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In 2005, the German government announced a far-reaching fiscal adjustment program. This paper uses the IMF’s Global Fiscal Model to study its impact and explores options for addressing long-term pressures from population aging. The growth effects of the planned VAT increase are likely modest,...
Persistent link: https://www.econbiz.de/10014400580
Persistent link: https://www.econbiz.de/10009679023
Real estate investment accounts for a quarter of total fixed asset investment (FAI) in China. The real estate sector … estate investment in China though a low-probability event would be sizable, with large spillovers to a number of China … and the rest of the G20 economies, we find that a 1-percent decline in China's real estate investment would shave about 0 …
Persistent link: https://www.econbiz.de/10009679024
Over the past decade, China’s growth model has become more reliant on investment and its footprint in global imports … has widened substantially. Several economies within China’s supply chain are increasingly exposed to its investment …-led growth and face growing risks from a deceleration in investment in China. This note quantifies potential global spillovers …
Persistent link: https://www.econbiz.de/10014395581
Real estate investment accounts for a quarter of total fixed asset investment (FAI) in China. The real estate sector … estate investment in China—though a low-probability event—would be sizable, with large spillovers to a number of China … and the rest of the G20 economies, we find that a 1-percent decline in China’s real estate investment would shave about 0 …
Persistent link: https://www.econbiz.de/10014395603
Our study uses administrative data on firm-to-firm transactions and quasi- experimental variation in the rollout of electronic invoicing reforms in Peru to study the diffusion of e-invoicing through firm networks and its effect on tax compliance. We find that voluntary e-invoicing adoption is...
Persistent link: https://www.econbiz.de/10013169955
This paper describes, and where possible tentatively quantifies, likely tax spillovers from the U.S. corporate income tax reform that was part of the broader 2017 tax reform. It calculates effective tax rates under various assumptions, showing among other findings, how the interest limitation...
Persistent link: https://www.econbiz.de/10011878729
The empirical analysis in ""International R&D Spillovers"" (Coe and Helpman, 1995) is first revisited by applying modern panel cointegration estimation techniques to an expanded data set that we have constructed for the purpose of this study. The new estimates confirm the key results reported in...
Persistent link: https://www.econbiz.de/10014400689
The trade discussions between the U.S. and China are on-going. Not much is known about the shape and nature of a … suggest that, in the absence of a meaningful boost in China's domestic demand and imports, bilateral purchase commitments are …, machinery, and electronics by China. At the same time, a deal that puts greater emphasis on commodities would put small …
Persistent link: https://www.econbiz.de/10012154778
point to weak investment and rebalancing as the main causes of the import slowdown. Spillover effects from China …Asia and China made disproportionate contributions to the slowdown of global trade growth in 2015. China's import …
Persistent link: https://www.econbiz.de/10011711412