Read Options for Fiscal Consolidation in the United Kingdom

Options for Fiscal Consolidation in the United Kingdom

Dennis Petrus Johannes Botman

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Description:This paper examines the macroeconomic effects of different timing and composition of fiscal adjustment in the United Kingdom using the IMF's Global Fiscal Model. Early consolidation dampens aggregate demand in the short term, but increases output in the long term as smaller primary surpluses are needed as a result of lower interest payments. Reducing government transfers or current government spending provides larger gains than increasing taxes, in particular compared to raising corporate or personal income taxes. We show that these conclusions are robust under alternative behavioral assumptions and parameterizations. A reduction in global saving would make early consolidation more urgent from both cyclical and long-term perspectives. Finally, we show that tax reform aimed at increasing incentives to save could provide support to fiscal consolidation measuresWe have made it easy for you to find a PDF Ebooks without any digging. And by having access to our ebooks online or by storing it on your computer, you have convenient answers with Options for Fiscal Consolidation in the United Kingdom. To get started finding Options for Fiscal Consolidation in the United Kingdom, you are right to find our website which has a comprehensive collection of manuals listed.
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Pages: 28

Format: PDF, EPUB & Kindle Edition

Publisher: —

Release: 2006

ISBN: Pwu3AAAAIAAJ

Description: This paper examines the macroeconomic effects of different timing and composition of fiscal adjustment in the United Kingdom using the IMF's Global Fiscal Model. Early consolidation dampens aggregate demand in the short term, but increases output in the long term as smaller primary surpluses are needed as a result of lower interest payments. Reducing government transfers or current government spending provides larger gains than increasing taxes, in particular compared to raising corporate or personal income taxes. We show that these conclusions are robust under alternative behavioral assumptions and parameterizations. A reduction in global saving would make early consolidation more urgent from both cyclical and long-term perspectives. Finally, we show that tax reform aimed at increasing incentives to save could provide support to fiscal consolidation measuresWe have made it easy for you to find a PDF Ebooks without any digging. And by having access to our ebooks online or by storing it on your computer, you have convenient answers with Options for Fiscal Consolidation in the United Kingdom. To get started finding Options for Fiscal Consolidation in the United Kingdom, you are right to find our website which has a comprehensive collection of manuals listed.
Our library is the biggest of these that have literally hundreds of thousands of different products represented.

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Options for Fiscal Consolidation in the United Kingdom

Options for Fiscal Consolidation in the United Kingdom

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