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Automatic Fiscal Stabilizers

Automatic Fiscal Stabilizers »

Source: Automatic Fiscal Stabilizers

Volume/Issue: 2009/23

Series: IMF Staff Position Notes

Author(s): Steven Symansky , and Thomas Baunsgaard

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 28 September 2009

ISBN: 9781455290567

Keywords: Fiscal stability, macroeconomic stabilization, personal income tax, income tax, taxes, fiscal policy, tax rates

This paper discusses how to enhance automatic stabilizers without increasing the size of government. We distinguish between permanent changes in the parameters of the tax and expenditure system (e.g., changes in ta...

Budget Consolidation

Budget Consolidation »

Source: Budget Consolidation : Short-Term Pain and Long-Term Gain

Volume/Issue: 2010/163

Series: IMF Working Papers

Author(s): Douglas Laxton , Susanna Mursula , Kevin Clinton , and Michael Kumhof

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2010

ISBN: 9781455201464

Keywords: current account imbalances, tax reform, income taxes, consumption taxes, Open Economy Macroeconomics, International Policy Coordination and Transmission, Fiscal Policies and Behavior of Economic Agents: General,

The paper evaluates the costs and benefits of fiscal consolidation using simulations based on the IMFs global DSGE model GIMF. Over the longer run, well-targeted permanent reductions in budget deficits lead to a co...

Capital Structure and International Debt Shifting

Capital Structure and International Debt Shifting »

Source: Capital Structure and International Debt Shifting

Volume/Issue: 2007/39

Series: IMF Working Papers

Author(s): Luc Laeven , Harry Huizinga , and Gaetan Nicodeme

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 2007

ISBN: 9781451866032

Keywords: tax rate, tax system, international tax, foreign tax, tax incentive, Article,

This paper presents a model of a multinational firm's optimal debt policy that incorporates international taxation factors. The model yields the prediction that a multinational firm's indebtedness in a country depe...

Causes, Benefits, and Risks of Business Tax Incentives

Causes, Benefits, and Risks of Business Tax Incentives »

Source: Causes, Benefits, and Risks of Business Tax Incentives

Volume/Issue: 2009/21

Series: IMF Working Papers

Author(s): Alexander Klemm

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2009

ISBN: 9781451871685

Keywords: effective tax rates, tax system, tax rates, taxation,

This paper provides an updated overview of tax incentives for business investment. It begins by noting that tax competition is likely to be a major force driving countries' tax reforms, and discusses tax incentives...

Coordinating Climate and Trade Policies

Coordinating Climate and Trade Policies »

Source: Coordinating Climate and Trade Policies : Pareto Efficiency and the Role of Border Tax Adjustments

Volume/Issue: 2012/289

Series: IMF Working Papers

Author(s): Michael Keen , and Christos Kotsogiannis

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 07 December 2012

ISBN: 9781475552942

Keywords: Environmental taxation, cap-and-trade, Pareto efficiency, border tax adjustments, carbon taxes, border tax, trade policies, trade taxes, Trade and Environment, General,

This paper explores the role of trade instruments in globally efficient climate policies, focusing on the central issue of whether some form of border tax adjustment (BTA) is warranted when carbon prices differ int...

 Corporate Income Tax Harmonization and Capital Allocation

Corporate Income Tax Harmonization and Capital Allocation »

Source: Corporate Income Tax Harmonization and Capital Allocation

Volume/Issue: 1990/103

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 1990

ISBN: 9781451948035

Keywords: cost of capital, capital stock, effective tax rates, tax systems, inflation rate

The IMF Working Papers series is designed to make IMF staff research available to a wide audience. Almost 300 Working Papers are released each year, covering a wide range of theoretical and analytical topics, inclu...

The Disappearing Tax Base

The Disappearing Tax Base »

Source: The Disappearing Tax Base : Is Foreign Direct Investment (FDI) Eroding Corporate Income Taxes?

Volume/Issue: 2000/173

Series: IMF Working Papers

Author(s): Reint Gropp , and Kristina Kostial

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 2000

ISBN: 9781451858624

Keywords: Corporate taxation, simulations, OECD countries, corporate tax, tax rate, tax revenues, corporate income tax, corporate tax rate

This paper analyzes the link between FDI, corporate taxation, and corporate tax revenues. We find strong evidence that FDI in (out) flows are affected by tax regimes in the host (home) countries and FDI flows in tu...

Effective Average Tax Rates for Permanent Investment

Effective Average Tax Rates for Permanent Investment »

Source: Effective Average Tax Rates for Permanent Investment

Volume/Issue: 2008/56

Series: IMF Working Papers

Author(s): Alexander Klemm

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2008

ISBN: 9781451869187

Keywords: effective tax rates, discrete investment, tax holidays, tax rates, taxation, personal taxes, capital stock,

This paper extends the effective average tax rate (EATR) developed in Devereux and Griffith (2003) by relaxing the assumption of a one-period perturbation in the capital stock. Instead it allows a permanent investm...

Effects of the European Economic and Monetary Union (EMU) on Taxation and Interest Spending of National Governments

Effects of the European Economic and Monetary Union (EMU) on Taxation and Interest Spending of National Governments »

Source: Effects of the European Economic and Monetary Union (EMU) on Taxation and Interest Spending of National Governments

Volume/Issue: 1997/93

Series: IMF Working Papers

Author(s): Francesco Mongelli

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 1997

ISBN: 9781451951271

Keywords: economic integration, tax harmonization, joint analysis of monetary and fiscal policy, European Monetary Union, taxation, fiscal discipline, public debt, tax systems

This paper examines the interest spending and taxation channels through which EMU could affect the public finances. It provides a framework for examining different views on a further narrowing of interest rate diff...

Environmental Tax Reform

Environmental Tax Reform »

Source: Environmental Tax Reform : Principles from Theory and Practice to Date

Volume/Issue: 2012/180

Series: IMF Working Papers

Author(s): Ian Parry , John Norregaard , and Dirk Heine

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2012

ISBN: 9781475505283

Keywords: design principles, externalities, fuel taxes, country evaluation, environmental tax, tax systems, tax reform, tax system, Nonrenewable Resources and Conservation: Government Policy, Energy: Government Policy,

This paper recommends a system of upstream taxes on fossil fuels, combined with refunds for downstream emissions capture, to reduce carbon and local pollution emissions. Motor fuel taxes should also account for con...