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dc.contributor.authorFricke, Hansen
dc.contributor.authorSüssmuth, Bernden
dc.date.accessioned2011-05-17-
dc.date.accessioned2011-06-29T11:21:26Z-
dc.date.available2011-06-29T11:21:26Z-
dc.date.issued2011-
dc.identifier.urihttp://hdl.handle.net/10419/46565-
dc.description.abstractAgainst the background of a notoriously high macroeconomic instability and the need to raise tax revenues to meet the demands of public spending, this paper analyzes the tradeoff between growth and volatility of tax revenues in Latin America. We use a two-step Engle-Granger-type model to estimate short-run and long-run elasticities, accounting for statedependentasymmetric reactions of short-run elasticities over the business cycle. Due to its dependence on commodities exploitation Latin America is in general susceptible to the boombust cycles of its natural riches. Controlling for the composition of revenue sources and other idiosyncrasies of Latin American economies, we find revenues above (below) its long-run equilibrium to react stronger (weaker) to business cycle dynamics. This 'tax revenue channel' represents an indirect argument for counter-cyclical discretionary fiscal policy in the region. Our detailed elasticity estimates can give some orientation on how to reach necessary higher tax levels without creating disincentives and inequities through business cycle instabilities on the way to develop an adequate internal tax system.en
dc.language.isoengen
dc.publisher|aCenter for Economic Studies and ifo Institute (CESifo) |cMunichen
dc.relation.ispartofseries|aCESifo Working Paper |x3312en
dc.subject.jelH20en
dc.subject.jelO10en
dc.subject.jelE60en
dc.subject.ddc330en
dc.subject.keywordtax policyen
dc.subject.keyworddeveloping countriesen
dc.subject.keywordregime-dependent elasticityen
dc.subject.stwSteuerpolitiken
dc.subject.stwSteueraufkommenen
dc.subject.stwElastizitäten
dc.subject.stwWirtschaftswachstumen
dc.subject.stwEntwicklungsländeren
dc.subject.stwLateinamerikaen
dc.titleGrowth and volatility of tax revenues in Latin America-
dc.typeWorking Paperen
dc.identifier.ppn659011034en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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