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ISBN: 9781498317115 Year: 2019 Publisher: Washington, D. C. International Monetary Fund
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Tax Reforms and Fiscal Shock Smoothing.
Book
ISBN: 1498317111 1498315623 Year: 2019 Publisher: Washington, D.C. : International Monetary Fund,
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This paper examines the role of tax policy reforms in enhancing fiscal shock smoothing in a panel of 13 OECD economies during the period 1980-2017. The results suggest that tax reforms, in particular those that broaden the tax base, significantly enhance the ability of fiscal policy to mitigate the impact of growth shocks on disposable income. We find that the magnitude of shock smoothing increases from an average of 2 percent to 3-3½ percent following the reform. The effects are considerably higher for tax base than tax rate changes, and also higher for indirect tax than direct tax changes. The effects are symmetric—that is, the increase in shock smoothing following a reform expanding the tax base (rate) is similar to the decline in shock smoothing after a reform narrowing the tax base (rate). Tax elasticity, collection efficiency, and the progressivity of the tax system are important channels through which tax reforms affect fiscal stabilization.
Fiscal policy. --- Tax policy --- Taxation --- Economic policy --- Finance, Public --- Government policy --- Personal Finance -Taxation --- Public Finance --- Fiscal Policies and Behavior of Economic Agents: General --- Fiscal Policies and Behavior of Economic Agents: Firm --- Fiscal Policy --- Personal Income and Other Nonbusiness Taxes and Subsidies --- Business Taxes and Subsidies --- Public finance & taxation --- Macroeconomics --- Fiscal policy --- Income and capital gains taxes --- Consumption taxes --- Personal income tax --- Value-added tax --- Income tax --- Spendings tax
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ISBN: 1484399811 1498301134 Year: 2019 Publisher: Washington, D.C. : International Monetary Fund,
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Structural transformation has resulted in an increasing share of services in aggregate value-added in advanced and developing countries across the world. We analyze the impact of this shift into services on countries’ efficiency in collecting the value-added tax (VAT). The analysis is based on two alternative measures of VAT efficiency: (1) the VAT C-efficiency, using a broad panel of 134 countries over the period 1970-2014; and (2) the VAT gap using a more granular, proprietary dataset that draws on the results of IMF’s Revenue Administraion-Gap Analysis Program covering 24 countries over the period 2004-2016. We find that a higher share of services in aggregate value-added reduces the VAT efficiency, and that this adverse effect is mainly a result of a rise of non-tradable services, which in turn contributes to a narrowing of the VAT base.
Macroeconomics --- Public Finance --- Taxation --- Business Fluctuations --- Cycles --- Efficiency --- Optimal Taxation --- Business Taxes and Subsidies --- Industrial Organization and Macroeconomics: Industrial Structure and Structural Change --- Industrial Price Indices --- Taxation, Subsidies, and Revenue: General --- Public finance & taxation --- Economic growth --- Value-added tax --- Structural transformation --- Tax efficiency --- Tax gap --- Revenue administration --- Spendings tax --- Tax administration and procedure --- Economic development --- Revenue
Book
ISBN: 1484379810 Year: 2018 Publisher: Washington D.C. International Monetary Fund
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New technologies?digitalization, artificial intelligence, and machine learning?are changing the way work gets done at an unprecedented rate. Helping people adapt to a fast-changing world of work and ameliorating its deleterious impacts will be the defining challenge of our time. What are the gender implications of this changing nature of work? How vulnerable are women's jobs to risk of displacement by technology? What policies are needed to ensure that technological change supports a closing, and not a widening, of gender gaps? This SDN finds that women, on average, perform more routine tasks than men across all sectors and occupations?tasks that are most prone to automation. Given the current state of technology, we estimate that 26 million female jobs in 30 countries (28 OECD member countries, Cyprus, and Singapore) are at a high risk of being displaced by technology (i.e., facing higher than 70 percent likelihood of being automated) within the next two decades. Female workers face a higher risk of automation compared to male workers (11 percent of the female workforce, relative to 9 percent of the male workforce), albeit with significant heterogeneity across sectors and countries. Less well-educated and older female workers (aged 40 and above), as well as those in low-skill clerical, service, and sales positions are disproportionately exposed to automation. Extrapolating our results, we find that around 180 million female jobs are at high risk of being displaced globally. Policies are needed to endow women with required skills; close gender gaps in leadership positions; bridge digital gender divide (as ongoing digital transformation could confer greater flexibility in work, benefiting women); ease transitions for older and low-skilled female workers.
Book
ISBN: 1484356497 Year: 2018 Publisher: Washington, D.C. : International Monetary Fund,
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This paper describes a new, comprehensive database of tax policy measures in 23 advanced and emerging market economies over the last four decades. We extract this information from more than 900 OECD Economic Surveys and 37,000 tax-related news from the International Bureau of Fiscal Documentation using text-mining techniques. The innovation of this dataset lies in its granularity: changes in the rates and bases of personal and corporate income taxes, value added and sale taxes, social security contributions, excise, and property taxes are systematically documented. In addition, the database provides information on the announcement and implementation dates, whether the measures represent major changes, are part of a broader tax package, and phased in over several years. The paper also presents a range of stylized facts suggesting that information from this database is useful to deepen the analysis of tax policy changes for research and policy purposes.
Taxation --- Duties --- Fee system (Taxation) --- Tax policy --- Tax reform --- Taxation, Incidence of --- Taxes --- Finance, Public --- Revenue --- Law and legislation --- Economic aspects. --- Personal Finance -Taxation --- Public Finance --- Corporate Taxation --- Methodology for Collecting, Estimating, and Organizing Macroeconomic Data --- Data Access --- Policy Objectives --- Policy Designs and Consistency --- Policy Coordination --- Taxation, Subsidies, and Revenue: General --- Political Economy --- Business Taxes and Subsidies --- Personal Income and Other Nonbusiness Taxes and Subsidies --- Public finance & taxation --- Corporate & business tax --- Welfare & benefit systems --- Corporate income tax --- Personal income tax --- Tax type organization --- Value-added tax --- Social security contributions --- Revenue administration --- Corporations --- Income tax --- Tax administration and procedure --- Spendings tax --- Social security --- United States
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