04609oam 22010574 450 991095501810332120250426110900.0978661382585897814623316421462331645978145279050314527905079781283513401128351340497814519850611451985061(CKB)3360000000443577(EBL)3014430(SSID)ssj0000940795(PQKBManifestationID)11518089(PQKBTitleCode)TC0000940795(PQKBWorkID)10955828(PQKB)11508504(OCoLC)694141078(MiAaPQ)EBC3014430(IMF)WPIEE2006165(IMF)WPIEA2006165WPIEA2006165(EXLCZ)99336000000044357720020129d2006 uf 0engur|n|---|||||txtccrExpenditure Composition and Distortionary Tax for Equitable Economic Growth /Hyun Park1st ed.Washington, D.C. :International Monetary Fund,2006.1 online resource (40 p.)IMF Working Papers"June 2006."9781451864250 1451864256 Includes bibliographical references.""Contents""; ""I. INTRODUCTION""; ""II. THE DECENTRALIZED COMPETITIVE EQUILIBRIUM""; ""III. RAMSEY OPTIMAL POLICY AND EQUILIBRIUM""; ""IV. EMPIRICAL OBSERVATIONS""; ""V. CONCLUDING REMARKS""This paper continues the study of optimal fiscal policy in a growing economy by exploring a case in which the government simultaneously provides three main categories of expenditures with distortionary tax finance: public production services, public consumption services, and state-contingent redistributive transfers. The paper shows that in a general equilibrium model with given exogenous fiscal policy, a nonlinear relation exists between the suboptimal longrun growth rate in a competitive economy and distortionary tax rates. When fiscal policy is endogenously chosen at a social optimum, the relation between the rate of growth and tax rates is always negative. These two conclusions suggest that the interaction between fiscal policy and growth may be complicated enough that it cannot be captured in a simple linear model using an aggregate measure of fiscal policy. The sources of nonlinearity include expectation and coordination of fiscal policy, impluse response of government policies, and the presence of positive externality due to government spending.IMF Working Papers; Working Paper ;No. 2006/165Expenditures, PublicEconometric modelsFiscal policyEconometric modelsTaxationEconometric modelsAggregate Factor Income DistributionimfExpenditureimfExpenditures, PublicimfFiscal PolicyimfFiscal policyimfIncome distributionimfIncome inequalityimfIncomeimfMacroeconomicsimfNational Government Expenditures and Related Policies: GeneralimfPublic finance & taxationimfPublic FinanceimfRevenue administrationimfRevenueimfTaxation, Subsidies, and Revenue: GeneralimfDenmarkimfExpenditures, PublicEconometric models.Fiscal policyEconometric models.TaxationEconometric models.Aggregate Factor Income DistributionExpenditureExpenditures, PublicFiscal PolicyFiscal policyIncome distributionIncome inequalityIncomeMacroeconomicsNational Government Expenditures and Related Policies: GeneralPublic finance & taxationPublic FinanceRevenue administrationRevenueTaxation, Subsidies, and Revenue: GeneralPark Hyun1816642International Monetary Fund.Fiscal Affairs Dept.DcWaIMFBOOK9910955018103321Expenditure Composition and Distortionary Tax for Equitable Economic Growth4372894UNINA