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.
|Date of creation:||Oct 2012|
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- Coenen, Günter & McAdam, Peter & Straub, Roland, 2007.
"Tax reform and labour-market performance in the euro area: a simulation-based analysis using the New Area-Wide Model,"
Working Paper Series
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- Boeters, Stefan & Böhringer, Christoph & Büttner, Thiess & Kraus, Margit, 2006.
"Economic Effects of VAT Reform in Germany,"
ZEW Discussion Papers
06-30, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
- 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.
- Jérôme Henry & Pablo Hernández de Cos & Sandro Momigliano, 2004. "The short-term impact of government budgets on prices: evidence from macroeconometrics models," Working Papers 0418, Banco de España;Working Papers Homepage.
- 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.
- Frank Smets & Raf Wouters, 2002.
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- Frank Smets & Raf Wouters, 2003. "An Estimated Dynamic Stochastic General Equilibrium Model of the Euro Area," Journal of the European Economic Association, MIT Press, vol. 1(5), pages 1123-1175, 09.
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