explicit taxation through the tax code but also of the implicit taxation through the withdrawal of benefits. The paper … calculates effective tax rates for recipients of social assistance; it is shown that for labor incomes in the lower income range … explicit and implicit taxation add up to a marginal burden of just under 75 percent on average. The 1996 tax reform alleviates …

substantial pass-through effects to inflation, given the large and persistent depreciation movement. Widespread indexation … indexation is less relevant to the inflation dynamics. Overall, inflation would have remained within the central bank's target …

determine the extent to which efficient arbitrage takes place under conditions of partial financial indexation. The data cannot …

This paper examines the relationship between the degree of wage indexation chosen by private agents and the degree of … indexation of the public debt. It is shown that the government is likely to respond to an increase in the degree of wage … indexation by increasing the portion of the public debt that is indexed. By contrast, the effect of an increase in public debt …

Using the post-WWII data of U.S. federal corporate income tax changes, within a Smooth Transition VAR, this paper finds … that the output effect of capital income tax cuts is government debt-dependent: it is less expansionary when debt is high … than when it is low. To explore the mechanisms that can drive this fiscal state-dependent tax effect, the paper uses a DSGE …

This paper develops a dynamic general equilibrium model to assess the effects of temporary business tax cuts. First … tax cut financed by a future tax-increase has no real effect if the tax is lump-sum and capital markets are perfect … marginal propensities to invest out of tax cuts. Third, when the tax is distortionary, the expectation of high future tax rates …