Optimal taxation and budget deficits: Evidence for the EU's New Member States
AbstractThe tax smoothing hypothesis (TSH) is tested for the New Member States of the European Union. Our results show that the TSH holds for five countries, the introduction of the Maastricht 3%-deficit rule, however, had very little effect with regard to the validity of the TSH.
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Bibliographic InfoArticle provided by AccessEcon in its journal Economics Bulletin.
Volume (Year): 31 (2011)
Issue (Month): 3 ()
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Tax smoothing; Government budget constraint; Fiscal rule; Cointegration;
Find related papers by JEL classification:
- E6 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook
- H2 - Public Economics - - Taxation, Subsidies, and Revenue
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