G2TT
来源类型Discussion paper
规范类型论文
来源IDDP16846
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
URLhttps://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.
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