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Tax Systems Under Fiscal Adjustment : A Dynamic CGE Analysis of the Brazilian Tax Reform / Victor Lledo.
- Format:
- Book
- Government document
- Author/Creator:
- Lledo, Victor.
- Series:
- IMF Working Papers; Working Paper ; No. 2005/142
- IMF Working Papers
- Language:
- English
- Subjects (All):
- Taxation--Brazil--Econometric models.
- Taxation.
- Fiscal policy--Brazil--Econometric models.
- Fiscal policy.
- Physical Description:
- 1 online resource (34 p.)
- Place of Publication:
- Washington, D.C. : International Monetary Fund, 2005.
- Language Note:
- English
- Summary:
- This paper uses a dynamic computable general equilibrium model (CGE) to analyze the macroeconomic and redistributive effects of replacing turnover and financial transaction taxes in Brazil by a consumption tax. In order to approximate Brazil's compliance with its fiscal adjustment targets, the proposed reform is subject to a non increasing path for the level of public debt. Despite an increase in the average consumption tax rate in the first years after the reform, a majority of individuals experienced an increase in their lifetime welfare. This result rejects the hypothesis that the on-going fiscal adjustment effort carried on by the Brazilian government was an obstacle to the implementation of a more efficient tax system.
- Contents:
- ""Contents""; ""I. INTRODUCTION""; ""II. FISCAL ADJUSTMENT AND THE BRAZILIAN TAX SYSTEM.""; ""III. The Model""; ""A. Preferences and the Individual Budget Constraint""; ""B. Technology""; ""C. Government""; ""D. Equilibrium and Simulation Methodology""; ""E . Tax Reform Experiment""; ""IV. Model Parameterization and Calibration""; ""V. Simulation Results""; ""A. Macroeconomic Effects""; ""B. Welfare Effects""; ""VI. CONCLUSIONS""; ""APPENDIX I. Equivalence Between Taxes on Corporate Revenues and a Tax on General Income""; ""APPENDIX II. Parameterization and Calibration Details""
- ""References""
- Notes:
- "July 2005."
- Includes bibliographical references (p. 31-33).
- Description based on print version record.
- ISBN:
- 9786613821058
- 9781462314515
- 1462314511
- 9781452756219
- 145275621X
- 9781282447851
- 1282447858
- 9781451906974
- 1451906978
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