LEADER 04214oam 22010934 450 001 9910812624203321 005 20240402050343.0 010 $a1-4623-5882-9 010 $a1-4527-9650-5 010 $a1-4518-7033-7 010 $a9786612841262 010 $a1-282-84126-2 035 $a(CKB)3170000000055065 035 $a(EBL)1607936 035 $a(SSID)ssj0000944146 035 $a(PQKBManifestationID)11503214 035 $a(PQKBTitleCode)TC0000944146 035 $a(PQKBWorkID)10983259 035 $a(PQKB)11591377 035 $a(OCoLC)762926226 035 $a(MiAaPQ)EBC1607936 035 $a(IMF)WPIEE2008175 035 $a(EXLCZ)993170000000055065 100 $a20020129d2008 uf 0 101 0 $aeng 135 $aur|n|---||||| 181 $ctxt 182 $cc 183 $acr 200 10$aInflation Smoothing and the Modest Effect of VAT in Germany /$fStephan Danninger, Alina Carare 205 $a1st ed. 210 1$aWashington, D.C. :$cInternational Monetary Fund,$d2008. 215 $a1 online resource (23 p.) 225 1 $aIMF Working Papers 225 0$aIMF working paper ;$vWP/08/175 300 $aDescription based upon print version of record. 311 $a1-4519-1486-5 320 $aIncludes bibliographical references. 327 $aContents; I. Introduction; II. Stylized Facts and Rationale for Inflation Smoothing; III. Empirical Analysis; IV. Conclusions; References; Appendix; I. Data; II. Method; III. Calculating The Effect on Core Inflation 330 3 $aIncreases in German core inflation following the 2007 VAT hike were smaller than expected, leading to speculation about delayed inflationary effects. This paper argues to the contrary that price increases in advance of the VAT hike explain the small increase upon implementation. We find that core inflation rose by 0.36 percentage point in the run up and by a further 0.40 percentage point at the time of the VAT hike. Cumulatively, the tax hike contributed to two thirds of the increase in core inflation in 2006-07 at an estimated pass-through of 73 percent. Most of the increase in 2006 was of general nature, while about one sixth can be attributed to durable goods and items with low degree of competition. 410 0$aIMF Working Papers; Working Paper ;$vNo. 2008/175 606 $aInflation (Finance)$zGermany 606 $aValue-added tax$zGermany 606 $aInflation (Finance)$zGermany$xEconometric models 606 $aValue-added tax$zGermany$xEconometric models 606 $aInflation$2imf 606 $aMacroeconomics$2imf 606 $aTaxation$2imf 606 $aPrice Level$2imf 606 $aDeflation$2imf 606 $aBusiness Taxes and Subsidies$2imf 606 $aMacroeconomics: Consumption$2imf 606 $aSaving$2imf 606 $aWealth$2imf 606 $aPublic finance & taxation$2imf 606 $aValue-added tax$2imf 606 $aConsumer price indexes$2imf 606 $aConsumption$2imf 606 $aPrice adjustments$2imf 606 $aPrices$2imf 606 $aSpendings tax$2imf 606 $aPrice indexes$2imf 606 $aEconomics$2imf 607 $aGermany$2imf 615 0$aInflation (Finance) 615 0$aValue-added tax 615 0$aInflation (Finance)$xEconometric models. 615 0$aValue-added tax$xEconometric models. 615 7$aInflation 615 7$aMacroeconomics 615 7$aTaxation 615 7$aPrice Level 615 7$aDeflation 615 7$aBusiness Taxes and Subsidies 615 7$aMacroeconomics: Consumption 615 7$aSaving 615 7$aWealth 615 7$aPublic finance & taxation 615 7$aValue-added tax 615 7$aConsumer price indexes 615 7$aConsumption 615 7$aPrice adjustments 615 7$aPrices 615 7$aSpendings tax 615 7$aPrice indexes 615 7$aEconomics 676 $a332.4943 700 $aDanninger$b Stephan$01674585 701 $aCarare$b Alina$01722274 801 0$bDcWaIMF 906 $aBOOK 912 $a9910812624203321 996 $aInflation Smoothing and the Modest Effect of VAT in Germany$94122506 997 $aUNINA