Fiscal Devaluation - Can it Help to Boost Competitiveness?:
The recent crisis has revealed large differences in external competitiveness between euro area member countries. Since nominal exchange rate devaluation is not an option for members of a currency area, governments in troubled member countries have been considering so-called fiscal devaluation, i.e....
Gespeichert in:
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| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Paris
OECD Publishing
2013
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| Schriftenreihe: | OECD Economics Department Working Papers
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| Schlagworte: | |
| Online-Zugang: | kostenfrei |
| Zusammenfassung: | The recent crisis has revealed large differences in external competitiveness between euro area member countries. Since nominal exchange rate devaluation is not an option for members of a currency area, governments in troubled member countries have been considering so-called fiscal devaluation, i.e. a shift from employers' social security contribution to value added tax, as an alternative means to restore competitiveness. This paper discusses the potential benefits and drawbacks of such a reform and investigates under which circumstances it would have the intended effects. It argues that a fiscal devaluation can have transitory effects, but that any permanent real effects are likely to be small in size. The policy tool can thus not be a substitute for deeper structural reforms of labour, product and financial markets. However, it may be helpful as part of a broader package of reforms |
| Beschreibung: | 1 Online-Ressource (16 Seiten) 21 x 29.7cm |
| DOI: | 10.1787/5k3z2dckn2bw-en |
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| spelling | Koske, Isabell Verfasser aut Fiscal Devaluation - Can it Help to Boost Competitiveness? Isabell Koske = Dévaluation fiscale - peut-elle aider à stimuler la compétitivité ? / Isabell Koske Dévaluation fiscale - peut-elle aider à stimuler la compétitivité ? Paris OECD Publishing 2013 1 Online-Ressource (16 Seiten) 21 x 29.7cm txt rdacontent c rdamedia cr rdacarrier OECD Economics Department Working Papers The recent crisis has revealed large differences in external competitiveness between euro area member countries. Since nominal exchange rate devaluation is not an option for members of a currency area, governments in troubled member countries have been considering so-called fiscal devaluation, i.e. a shift from employers' social security contribution to value added tax, as an alternative means to restore competitiveness. This paper discusses the potential benefits and drawbacks of such a reform and investigates under which circumstances it would have the intended effects. It argues that a fiscal devaluation can have transitory effects, but that any permanent real effects are likely to be small in size. The policy tool can thus not be a substitute for deeper structural reforms of labour, product and financial markets. However, it may be helpful as part of a broader package of reforms Economics https://doi.org/10.1787/5k3z2dckn2bw-en Verlag kostenfrei Volltext |
| spellingShingle | Koske, Isabell Fiscal Devaluation - Can it Help to Boost Competitiveness? Economics |
| title | Fiscal Devaluation - Can it Help to Boost Competitiveness? |
| title_alt | Dévaluation fiscale - peut-elle aider à stimuler la compétitivité ? |
| title_auth | Fiscal Devaluation - Can it Help to Boost Competitiveness? |
| title_exact_search | Fiscal Devaluation - Can it Help to Boost Competitiveness? |
| title_exact_search_txtP | Fiscal Devaluation - Can it Help to Boost Competitiveness? |
| title_full | Fiscal Devaluation - Can it Help to Boost Competitiveness? Isabell Koske = Dévaluation fiscale - peut-elle aider à stimuler la compétitivité ? / Isabell Koske |
| title_fullStr | Fiscal Devaluation - Can it Help to Boost Competitiveness? Isabell Koske = Dévaluation fiscale - peut-elle aider à stimuler la compétitivité ? / Isabell Koske |
| title_full_unstemmed | Fiscal Devaluation - Can it Help to Boost Competitiveness? Isabell Koske = Dévaluation fiscale - peut-elle aider à stimuler la compétitivité ? / Isabell Koske |
| title_short | Fiscal Devaluation - Can it Help to Boost Competitiveness? |
| title_sort | fiscal devaluation can it help to boost competitiveness |
| topic | Economics |
| topic_facet | Economics |
| url | https://doi.org/10.1787/5k3z2dckn2bw-en |
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