Income Inequality And Fiscal Policy

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Inequality and Fiscal Policy

Author : Mr.Benedict J. Clements
Publisher : International Monetary Fund
ISBN 13 : 1513567756
Total Pages : 450 pages
Book Rating : 4.5/5 (135 download)

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Book Synopsis Inequality and Fiscal Policy by : Mr.Benedict J. Clements

Download or read book Inequality and Fiscal Policy written by Mr.Benedict J. Clements and published by International Monetary Fund. This book was released on 2015-09-21 with total page 450 pages. Available in PDF, EPUB and Kindle. Book excerpt: The sizeable increase in income inequality experienced in advanced economies and many parts of the world since the 1990s and the severe consequences of the global economic and financial crisis have brought distributional issues to the top of the policy agenda. The challenge for many governments is to address concerns over rising inequality while simultaneously promoting economic efficiency and more robust economic growth. The book delves into this discussion by analyzing fiscal policy and its link with inequality. Fiscal policy is the government’s most powerful tool for addressing inequality. It affects households ‘consumption directly (through taxes and transfers) and indirectly (via incentives for work and production and the provision of public goods and individual services such as education and health). An important message of the book is that growth and equity are not necessarily at odds; with the appropriate mix of policy instruments and careful policy design, countries can in many cases achieve better distributional outcomes and improve economic efficiency. Country studies (on the Netherlands, China, India, Republic of Congo, and Brazil) demonstrate the diversity of challenges across countries and their differing capacity to use fiscal policy for redistribution. The analysis presented in the book builds on and extends work done at the IMF, and also includes contributions from leading academics.

Inequality and Fiscal Policy

Author : Mr.Benedict J. Clements
Publisher : International Monetary Fund
ISBN 13 : 1513509993
Total Pages : 721 pages
Book Rating : 4.5/5 (135 download)

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Book Synopsis Inequality and Fiscal Policy by : Mr.Benedict J. Clements

Download or read book Inequality and Fiscal Policy written by Mr.Benedict J. Clements and published by International Monetary Fund. This book was released on 2015-09-21 with total page 721 pages. Available in PDF, EPUB and Kindle. Book excerpt: The sizeable increase in income inequality experienced in advanced economies and many parts of the world since the 1990s and the severe consequences of the global economic and financial crisis have brought distributional issues to the top of the policy agenda. The challenge for many governments is to address concerns over rising inequality while simultaneously promoting economic efficiency and more robust economic growth. The book delves into this discussion by analyzing fiscal policy and its link with inequality. Fiscal policy is the government’s most powerful tool for addressing inequality. It affects households ‘consumption directly (through taxes and transfers) and indirectly (via incentives for work and production and the provision of public goods and individual services such as education and health). An important message of the book is that growth and equity are not necessarily at odds; with the appropriate mix of policy instruments and careful policy design, countries can in many cases achieve better distributional outcomes and improve economic efficiency. Country studies (on the Netherlands, China, India, Republic of Congo, and Brazil) demonstrate the diversity of challenges across countries and their differing capacity to use fiscal policy for redistribution. The analysis presented in the book builds on and extends work done at the IMF, and also includes contributions from leading academics.

Income Inequality and Fiscal Policy (2nd Edition)

Author : Ms.Francesca Bastagli
Publisher : International Monetary Fund
ISBN 13 : 1475510853
Total Pages : 37 pages
Book Rating : 4.4/5 (755 download)

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Book Synopsis Income Inequality and Fiscal Policy (2nd Edition) by : Ms.Francesca Bastagli

Download or read book Income Inequality and Fiscal Policy (2nd Edition) written by Ms.Francesca Bastagli and published by International Monetary Fund. This book was released on 2012-09-27 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt: This note will describe recent trends in income inequality in both advanced and developing economies and how tax and expenditure policies have impacted on these trends. It will discuss how tax and expenditure policies should be designed to bring about a more equitable distribution of income, as well as to protect the most vulnerable populations during periods of fiscal consolidation.

Excerpt: Inequality and Fiscal Policy

Author : Mr.Benedict J. Clements
Publisher : International Monetary Fund
ISBN 13 : 1513521543
Total Pages : 32 pages
Book Rating : 4.5/5 (135 download)

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Book Synopsis Excerpt: Inequality and Fiscal Policy by : Mr.Benedict J. Clements

Download or read book Excerpt: Inequality and Fiscal Policy written by Mr.Benedict J. Clements and published by International Monetary Fund. This book was released on 2015-09-09 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper is an excerpt from Inequality and Fiscal Policy. The sizeable increase in income inequality experienced in advanced economies and many parts of the world since the 1990s and the severe consequences of the global economic and financial crisis have brought issues on equity and distribution to the top of the policy agenda. The book delves into this discussion by analyzing fiscal policy and its link with inequality. Fiscal policy is the government’s most powerful tool for addressing inequality. It affects household consumption directly and indirectly. An important message of the book is that growth and equity are not necessarily at odds; with the appropriate mix of policy instruments and careful policy design, countries can in many cases achieve better distributional outcomes and improve economic efficiency. Country case studies demonstrate the diversity of challenges and the diverging ways to use fiscal policy for redistribution. The analysis presented in the book builds on work by IMF economists and leading academics.

Fiscal Policy and Income Inequality

Author : International Monetary Fund
Publisher : International Monetary Fund
ISBN 13 : 1498343678
Total Pages : 69 pages
Book Rating : 4.4/5 (983 download)

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Book Synopsis Fiscal Policy and Income Inequality by : International Monetary Fund

Download or read book Fiscal Policy and Income Inequality written by International Monetary Fund and published by International Monetary Fund. This book was released on 2014-07-03 with total page 69 pages. Available in PDF, EPUB and Kindle. Book excerpt: NULL

The Great Divide: Regional Inequality and Fiscal Policy

Author : William Gbohoui
Publisher : International Monetary Fund
ISBN 13 : 1498312837
Total Pages : 41 pages
Book Rating : 4.4/5 (983 download)

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Book Synopsis The Great Divide: Regional Inequality and Fiscal Policy by : William Gbohoui

Download or read book The Great Divide: Regional Inequality and Fiscal Policy written by William Gbohoui and published by International Monetary Fund. This book was released on 2019-05-02 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt: Growing regional inequality within countries has raised the perception that “some places and people” are left behind. This has prompted a shift toward inward-looking policies and away from pro-growth reforms. This paper presents novel stylized facts on regional inequality for OECD countries. It shows that regional disparity in per-capita GDP is large (even after adjusting for regional price differences), persistent, and widening over time. The paper also finds that rising nationwide income inequality is associated with both rising within-region income inequality and widening average income across regions. The rise in inequality is related to declining incentives for interregional labor mobility, especially for poor households in lagging regions, which are estimated to reduce by as much as one-third in the United States. Against these facts, the paper proposes a framework to identify whether, how and by whom fiscal policies can be used to tackle regional inequality. It outlines conditions under which those policies should be spatially-targeted and illustrates how they can be complementary to conventional means-testing methods in mitigating income inequality.

Growing (Un)equal

Author : Mr.Serhan Cevik
Publisher : International Monetary Fund
ISBN 13 : 1484300602
Total Pages : 26 pages
Book Rating : 4.4/5 (843 download)

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Book Synopsis Growing (Un)equal by : Mr.Serhan Cevik

Download or read book Growing (Un)equal written by Mr.Serhan Cevik and published by International Monetary Fund. This book was released on 2015-03-25 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper investigates the empirical characteristics of income inequality in China and a panel of BRIC+ countries over the period 1980–2013, with a focus on the redistributive contribution of fiscal policy. Using instrumental variable techniques to deal with potential endogeneity, we find evidence supporting the hypothesis of the existence of a Kuznets curve—an inverted Ushaped relationship between income inequality and economic development—in China and the panel of BRIC+ countries. In the case of China, the empirical results indicate that government spending and taxation have opposing effects on income inequality. While government spending appears to have a worsening impact, taxation improves income distribution. Even though the redistributive effect of fiscal policy in China appears to be stronger than what we identify in the BRIC+ panel, it is not large enough to compensate for the adverse impact of other influential factors.

Fiscal Redistribution and Social Welfare

Author : Mr.David Coady
Publisher : International Monetary Fund
ISBN 13 : 1484398084
Total Pages : 30 pages
Book Rating : 4.4/5 (843 download)

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Book Synopsis Fiscal Redistribution and Social Welfare by : Mr.David Coady

Download or read book Fiscal Redistribution and Social Welfare written by Mr.David Coady and published by International Monetary Fund. This book was released on 2019-03-08 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: Fiscal policy is a key tool for achieving distributional objectives in advanced economies. This paper embeds the discussion of fiscal redistribution within the standard social welfare framework, which lends itself to a transparent and practical evaluation of the extent and determinants of fiscal redistribution. Differences in fiscal redistribution are decomposed into differences in the magnitude of transfers (fiscal effort) and in the progressivity of transfers (fiscal progressivity). Fiscal progressivity is further decomposed into differences in the distribution of transfers across income groups (targeting performance) and in the social welfare returns to targeting due to varying initial levels of income inequality (targeting returns). This decomposition provides a clear distinction between the concepts of progressivity and targeting, and clarifies the relationship between them. For illustrative purposes, the framework is applied to data for 28 EU countries to determine the factors explaining differences in their fiscal redistribution and to discuss patterns in fiscal redistribution highlighted in the literature.

Fiscal Monitor, October 2017

Author : International Monetary Fund. Fiscal Affairs Dept.
Publisher : International Monetary Fund
ISBN 13 : 1484317491
Total Pages : 128 pages
Book Rating : 4.4/5 (843 download)

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Book Synopsis Fiscal Monitor, October 2017 by : International Monetary Fund. Fiscal Affairs Dept.

Download or read book Fiscal Monitor, October 2017 written by International Monetary Fund. Fiscal Affairs Dept. and published by International Monetary Fund. This book was released on 2017-10-11 with total page 128 pages. Available in PDF, EPUB and Kindle. Book excerpt: At the global level, inequality has declined substantially over the past three decades, but within national boundaries, the picture is mixed: some countries have experienced a reduction in inequality while others, particularly advanced economies, have seen a significant increase that has, among other things, contributed to growing public backlash against globalization. Excessive levels of inequality can erode social cohesion, lead to political polarization, and ultimately lower economic growth, but whether inequality is excessive depends on country-specific factors, including the growth context in which inequality arises, along with societal preferences. This Fiscal Monitor focuses on how fiscal policy can help governments address high levels of inequality while minimizing potential trade-offs between efficiency and equity. It documents recent trends in income inequality, including inequality both between and within countries, then examines the redistributive role of fiscal policies over recent decades and underscores the importance of appropriate design to minimize any efficiency costs. It then focuses on some key components of fiscal redistribution: progressivity of income taxation, universal basic income, and public spending policies for achieving more equitable education and health outcomes. The analysis relies on the existing theoretical and empirical literature, IMF work on inequality and fiscal policy, country experiences, and new analytical work, including various static microsimulation analyses based on household survey data. Simulations using a dynamic general equilibrium model calibrated to country-specific data and behavioral parameters illustrate the potential impact of alternative budget-neutral tax and transfer measures on income inequality and economic growth.

Commitment to Equity Handbook

Author : Nora Lustig
Publisher : Brookings Institution Press
ISBN 13 : 0815740476
Total Pages : 1437 pages
Book Rating : 4.8/5 (157 download)

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Book Synopsis Commitment to Equity Handbook by : Nora Lustig

Download or read book Commitment to Equity Handbook written by Nora Lustig and published by Brookings Institution Press. This book was released on 2023-05-01 with total page 1437 pages. Available in PDF, EPUB and Kindle. Book excerpt: Edited by Nora Lustig, the Commitment to Equity Handbook: Estimating the Impact of Fiscal Policy on Inequality and Poverty (Brookings Institution Press and CEQ Institute-Tulane University, 2nd edition, 2022) is a unique manual on the theory and practical methods to estimate the impact of taxation and public spending on inequality and poverty. In addition, the second edition covers frontier topics such as alternative approaches to measure the redistributive effect of education, health, and infrastructure spending. Policymakers, social planners, and economists are provided with a step-by-step guide to applying fiscal incidence analysis, illustrated by country studies. The 2nd edition of the Handbook has two volumes. Volume 1 is comprised of Part I, Methodology, describes what a CEQ Assessment© is and presents the theoretical underpinnings of fiscal incidence analysis and the indicators used to assess the distributive impact and effectiveness of fiscal policy. Part II, Implementation, presents the methodology on how taxes, subsidies, and social spending should be allocated. It includes a step-by step guide to completing the CEQ Master Workbook©, a multi-sheet Excel file that houses detailed information on the country’s fiscal system and the results used as inputs for policy discussions, academic papers, and policy reports. Part III, “Applications,” presents applications of the CEQ framework to low- and middle-income countries and includes simulations of policy reforms. In this 2nd edition, chapters 1, 6, and 8 have been significantly updated and two new country studies have been added to Part III. Parts IV (updated), V (new), and VI (new) are available online only. Part IV contains the CEQ Assessment’s main tools. Part V includes the databases housed in the CEQ Data Center on Fiscal Redistribution. Part VI contains the CEQ Institute’s microsimulation tools. Volume 2 (new) includes a collection of chapters whose purpose is to expand the knowledge and methodological frontiers to sharpen even further the analysis of fiscal policy’s redistributive impact. Topics include: alternative approaches to value in-kind education and health services; alternative methods to evaluate spending on infrastructure; corporate taxes and taxation on capital incomes; inter-temporal fiscal incidence and the redistributive consequences of social insurance pensions; fiscal redistribution, macroeconomic stability and growth; and, the political economy of fiscal redistribution.

Fiscal Reforms, Long-term Growth and Income Inequality

Author : Mr.Santiago Acosta Ormaechea
Publisher : International Monetary Fund
ISBN 13 : 1484303687
Total Pages : 46 pages
Book Rating : 4.4/5 (843 download)

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Book Synopsis Fiscal Reforms, Long-term Growth and Income Inequality by : Mr.Santiago Acosta Ormaechea

Download or read book Fiscal Reforms, Long-term Growth and Income Inequality written by Mr.Santiago Acosta Ormaechea and published by International Monetary Fund. This book was released on 2017-06-29 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt: We estimate the effects on growth of nine fiscal reform episodes in seven high-income countries using the Synthetic Control Method. These episodes are selected using an indicator-based approach applied to the evaluation of growth-friendly fiscal reforms during 1975-2010. We find that in reform countries the annual growth rate of real GDP was on average about 1 percentage point above their synthetic units 10 years after each respective reform. Moreover, countries which were initially less developed seemed to experience a larger growth impact after their reforms. Results are broadly robust to controlling for structural reforms on business regulation, financial market, labor market, and legal and product markets, which may also affect growth. Our findings also suggest that inequality is not affected by the growth-friendly fiscal reforms analyzed in this paper.

Inequality and Tax Policy

Author : Kevin A. Hassett
Publisher : American Enterprise Institute
ISBN 13 : 9780844741444
Total Pages : 268 pages
Book Rating : 4.7/5 (414 download)

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Book Synopsis Inequality and Tax Policy by : Kevin A. Hassett

Download or read book Inequality and Tax Policy written by Kevin A. Hassett and published by American Enterprise Institute. This book was released on 2001 with total page 268 pages. Available in PDF, EPUB and Kindle. Book excerpt: Top economists provide much-needed guidance--and some surprising conclusions--in response to rising public concerns about inequality in the U.S. tax system.

Inequality and Fiscal Policy Effectiveness

Author : Ju Hyun Pyun
Publisher :
ISBN 13 :
Total Pages : 38 pages
Book Rating : 4.:/5 (13 download)

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Book Synopsis Inequality and Fiscal Policy Effectiveness by : Ju Hyun Pyun

Download or read book Inequality and Fiscal Policy Effectiveness written by Ju Hyun Pyun and published by . This book was released on 2015 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the role of income inequality in determining fiscal policy effectiveness by using panel data of 42 advanced and developing countries during Q1 2000-Q3 2007. Our panel VAR analysis shows that the effect of fiscal policy on output is smaller in economies with high income inequality: the 1-year fiscal multiplier for a country with relatively equal income distribution is estimated to be significant at 0.52 or greater significantly, while that for a country with relatively unequal income distribution is insignificant from zero. The responses of consumption to an expansionary fiscal policy shock show that consumption is more crowded-out for relatively more unequal economies, thus affirming that the low-income households in the economies with high inequality tend to have strong incentives to save additional income from fiscal policy for precautionary reasons.

Fiscal Adjustment and Income Inequality

Author : João Pedro Azevedo
Publisher : International Monetary Fund
ISBN 13 : 1484385535
Total Pages : 31 pages
Book Rating : 4.4/5 (843 download)

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Book Synopsis Fiscal Adjustment and Income Inequality by : João Pedro Azevedo

Download or read book Fiscal Adjustment and Income Inequality written by João Pedro Azevedo and published by International Monetary Fund. This book was released on 2014-05-12 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: We combine state-level fiscal data with household survey data to assess the links between sub-national fiscal policy and income inequality in Brazil over the period 1995-2011. The results indicate that a tighter fiscal stance at the sub-national level is not associated with a deterioration in inequality measures. This finding contrasts with the conclusions of several papers in the burgeoning literature on the effects of fiscal consolidation on inequality using national data for OECD economies. In addition, we find that a tighter stance is typically positively associated with a measure of “shared prosperity”. Hence, our results caution against extrapolating policy implications of the literature focusing on advanced economies to other settings.

Causes and Consequences of Income Inequality

Author : Ms.Era Dabla-Norris
Publisher : International Monetary Fund
ISBN 13 : 1513547437
Total Pages : 39 pages
Book Rating : 4.5/5 (135 download)

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Book Synopsis Causes and Consequences of Income Inequality by : Ms.Era Dabla-Norris

Download or read book Causes and Consequences of Income Inequality written by Ms.Era Dabla-Norris and published by International Monetary Fund. This book was released on 2015-06-15 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper analyzes the extent of income inequality from a global perspective, its drivers, and what to do about it. The drivers of inequality vary widely amongst countries, with some common drivers being the skill premium associated with technical change and globalization, weakening protection for labor, and lack of financial inclusion in developing countries. We find that increasing the income share of the poor and the middle class actually increases growth while a rising income share of the top 20 percent results in lower growth—that is, when the rich get richer, benefits do not trickle down. This suggests that policies need to be country specific but should focus on raising the income share of the poor, and ensuring there is no hollowing out of the middle class. To tackle inequality, financial inclusion is imperative in emerging and developing countries while in advanced economies, policies should focus on raising human capital and skills and making tax systems more progressive.

Inequality, Inclusive Growth, and Fiscal Policy in Asia

Author : Donghyun Park
Publisher : Routledge
ISBN 13 : 1317530934
Total Pages : 305 pages
Book Rating : 4.3/5 (175 download)

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Book Synopsis Inequality, Inclusive Growth, and Fiscal Policy in Asia by : Donghyun Park

Download or read book Inequality, Inclusive Growth, and Fiscal Policy in Asia written by Donghyun Park and published by Routledge. This book was released on 2015-04-17 with total page 305 pages. Available in PDF, EPUB and Kindle. Book excerpt: Developing Asia’s sustained rapid growth has improved general living standards and lifted hundreds of millions of Asians out of poverty within a generation. Yet the region now finds itself confronting rising inequality. Countries where inequality has worsened over the past 2 decades collectively account for over 80% of Asia’s population. As a result, governments across the region have begun to accord a higher priority to promoting more inclusive growth. The international experience, especially the experience of the advanced economies, suggests that fiscal policy can make a potent contribution to reducing inequality. This book systematically explores the relationship between both sides of fiscal policy—public spending as well as taxes and other fiscal revenues—and inequality in Asia at great depths. On the basis of the analysis, the book sets forth a number of concrete options for rendering fiscal policy a more effective tool for more inclusive growth that benefits all Asians. Inequality, Inclusive Growth, and Fiscal Policy in Asia is written in response to an issue of growing demand in most Asian countries, and it comes at a time when Asian governments are also beginning to use fiscal policy to bridge the glaring disparities between the rich and the poor of the region. As such, the book will be a highly valuable reference for researchers, policy makers, and students as well.

The Effects of Monetary Policy Shocks on Inequality

Author : Davide Furceri
Publisher : International Monetary Fund
ISBN 13 : 1475568355
Total Pages : 43 pages
Book Rating : 4.4/5 (755 download)

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Book Synopsis The Effects of Monetary Policy Shocks on Inequality by : Davide Furceri

Download or read book The Effects of Monetary Policy Shocks on Inequality written by Davide Furceri and published by International Monetary Fund. This book was released on 2017-01-18 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper provides new evidence of the effect of monetary policy shocks on income inequality. Using a measure of unanticipated changes in policy rates for a panel of 32 advanced and emerging market countries over the period 1990-2013, the paper finds that contractionary (expansionary) monetary actions increase (reduce) income inequality. The effect, however, varies over time, depending on the type of the shocks (tightening versus expansionary monetary policy) and the state of the business cycle, and across countries depending on the share of labor income and redistribution policies. In particular, we find that the effect is larger for positive monetary policy shocks, especially during expansions. Looking across countries, we find that the effect is larger in countries with higher labor share of income and smaller redistribution policies. Finally, while an unexpected increase in policy rates increases inequality, changes in policy rates driven by an increase in growth are associated with lower inequality.