Tax buoyancy in OECD countries /

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Bibliographic Details
Imprint:	[Washington, D.C.] : International Monetary Fund, ©2014.
Description:	1 online resource (18 pages) : color illustrations
Language:	English
Series:	IMF working paper ; WP/14/110 IMF working paper ; WP/14/110.
Subject:	Taxation -- OECD countries. Revenue -- OECD countries. Economic development -- OECD countries. Economic development. Revenue. Taxation. OECD countries. Electronic books.
Format:	E-Resource Book
URL for this record:	http://pi.lib.uchicago.edu/1001/cat/bib/12502946

Hidden Bibliographic Details
Other authors / contributors:	Belinga, Vincent, author. International Monetary Fund. Fiscal Affairs Department, issuing body.
ISBN:	9781498356572 1498356575
Notes:	"Fiscal Affairs Department"--Page 2 of pdf. "June 2014"--Page 2 of pdf. Includes bibliographical references. Online resource; title from pdf title page (IMF.org Web site, viewed July 1, 2014).
Summary:	"By how much will faster economic growth boost government revenue? This paper estimates short- and long-run tax buoyancy in OECD countries between 1965 and 2012. We find that, for aggregate tax revenues, short-run tax buoyancy does not significantly differ from one in the majority of countries; yet, it has increased since the late 1980s so that tax systems have generally become better automatic stabilizers. Long-run buoyancy exceeds one in about half of the OECD countries, implying that GDP growth has helped improve structural fiscal deficit ratios. Corporate taxes are by far the most buoyant, while excises and property taxes are the least buoyant. For personal income taxes and social contributions, short- and long-run buoyancies have declined since the late 1980s and have, on average, become lower than one"--Abstract.

Table of Contents:

Cover; Abstract; Contents; I. Introduction; FIGURES; 1. Growth Rates of Nominal GDP and Tax Revenue; II. Methodology; A. Specification and Estimation; B. Theoretical Expectations; C. Data; 2. Composition of Tax Revenues as Share of GDP; III. Results; A. Buoyancy of Total Tax Revenue; TABLES; 1. Buoyancy of Total Tax Revenue by Country; 2. Buoyancy of Total Tax Revenue, Panel Estimate; B. Buoyancy of Tax Revenue Components; 3. Buoyancy of Tax Revenue Components; 4. Buoyancy of Tax Revenue Components over Two Periods; C. Robustness; 5. Buoyancy of PIT anc CIT, Controlled for Tax Rates.
6. Buoyancy With and Without Controlling for InflationIV. Conclusion; 7. Asymmetric Short-Term Buoyancy; References.

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