Despite the criticality of tax administration (TA) reforms in enhancing domestic revenue mobilization, few studies have attempted to quantify the revenue impact of such reforms. This paper fills this gap by estimating the revenue yields associated with various tax administration capabilities,...

We examine electoral cycles in tax reforms using monthly data over the period of 1990-2018 for 22 advanced economies and emerging markets. We show that governments tend to avoid announcing tax reforms during the months running up to elections. In addition, they become more likely to announce...

Intro -- Contents -- I. INTRODUCTION -- II. KEY FEATURES OF THE GLOBAL FISCAL MODEL -- III. CALIBRATING THE MODEL -- IV. THE MACROECONOMIC EFFECTS OF GOVERNMENT DEBT -- V. GOVERNMENT SPENDING SHOCKS AND PRIVATE CONSUMPTION -- VI. TAX DISTORTIONS AND THE BENEFITS OF TAX REFORM -- VII. THE EFFECTS...

The surge in energy prices in 2022 has been a defining factor behind the increase in euro area inflation. We assess the impact of "unconventional fiscal policy," defined as the set of fiscal measures, possibly expansionary, motivated by a desire to mute the effects of the increase in energy...

The Czech Republic has embarked on an ambitious tax reform and expenditure package to bring the deficit sustainably below 3 percent, and intends to reduce the deficit to 1 percent of GDP by 2012. To address the long-term fiscal challenge due to population aging, pension reform proposals are also...

Despite recording double digit growth since 2000, Armenia's tax-to-GDP ratio has been fairly stable at about 14½ percent. This paper catalogues a range of factors that may account for Armenia's stubbornly for tax collection by benchmarking Armenia's tax-to-GDP against some comparator...

This paper investigates if there are circumstances where time-varying tax rates could improve welfare and whether such policy can effectively be implemented in practice. While, in principle, variable taxes could improve welfare in some cases, the paper highlights the very particular...

We estimate tax multipliers in a "Blanchard-Yaari" consumption model where Ricardian equivalence is broken because the private sector discounts the future at a faster rate than the real rate of interest. The model fits U.S. data since 1955 extremely well-entailing a discount wedge of around 20...

The paper is an economic history of the IMF’s involvement in the Baltic states. It describes and analyzes the initial economic stabilization; the period of consolidation and recovery; the effects of the Russian crisis of 1998; and the current growth phases of Lithuania, Latvia, and Estonia. There...