Expenditure Composition And Distortionary Tax For Equitable Economic Growth

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Expenditure Composition and Distortionary Tax for Equitable Economic Growth

Hyun Park
Expenditure Composition and Distortionary Tax for Equitable Economic Growth Book PDF

Author : Hyun Park
Publisher : International Monetary Fund
Page : 44 pages
File Size : 50,5 Mb
Release : 2006-06
Category : Business & Economics
ISBN : UCSD:31822034387639

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Expenditure Composition and Distortionary Tax for Equitable Economic Growth by Hyun Park Pdf

This paper continues the study of optimal fiscal policy in a growing economy by exploring a case in which the government simultaneously provides three main categories of expenditures with distortionary tax finance: public production services, public consumption services, and state-contingent redistributive transfers. The paper shows that in a general equilibrium model with given exogenous fiscal policy, a nonlinear relation exists between the suboptimal longrun growth rate in a competitive economy and distortionary tax rates. When fiscal policy is endogenously chosen at a social optimum, the relation between the rate of growth and tax rates is always negative. These two conclusions suggest that the interaction between fiscal policy and growth may be complicated enough that it cannot be captured in a simple linear model using an aggregate measure of fiscal policy. The sources of nonlinearity include expectation and coordination of fiscal policy, impluse response of government policies, and the presence of positive externality due to government spending.

Government Spending, Taxes, and Economic Growth

Mr.Paul Cashin
Government Spending Taxes and Economic Growth Book PDF

Author : Mr.Paul Cashin
Publisher : International Monetary Fund
Page : 36 pages
File Size : 41,9 Mb
Release : 1994-08-01
Category : Business & Economics
ISBN : 9781451951479

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Government Spending, Taxes, and Economic Growth by Mr.Paul Cashin Pdf

This paper develops an endogenous growth model of the influence of public investment, public transfers, and distortionary taxation on the rate of economic growth. The growth-enhancing effects of investment in public capital and transfer payments are modeled, as is the growth-inhibiting influence of the levying of distortionary taxes which are used to fund such expenditure. The theoretical implications of the model are then tested with data from 23 developed countries between 1971 and 1988, and time series cross sectional results are obtained which support the proposed influence of the public finance variables on economic growth.

Expansionary Austerity New International Evidence

Mr.Daniel Leigh,Mr.Andrea Pescatori,Mr.Jaime Guajardo
Expansionary Austerity New International Evidence Book PDF

Author : Mr.Daniel Leigh,Mr.Andrea Pescatori,Mr.Jaime Guajardo
Publisher : International Monetary Fund
Page : 41 pages
File Size : 44,7 Mb
Release : 2011-07-01
Category : Business & Economics
ISBN : 9781455294695

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Expansionary Austerity New International Evidence by Mr.Daniel Leigh,Mr.Andrea Pescatori,Mr.Jaime Guajardo Pdf

This paper investigates the short-term effects of fiscal consolidation on economic activity in OECD economies. We examine the historical record, including Budget Speeches and IMFdocuments, to identify changes in fiscal policy motivated by a desire to reduce the budget deficit and not by responding to prospective economic conditions. Using this new dataset, our estimates suggest fiscal consolidation has contractionary effects on private domestic demand and GDP. By contrast, estimates based on conventional measures of the fiscal policy stance used in the literature support the expansionary fiscal contractions hypothesis but appear to be biased toward overstating expansionary effects.

Fiscal Policy and Long-Term Growth

International Monetary Fund
Fiscal Policy and Long Term Growth Book PDF

Author : International Monetary Fund
Publisher : International Monetary Fund
Page : 257 pages
File Size : 44,8 Mb
Release : 2015-04-20
Category : Business & Economics
ISBN : 9781498344654

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Fiscal Policy and Long-Term Growth by International Monetary Fund Pdf

This paper explores how fiscal policy can affect medium- to long-term growth. It identifies the main channels through which fiscal policy can influence growth and distills practical lessons for policymakers. The particular mix of policy measures, however, will depend on country-specific conditions, capacities, and preferences. The paper draws on the Fund’s extensive technical assistance on fiscal reforms as well as several analytical studies, including a novel approach for country studies, a statistical analysis of growth accelerations following fiscal reforms, and simulations of an endogenous growth model.

The Sources of Economic Growth in OECD Countries

OECD
The Sources of Economic Growth in OECD Countries Book PDF

Author : OECD
Publisher : OECD Publishing
Page : 248 pages
File Size : 53,7 Mb
Release : 2003-02-25
Category : Electronic
ISBN : 9789264199460

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The Sources of Economic Growth in OECD Countries by OECD Pdf

This publication examines the causes of the divergence in growth across the OECD.

Is Fiscal Policy the Answer?

Blanca Moreno-Dodson
Is Fiscal Policy the Answer Book PDF

Author : Blanca Moreno-Dodson
Publisher : World Bank Publications
Page : 286 pages
File Size : 45,8 Mb
Release : 2012-10
Category : Business & Economics
ISBN : 9780821396308

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Is Fiscal Policy the Answer? by Blanca Moreno-Dodson Pdf

Fiscal policy is an important instrument for maintaining and improving living standards. Such living standards can be viewed as an outcome of the interaction between the opportunities offered by society and the readiness and ability of each person to exploit them. Under certain circumstances, public finance can make an important contribution to the creation of opportunities within a given society by raising resources from the private sector through taxation or borrowing (domestic and external) and allocating those resources effectively and equitably in the form of public spending, including through public goods and transfers. The first chapters in this volume sketch out a framework that policy makers can use in adopting a more cohesive or integrated approach to the short- and long-term dimensions of fiscal policy. Here the traditional threefold rationale for fiscal policy proposed by Musgrave-stabilization, resource allocation, and distribution-continues to be useful. Other chapters in this volume take up some of the critical institutional challenges in implementing fiscal policy for longer-term growth and development. These chapters also look at the tools and approaches being developed to address these challenges. Improving the quality of public investment management is a particular priority in view of the recent evidence that as little as half of all public investment expenditure translates into productive capital stock. The last chapter in this volume is a case study of fiscal responses to the great recession in low-income Sub-Saharan Africa, looking at stabilization and the longer-run growth, as well as distributional aspects of such responses. The growing depth of domestic financial markets in many African countries rather unexpectedly is turning out to be a critical source of financing for fiscal policy responses.

Inequality and Growth

Theo S. Eicher,Stephen J. Turnovsky
Inequality and Growth Book PDF

Author : Theo S. Eicher,Stephen J. Turnovsky
Publisher : MIT Press
Page : 343 pages
File Size : 41,5 Mb
Release : 2007-01-26
Category : Business & Economics
ISBN : 9780262550642

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Inequality and Growth by Theo S. Eicher,Stephen J. Turnovsky Pdf

Even minute increases in a country's growth rate can result in dramatic changes in living standards over just one generation. The benefits of growth, however, may not be shared equally. Some may gain less than others, and a fraction of the population may actually be disadvantaged. Recent economic research has found both positive and negative relationships between growth and inequality across nations. The questions raised by these results include: What is the impact on inequality of policies designed to foster growth? Does inequality by itself facilitate or detract from economic growth, and does it amplify or diminish policy effectiveness? This book provides a forum for economists to examine the theoretical, empirical, and policy issues involved in the relationship between growth and inequality. The aim is to develop a framework for determining the role of public policy in enhancing both growth and equality. The diverse range of topics, examined in both developed and developing countries, includes natural resources, taxation, fertility, redistribution, technological change, transition, labor markets, and education. A theme common to all the essays is the importance of education in reducing inequality and increasing growth.

Taxation, Government Spending and Economic Growth

Philip Booth,Ryan Bourne,Rory Meakin,Lucy Minford,Patrick Minford,David B. Smith
Taxation Government Spending and Economic Growth Book PDF

Author : Philip Booth,Ryan Bourne,Rory Meakin,Lucy Minford,Patrick Minford,David B. Smith
Publisher : London Publishing Partnership
Page : 256 pages
File Size : 46,9 Mb
Release : 2016-11-01
Category : Political Science
ISBN : 9780255367356

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Taxation, Government Spending and Economic Growth by Philip Booth,Ryan Bourne,Rory Meakin,Lucy Minford,Patrick Minford,David B. Smith Pdf

Amidst the debates about ‘austerity’ a number of vital debates in public finance have been sidelined. Because the reductions in government spending – small though they have been so far- have been designed to reduce the government’s borrowing requirement, there has been little discussion of whether the size of the state should be reduced in order to facilitate long-run reductions in the burden of taxation. This book traces the history of the growth of the size of the state over the last 100 years whilst also making international comparisons. There is a particular focus on recent and projected future developments which shows that, though the total level of government spending has not decreased significantly in recent years, there has been a big redirection of spending from some areas to others. The authors then examine the evidence on the relationship between taxation and economic growth. As well as reviewing recent literature, they also undertake new modelling that higher taxes are detrimental for growth. In the final part of the book, the whole UK tax system is reconsidered in a proper economic framework. The UK has one of the world’s most complex tax systems and its incoherence has increased over the last five years. Sweeping reforms are proposed to the system which wold involve abolishing around 20 taxes and the development of a simple, predictable tax system based on principles that should gain wide acceptance.

Tax Policy and Inclusive Growth

Khaled Abdel-Kader,Ruud A. de Mooij
Tax Policy and Inclusive Growth Book PDF

Author : Khaled Abdel-Kader,Ruud A. de Mooij
Publisher : INTERNATIONAL MONETARY FUND
Page : 38 pages
File Size : 54,7 Mb
Release : 2020-12-04
Category : Business & Economics
ISBN : 1513561561

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Tax Policy and Inclusive Growth by Khaled Abdel-Kader,Ruud A. de Mooij Pdf

This paper discusses the theory and practice of tax design to achieve an efficient and equitable outcome, i.e. in support of inclusive growth. It starts with a discussion of the key principles from tax theory to guide practical tax design. Then, it elaborates on more granular tax policy, discussing key choices in the structure of the personal income tax on labor and capital income, taxes on wealth, the corporate income tax, and consumption taxes. The paper concludes by highlighting the political economy considerations of the issues with concrete recommedtions as to how to implement tax reform.

Fiscal Adjustment for Stability and Growth

Mr.James Daniel
Fiscal Adjustment for Stability and Growth Book PDF

Author : Mr.James Daniel
Publisher : International Monetary Fund
Page : 80 pages
File Size : 51,6 Mb
Release : 2006-08-17
Category : Business & Economics
ISBN : 1589065131

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Fiscal Adjustment for Stability and Growth by Mr.James Daniel Pdf

The pamphlet (which updates the 1995 Guidelines for Fiscal Adjustment) presents the IMF’s approach to fiscal adjustment, and focuses on the role that sound government finances play in promoting macroeconomic stability and growth. Structured around five practical questions—when to adjust, how to assess the fiscal position, what makes for successful adjustment, how to carry out adjustment, and which institutions can help—it covers topics such as tax policies, debt sustainability, fiscal responsibility laws, and transparency.

Man Out

Andrew L. Yarrow
Man Out Book PDF

Author : Andrew L. Yarrow
Publisher : Brookings Institution Press
Page : 340 pages
File Size : 47,9 Mb
Release : 2018-09-11
Category : Political Science
ISBN : 9780815732754

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Man Out by Andrew L. Yarrow Pdf

The story of men who are hurting—and hurting America by their absence Man Out describes the millions of men on the sidelines of life in the United States. Many of them have been pushed out of the mainstream because of an economy and society where the odds are stacked against them; others have chosen to be on the outskirts of twenty-first-century America. These men are disconnected from work, personal relationships, family and children, and civic and community life. They may be angry at government, employers, women, and "the system" in general—and millions of them have done time in prison and have cast aside many social norms. Sadly, too many of these men are unsure what it means to be a man in contemporary society. Wives or partners reject them; children are estranged from them; and family, friends, and neighbors are embarrassed by them. Many have disappeared into a netherworld of drugs, alcohol, poor health, loneliness, misogyny, economic insecurity, online gaming, pornography, other off-the-grid corners of the internet, and a fantasy world of starting their own business or even writing the Great American novel. Most of the men described in this book are poorly educated, with low incomes and often with very few prospects for rewarding employment. They are also disproportionately found among millennials, those over 50, and African American men. Increasingly, however, these lost men are discovered even in tony suburbs and throughout the nation. It is a myth that men on the outer corners of society are only lower-middle-class white men dislocated by technology and globalization. Unlike those who primarily blame an unjust economy, government policies, or a culture sanctioning "laziness," Man Out explores the complex interplay between economics and culture. It rejects the politically charged dichotomy of seeing such men as either victims or culprits. These men are hurting, and in turn they are hurting families and hurting America. It is essential to address their problems. Man Out draws on a wide range of data and existing research as well as interviews with several hundred men, women, and a wide variety of economists and other social scientists, social service providers and physicians, and with employers, through a national online survey and in-depth fieldwork in several communities.

From Stimulus to Consolidation

Juan Toro R.,Benedict J. Clements,Victoria J. Perry
From Stimulus to Consolidation Book PDF

Author : Juan Toro R.,Benedict J. Clements,Victoria J. Perry
Publisher : International Monetary Fund
Page : 122 pages
File Size : 43,5 Mb
Release : 2010-10-06
Category : Business & Economics
ISBN : 9781455217618

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From Stimulus to Consolidation by Juan Toro R.,Benedict J. Clements,Victoria J. Perry Pdf

This paper identifies policy tools that could be used for fiscal consolidation in advanced and emerging economies in the years ahead. The consolidation strategy, particularly in advanced countries, should aim to stabilize age-related spending in relation to GDP, reduce non-age-related expenditure ratios, and increase revenues. Bold reforms are needed to offset projected increases in age-related spending, particularly health care. On the revenue side, measures could include improving tax compliance, for example through better international cooperation, as well as increasing the yield from VAT by eliminating exemptions and reduced rates, further developing property taxes, and increasing excise rates within the range of rates already applicable in comparable countries.

Tax Expenditures in OECD Countries

OECD
Tax Expenditures in OECD Countries Book PDF

Author : OECD
Publisher : OECD Publishing
Page : 244 pages
File Size : 51,9 Mb
Release : 2010-01-05
Category : Electronic
ISBN : 9789264076907

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Tax Expenditures in OECD Countries by OECD Pdf

This book sheds light on the use of tax expenditures, mainly through a study of ten OECD countries: Canada, France, Germany, Japan, Korea, Netherlands, Spain, Sweden, the United Kingdom and the United States. It highlights key trends and successful practices.

The Value Added Tax and Growth: Design Matters

Mr.Santiago Acosta Ormaechea,Atsuyoshi Morozumi
The Value Added Tax and Growth Design Matters Book PDF

Author : Mr.Santiago Acosta Ormaechea,Atsuyoshi Morozumi
Publisher : International Monetary Fund
Page : 38 pages
File Size : 48,7 Mb
Release : 2019-05-07
Category : Business & Economics
ISBN : 9781498314183

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The Value Added Tax and Growth: Design Matters by Mr.Santiago Acosta Ormaechea,Atsuyoshi Morozumi Pdf

Does the design of a tax matter for growth? Assembling a novel dataset for 30 OECD countries over the 1970-2016 period, this paper examines whether the value added tax (VAT) may have different effects on long-run growth depending on whether it is raised through the standard rate or through C-efficiency (a measure of the departure of the VAT from a perfectly enforced tax levied at a single rate on all consumption). Our key findings are twofold. First, for a given total tax revenue, a rise in the VAT, financed by a fall in income taxes, promotes growth only when the VAT is raised through C-efficiency. Second, for a given VAT revenue, a rise in Cefficiency, offset by a fall in the standard rate, also promotes growth. The implication is thus that in OECD countries broadening the VAT base through fewer reduced rates and exemptions is more conducive to higher long-run growth than a rise in the standard rate.

Austerity

Alberto Alesina,Carlo Favero,Francesco Giavazzi
Austerity Book PDF

Author : Alberto Alesina,Carlo Favero,Francesco Giavazzi
Publisher : Princeton University Press
Page : 290 pages
File Size : 49,6 Mb
Release : 2020-12
Category : Business & Economics
ISBN : 9780691208633

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Austerity by Alberto Alesina,Carlo Favero,Francesco Giavazzi Pdf

A revealing look at austerity measures that succeed—and those that don't Fiscal austerity is hugely controversial. Opponents argue that it can trigger downward growth spirals and become self-defeating. Supporters argue that budget deficits have to be tackled aggressively at all times and at all costs. Bringing needed clarity to one of today's most challenging economic issues, three leading policy experts cut through the political noise to demonstrate that there is not one type of austerity but many. Austerity assesses the relative effectiveness of tax increases and spending cuts at reducing debt, shows that austerity is not necessarily the kiss of death for political careers as is often believed, and charts a sensible approach based on data analysis rather than ideology.