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Study on the Impacts of Fiscal Devaluation

Author

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  • CPB Netherlands

    (CPB Netherlands)

  • CAPP

    (CAPP)

Abstract

The main research question of the project is summarized as: What are the macroeconomic and distributional consequences of fiscal devaluation for a selection of countries and the EU as a whole? The selected countries are France, Italy, Spain and Austria. The project aims to perform four tasks: 1. Provide a review of the impacts of fiscal devaluations in the light of economic literature and former studies. 2. Use suitable models to analyse macroeconomic impacts of fiscal devaluation in the selected countries and do a comparative analysis of the results obtained in different countries. 3. Analyse distributional impact of fiscal devaluations with the help of models in the selected countries and link these results, if possible, to the macro-level analysis. 4. Analyse the suitability of the policy for the EU as a whole with the help of model simulations and in the light of the country-specific results.

Suggested Citation

  • CPB Netherlands & CAPP, 2013. "Study on the Impacts of Fiscal Devaluation," Taxation Papers 36, Directorate General Taxation and Customs Union, European Commission.
  • Handle: RePEc:tax:taxpap:0036
    as

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    File URL: https://ec.europa.eu/taxation_customs/sites/taxation/files/resources/documents/taxation/gen_info/economic_analysis/tax_papers/taxation_paper_36_en.pdf
    File Function: final version, 2013
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    References listed on IDEAS

    as
    1. Stefan Boeters & Christoph Bohringer & Thiess Buttner & Margit Kraus, 2010. "Economic effects of VAT reforms in Germany," Applied Economics, Taylor & Francis Journals, vol. 42(17), pages 2165-2182.
    2. William T. Dickens & Lorenz Goette & Erica L. Groshen & Steinar Holden & Julian Messina & Mark E. Schweitzer & Jarkko Turunen & Melanie E. Ward, 2007. "How Wages Change: Micro Evidence from the International Wage Flexibility Project," Journal of Economic Perspectives, American Economic Association, vol. 21(2), pages 195-214, Spring.
    3. Emmanuel Farhi & Gita Gopinath & Oleg Itskhoki, 2014. "Fiscal Devaluations," Review of Economic Studies, Oxford University Press, vol. 81(2), pages 725-760.
    4. André Decoster & Jason Loughrey & Cathal O'Donoghue & Dirk Verwerft, 2010. "How regressive are indirect taxes? A microsimulation analysis for five European countries," Journal of Policy Analysis and Management, John Wiley & Sons, Ltd., vol. 29(2), pages 326-350.
    5. Jing Xing, 2011. "Does tax structure affect economic growth? Empirical evidence from OECD countries," Working Papers 1120, Oxford University Centre for Business Taxation.
    6. Copenhagen Economics, 2007. "Study on reduced VAT applied to goods and services in the Member States of the EU," Taxation Studies 0018, Directorate General Taxation and Customs Union, European Commission.
    7. Emmanuel Saez & Manos Matsaganis & Panos Tsakloglou, 2012. "Earnings Determination and Taxes: Evidence From a Cohort-Based Payroll Tax Reform in Greece," The Quarterly Journal of Economics, Oxford University Press, vol. 127(1), pages 493-533.
    8. Calmfors, Lars, 1998. "Macroeconomic Policy, Wage Setting, and Employment--What Difference Does the EMU Make?," Oxford Review of Economic Policy, Oxford University Press, vol. 14(3), pages 125-151, Autumn.
    9. Martin S. Feldstein & Paul R. Krugman, 1990. "International Trade Effects of Value-Added Taxation," NBER Chapters,in: Taxation in the Global Economy, pages 263-282 National Bureau of Economic Research, Inc.
    10. Massimo Baldini & Daniele Pacifico, 2009. "The Recent reforms of the Italian Personal Income Tax: Distributive and Efficiency Effects," Rivista italiana degli economisti, Società editrice il Mulino, issue 1, pages 191-218.
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    Citations

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    Cited by:

    1. Heshmati, Almas & Kim, Jungsuk, 2014. "A Survey of the Role of Fiscal Policy in Addressing Income Inequality, Poverty Reduction and Inclusive Growth," IZA Discussion Papers 8119, Institute for the Study of Labor (IZA).
    2. Treyer, Karin & Bauer, Christian & Simons, Andrew, 2014. "Human health impacts in the life cycle of future European electricity generation," Energy Policy, Elsevier, vol. 74(S1), pages 31-44.

    More about this item

    Keywords

    European Union; Taxation; fiscal devaluation; redistribution;

    JEL classification:

    • H21 - Public Economics - - Taxation, Subsidies, and Revenue - - - Efficiency; Optimal Taxation
    • H23 - Public Economics - - Taxation, Subsidies, and Revenue - - - Externalities; Redistributive Effects; Environmental Taxes and Subsidies
    • H24 - Public Economics - - Taxation, Subsidies, and Revenue - - - Personal Income and Other Nonbusiness Taxes and Subsidies
    • H31 - Public Economics - - Fiscal Policies and Behavior of Economic Agents - - - Household

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