The article examines two different approaches to estimating the effect of the tax burden on the amount of total output and budget revenues. The first approach is based on a transformation model, in which the main role is played by a production function with variable elasticity. The second...

The article presents a macroeconomic equilibrium model in which aggregate demand and aggregate supply are considered not in relation to the price level, as is traditionally done, but in terms of functions dependent on the average tax rate. The concepts of optimal and equilibrium tax rates are...

Based on an analysis of a modified version of the standard Keynesian model of a product market, it is shown that a change in the average tax rate has a complex effect on aggregate demand. Depending on the marginal propensity of households to consume and the marginal propensity for government...

Since its declaration of independence, Georgia has failed to create an economic system that can provide the basis for stable economic development. The expectations and reforms undertaken after the "Rose Revolution" have not been met. What has developed as a result is a poor country's consumer...

We find that direct comparisons of economic growth by region are not constructive due to the catch-up effect, so certain preconditions must be taken into account. We propose adjusting levels of economic growth based on a hypothesis of proportional overlap for the catch-up effect, after which...

The fall of 2003 appeared to be a turning point in the history of independent Georgia: during November 22--23, Georgia witnessed a Rose Revolution. This event was caused by the harmful social consequences of a number of negative factors, including economic ones. Relatively high level of...