This chapter provides a review of some implications of demographic shift arising from population aging for fiscal policy, taxation policy, and social security settings. The key implications of population aging that have been forthcoming from the many national and international macroeconomic...

We estimate the relative impact of consumption and income taxes on aggregate saving rates using panel data of OECD countries over 1975-2007. In a fixed-effects model and using tax rates and other key variables averaged in five-year intervals, we find that consumption taxation is generally...

We estimate short- and long-run tax elasticities that capture the relationship between changes in national income and tax revenue. We show that the short-run tax elasticity changes according to the business cycle. We estimate a two state Markov-switching regression on a novel dataset of tax...

The change of national income brings about tax revenue change. This relationship is embodied in the tax elasticity and usefully estimated both for the long-run and the short-run. In this paper we show that the short-run tax elasticity - the percent change in the tax revenue in response to a one...

Technological advancements are playing a transformative role in curtailing the need for labor. These very same forces are catapulting capital in the form of robotics, machinery, and intellectual property to the economic forefront. In virtually every sphere of human existence, labor's decline and...

The paper aimed to estimate the effects of the 2013 new fiscal policy, by broadening the taxation basis of agricultural incomes on almost all types of crops and animal species as well as on small farmers represented by unauthorized and authorized natural persons. Public statistical data of the...

Due to its overwhelming significance among taxes on earnings in the agricultural and forestry sector, the analyses are primarily concentrated on the international comparison of effective income tax burden in the selected EU Member States as well as Canada, the United States and Japan. In this...

There has been a lot of discussion recently regarding the macroeconomic consequences of a distortionary taxation system. However the way this distortionary taxation scheme or instrument is modeled in macroeconomic analysis, as well as the ability of these models to capture the effects implied by...

We document large differences in trend changes in hours worked across OECD countries over the period 1956-2004. We then assess the extent to which these changes are consistent with the intratemporal first order condition from the neoclassical growth model. We find large and trending deviations...

In this study, we use a simple dynamic general equilibrium model to demonstrate that the tax deductions affect the three elasticities: that of the Laffer curve (the Laffer elasticity, hereafter), taxable income, and the tax revenue. We first decompose the Laffer elasticity, which consists of the...