Tax Smoothing and Expenditure Creep
AbstractTax smoothing minimises the economic costs of raising taxes to finance a varying profile of expenditure. This standard result assumes that expenditure pressures do not vary with the short term fiscal position. In the presence of expenditure creep, however, tax smoothing is no longer optimal tax policy.
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Bibliographic InfoPaper provided by New Zealand Treasury in its series Treasury Working Paper Series with number 98/09.
Length: 6 pages
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- Nick Davis, 2001. "Does Crown Financial Portfolio Composition Matter?," Treasury Working Paper Series 01/34, New Zealand Treasury.
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