Goods and service tax (GST) introduced as a ‘good and simple tax’ on 1 July 2017 by the Modi government is the boldest measure of tax reform so far in India. The major aim of this paper is to evaluate the micro and macro impacts of the goods and services taxes (GST) using a dynamic...

An increasing proportion of people towards the bottom of the UK's income distribution are in a household where someone is in paid work. Working households comprised 37% of those below the official poverty line in 1994-95 and 58% in 2017-18. Much of that increase is due to trends that seem...

We analyse the distributional effects of increased oil excises in Belgium by combining a Computable General Equilibrium (CGE) model with the EUROMOD microsimulation framework that exploits the rich detail of household-level data. The link between the CGE model and the micro level is top-down,...

We analyse the distributional effects of increased oil excises in Belgium by combining a regional Computable General Equilibrium (CGE) model with a microsimulation framework that exploits the rich detail of household-level data. The results suggest that policymakers face an equity-efficiency...

We calibrate a sequence of four nested models to study the dynamics of wealth accumulation. Individuals maximize a utility function whose arguments are consumption and investment. They desire to accumulate wealth for its own sake - this is not a life-cycle model. A competitive firm produces a...

This paper shows that a zero-sum redistribution of wealth within a country can have persistent aggregate effects. Motivated by the case of an unanticipated inflation episode, we consider redistribution shocks that shift resources from old to young households. Aggregate effects arise because...

Technical change in key OECD countries since 1990 is examined in terms of its contributions to total factor productivity and to factor bias. The dependence of real income and inequality on changes in factor abundance, total factor productivity, factor bias, the relative cost of capital goods and...

In the context of a sharp rise in the incidence of poverty and increasing inequality since the end of the last decade, a major tax reform was put into place in mid-2007 with the explicit goals of promoting both greater efficiency and equity in the Uruguayan tax system. Overall, the reform...

A persistent and very high-income inequality is a well known feature of the Brazilian economy. However, from 2001 to 2005 the Gini index presented an unprecedented fall of 4.6 percent combined with significant poverty reduction. Previous studies using partial equilibrium analysis have pointed...

The dependence of real income and inequality on changes in factor abundance, total factor productivity, factor bias, the relative cost of capital goods and the progressivity of the tax system are quantified using an elemental general equilibrium model with three households. Observed declines in...