文章基本信息

标题：The Macroeconomic and Distributional Implications of Fiscal Consolidations in Low-income Countries
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作者：Peralta-Alva, Adrian ; Mendes Tavares, Marina ; Tam, S. Xuan 等
期刊名称：IMF Policy Discussion Papers
出版年度：2018
期号：June
出版社：International Monetary Fund
摘要：We quantitatively investigate the macroeconomic and distributional impacts of fiscal consolidations in low-income countries (LICs) through value added tax (VAT), personal income tax (PIT), and corporate income tax (CIT). We extend the standard heterogeneous agents incomplete markets model by including multiple sectors and rural-urban distinction to capture salient features of LICs. We find that overall, VAT has the least efficiency costs but is highly regressive, while PIT impacts the economy in the opposite way with CIT staying in between. Cash transfers targeting rural households mitigate the negative distributional impacts of VAT most effectively, while public investment leads to little redistribution.