This paper examines Singapore's fiscal position and its unique way of financing targeted welfare programs. We examine how reserves are accumulated through fiscal discipline during times of phenomenal economic growth in Singapore and when Singapore was enjoying demographic dividend. The existence...

In this paper we use a general equilibrium model of Vietnam, calibrated to 1995 data, to analyze tax reform options for Vietnam. We focus on aggregate welfare impacts as well as welfare of household groups ranked by income. The main focus is on indirect tax reform (VAT), but we also examine...

This paper presents a simple general equilibrium model involving trips from residential areas to a central business district, along with modal choice between cars and public transit. Using a calibrated numerical model, we investigate the relative merits of ownership and use taxes. The proposed...

Existing literature ignores adaptation responses to external effects which, in turn, affect the design of appropriate internalization instruments. We use general equilibrium numerical simulation models based on OECD and UK data to analyze the significance of these responses to congestion...