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Record Nr. |
UNINA9910819460003321 |
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Autore |
Tervala Juha |
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Titolo |
Tariff-Tax Reforms in Large Economies / / Juha Tervala, Giovanni Ganelli |
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Pubbl/distr/stampa |
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Washington, D.C. : , : International Monetary Fund, , 2012 |
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ISBN |
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1-4755-1100-0 |
1-4755-5560-1 |
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Edizione |
[1st ed.] |
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Descrizione fisica |
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1 online resource (33 p.) |
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Collana |
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Altri autori (Persone) |
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Disciplina |
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Soggetti |
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Tariff - Econometric models |
Taxation - Econometric models |
Exports and Imports |
Labor |
Macroeconomics |
Taxation |
Fiscal Policy |
Models of Trade with Imperfect Competition and Scale Economies |
Trade Policy |
International Trade Organizations |
Open Economy Macroeconomics |
Taxation, Subsidies, and Revenue: General |
Business Taxes and Subsidies |
Macroeconomics: Consumption |
Saving |
Wealth |
Empirical Studies of Trade |
Demand and Supply of Labor: General |
Public finance & taxation |
International economics |
Labour |
income economics |
Consumption taxes |
Tariffs |
Consumption |
Terms of trade |
Labor supply |
Taxes |
National accounts |
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International trade |
Spendings tax |
Tariff |
Economics |
Economic policy |
nternational cooperation |
Labor market |
Uruguay |
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Lingua di pubblicazione |
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Formato |
Materiale a stampa |
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Livello bibliografico |
Monografia |
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Note generali |
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"Institute for Capacity Development." |
"May 2012." |
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Nota di bibliografia |
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Includes bibliographical references. |
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Nota di contenuto |
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Cover; Abstract; Contents; I. Introduction; Tables; 1. Tariff Reductions under the Uruguay Round; II. The Model; A. Households; B. The Government; C. Firms; D. The Consolidated Budget Constraint; E. The Initial Steady State; III. Parameterization; IV. Revenue neutral tariff-tax reform; 2. Model Parameterization; Figures; 1. Effects of a Domestic Revenue Neutral Tariff-Tax Reform; 3. Impact of a domestic tariff-tax reform on the DPV of domestic, foreign and world; V. Point-For-Point Tariff-Tax Reform; 4. Sensitivity analysis: The sign of the welfare effect of a domestic tariff-tax reform |
VI. Conclusions5. Impact of a domestic tariff-tax reform on the DPV of domestic, foreign and world; 2. Effects of a Domestic Point-For-Point Tariff-Tax Reform; References; References |
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Sommario/riassunto |
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This paper studies tariff-tax reforms in a calibrated two-region global New Keynesian model composed of a developing and an advanced region. In our baseline calibration, a revenue-neutral reform that lowers tariffs in developing countries can reduce domestic welfare. The reason is that the increase in developing countries welfare due to higher output is dominated by the welfare losses stemming from the deterioration of the terms of trade. On the other hand, the reform increases output and welfare in the advanced countries and in the world as a whole. The effects that we highlight have not been studied in previous contributions to the literature, which typically looks at tariff-tax reforms using a small open economy framework. Nominal rigidities have important implications for adjustment dynamics in our model. In the case of a "point-for-point" reform, for example, price stickiness implies that the international dynamics of output is reversed compared to a revenue neutral reform. |
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