| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP16846 |
| DP16846 Consolidating the Covid Debt | |
| Christian Keuschnigg; Julian Johs; Jacob Stevens | |
| 发表日期 | 2021-12-29 |
| 出版年 | 2021 |
| 语种 | 英语 |
| 摘要 | One of the main functions of public debt is to smooth taxes and spending over time. In the Covid crisis, the Maastricht deficit restrictions were temporarily suspended to allow for large temporary deficits. As recovery sets in, countries are confronted with the task of consolidating the Covid debt. This paper explores a fiscal consolidation strategy combined with growth enhancing tax and expenditure reform. We quantitatively illustrate that this reform based strategy, by reaping substantial efficiency gains and inducing strong growth, eliminates the Covid debt, protects per capita social entitlements and yet avoids increasing tax rates. With slow consolidation, marginal tax rates are reduced right from the beginning. |
| 主题 | Macroeconomics and Growth ; Public Economics |
| 关键词 | Covid debt Fiscal consolidation Tax and expenditure reform Growth |
| URL | https://cepr.org/publications/dp16846 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/545769 |
| 推荐引用方式 GB/T 7714 | Christian Keuschnigg,Julian Johs,Jacob Stevens. DP16846 Consolidating the Covid Debt. 2021. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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