A Deep Dive Into Tax Buoyancy: Comparing Estimation Techniques in a Large Heterogeneous Panel
A Deep Dive Into Tax Buoyancy: Comparing Estimation Techniques in a Large Heterogeneous Panel

Author: Antoine Cornevin

Publisher: International Monetary Fund

Published: 2023-03-17

Total Pages: 72

ISBN-13:

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This paper provides new empirical evidence on tax buoyancy (tax revenues responsiveness to changes in economic activity) over the period 1990-2020 using a large panel of 185 countries. This study compares short-term and long-term buoyancy coefficients for total tax revenues and different individual taxes by reviewing and contrasting a range of estimators. Our results broadly confirm the main body of the literature on long-term buoyancy hovering around one. We find evidence of lower estimates for short-term buoyancy relative to previous literature, suggesting a limited automatic stabilization power of taxes. As a robustness exercise, in addition to changes in tax rates, we introduce novel control variables for tax exemptions and bases to disentangle discretionary from automatic tax revenue changes. The marginal changes in the results when controlling for policy actions suggest that, on average, the economic cycle does not necessarily influence tax reforms.

Spain
Spain

Author: International Monetary

Publisher: International Monetary Fund

Published: 2024-06-06

Total Pages: 51

ISBN-13:

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Selected Issues

OECD Development Pathways Multi-dimensional Review of Lao PDR Financing Sustainable Development
OECD Development Pathways Multi-dimensional Review of Lao PDR Financing Sustainable Development

Author: OECD

Publisher: OECD Publishing

Published: 2024-06-06

Total Pages: 330

ISBN-13: 9264327789

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Lao People’s Democratic Republic (Lao PDR) has made significant headway on its development path over the past three decades. The country’s sustained economic growth has been led by booming commodity exports and substantial inflows of external financing. Many Laotians have seen significant improvements in their well-being. Poverty has declined as household income has increased, and many important development goals in education and health have been achieved. In the face of macroeconomic challenges, a shift from commodity-driven growth to a more inclusive prosperity paradigm that emphasises the creation of broad-based opportunities, human capital development and green sustainability can unlock Lao PDR’s future development. This report presents priorities for overcoming the country’s current fiscal constraints and finding ways to fund this shift. Recommendations address strengthening Lao PDR’s sustainable finance and debt management, revenue generation and tax reform, investment promotion, and data capacity in order to tap into green finance mechanisms.

Revenue Statistics 2023 Tax Revenue Buoyancy in OECD Countries
Revenue Statistics 2023 Tax Revenue Buoyancy in OECD Countries

Author: OECD

Publisher: OECD Publishing

Published: 2023-12-06

Total Pages: 366

ISBN-13: 9264988637

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This annual publication gives a conceptual framework to define which government receipts should be regarded as taxes. It presents a unique set of detailed and internationally comparable tax data in a common format for all OECD countries from 1965 onwards. This year’s edition includes a special feature on tax revenue buoyancy in OECD countries.

The Ocean and Cryosphere in a Changing Climate
The Ocean and Cryosphere in a Changing Climate

Author: Intergovernmental Panel on Climate Change (IPCC)

Publisher: Cambridge University Press

Published: 2022-04-30

Total Pages: 755

ISBN-13: 9781009157971

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The Intergovernmental Panel on Climate Change (IPCC) is the leading international body for assessing the science related to climate change. It provides policymakers with regular assessments of the scientific basis of human-induced climate change, its impacts and future risks, and options for adaptation and mitigation. This IPCC Special Report on the Ocean and Cryosphere in a Changing Climate is the most comprehensive and up-to-date assessment of the observed and projected changes to the ocean and cryosphere and their associated impacts and risks, with a focus on resilience, risk management response options, and adaptation measures, considering both their potential and limitations. It brings together knowledge on physical and biogeochemical changes, the interplay with ecosystem changes, and the implications for human communities. It serves policymakers, decision makers, stakeholders, and all interested parties with unbiased, up-to-date, policy-relevant information. This title is also available as Open Access on Cambridge Core.

Means-Tested Transfer Programs in the United States
Means-Tested Transfer Programs in the United States

Author: National Bureau of Economic Research

Publisher: University of Chicago Press

Published: 2003-10-15

Total Pages: 224

ISBN-13: 9780226533568

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Few United States government programs are as controversial as those designed to aid the poor. From tax credits to medical assistance, aid to needy families is surrounded by debate—on what benefits should be offered, what forms they should take, and how they should be administered. The past few decades, in fact, have seen this debate lead to broad transformations of aid programs themselves, with Aid to Families with Dependent Children replaced by Temporary Assistance to Needy Families, the Earned Income Tax Credit growing from a minor program to one of the most important for low-income families, and Medicaid greatly expanding its eligibility. This volume provides a remarkable overview of how such programs actually work, offering an impressive wealth of information on the nation's nine largest "means-tested" programs—that is, those in which some test of income forms the basis for participation. For each program, contributors describe origins and goals, summarize policy histories and current rules, and discuss the recipient's characteristics as well as the different types of benefits they receive. Each chapter then provides an overview of scholarly research on each program, bringing together the results of the field's most rigorous statistical examinations. The result is a fascinating portrayal of the evolution and current state of means-tested programs, one that charts a number of shifts in emphasis—the decline of cash assistance, for instance, and the increasing emphasis on work. This exemplary portrait of the nation's safety net will be an invaluable reference for anyone interested in American social policy.

Essays in Honor of Aman Ullah
Essays in Honor of Aman Ullah

Author: R. Carter Hill

Publisher: Emerald Group Publishing

Published: 2016-06-29

Total Pages: 680

ISBN-13: 1785607863

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Volume 36 of Advances in Econometrics recognizes Aman Ullah's significant contributions in many areas of econometrics and celebrates his long productive career.

Quantitative Methods for Economics and Finance
Quantitative Methods for Economics and Finance

Author: J.E. Trinidad-Segovia

Publisher: MDPI

Published: 2021-02-12

Total Pages: 418

ISBN-13: 3036501967

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This book is a collection of papers for the Special Issue “Quantitative Methods for Economics and Finance” of the journal Mathematics. This Special Issue reflects on the latest developments in different fields of economics and finance where mathematics plays a significant role. The book gathers 19 papers on topics such as volatility clusters and volatility dynamic, forecasting, stocks, indexes, cryptocurrencies and commodities, trade agreements, the relationship between volume and price, trading strategies, efficiency, regression, utility models, fraud prediction, or intertemporal choice.

Responding to Oil Spills in the U.S. Arctic Marine Environment
Responding to Oil Spills in the U.S. Arctic Marine Environment

Author: National Research Council

Publisher: National Academies Press

Published: 2014-08-01

Total Pages: 350

ISBN-13: 030929889X

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U.S. Arctic waters north of the Bering Strait and west of the Canadian border encompass a vast area that is usually ice covered for much of the year, but is increasingly experiencing longer periods and larger areas of open water due to climate change. Sparsely inhabited with a wide variety of ecosystems found nowhere else, this region is vulnerable to damage from human activities. As oil and gas, shipping, and tourism activities increase, the possibilities of an oil spill also increase. How can we best prepare to respond to such an event in this challenging environment? Responding to Oil Spills in the U.S. Arctic Marine Environment reviews the current state of the science regarding oil spill response and environmental assessment in the Arctic region north of the Bering Strait, with emphasis on the potential impacts in U.S. waters. This report describes the unique ecosystems and environment of the Arctic and makes recommendations to provide an effective response effort in these challenging conditions. According to Responding to Oil Spills in the U.S. Arctic Marine Environment, a full range of proven oil spill response technologies is needed in order to minimize the impacts on people and sensitive ecosystems. This report identifies key oil spill research priorities, critical data and monitoring needs, mitigation strategies, and important operational and logistical issues. The Arctic acts as an integrating, regulating, and mediating component of the physical, atmospheric and cryospheric systems that govern life on Earth. Not only does the Arctic serve as regulator of many of the Earth's large-scale systems and processes, but it is also an area where choices made have substantial impact on life and choices everywhere on planet Earth. This report's recommendations will assist environmentalists, industry, state and local policymakers, and anyone interested in the future of this special region to preserve and protect it from damaging oil spills.