Tax Reform and Coordination in a Currency Union
We propose a two-country DSGE model to analyze short-term and long-term impact of a modification of consumption and labor tax rate in one country in a currency union. The model embodies the fact that firms differ in their pricing behavior after a VAT tax increase. Due to the common monetary policy, national tax policies have large spill-overs on the rest of the currency union. Furthermore, a fiscal devaluation is different from a nominal devaluation due to the common monetary policy.
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- Coenen, Günter & McAdam, Peter & Straub, Roland, 2008.
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Journal of Economic Dynamics and Control,
Elsevier, vol. 32(8), pages 2543-2583, August.
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"Economic Effects of VAT Reform in Germany,"
ZEW Discussion Papers
06-30, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
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"Un exercice de TVA sociale,"
2006-07, Centre de Recherche en Economie et Statistique.
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"An estimated dynamic stochastic general equilibrium model of the euro area,"
Working Paper Research
35, National Bank of Belgium.
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- Adjemian, S. & Cahn, C. & Devulder, A. & Maggiar, N., 2009.
"Variantes en Univers Incertain,"
236, Banque de France.
- Jerome Henry & Pablo Hernandez de Cos & Sandro Momigliano, 2004.
"The short-term impact of government budgets on prices; evidence from macroeconometric models,"
Temi di discussione (Economic working papers)
523, Bank of Italy, Economic Research and International Relations Area.
- jerome henry & sandro momigliano & pablo hernandez de cos, 2005. "The short-term impact of government budgets on prices Evidence from macroeconometric models," Macroeconomics 0501020, EconWPA.
- Jérôme Henry & Pablo Hernández de Cos & Sandro Momigliano, 2004. "The short-term impact of government budgets on prices: evidence from macroeconometrics models," Banco de Espa�a Working Papers 0418, Banco de Espa�a.
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