This paper reports on a sixteen-sector five asset general equilibrium tax model of the UK economy benchmarked to the 1995 data set received from the Inland Revenue. We use this model to access the impacts o capital income taxes, labour income taxes, indirect taxes, and tariffs.

This paper investigates a Bayesian approach for examining posterior distributions of several inequality, concentration, tax progressivity and social welfare measures.

Shortly after the re-election of the Howard government in October 1998 a group of five prominent economists proposed a plan to 'cut the jobless rate' in an open letter addresses to the Prime Minister (The Australian, October 26 1998). This article seeks to critically consider the economist's...

Why did the West grow so rapidly over the last 500 years, while much of therest of the world stagnated? And why several countries, especially in East Asia, grown so fast over the last half-century? If we can understand these growth experiences, and identify the forces which made them possible,...

We present the "fixed exchange rate" version of the Obstfeld and Rogoff model analyze the international transmission of fiscal policy shocks. It is shown that the welfare effects of an unanticipated contraction in government expenditure in the home country crucially depend on the way in which...

The 21st century will be very important for China. In this century, China will strive for the achievement of modernisation, while improving the welfare of its huge population which will peak during this time. Xinjiang will supply more than one quarter of oil and gas production for China; it will...

"Green NNP" is a national accounting concept that substracts off from GNP not just depreciation of capital, but also depletion of environmental assets evaluated at competitive of efficiency prices. Recent literature shows that, for a time-autonomous technology, Green NNP has regorous welfare...

This paper presents an empirical analysis of the welfare effects of several indirect tax reforms in Australia. The welfare changes are measured in terms of equivalent variations and equivalent incomes, using estimates of the linear expenditure system for each of a range of income groups. The...