| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w5086 |
| 来源ID | Working Paper 5086 |
| Supply-Side Economics in a Global Economy | |
| Enrique G. Mendoza; Linda L. Tesar | |
| 发表日期 | 1995-04-01 |
| 出版年 | 1995 |
| 语种 | 英语 |
| 摘要 | Recent quantitative studies predict large welfare gains from reducing tax distortions in a closed economy, despite costly transitional dynamics to more efficient tax systems. This paper examines transitional dynamics and gains of tax reforms for countries in a global economy, and provides numerical solutions for international tax competition games. Tax reforms in a global economy cause cross-country externalities through capital flows in response to consumption-smoothing and debt-servicing effects, with taxes on world payments affecting the distribution of welfare gains. Within the class of time-invariant tax rates, the gains of replacing income taxes with consumption taxes are large and, in the absence of taxes on foreign assets, the monopoly distortion separating cooperative and noncooperative equilibria is negligible. The analysis starts from a benchmark reflecting current G-7 fiscal policies, and considers the effects of tax reforms on real exchange rates and interest differentials. Tax-distorted equilibrium dynamics are computed using a modified version of the King-Plosser-Rebelo algorithm augmented with shooting routines. |
| 主题 | Macroeconomics ; Fiscal Policy ; International Economics ; International Macroeconomics |
| URL | https://www.nber.org/papers/w5086 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/562521 |
| 推荐引用方式 GB/T 7714 | Enrique G. Mendoza,Linda L. Tesar. Supply-Side Economics in a Global Economy. 1995. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w5086.pdf（749KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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