06483oam 22015614 450 991097417090332120250426110845.09781475511000147551100097814755556081475555601(CKB)2550000000107097(EBL)1606758(SSID)ssj0000943854(PQKBManifestationID)11573578(PQKBTitleCode)TC0000943854(PQKBWorkID)10982716(PQKB)10605906(Au-PeEL)EBL1606758(CaPaEBR)ebr10574690(OCoLC)794856558(IMF)WPIEE2012139(IMF)WPIEA2012139(MiAaPQ)EBC1606758WPIEA2012139(EXLCZ)99255000000010709720020129d2012 uf 0engur|n|---|||||txtccrTariff-Tax Reforms in Large Economies /Juha Tervala, Giovanni Ganelli1st ed.Washington, D.C. :International Monetary Fund,2012.1 online resource (33 p.)IMF Working Papers"Institute for Capacity Development.""May 2012."9781475569384 1475569386 9781475503944 1475503946 Includes bibliographical references.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 reformVI. 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; ReferencesThis 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.IMF Working Papers; Working Paper ;No. 2012/139TariffEconometric modelsTaxationEconometric modelsExports and ImportsimfLaborimfMacroeconomicsimfTaxationimfFiscal PolicyimfModels of Trade with Imperfect Competition and Scale EconomiesimfTrade PolicyimfInternational Trade OrganizationsimfOpen Economy MacroeconomicsimfTaxation, Subsidies, and Revenue: GeneralimfBusiness Taxes and SubsidiesimfMacroeconomics: ConsumptionimfSavingimfWealthimfEmpirical Studies of TradeimfDemand and Supply of Labor: GeneralimfPublic finance & taxationimfInternational economicsimfLabourimfincome economicsimfConsumption taxesimfTariffsimfConsumptionimfTerms of tradeimfLabor supplyimfTaxesimfNational accountsimfInternational tradeimfSpendings taximfTariffimfEconomicsimfEconomic policyimfnternational cooperationimfLabor marketimfIncome economicsimfNternational cooperationimfUruguayimfTariffEconometric models.TaxationEconometric models.Exports and ImportsLaborMacroeconomicsTaxationFiscal PolicyModels of Trade with Imperfect Competition and Scale EconomiesTrade PolicyInternational Trade OrganizationsOpen Economy MacroeconomicsTaxation, Subsidies, and Revenue: GeneralBusiness Taxes and SubsidiesMacroeconomics: ConsumptionSavingWealthEmpirical Studies of TradeDemand and Supply of Labor: GeneralPublic finance & taxationInternational economicsLabourincome economicsConsumption taxesTariffsConsumptionTerms of tradeLabor supplyTaxesNational accountsInternational tradeSpendings taxTariffEconomicsEconomic policynternational cooperationLabor marketIncome economicsNternational cooperation338.29357Tervala Juha1815853Ganelli Giovanni1092052DcWaIMFBOOK9910974170903321Tariff-Tax Reforms in Large Economies4371924UNINA