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From April 2013 until May 2016, Japan's monetary base rose from ¥155 trillion to ¥387 trillion as part of the Bank of … Japan's (BOJ) quantitative and qualitative easing (QQE) monetary policy for achieving a price stability target of 2 … gross domestic product. The empirical results reveal that the QE and QQE monetary policy of the Bank of Japan increased …
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The United Kingdom employed the McKenna rule to conduct fiscal policy during World War I (WWI) and the interwar period. Named for Reginald McKenna, Chancellor of the Exchequer (1915–16), the McKenna rule committed the United Kingdom to a path of debt retirement, which we show was...
Persistent link: https://www.econbiz.de/10010292227
In most OECD countries the gap between rich and poor has widened over the past decades. This paper analyzes whether and to what extent taxes and social transfers have contributed to this trend. Has the redistributive power of different social programs changed over time? The paper contributes to...
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Using counterfactual microsimulations, Shapley decompositions of time change in inequality and poverty indices make it possible to disentangle and quantify the relative effect of tax-benefit policy changes, compared to all other effects including shifts in the distribution of market income....
Persistent link: https://www.econbiz.de/10010269603
This paper investigates the impact of fiscal policy on profits using panel data for 19 high-income OECD countries during the period 1975-1999. We estimate a profit equation in which profits depend on a set of fiscal variables. Our empirical method is based on a consistent treatment of the...
Persistent link: https://www.econbiz.de/10010274386
For policy makers and analysts, it is important to isolate the redistributive impact of tax-benefit policy changes from changes in the environment in which policies operate. When actual reforms are motivated by work incentives, it is also crucial to evaluate behavioural responses and the...
Persistent link: https://www.econbiz.de/10010274666
The paper discusses possible directions and magnitudes of the relationship between the social security driven tax wedge, employment and shadow employment in Russia and Ukraine. The first section presents a summary of the economic and institutional background for development of the current size...
Persistent link: https://www.econbiz.de/10011430835