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Australian Evidence on Tax Smoothing and the Optimal Budget Surplus

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Author Info

  • Olekalns, N.

Abstract

This paper tests a version of Barro's tax smoothing hypothesis using Australian data for the period 1964/65 to 194/95. The model assumes intertemporal optimisation by a government ssking to minimise the distortionary effects of tax collection.

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Bibliographic Info

Paper provided by The University of Melbourne in its series Department of Economics - Working Papers Series with number 538.

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Length: 25 pages
Date of creation: 1996
Date of revision:
Handle: RePEc:mlb:wpaper:538

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Postal: Department of Economics, The University of Melbourne, 5th Floor, Economics and Commerce Building, Victoria, 3010, Australia
Phone: +61 3 8344 5289
Fax: +61 3 8344 6899
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Web page: http://www.economics.unimelb.edu.au
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Related research

Keywords: TAX POLICY; PUBLIC FINANCE;

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References

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  1. Ghosh, Atish R, 1995. "Intertemporal Tax-Smoothing and the Government Budget Surplus: Canada and the United States," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 27(4), pages 1033-45, November.
  2. Sheffrin, Steven M. & Woo, Wing Thye, 1990. "Present value tests of an intertemporal model of the current account," Journal of International Economics, Elsevier, vol. 29(3-4), pages 237-253, November.
  3. Alberto Alesina & Roberto Perotti, 1995. "The Political Economy of Budget Deficits," IMF Staff Papers, Palgrave Macmillan, vol. 42(1), pages 1-31, March.
  4. Barro, Robert J., 1979. "On the Determination of the Public Debt," Scholarly Articles 3451400, Harvard University Department of Economics.
  5. Maurice Obstfeld & Kenneth S. Rogoff, 1996. "Foundations of International Macroeconomics," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262150476.
  6. de Bartolome, Charles A. M., 1995. "Which tax rate do people use: Average or marginal?," Journal of Public Economics, Elsevier, vol. 56(1), pages 79-96, January.
  7. Ghosh, Atish R, 1995. "International Capital Mobility amongst the Major Industrialised Countries: Too Little or Too Much?," Economic Journal, Royal Economic Society, vol. 105(428), pages 107-28, January.
  8. Kingston, Geoffrey H & Layton, Allan P, 1986. "The Tax Smoothing Hypothesis: Some Australian Empirical Results," Australian Economic Papers, Wiley Blackwell, vol. 25(47), pages 247-51, December.
  9. Campbell, John Y, 1987. "Does Saving Anticipate Declining Labor Income? An Alternative Test of the Permanent Income Hypothesis," Econometrica, Econometric Society, vol. 55(6), pages 1249-73, November.
  10. Otto, Glenn, 1992. "Testing a present-value model of the current account: Evidence from US and Canadian time series," Journal of International Money and Finance, Elsevier, vol. 11(5), pages 414-430, October.
  11. Geweke, John F & Meese, Richard, 1981. "Estimating Regression Models of Finite but Unknown Order," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 22(1), pages 55-70, February.
  12. Huang, Chao-Hsi & Lin, Kenneth S., 1993. "Deficits, government expenditures, and tax smoothing in the United States: 1929-1988," Journal of Monetary Economics, Elsevier, vol. 31(3), pages 317-339, June.
  13. Engle, Robert F & Granger, Clive W J, 1987. "Co-integration and Error Correction: Representation, Estimation, and Testing," Econometrica, Econometric Society, vol. 55(2), pages 251-76, March.
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Citations

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Cited by:
  1. Luo, Yulei & Nie, Jun & Young, Eric, 2014. "Model Uncertainty and Intertemporal Tax Smoothing," MPRA Paper 54268, University Library of Munich, Germany.
  2. Tilak Abeysinghe & Ananda Jayawickrama, 2007. "Singaporeã¢Â‚¬Â„¢S Recurrent Budget Surplus The Role Of Conservative Growth Forecasts," Macroeconomics Working Papers 22557, East Asian Bureau of Economic Research.
  3. Adler, Johan, 2003. "Has Sweden’s government budget policy been too discretionary? Evidence from a generalization of the tax smoothing hypothesis," Working Papers in Economics 89, University of Gothenburg, Department of Economics.
  4. Tilak Abeysinghe & Ananda Jayawickrama, 2007. "Singapore’s Recurrent Budget Surplus The Role of Conservative Growth Forecasts," SCAPE Policy Research Working Paper Series 0704, National University of Singapore, Department of Economics, SCAPE.
  5. R. Pasten & J. P. Cover, 2011. "Does the Chilean government smooth taxes? A tax-smoothing model with revenue collection from a natural resource," Applied Economics Letters, Taylor & Francis Journals, vol. 18(5), pages 421-425.
  6. Cashin, Paul & Ul Haque, Nadeem & Olekalns, Nilss, 2003. "Tax smoothing, tax tilting and fiscal sustainability in Pakistan," Economic Modelling, Elsevier, vol. 20(1), pages 47-67, January.
  7. Ananda Jayawickrama & Tilak Abeysinghe, 2013. "The experience of some OECD economies on tax smoothing," Applied Economics, Taylor & Francis Journals, vol. 45(16), pages 2305-2313, June.
  8. Johan Adler, 2006. "The Tax-smoothing Hypothesis: Evidence from Sweden, 1952-1999," Scandinavian Journal of Economics, Wiley Blackwell, vol. 108(1), pages 81-95, 03.
  9. Cashin, P. & Haque, N. & Olekalns, N., 1999. "Spend Now, Pay Later? Tax Smoothing & Fiscal Sustainability in South Asia," Department of Economics - Working Papers Series 700, The University of Melbourne.
  10. Gerhard Reitschuler, 2010. "Fiscal Policy And Optimal Taxation: Evidence From A Tax Smoothing Exercise," Scottish Journal of Political Economy, Scottish Economic Society, vol. 57(2), pages 238-252, 05.
  11. Roberto Pasten & James P. Cover, 2010. "The Political Economy of Unsustainable Fiscal Deficits," Latin American Journal of Economics-formerly Cuadernos de Economía, Instituto de Economía. Pontificia Universidad Católica de Chile., vol. 47(136), pages 169-189.

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