Tax systems under fiscal adjustment : a dynamic CGE analysis of the Brazilian tax reform /

Tax systems under fiscal adjustment : a dynamic CGE analysis of the Brazilian tax reform /

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Bibliographic Details
Author / Creator:Lledó, Victor Duarte, author.
Imprint:Washington, D.C. : International Monetary Fund, Finance Dept., ©2005.
Description:1 online resource (33 pages) : illustrations
Language:English
Series:IMF working paper ; WP/05/142
IMF working paper ; WP/05/142.
Subject:
Taxation -- Brazil -- Econometric models.
Fiscal policy -- Brazil -- Econometric models.
Fiscal policy -- Econometric models.
Taxation -- Econometric models.
Brazil.
Format: E-Resource Book
URL for this record:http://pi.lib.uchicago.edu/1001/cat/bib/12494863
Hidden Bibliographic Details
Other authors / contributors:International Monetary Fund. Finance Department, issuing body.
ISBN:1282447858
9781282447851
9781451906974
1451906978
1462314511
9781462314515
145275621X
9781452756219
9786613821058
6613821055
Notes:"July 2005."
Includes bibliographical references (pages 31-33).
English.
Online resource; title from title screen (viewed July 18, 2008).
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.
Table of 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

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