LEADER 06186oam 22014534 450 001 9910819460003321 005 20240402045150.0 010 $a1-4755-1100-0 010 $a1-4755-5560-1 035 $a(CKB)2550000000107097 035 $a(EBL)1606758 035 $a(SSID)ssj0000943854 035 $a(PQKBManifestationID)11573578 035 $a(PQKBTitleCode)TC0000943854 035 $a(PQKBWorkID)10982716 035 $a(PQKB)10605906 035 $a(MiAaPQ)EBC1606758 035 $a(Au-PeEL)EBL1606758 035 $a(CaPaEBR)ebr10574690 035 $a(OCoLC)794856558 035 $a(IMF)WPIEE2012139 035 $a(IMF)WPIEA2012139 035 $a(EXLCZ)992550000000107097 100 $a20020129d2012 uf 0 101 0 $aeng 135 $aur|n|---||||| 181 $ctxt 182 $cc 183 $acr 200 10$aTariff-Tax Reforms in Large Economies /$fJuha Tervala, Giovanni Ganelli 205 $a1st ed. 210 1$aWashington, D.C. :$cInternational Monetary Fund,$d2012. 215 $a1 online resource (33 p.) 225 1 $aIMF Working Papers 300 $a"Institute for Capacity Development." 300 $a"May 2012." 311 $a1-4755-6938-6 311 $a1-4755-0394-6 320 $aIncludes bibliographical references. 327 $aCover; 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 327 $aVI. 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 330 3 $aThis paper studies tariff-tax reforms in a calibrated two-region global New Keynesian model composed of a developing and an advanced region. In our baseline calibration, a revenue-neutral reform that lowers tariffs in developing countries can reduce domestic welfare. The reason is that the increase in developing countries welfare due to higher output is dominated by the welfare losses stemming from the deterioration of the terms of trade. On the other hand, the reform increases output and welfare in the advanced countries and in the world as a whole. The effects that we highlight have not been studied in previous contributions to the literature, which typically looks at tariff-tax reforms using a small open economy framework. Nominal rigidities have important implications for adjustment dynamics in our model. In the case of a "point-for-point" reform, for example, price stickiness implies that the international dynamics of output is reversed compared to a revenue neutral reform. 410 0$aIMF Working Papers; Working Paper ;$vNo. 2012/139 606 $aTariff$xEconometric models 606 $aTaxation$xEconometric models 606 $aExports and Imports$2imf 606 $aLabor$2imf 606 $aMacroeconomics$2imf 606 $aTaxation$2imf 606 $aFiscal Policy$2imf 606 $aModels of Trade with Imperfect Competition and Scale Economies$2imf 606 $aTrade Policy$2imf 606 $aInternational Trade Organizations$2imf 606 $aOpen Economy Macroeconomics$2imf 606 $aTaxation, Subsidies, and Revenue: General$2imf 606 $aBusiness Taxes and Subsidies$2imf 606 $aMacroeconomics: Consumption$2imf 606 $aSaving$2imf 606 $aWealth$2imf 606 $aEmpirical Studies of Trade$2imf 606 $aDemand and Supply of Labor: General$2imf 606 $aPublic finance & taxation$2imf 606 $aInternational economics$2imf 606 $aLabour$2imf 606 $aincome economics$2imf 606 $aConsumption taxes$2imf 606 $aTariffs$2imf 606 $aConsumption$2imf 606 $aTerms of trade$2imf 606 $aLabor supply$2imf 606 $aTaxes$2imf 606 $aNational accounts$2imf 606 $aInternational trade$2imf 606 $aSpendings tax$2imf 606 $aTariff$2imf 606 $aEconomics$2imf 606 $aEconomic policy$2imf 606 $anternational cooperation$2imf 606 $aLabor market$2imf 607 $aUruguay$2imf 615 0$aTariff$xEconometric models. 615 0$aTaxation$xEconometric models. 615 7$aExports and Imports 615 7$aLabor 615 7$aMacroeconomics 615 7$aTaxation 615 7$aFiscal Policy 615 7$aModels of Trade with Imperfect Competition and Scale Economies 615 7$aTrade Policy 615 7$aInternational Trade Organizations 615 7$aOpen Economy Macroeconomics 615 7$aTaxation, Subsidies, and Revenue: General 615 7$aBusiness Taxes and Subsidies 615 7$aMacroeconomics: Consumption 615 7$aSaving 615 7$aWealth 615 7$aEmpirical Studies of Trade 615 7$aDemand and Supply of Labor: General 615 7$aPublic finance & taxation 615 7$aInternational economics 615 7$aLabour 615 7$aincome economics 615 7$aConsumption taxes 615 7$aTariffs 615 7$aConsumption 615 7$aTerms of trade 615 7$aLabor supply 615 7$aTaxes 615 7$aNational accounts 615 7$aInternational trade 615 7$aSpendings tax 615 7$aTariff 615 7$aEconomics 615 7$aEconomic policy 615 7$anternational cooperation 615 7$aLabor market 676 $a338.29357 700 $aTervala$b Juha$01693108 701 $aGanelli$b Giovanni$01092052 801 0$bDcWaIMF 906 $aBOOK 912 $a9910819460003321 996 $aTariff-Tax Reforms in Large Economies$94092234 997 $aUNINA