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Author: John Creedy
Publisher: Edward Elgar Publishing
ISBN: 9781781958438
Category : Business & Economics
Languages : en
Pages : 248
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Book Description
"Providing extensions of analysis to cover indirect taxes, and direct and indirect taxes combined, as well as empirical applications for several countries, Modelling Tax Revenue Growth will be warmly welcomed by researchers and graduate students interested in public finance and government officials and those in international organisations interested in tax revenue growth."--BOOK JACKET.
Author: John Creedy
Publisher: Edward Elgar Publishing
ISBN: 9781781958438
Category : Business & Economics
Languages : en
Pages : 248
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Book Description
"Providing extensions of analysis to cover indirect taxes, and direct and indirect taxes combined, as well as empirical applications for several countries, Modelling Tax Revenue Growth will be warmly welcomed by researchers and graduate students interested in public finance and government officials and those in international organisations interested in tax revenue growth."--BOOK JACKET.
Author: John Creedy
Publisher: Edward Elgar Publishing
ISBN: 9781848447653
Category : Corporations
Languages : en
Pages : 0
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Book Description
Modelling Corporation Tax Revenue examines the revenue growth properties of corporate income taxes and how firms respond to changes in corporation tax. It provides a companion volume to the authors' Modelling Tax Revenue Growth, which explores the revenue growth and behavioural response properties of income and consumption taxes.
Author: Paul Bernd Spahn
Publisher: Springer
ISBN: 1349141097
Category : Business & Economics
Languages : en
Pages : 259
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Book Description
Governments need to know how much revenue their tax systems will raise, who will pay tax and what the effects on the incentives to save, work and invest will be. This book draws on the experience of tax modelling in western European economies and economies in transition to show the range of techniques involved from 'back of the envelope' calculations to sophisticated econometrics. Personal and corporate income taxes are considered, as well as the essential task of developing an appropriate database.
Author: Mr.Gian Milesi-Ferretti
Publisher: International Monetary Fund
ISBN: 1451848234
Category : Business & Economics
Languages : en
Pages : 38
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Book Description
The effects of income and consumption taxation are examined in the context of models in which the growth process is driven by the accumulation of human and physical capital. The different channels through which these taxes affect economic growth are discussed, and it is shown that in general the taxation of factor incomes (human and physical capital) is growth-reducing. The effects of consumption taxation on growth depend crucially on the elasticity of labor supply, and therefore on the specification of the leisure activity. The paper also derives some implications for the optimal intertemporal choice of tax instruments.
Author: Randall G. Holcombe
Publisher: Praeger
ISBN:
Category : Business & Economics
Languages : en
Pages : 234
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Book Description
During recessions state government fiscal crises are widespread, as states find their revenues inadequate to meet their expenditure demands. This volume shows that state fiscal crises have only one significant cause: revenue downturns associated with recessions. Other analysts have argued that fiscal crises are the result of an interaction of many complex causes, including inadequate tax bases, increasing expenditure demands, and limits placed on state governments by voters. This analysis examines these other factors and shows that while they present significant challenges to state policymakers, they are not the cause of fiscal crises. The book presents an improved methodology for measuring cyclical variability of revenues and uses this methodology to show that there is no way to restructure state tax systems in order to appreciably reduce the fiscal stress associated with recessions. Fiscal stress can be lessened by setting aside revenues during prosperous years in a rainy day fund, but current rainy day funds are not large enough to eliminate the fiscal stress caused by recessions.
Author: Bin Xu
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 46
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Book Description
This paper surveys the tax policy implications in various endogenous growth models. The focus is on the long-run growth effects of income, consumption, and investment taxation in models whose engine of growth is the accumulation of human capital, technological innovation, and/or public infrastructure. The results depend on model specifications. This paper also reviews quantitative results from cross-country regressions and simulations, and indicates some statistical and methodological problems to which they are subject. Tax policy implications in endogenous growth models both with tax policy endogenously determined by a political process and with international capital mobility are also discussed.
Author: Mrs.Sandra V Lizarazo Ruiz
Publisher: International Monetary Fund
ISBN: 1484316584
Category : Business & Economics
Languages : en
Pages : 32
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Book Description
This paper assesses the macroeconomic and distributional impact of personal income tax (PIT) reforms in the U.S. drawing on a multi-sector heterogenous agents model in which consumers have non-homothetic preferences and sectors differ in terms of their relative labor and skill intensity. The model is calibrated to key characteristics of the US economy. We find that (i) PIT cuts stimulate growth but the supply side effects are never large enough to offset the revenue loss from lower marginal tax rates; (ii) PIT cuts do “trickle-down” the income distribution: tax cuts stimulate demand for non-tradable services which raise the wages and employment prospects of low-skilled workers even if the tax cut is not directly incident on them; (iii) A revenue neutral tax plan that reduces PIT for middle-income groups, raises the consumption tax, and expands the Earned Income Tax Credit can have modestly positive effects on growth while reducing income polarization; (iv) The growth effects from lower income taxes are concentrated in non-tradable service sectors although the increased demand for tradable goods generate positive spillovers to other countries; (v) Tax cuts targeted to higher income groups have a stronger growth impact than tax cuts for middle income households but significantly worsen income polarization, even after taking into account trickle-down effects and an expansion of the Earned Income Tax Credit.
Author: John P. Hutton
Publisher:
ISBN:
Category :
Languages : en
Pages : 11
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Book Description
Author: Anthony Welsch
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
State tax revenue forecasting is critical to states' fiscal planning because many states have constitutions or laws that require a balanced budget and restrict borrowing to fund deficits. We present three main findings about state tax revenue growth forecasts and state-specific aggregate public-company earnings growth. First, state tax revenue growth forecasts and aggregate earnings growth both predict future tax revenue growth, yet these two measures are not correlated. Second, adding aggregate earnings growth to a linear model that predicts state tax revenue growth with states' own revenue forecasts increases the explanatory power of the model by a factor of 1.72. Third, aggregate earnings growth increases the explanatory power of models of all major state tax types--personal income, sales, and corporate income--and contains relevant information about future state economic activity (e.g., GDP, employment, and consumption). However, we find that the predictive power of earnings for forecasting state tax revenue growth goes beyond its usefulness in predicting general state economic indicators. Taken together, these results suggest that aggregate earnings growth is a useful and unique predictor of state tax revenues that is omitted from current forecasting models. Because accurate revenue forecasts are necessary for the efficient allocation of government resources, these findings should be useful to those who prepare, monitor, or are otherwise affected by state tax revenue forecasting and budgeting.
Author: Heimler
Publisher: Springer Science & Business Media
ISBN: 9401115389
Category : Business & Economics
Languages : en
Pages : 303
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Book Description
Alberto Heimler and Daniele Meulders In the last decade the modelling of the interrelationship between public finance and the rest of the economy has seen substantial advances, reflected in many of the papers delivered to the Applied Econometrics Association Conference held at Confindustria, Rome, on 30 November and 1 December 1989. In particular, the development of the literature on applied general-equilibrium modelling has found most of its applications in the field of taxation, enlarging and completing the estimation of the welfare loss due to distortionary taxes. In this context an important extension has been the introduction of overlapping-generation models. Furthermore, it has become clear that most individual decisions, especially the decision whether or not to work, are dependent upon the tax system, in the sense that the higher the marginal income tax the larger the wedge between labour cost and take-home pay, the last one being the decision variable in the demand for leisure. Finally, in the European context, the completion of the internal market has brought about the necessity to harmonize fiscal systems in the EEC member countries. A number of papers study, therefore, the effects of fiscal reform on efficiency, welfare and growth.
