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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- Stéphane Gauthier, 2009.
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- Coenen, Günter & McAdam, Peter & Straub, Roland, 2008.
"Tax reform and labour-market performance in the euro area: A simulation-based analysis using the New Area-Wide Model,"
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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 0747, European Central Bank.
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- 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.
- Stefan Boeters & Christoph Bohringer & Thiess Buttner & Margit Kraus, 2010.
"Economic effects of VAT reforms in Germany,"
Taylor & Francis Journals, vol. 42(17), pages 2165-2182.
- Stéphane Adjemian & Christophe Cahn & Antoine Devulder & Nicolas Maggiar, 2008.
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Programme National Persée, vol. 183(2), pages 223-238.
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