https://www.econbiz.de/10009650638
This paper continues the study of optimal fiscal policy in a growing economy by exploring a case in which the government simultaneously provides three main categories of expenditures with distortionary tax finance: public production services, public consumption services, and state-contingent...
Persistent link: https://www.econbiz.de/10005599285
in part to corruption, and certain taxes are more affected than others. Taxes that require frequent interaction between … the tax authority and individuals, such as taxes on international trade, seem to be more affected by corruption than most …
Persistent link: https://www.econbiz.de/10005605284
better serve their interests. It then explores the welfare costs from cascading taxes, showing that these may actually be …
Persistent link: https://www.econbiz.de/10011123815
We present a simple model of petroleum exploration and development that can be applied to study the performance of alternative tax systems and identify potential distortions. Although the model is a highly simplified, it incorporates many factors and some of the key tradeoffs that would...
Persistent link: https://www.econbiz.de/10011142038
Social protection in industrial countries has been provided through regulations, tax expenditures, and public spending. This paper argues that globalization will affect governments’ ability to continue providing this social protection at the level of recent decades. Specifically, tax...
Persistent link: https://www.econbiz.de/10005264098
The stance of fiscal policy in CEMAC and WAEMU is strongly influenced by fiscal effort in the previous period. This persistence underscores the risks of a procyclical fiscal policy stance, given these countries' high degree of dependence on primary commodities and exposure to terms of trade...
Persistent link: https://www.econbiz.de/10005826124
Asset booms and sectoral changes can distort traditional estimates of structural fiscal revenue, and could lead to serious fiscal policy errors. This paper extends the estimation of structural revenues to take account of asset prices and sectoral changes, and applies this to the case of Ireland,...
Persistent link: https://www.econbiz.de/10008519502
This paper outlines the challenge of developing an operational macroeconomic framework in Ethiopia consistent with the large envisaged scaling up of aid to achieve the Millennium Development Goals (MDGs). This paper describes an MDG scenario that addresses both microeconomic and macroeconomic...
Persistent link: https://www.econbiz.de/10005248180
at the subnational government. A reliance on shared taxes with extensive earmarking leads to weak subnational …
Persistent link: https://www.econbiz.de/10005263686