How to Achieve Growth- and Equity-Friendly Fiscal Consolidation? A Proposed Methodology for Instrument Choice with an Illustrative Application to OECD Countries

Cournède, Boris; Goujard, Antoine; Pina, Álvaro

doi:10.2139/ssrn.2650018

Cited by 32 publications

(32 citation statements)

References 71 publications

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“…On the tax side, S3 reveals a negative effect on TFP when shifting consumption or other taxes towards more personal taxes. This is in line with existing literature (see among others Ferreira and Pessoa, 2007;Cournède et al, 2013). Note, however, that in S3 the effect is not statistically significant.…”

Section: Direct Effects Of Fiscal Policysupporting

confidence: 92%

“…An increase in unproductive expenditures financed by consumption taxes has a significant positive effect on TFP whereas when financed by other taxes (mainly property taxes) or personal taxes, the effect on TFP turns negative. These results are in line with the findings of Cournède et al (2013) and further confirm that an appropriate classification into various categories is important when analyzing the impact of taxes.…”

Section: Direct Effects Of Fiscal Policysupporting

confidence: 89%

“…Taxes on labor income of young individuals, however, reduce the opportunity cost of education and may therefore promote schooling (Heylen and Van de Kerckhove, 2013). Finally, a shift towards consumption taxes is expected to have positive effects as this tax category is considered to be the least distortionary (Cournède et al, 2013).…”

Section: Direct Effects Of Fiscal Policy On Tfpmentioning

confidence: 99%

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Fiscal policy and TFP in the OECD: measuring direct and indirect effects

2014

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Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. Terms of use: Documents in Statement of purpose:The purpose of these working papers is to promote the circulation of research results (Research Series) and analytical studies (Documents Series) made within the National Bank of Belgium or presented by external economists in seminars, conferences and conventions organised by the Bank. The aim is therefore to provide a platform for discussion. The opinions expressed are strictly those of the authors and do not necessarily reflect the views of the National Bank of Belgium. JEL classification: C31, C33, E62, O38 Orders

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Section: Direct Effects Of Fiscal Policysupporting

confidence: 92%

Section: Direct Effects Of Fiscal Policysupporting

confidence: 89%

Section: Direct Effects Of Fiscal Policy On Tfpmentioning

confidence: 99%

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Fiscal policy and TFP in the OECD: measuring direct and indirect effects

2014

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“…Starting from earlier work on fiscal consolidation for which a single-year data file was constructed (Cournède et al, 2013), detailed expenditure and revenue items were grouped to arrive at a comprehensive breakdown. Taking this idea to the next step, this recent database takes into account not only a breakdown of fiscal items by policy area, but also includes time variation, cycle variation and structural factors which affect the quality of public finance.…”

mentioning

confidence: 99%

“…The choice of coefficients applied to the various spending and institutional inputs is crucial in this endeavour and therefore a comparison with alternative coefficients is a step to validating the soundness of the measures. The weighting schemes by Cournède et al (2013) were compared to the effects found by Fournier and Johansson (2016) in order to test the robustness of the indicators.…”

mentioning

confidence: 99%

The deterioration of the public spending mix during the global financial crisis

Bloch

Fournier

2018

OECD Economics Department Working Papers

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This document, as well as any data and map included herein, are without prejudice to the status of or sovereignty over any territory, to the delimitation of international frontiers and boundaries and to the name of any territory, city or area. ECO/WKP(2018)13 Unclassified English -Or. English ECO/WKP(2018)13 2 OECD Working Papers should not be reported as representing the official views of the OECD or of its member countries. The opinions expressed and arguments employed are those of the author(s).Working Papers describe preliminary results or research in progress by the author(s) and are published to stimulate discussion on a broad range of issues on which the OECD works.Comments on Working Papers are welcomed, and may be sent to OECD Economics Department, 2 rue André Pascal, 75775 Paris Cedex 16, France, or by e-mail to eco.contact@oecd.org. AllEconomics Department Working Papers are available at www.oecd.org/eco/workingpapers.The statistical data for Israel are supplied by and under the responsibility of the relevant Israeli authorities. The use of such data by the OECD is without prejudice to the status of the Golan Heights, East Jerusalem and Israeli settlements in the West Bank under the terms of international law. © OECD (2018)You can copy, download or print OECD content for your own use, and you can include excerpts from OECD publications, databases and multimedia products in your own documents, presentations, blogs, websites and teaching materials, provided that suitable acknowledgment of OECD as source and copyright owner is given. All requests for commercial use and translation rights should be submitted to rights@oecd.org ECO/WKP(2018)13 3 ABSTRACT/RÉSUMÉThe deterioration of the public spending mix during the global financial crisis: Insights from new indicators New indicators measuring the effects of public spending on inclusive growth have been constructed using recent empirical work by Fournier and Johansson (2016) and a recent public finance dataset (Bloch et al., 2016). A first set of indicators combines information on the mix of public spending. Each spending item share is multiplied with an estimated coefficient from growth and inequality equations to build both a growth and an income distribution component, which is then summed up to an aggregate inclusive growth indicator. The spending mix analysis cannot, however, measure the effectiveness of public spending within individual spending items, which is difficult to observe in a comparable manner across countries. A second set of indicators attempts to at least partly overcome this limitation by including information on the size and perceived effectiveness of governments. The average of the spending mix indicator and the size and effectiveness indicator provides an indicative overall indicator on the effects of public spending on inclusive growth. The analysis suggests that countries with a counter-cyclical fiscal stance typically have a public spending structure that is more supportive of inclusive growth. There is also a striking link betwee...

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The distributional impact of labour market reforms: A model-based assessment

Roeger

Varga

Veld

et al. 2021

European Economic Review

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How to Achieve Growth- and Equity-Friendly Fiscal Consolidation? A Proposed Methodology for Instrument Choice with an Illustrative Application to OECD Countries

Abstract: Complete document available on OLIS in its original format This document and any map included herein are without prejudice to the status of or sovereignty over any territory, to the delimitation of international frontiers and boundaries and to the name of any territory, city or area.

Cited by 32 publications

References 71 publications

Fiscal policy and TFP in the OECD: measuring direct and indirect effects

Fiscal policy and TFP in the OECD: measuring direct and indirect effects

The deterioration of the public spending mix during the global financial crisis

The distributional impact of labour market reforms: A model-based assessment

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