Consumption taxes in Australia: A DSGE approach

Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216224%3A14560%2F17%3A00097618" target="_blank" >RIV/00216224:14560/17:00097618 - isvavai.cz</a>
Result on the web
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DOI - Digital Object Identifier
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Result language
angličtina
Original language name
Consumption taxes in Australia: A DSGE approach
Original language description
This paper investigates the effects of the increase in consumption taxes on Australian economy which faces the same challenges as almost all developed countries of the world. The public finances are in weak condition recovering from the last global financial crisis. Current status of demography prognoses the future decrease of working population and significant increase in the costs on health and social system. The goal is to decide whether currently discussed need of tax reform is relevant and if the proposed solution can improve the situation of public finances using a new Keynesian dynamic stochastic general equilibrium model for a small closed economy which is adjusted for the changes in consumption taxes. The effects on economy (especially on output, deficit and debt) are examined using impulse response functions of shocks in the stochastic components of the implicit tax rate. According to our results we do not suggest Australian government to implement the reform of increasing indirect taxes itself, but combine it with e.g. decrease of direct taxes as it is the main trend in fiscal policy of nowadays.
Czech name
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Czech description
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Publication year
2017
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Article name in the collection
The 35th International Conference Mathematical Methods in Economics, Conference Proceedings.
ISBN
9788074356780
ISSN
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e-ISSN
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Number of pages
6
Pages from-to
342-347
Publisher name
University of Hradec Králové
Place of publication
Hradec Králové
Event location
Hradec Králové
Event date
Jan 1, 2017
Type of event by nationality
WRD - Celosvětová akce
UT code for WoS article
000427151400059

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