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Political economy aspects make progressive income taxation and taxation of capital income imperative in practise. International tax competition and profit shifting, in turn, put pressure on corporate and capital taxes. Hence, the scope for a politically feasible change-over to a status of...
Persistent link: https://www.econbiz.de/10008784944
For thirty years prominent voices have advocated a policy of starving the beast cutting taxes to force government spending cuts. This paper analyzes the macroeconomic and welfare consequences of this policy using a two-country general equilibrium model. Under several strong assumptions the...
Persistent link: https://www.econbiz.de/10008671300
This paper analyzes past fiscal consolidation plans and their outcomes in France. It covers the early attempts at fiscal consolidation in the 1970s and the 1980s (Plan Barre and Virage de la Rigueur), the first episode of medium-term fiscal consolidation in 1994-97 ahead of joining the European...
Persistent link: https://www.econbiz.de/10009019566
Although the empirical literature has long struggled to identify the impact of taxes on corporate financial structure, a recent boom in studies offers ample support for the debt bias of taxation. Yet, studies differ considerably in effect size and reveal an equally large variety in methodologies...
Persistent link: https://www.econbiz.de/10009019605
This paper discusses the process of implementing income taxes in Uruguay during the period 1961-1973. The study examines the failure of a previous implementation in the twenties, detailing the positions of the various political parties which tended to appear again during the parliamentary debate...
Persistent link: https://www.econbiz.de/10009131204
We use a neoclassical open economy model with traded and non traded goods to investigate the sectoral effects of three tax reforms: i) two revenue-neutral shifting the tax burden from labor to consumption taxes and ii) one labor tax restructuring keeping the marginal tax wedge constant....
Persistent link: https://www.econbiz.de/10008794287
The paper documents a dynamic general equilibrium model for Colombia based on national accounts from 1999. The paper is part of a project intended to develop a capacity for the the design, specification, and application of computable models within the Colombian Ministry of Finance and Department...
Persistent link: https://www.econbiz.de/10008805444
The capital income tax cuts that were part of the Jobs and Growth Tax Relief Reconciliation Act of 2003 are expiring this year and the administration has to decide whether to extend them or not. This paper assesses the effects of these tax cuts in a calibrated dynamic general equilibrium...
Persistent link: https://www.econbiz.de/10008835223
We use a neoclassical open economy model with traded and non traded goods to investigate the sectoral effects of three tax reforms: i) two revenue-neutral shifting the tax burden from labor to consumption taxes and ii) one labor tax restructuring keeping the marginal tax wedge constant....
Persistent link: https://www.econbiz.de/10008838088
With Japan’s public debt reaching historical levels, the need for fiscal consolidation and structural reforms have increased. As fiscal consolidation will require a sustained and large adjustment in the fiscal balance, its growth effect is a concern particularly for the short run. This...
Persistent link: https://www.econbiz.de/10008839344