A General Equilibrium Model For Tax Policy Evaluation

Author : Charles L. Ballard,Don Fullerton,John B. Shoven,John Whalley
Publisher : University of Chicago Press
Page : 275 pages
File Size : 55,8 Mb
Release : 2009-05-15
Category : Business & Economics
ISBN : 9780226036335

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A General Equilibrium Model for Tax Policy Evaluation by Charles L. Ballard,Don Fullerton,John B. Shoven,John Whalley Pdf

This book reports the authors' research on one of the most sophisticated general equilibrium models designed for tax policy analysis. Significantly disaggregated and incorporating the complete array of federal, state, and local taxes, the model represents the U.S. economy and tax system in a large computer package. The authors consider modifications of the tax system, including those being raised in current policy debates, such as consumption-based taxes and integration of the corporate and personal income tax systems. A counterfactual economy associated with each of these alternatives is generated, and the possible outcomes are compared.

Author : Amedeo Fossati,Wolfgang Wiegard
Publisher : Routledge
Page : 396 pages
File Size : 51,7 Mb
Release : 2003-09-02
Category : Business & Economics
ISBN : 9781134518807

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Policy Evaluation with Computable General Equilibrium Models by Amedeo Fossati,Wolfgang Wiegard Pdf

Computable General Equilibrium (CGE) modelling is a relatively new field in economics, however, it is rapidly becoming one of the most useful tools for policy evaluation. This book applies CGE modelling to some of the most urgent international economic policy problems, including the Kyoto Protocol, pension reform, and income taxation, and also analyses the methodological issues that arise.

Author : John Piggott,John Whalley
Publisher : Cambridge University Press
Page : 0 pages
File Size : 50,5 Mb
Release : 2009-03-19
Category : Political Science
ISBN : 0521104599

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UK Tax Policy and Applied General Equilibrium Analysis by John Piggott,John Whalley Pdf

At the time of this volume's publication in 1985, general equilibrium modelling had become a significant area of applied economic research. Its focus was to develop techniques to facilitate economy-wide quantitative assessment of allocative and distributional impacts on policy changes. UK Tax Policy and Applied General Equilibrium Analysis was the first book-length treatment of the development and application of an applied general equilibrium model of the Walrasian type, constructed to analyse UK taxation and subsidy policy. As a whole, UK Tax Policy and Applied General Equilibrium Analysis offers the reader two things. First, it gives a detailed account of the development of an applied general equilibrium model of the UK. Second, it provides results of model experiments which have been designed to inform the policy debate, not only in the UK but also in other countries. It should thus be of interest to both researchers and students undertaking research in the applied general equilibrium area and to policy makers concerned with tax reform.

Author : Peter B. Dixon,Dale Jorgenson
Publisher : Newnes
Page : 1143 pages
File Size : 41,6 Mb
Release : 2013-11-14
Category : Business & Economics
ISBN : 9780444536358

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Handbook of Computable General Equilibrium Modeling by Peter B. Dixon,Dale Jorgenson Pdf

In this collection of 17 articles, top scholars synthesize and analyze scholarship on this widely used tool of policy analysis, setting forth its accomplishments, difficulties, and means of implementation. Though CGE modeling does not play a prominent role in top US graduate schools, it is employed universally in the development of economic policy. This collection is particularly important because it presents a history of modeling applications and examines competing points of view. Presents coherent summaries of CGE theories that inform major model types Covers the construction of CGE databases, model solving, and computer-assisted interpretation of results Shows how CGE modeling has made a contribution to economic policy

Author : Henk Don,Theo C.M.J. van de Klundert,Jarig van Sinderen
Publisher : Springer Science & Business Media
Page : 192 pages
File Size : 42,8 Mb
Release : 2013-04-17
Category : Business & Economics
ISBN : 9789401579087

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Applied General Equilibrium Modelling by Henk Don,Theo C.M.J. van de Klundert,Jarig van Sinderen Pdf

Over the last decade or so, applied general equilibrium models have rapidly become a major tool for policy advice on issues regarding allocation and efficiency, most notably taxes and tariffs. This reflects the power of the general equilibrium approach to allocative questions and the capability of today's applied models to come up with realistic answers. However, it by no means implies that the theoretical, practical and empirical problems faced by researchers in applied modelling have all been solved in a satisfactory way. Rather, a promising field of research has been opened up, inviting theorists and practitioners to further explore and exploit its potential. The state of the art in applied general equilibrium modelling is reflected in this volume. The introductory Chapter (Part I) evaluates the use of economic modelling to address policy questions, and discusses the advantages and disadvantages of applied general equilibrium models. Three substantive issues are dealt with in Chapters 2-8: Tax Reform and Capital (Part II), Intertemporal Aspects and Expectations (Part III), and Taxes and the Labour Market (Part IV). While all parts contain results relevant for economic policy, it is clear that theory and applications for these areas are in different stages of development. We hope that this book will bring inspiration, insight and information to researchers, students and policy advisors.

Author : Lawrence H. Goulder,Lawrence H. Summers
Publisher : Unknown
Page : 76 pages
File Size : 44,8 Mb
Release : 1987
Category : Business enterprises
ISBN : IND:30000113581965

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Tax Policy, Asset Prices, and Growth by Lawrence H. Goulder,Lawrence H. Summers Pdf

This paper presents a multisector general equilibrium model that is capable of providing integrated assessments of the economy's short- and long- run responses to tax policy changes. The model contains an explicit treatment of firm's investment decisions according to which producers exhibit forward- looking behavior and take account of adjustment costs inherent in the installation of new capital. This permits an examination of both short-run effects of tax policy on industry profits and asset prices as well as 1ong-term effects on capital accumulation. The model contains considerable detail on U.S. industry, corporate financial policies, and the U.S. tax system. Simulation results reveal that the effects of tax policy differ significantly depending on whether the policy is oriented toward new or old capital measures like the investment tax credit stimulate investment without conferring significant windfall gains on corporate shareholders. Corporate tax rate reductions with the same revenue cost, on the other hand, yield large windfalls to shareholders while providing only a modest stimulus to investment in plant and equipment.

Author : Jaime De Melo,David G. Tarr
Publisher : MIT Press
Page : 320 pages
File Size : 54,7 Mb
Release : 1992
Category : Business & Economics
ISBN : 0262041227

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A General Equilibrium Analysis of US Foreign Trade Policy by Jaime De Melo,David G. Tarr Pdf

The authors' model is the first large-scale computer simulation of the effects of changes in U.S. import quotas.

Author : Don Fullerton,Yolanda Kodrzycki Henderson,John B. Shoven
Publisher : Unknown
Page : 80 pages
File Size : 50,5 Mb
Release : 1982
Category : Equilibrium (Economics)
ISBN : IND:39000000788575

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A Comparison of Methodologies in Empirical General Equilibrium Models of Taxation by Don Fullerton,Yolanda Kodrzycki Henderson,John B. Shoven Pdf

Computational general equilibrium models have proven useful in the area of long run analysis of alternative tax policies. A sizable number of studies have been completed which examine policies such as a value-added tax, corporate and personal income tax integration, a consumption or expenditure tax, housing subsidies, and inflation indexation. This paper reviews the methodologies used in these models. We focus on eight specific models and review in turn: levels of disaggregation, specification of the foreign sector, financial modeling, the measurement of effective tax rates, heterogeneity and imperfect mobility, factor supply, treatment of the government budget, and technical issues associated with implementation. The paper includes some new experiments in connection with simulations of integration of the personal and corporate income tax systems in the United States. We compare the resulting welfare gains in models with different levels of disaggregation, and we discuss alternative justifications for specific disaggregations. We also examine the sensitivity of results to alternative specifications of households' endowments of labor and leisure. Our survey underscores the importance of the assumed elasticities of labor supply with respect to the net of tax wage, and of saving with respect to the net of tax rate of return. Unfortunately, these are also parameters for which there is not a consensus in the economics profession. The survey finds that there are several aspects of modeling that are especially ripe for further progress: the roles of government and business financial decisions, the dynamics of a life-cycle approach, and the measurement of incentive tax and transfer rates.

Author : Mary E. Burfisher
Publisher : Cambridge University Press
Page : 443 pages
File Size : 42,5 Mb
Release : 2017-02
Category : Business & Economics
ISBN : 9781107132207

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Introduction to Computable General Equilibrium Models by Mary E. Burfisher Pdf

The book provides a hands-on introduction to computable general equilibrium (CGE) models, written at an accessible, undergraduate level.

Author : Bob Hamilton,Canada. Department of Finance. TAX POLICY AND LEGISLATION BRANCH.
Publisher : Unknown
Page : 50 pages
File Size : 45,8 Mb
Release : 1989
Category : Equilibrium (Economics)
ISBN : OCLC:1314922195

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The Goods and Services Tax by Bob Hamilton,Canada. Department of Finance. TAX POLICY AND LEGISLATION BRANCH. Pdf

Author : William Gbohoui
Publisher : International Monetary Fund
Page : 39 pages
File Size : 52,5 Mb
Release : 2019-02-15
Category : Business & Economics
ISBN : 9781484393895

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Do Temporary Business Tax Cuts Matter? A General Equilibrium Analysis by William Gbohoui Pdf

This paper develops a dynamic general equilibrium model to assess the effects of temporary business tax cuts. First, the analysis extends the Ricardian equivalence result to an environment with production and establishes that a temporary tax cut financed by a future tax-increase has no real effect if the tax is lump-sum and capital markets are perfect. Second, it shows that in the presence of financing frictions which raise the cost of investment, the policy temporarily relaxes the financing constraint thereby reducing the marginal cost of investment. This direct effect implies positive marginal propensities to invest out of tax cuts. Third, when the tax is distortionary, the expectation of high future tax rates reduces the expected marginal return on investment mitigating the direct stimulative effects.

Author : Sameer R. Rege
Publisher : Routledge
Page : 379 pages
File Size : 40,6 Mb
Release : 2018-10-24
Category : Business & Economics
ISBN : 9781351776103

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Applied General Equilibrium Analysis of India's Tax and Trade Policy by Sameer R. Rege Pdf

This title was first published in 2003. India's tax revenues depend on manufacturing while agriculture and services generate employment. WTO's Uruguay and Doha rounds imply large tariff cuts. This affects the competitiveness of the Indian manufacturing sector and has implications for government deficits. Excessive dependence on indirect taxes and subsidies to regulate markets introduces distortions and is incompatible with free market principles. The book analyses welfare implications of fiscal and trade policies for India. To put the results in perspective, developments in trade theory, public finance and Computable General Equilibrium (CGE) modelling are covered. Theoretical results are juxtaposed with empirical findings from these models. Methodology to construct CGE models is also covered. The trade model covers tariff cuts under various assumptions besides incorporating "new trade theory". As tax reforms and tariff cuts are independent, past tax reforms like MODVAT (MODified VAT) and proposed reforms like VAT, elimination/reduction of subsidies are covered using a separate tax model.

Author : Robert H. Haveman,Kevin Hollenbeck
Publisher : Elsevier
Page : 316 pages
File Size : 50,6 Mb
Release : 2013-10-02
Category : Business & Economics
ISBN : 9781483264158

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Sectoral, Regional, and General Equilibrium Models by Robert H. Haveman,Kevin Hollenbeck Pdf

Microeconomic Simulation Models for Public Policy Analysis, Volume 2: Sectoral, Regional, and General Equilibrium Models is a collection of papers presented at a conference of the same title held in Washington, D.C. in March 1978. This volume deals with economic equilibrium models. This collection also discusses micro data models of the macroeconomy that include policy explorations concerning the transaction model of the American economy. One paper reviews the experiments with fiscal policy parameters from a micro to a macro model related to the Swedish economy: this model analyzes inflation at the micro market level, as well as the interactions between profits, investments, inflation, and growth. Another paper analyzes alternative plans for corporate and income tax integration in the United States: the model used shows that integration of personal and corporate income taxes can yield revenues of $6 billion. As regards rehabilitating central city housing issues, one author present a simulation model which shows that rehabilitation of the existing housing inventory can only produce small net gains over time. To have larger gains, the model shows that net increase in demand for housing should also follow. This book can prove useful for economists, sociologists and officials involved in community development and in the public sector.

Author : John B. Shoven,John Whalley
Publisher : Cambridge University Press
Page : 316 pages
File Size : 40,5 Mb
Release : 1992-05-29
Category : Business & Economics
ISBN : 0521319862

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Applying General Equilibrium by John B. Shoven,John Whalley Pdf

The central idea underlying this work is to convert the Walrasian general equilibrium structure (formalized in the 1950s by Kenneth Arrow, Gerard Debreu and others) from an abstract representation of an economy into realistic models of actual economies.

Author : Hans Lofgren,Rebecca Lee Harris,Sherman Robinson
Publisher : Intl Food Policy Res Inst
Page : 79 pages
File Size : 41,8 Mb
Release : 2002-01-01
Category : Business & Economics
ISBN : 9780896297203

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A Standard Computable General Equilibrium (CGE) Model in GAMS by Hans Lofgren,Rebecca Lee Harris,Sherman Robinson Pdf

The purpose of this manual is to contribute to and facilitate the use of computable general equilibrium (CGE) models in the analysis of issues related to food policy in developing countries. The volume includes a detailed presentation of a static “standard” CGE model and its required database and incorporates features of particular importance in developing countries. The manual discusses the implementation of the model in GAMS and is accompanied by a CD-ROM that includes the GAMS software (free demo system), the GAMS input files for the model, sample databases, simulations, solution reports, and a social accounting matrix (SAM) aggregation program. Although the volume provides a standardized framework for analysis, the analyst is not forced to make “one-size-fits-all” assumptions. The GAMS code is written to give the analyst considerable flexibility in model specification.