Showing 1 - 10 of 1,465
Economic growth is projected to be strengthening from mid-2011 onwards, but will be insufficient to restore the … increased. This will require cuts in public spending, improving efficiency of policies, containing the growth of ageing …-related costs and making the tax system more conducive to growth. While past experiences, such as in the 1990s, have shown that …
Persistent link: https://www.econbiz.de/10009690151
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Persistent link: https://www.econbiz.de/10013384207
This paper contributes to the scarce literature on the macroeconomic effects of property taxes, in particular on the relationships between property taxes, house prices and the wider economy. The paper first estimates a fiscal reaction function which analysis the reaction of property tax revenues...
Persistent link: https://www.econbiz.de/10011399542
This paper provides an overview of fiscal consolidation efforts at the central and sub-central government level, both during the current and past consolidation episodes. After experiencing a deficit and debt hike during the crisis, sub-central debt is mostly stabilising. So far, sub-central...
Persistent link: https://www.econbiz.de/10009769643
Accumulating debt raises concerns about its implications for macroeconomic stability. This paper sheds light on the implications of high indebtedness for the macroeconomic volatility by identifying the main drivers of the evolution of debt in a set of countries. The country choice was based on...
Persistent link: https://www.econbiz.de/10009696439
The main features of China’s current sub-national finance arrangements date back to the 1994 tax reform. China has a multi-level government structure that shares national tax revenues through a system of tax sharing and transfers, and divides spending assignments and responsibilities. Local...
Persistent link: https://www.econbiz.de/10009711209
This paper re-estimates the elasticities of government revenue and expenditure items with respect to the output gap for OECD countries. These elasticities are used by the OECD to calculate cyclically adjusted fiscal balances. The study updates the earlier 2005 study using the most recent...
Persistent link: https://www.econbiz.de/10011576962
Malaysia has sustained over four decades of rapid, inclusive growth, reducing its dependence on agriculture and … economies, while poverty and income inequality have declined considerably. Growth has also been remarkably resilient in the face … policy. Further reforms are needed for Malaysia to become a high-income nation around 2020: productivity growth needs to be …
Persistent link: https://www.econbiz.de/10011700166