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In Search of Lost Revenue : Why Restoring Fiscal Soundness After a Crisis is Harder Than it Looks
Book/Monograph, Created By Masato Miyazaki in ENGLISH language
This note argues that because fiscal deficit after a crisis owe much to a drop in tax revenues and a sluggish revenue growth, its adjustment has to rely more on revenue augmentation than commonly thought. Cutting extra spending in the wake of the crisis would not balance the book, while a natural growth of tax revenue after the recovery may take a long time before financing the pre-crisis level of expenditure. Faced with unpopular choices, the government may implicitly prefer seeing higher inflation.
In Search of Lost Revenue : Why Restoring Fiscal Soundness After a Crisis is Harder Than it Looks
Book/Monograph, Created By Masato Miyazaki in ENGLISH language
This note argues that because fiscal deficit after a crisis owe much to a drop in tax revenues and a sluggish revenue growth, its adjustment has to rely more on revenue augmentation than commonly thought. Cutting extra spending in the wake of the crisis would not balance the book, while a natural growth of tax revenue after the recovery may take a long time before financing the pre-crisis level of expenditure. Faced with unpopular choices, the government may implicitly prefer seeing higher inflation.
MENA Quarterly Economic Brief, January 2015 : Plunging Oil Prices
Publications & Research :: Publication; Publications & Research,
Macroeconomic Management for Poverty Reduction : Chad, Mali, Niger
Report; Publications & Research; Publications & Research :: Working Paper,
The Use of Detailed Statistical Data in Customs Reform : The Case of Madagascar
Working Paper; Publications & Research; Publications & Research :: Policy Research Working Paper,
Egypt : Guiding Reform of Energy Subsidies Long-Term
Working Paper; Publications & Research; Publications & Research :: Policy Research Working Paper,
Is Inequality Underestimated in Egypt? : Evidence from House Prices
Working Paper; Publications & Research; Publications & Research :: Policy Research Working Paper,
GCC Knowledge Note : Global Economic Trends
Brief; Publications & Research; Publications & Research :: Brief,
Doing Business Economy Profile 2012 : Southern African Development Community
Report; Publications & Research :: Working Paper; Publications & Research,
Doing Business Economy Profile 2012 : Central African Republic
Report; Publications & Research :: Working Paper; Publications & Research,