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    Promoting Growth, Maintaining Progressivity, and Dealing with the Fiscal Crisis CGE Simulations of a Temporary VAT Used for Debt Reduction

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    Author
    Diamond, John W.; Zodrow, George R.
    Date
    2013
    Abstract
    Trade-offs between economic efficiency, growth, and distributional equity permeate economics, including discussions of tax policy and tax reform. Computable general equilibrium (CGE) modeling is one tool that is often used to estimate the magnitudes of the variables that determine the efficiency, growth, and equity properties of alternative tax reforms. In this article, we report the results of simulations of a CGE model that examines the economic and distributional effects of the enactment in the United States of a temporary value-added tax used to reduce the level of the national debt. The results suggest that such a reform is generally moderately progressive both for cohorts alive at the time of reform and for future generations, at least within the context of lifetime measures of tax burden, and that current middle-aged and elderly generations must bear a burden to confer a gain, relative to the status quo, on younger and future generations.
    Citation
    Diamond, John W. and Zodrow, George R.. "Promoting Growth, Maintaining Progressivity, and Dealing with the Fiscal Crisis CGE Simulations of a Temporary VAT Used for Debt Reduction." Public Finance Review, 41, no. 6 (2013) Sage: 852-884. http://dx.doi.org/10.1177/1091142113499399.
    Published Version
    http://dx.doi.org/10.1177/1091142113499399
    Keyword
    economic growth; progressivity; debt reduction; computable general equilibrium modeling; value-added taxation
    Type
    Journal article
    Publisher
    Sage
    Citable link to this page
    https://hdl.handle.net/1911/91692
    Link to related resources
    http://www.bakerinstitute.org/research/promoting-growth-maintaining-progressivity-and-dealing-fiscal-crisis-cge-simulations-temporary-vat-u/
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    Managed by the Digital Scholarship Services at Fondren Library, Rice University
    Physical Address: 6100 Main Street, Houston, Texas 77005
    Mailing Address: MS-44, P.O.BOX 1892, Houston, Texas 77251-1892
    Site Map