Adjusting fiscal balances for the business cycle: New tax and expenditure elasticity estimates for OECD countries
This paper re-estimates the elasticities of government revenue and expenditure items with respect to the output gap for OECD countries. These elasticities are used by the OECD to calculate cyclically adjusted fiscal balances. The study updates the earlier 2005 study using the most recent datasets an...
Gespeichert in:
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| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Paris
OECD Publishing
2015
|
| Schriftenreihe: | OECD Economics Department Working Papers
no.1275 |
| Schlagworte: | |
| Online-Zugang: | Volltext |
| Zusammenfassung: | This paper re-estimates the elasticities of government revenue and expenditure items with respect to the output gap for OECD countries. These elasticities are used by the OECD to calculate cyclically adjusted fiscal balances. The study updates the earlier 2005 study using the most recent datasets and tax codes, the coverage being confined in this paper to 35 countries, the 34 OECD member states and Latvia. The same two-step methodology is retained: revenue and expenditure elasticities with respect to the output gap being defined as the product of, first, the elasticities of individual revenue and expenditure items with respect to their bases and, second, the elasticities of these bases with respect to the output gap. A number of refinements and methodological improvements are made relative to the 2005 study. The revisions to individual elasticities relative to the 2005 vintage are significant in a number of cases but do not follow a clear pattern across countries, except for the elasticities of corporate income tax revenue which are revised up in most cases. |
| Beschreibung: | 1 Online-Ressource (58 p.) 21 x 29.7cm. |
| DOI: | 10.1787/5jrp1g3282d7-en |
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| spelling | Price, Robert VerfasserIn aut Adjusting fiscal balances for the business cycle New tax and expenditure elasticity estimates for OECD countries Robert, Price, Thai-Thanh, Dang and Jarmila, Botev = Correction des soldes budgétaires en fonction des variations cycliques : Nouvelles estimations d'élasticités des impôts et des dépenses pour les pays de l'OCDE / Robert, Price, Thai-Thanh, Dang et Jarmila, Botev Correction des soldes budgétaires en fonction des variations cycliques Paris OECD Publishing 2015 1 Online-Ressource (58 p.) 21 x 29.7cm. Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier OECD Economics Department Working Papers no.1275 This paper re-estimates the elasticities of government revenue and expenditure items with respect to the output gap for OECD countries. These elasticities are used by the OECD to calculate cyclically adjusted fiscal balances. The study updates the earlier 2005 study using the most recent datasets and tax codes, the coverage being confined in this paper to 35 countries, the 34 OECD member states and Latvia. The same two-step methodology is retained: revenue and expenditure elasticities with respect to the output gap being defined as the product of, first, the elasticities of individual revenue and expenditure items with respect to their bases and, second, the elasticities of these bases with respect to the output gap. A number of refinements and methodological improvements are made relative to the 2005 study. The revisions to individual elasticities relative to the 2005 vintage are significant in a number of cases but do not follow a clear pattern across countries, except for the elasticities of corporate income tax revenue which are revised up in most cases. Economics Dang, Thai-Thanh MitwirkendeR ctb Botev, Jarmila MitwirkendeR ctb FWS01 ZDB-13-SOC FWS_PDA_SOC https://doi.org/10.1787/5jrp1g3282d7-en Volltext |
| spellingShingle | Price, Robert Adjusting fiscal balances for the business cycle New tax and expenditure elasticity estimates for OECD countries Economics |
| title | Adjusting fiscal balances for the business cycle New tax and expenditure elasticity estimates for OECD countries |
| title_alt | Correction des soldes budgétaires en fonction des variations cycliques |
| title_auth | Adjusting fiscal balances for the business cycle New tax and expenditure elasticity estimates for OECD countries |
| title_exact_search | Adjusting fiscal balances for the business cycle New tax and expenditure elasticity estimates for OECD countries |
| title_full | Adjusting fiscal balances for the business cycle New tax and expenditure elasticity estimates for OECD countries Robert, Price, Thai-Thanh, Dang and Jarmila, Botev = Correction des soldes budgétaires en fonction des variations cycliques : Nouvelles estimations d'élasticités des impôts et des dépenses pour les pays de l'OCDE / Robert, Price, Thai-Thanh, Dang et Jarmila, Botev |
| title_fullStr | Adjusting fiscal balances for the business cycle New tax and expenditure elasticity estimates for OECD countries Robert, Price, Thai-Thanh, Dang and Jarmila, Botev = Correction des soldes budgétaires en fonction des variations cycliques : Nouvelles estimations d'élasticités des impôts et des dépenses pour les pays de l'OCDE / Robert, Price, Thai-Thanh, Dang et Jarmila, Botev |
| title_full_unstemmed | Adjusting fiscal balances for the business cycle New tax and expenditure elasticity estimates for OECD countries Robert, Price, Thai-Thanh, Dang and Jarmila, Botev = Correction des soldes budgétaires en fonction des variations cycliques : Nouvelles estimations d'élasticités des impôts et des dépenses pour les pays de l'OCDE / Robert, Price, Thai-Thanh, Dang et Jarmila, Botev |
| title_short | Adjusting fiscal balances for the business cycle |
| title_sort | adjusting fiscal balances for the business cycle new tax and expenditure elasticity estimates for oecd countries |
| title_sub | New tax and expenditure elasticity estimates for OECD countries |
| topic | Economics |
| topic_facet | Economics |
| url | https://doi.org/10.1787/5jrp1g3282d7-en |
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