Robust GDP growth, declining unemployment, low and stable inflation, and a string of fiscal and current account …

In 2005, the German government announced a far-reaching fiscal adjustment program. This paper uses the IMF’s Global … Fiscal Model to study its impact and explores options for addressing long-term pressures from population aging. The growth … effects of the planned VAT increase are likely modest, largely owing to the stimulating effect of other tax reductions. The …

taxes and flat taxes, as well as the worldwide spread of the VAT and policy developments associated with climate change and …