We use a small open economy general equilibrium model to analyse the effects of a fiscal devaluation in an EMU country. The model has been calibrated for the Spanish economy, which is a good example of the advantages of a change in the tax mix given that its tax system shows a positive bias in the ratio of social security contributions over consumption taxes. The preliminary empirical evidence for European countries shows that this bias was negatively correlated with the current account balance in the expansionary years leading up to the 2009 crisis, a period when many EMU members accumulated large external imbalances. Our simulation results point to significant positive effects of a fiscal devaluation on GDP and employment similar to the ones that could be obtained with an ex-change rate devaluation. However, although the effects in terms of GDP and employment are similar, the composition effects of fiscal and nominal devaluations are not alike. In both cases, there is an improvement in net exports, but the effects on domestic and external demand are quite different.
{"title":"Fiscal Devaluations in EMU","authors":"J. E. Boscá, R. Doménech, J. Ferri","doi":"10.7866/HPE-RPE.13.3.2","DOIUrl":"https://doi.org/10.7866/HPE-RPE.13.3.2","url":null,"abstract":"We use a small open economy general equilibrium model to analyse the effects of a fiscal devaluation in an EMU country. The model has been calibrated for the Spanish economy, which is a good example of the advantages of a change in the tax mix given that its tax system shows a positive bias in the ratio of social security contributions over consumption taxes. The preliminary empirical evidence for European countries shows that this bias was negatively correlated with the current account balance in the expansionary years leading up to the 2009 crisis, a period when many EMU members accumulated large external imbalances. Our simulation results point to significant positive effects of a fiscal devaluation on GDP and employment similar to the ones that could be obtained with an ex-change rate devaluation. However, although the effects in terms of GDP and employment are similar, the composition effects of fiscal and nominal devaluations are not alike. In both cases, there is an improvement in net exports, but the effects on domestic and external demand are quite different.","PeriodicalId":48669,"journal":{"name":"Hacienda Publica Espanola-Review of Public Economics","volume":"206 1","pages":"27-56"},"PeriodicalIF":0.7,"publicationDate":"2013-09-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"71306267","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Este trabajo aborda la integracion del sistema Especial de Empleados del Hogar en el Regimen General de la Seguridad Social utilizando informacion sobre empleados del hogar que atienden a personas dependientes. Se han comparado los efectos del Real Decreto 1620/2011 y Real Decreto-Ley 29/2012. Esta segunda reforma supone una reduccion del ahorro en las cuotas por contingencias comunes y profesionales de las que se beneficiaban empleados y empleadores con la primera reforma. Las simulaciones de ingresos de la Tesoreria de la Seguridad Social durante 2013-2019, en los diferentes escenarios, muestran un incremento de los ingresos con el segundo texto legislativo.
{"title":"Impacto sobre las cotizaciones sociales de la integración del Sistema Especial de Empleados del Hogar en el Régimen General: aplicación a los empleados que atienden a personas en situación de dependencia","authors":"Cristina Vilaplana Prieto","doi":"10.7866/HPE-RPE.13.2.2","DOIUrl":"https://doi.org/10.7866/HPE-RPE.13.2.2","url":null,"abstract":"Este trabajo aborda la integracion del sistema Especial de Empleados del Hogar en el Regimen General de la Seguridad Social utilizando informacion sobre empleados del hogar que atienden a personas dependientes. Se han comparado los efectos del Real Decreto 1620/2011 y Real Decreto-Ley 29/2012. Esta segunda reforma supone una reduccion del ahorro en las cuotas por contingencias comunes y profesionales de las que se beneficiaban empleados y empleadores con la primera reforma. Las simulaciones de ingresos de la Tesoreria de la Seguridad Social durante 2013-2019, en los diferentes escenarios, muestran un incremento de los ingresos con el segundo texto legislativo.","PeriodicalId":48669,"journal":{"name":"Hacienda Publica Espanola-Review of Public Economics","volume":"205 1","pages":"33-69"},"PeriodicalIF":0.7,"publicationDate":"2013-06-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"71306110","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
We present a model which allows us to show that stratification of public universities, according to the quality they offer and the quality of students they select, is a plausible result even in a public university system where tuition fees are uniform and decided by the administration. This result is similar to that observed in private and competitive university systems. We prove that it is very unlikely that segregation and stratification could be avoided by subsidizing those universities that are more inefficient. We show also that even if stratification and segregation could be removed through subsidies, it would be at the cost of reducing quality of education at the whole university system.
{"title":"Stratification of Public Universities and Students’ Segregation","authors":"J. Villalonga","doi":"10.7866/HPE-RPE.13.2.4","DOIUrl":"https://doi.org/10.7866/HPE-RPE.13.2.4","url":null,"abstract":"We present a model which allows us to show that stratification of public universities, according to the quality they offer and the quality of students they select, is a plausible result even in a public university system where tuition fees are uniform and decided by the administration. This result is similar to that observed in private and competitive university systems. We prove that it is very unlikely that segregation and stratification could be avoided by subsidizing those universities that are more inefficient. We show also that even if stratification and segregation could be removed through subsidies, it would be at the cost of reducing quality of education at the whole university system.","PeriodicalId":48669,"journal":{"name":"Hacienda Publica Espanola-Review of Public Economics","volume":"205 1","pages":"99-124"},"PeriodicalIF":0.7,"publicationDate":"2013-06-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"71306155","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The main objective of this paper consists of analyzing regional public sector enterprises (PSEs) in Spain. We provide a general overview of Autonomous Communities’ (ACs) financial resources in the context of the Stability and Growth Pact and Budgetary Stability Act. From 2002, such regulation imposes stringent constraints on ACs’ indebtedness. We investigate the PSEs as an alternative to traditional financing mechanisms. Descriptive and econometric analyses confirm our expectations related to this ‘shift effect’. In a dynamic context, a significant link between public debt and the creation of PSEs debt shows that ACs used public enterprises to avoid stringent financial rules.
{"title":"The Role of Regional Public Enterprises in Spain: Room for a Shadow Government?","authors":"Roberto Fernández Llera, M. G. Valiñas","doi":"10.7866/HPE-RPE13.2.1","DOIUrl":"https://doi.org/10.7866/HPE-RPE13.2.1","url":null,"abstract":"The main objective of this paper consists of analyzing regional public sector enterprises (PSEs) in Spain. We provide a general overview of Autonomous Communities’ (ACs) financial resources in the context of the Stability and Growth Pact and Budgetary Stability Act. From 2002, such regulation imposes stringent constraints on ACs’ indebtedness. We investigate the PSEs as an alternative to traditional financing mechanisms. Descriptive and econometric analyses confirm our expectations related to this ‘shift effect’. In a dynamic context, a significant link between public debt and the creation of PSEs debt shows that ACs used public enterprises to avoid stringent financial rules.","PeriodicalId":48669,"journal":{"name":"Hacienda Publica Espanola-Review of Public Economics","volume":"205 1","pages":"9-31"},"PeriodicalIF":0.7,"publicationDate":"2013-06-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"71307001","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
En esta nota se introducen algunos ajustes a los datos presupuestarios disponibles sobre los ingresos y los gastos de las comunidades autonomas con el fin de corregir las distorsiones generadas por la forma en la que se han contabilizado algunas partidas. Las series ajustadas se utilizan para analizar la evolucion de las finanzas regionales durante la crisis actual y la parte final de la expansion precedente. El ejercicio ayuda a poner en perspectiva la actual controversia sobre las finanzas autonomicas. En ella se suele poner el acento en la dureza de los recortes de los ultimos ejercicios, olvidando la temeraria explosion del gasto durante los anos anteriores al comienzo de la crisis. Cuando se toma el periodo en su conjunto, el proceso de consolidacion presupuestaria que comienza en 2010 aparece como una correccion parcial y tardia de los excesos de anos anteriores. De cara al futuro, convendria tomar medidas que ayuden a hacer menos prociclico el patron de gasto autonomico. Aunque esto ya se hace en parte en la nueva Ley de Estabilidad Presupuestaria, se argumenta que seria conveniente crear un Fondo de Estabilizacion Presupuestaria para facilitar el alisamiento del gasto regional.
{"title":"Las Finanzas autonómicas en boom y en crisis (2003-12)","authors":"Á. D. L. Fuente","doi":"10.7866/HPE-RPE.13.2.5","DOIUrl":"https://doi.org/10.7866/HPE-RPE.13.2.5","url":null,"abstract":"En esta nota se introducen algunos ajustes a los datos presupuestarios disponibles sobre los ingresos y los gastos de las comunidades autonomas con el fin de corregir las distorsiones generadas por la forma en la que se han contabilizado algunas partidas. Las series ajustadas se utilizan para analizar la evolucion de las finanzas regionales durante la crisis actual y la parte final de la expansion precedente. El ejercicio ayuda a poner en perspectiva la actual controversia sobre las finanzas autonomicas. En ella se suele poner el acento en la dureza de los recortes de los ultimos ejercicios, olvidando la temeraria explosion del gasto durante los anos anteriores al comienzo de la crisis. Cuando se toma el periodo en su conjunto, el proceso de consolidacion presupuestaria que comienza en 2010 aparece como una correccion parcial y tardia de los excesos de anos anteriores. De cara al futuro, convendria tomar medidas que ayuden a hacer menos prociclico el patron de gasto autonomico. Aunque esto ya se hace en parte en la nueva Ley de Estabilidad Presupuestaria, se argumenta que seria conveniente crear un Fondo de Estabilizacion Presupuestaria para facilitar el alisamiento del gasto regional.","PeriodicalId":48669,"journal":{"name":"Hacienda Publica Espanola-Review of Public Economics","volume":"205 1","pages":"127-150"},"PeriodicalIF":0.7,"publicationDate":"2013-04-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"71306164","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
One perplexing observation is that although men and women have different comparative advantages, cooperation is often only seen during child-bearing and rearing periods. One interpretation is that the juvenile offspring serves as an indivisible public goods to facilitate cooperation between opposite sexes of adults. We show that moral hazard in maternal parental care will either force the father to pay the mother a rent in order to induce optimal care (when the child is of intrinsic high quality) or set the care level at second best (when the child is of intrinsic low quality). The implications of the model can be extended to many issues in the family economics such as increasing divorce rate, pros and cons of monogamy versus polygyny, and evolving gender roles in human society etc.
{"title":"A Moral Hazard Model of Parental Care","authors":"Baomin Dong, Tianpeng Zhou","doi":"10.7866/HPE-RPE.13.4.4","DOIUrl":"https://doi.org/10.7866/HPE-RPE.13.4.4","url":null,"abstract":"One perplexing observation is that although men and women have different comparative advantages, cooperation is often only seen during child-bearing and rearing periods. One interpretation is that the juvenile offspring serves as an indivisible public goods to facilitate cooperation between opposite sexes of adults. We show that moral hazard in maternal parental care will either force the father to pay the mother a rent in order to induce optimal care (when the child is of intrinsic high quality) or set the care level at second best (when the child is of intrinsic low quality). The implications of the model can be extended to many issues in the family economics such as increasing divorce rate, pros and cons of monogamy versus polygyny, and evolving gender roles in human society etc.","PeriodicalId":48669,"journal":{"name":"Hacienda Publica Espanola-Review of Public Economics","volume":"207 1","pages":"101-115"},"PeriodicalIF":0.7,"publicationDate":"2013-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"71306296","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This paper reviews the literature and contributes with some evidence based on the World Values Survey on the drivers of tax morale worldwide, with an emphasis on developing countries. It shows that socio-economic factors such as age, religion, gender, employment status and educational attainment have a significant impact on people’s levels of tax morale. In terms of institutional determinants, satisfaction with democracy, trust in government and the satisfaction with the quality of public services play an important role in increasing tax morale. The paper also discusses future directions for research and policy action in this area
{"title":"What Drives Tax Morale? A Focus on Emerging Economies","authors":"Christian Daude, H. Gutierrez, Á. Melguizo","doi":"10.7866/HPE-RPE.13.4.1","DOIUrl":"https://doi.org/10.7866/HPE-RPE.13.4.1","url":null,"abstract":"This paper reviews the literature and contributes with some evidence based on the World Values Survey on the drivers of tax morale worldwide, with an emphasis on developing countries. It shows that socio-economic factors such as age, religion, gender, employment status and educational attainment have a significant impact on people’s levels of tax morale. In terms of institutional determinants, satisfaction with democracy, trust in government and the satisfaction with the quality of public services play an important role in increasing tax morale. The paper also discusses future directions for research and policy action in this area","PeriodicalId":48669,"journal":{"name":"Hacienda Publica Espanola-Review of Public Economics","volume":"207 1","pages":"9-40"},"PeriodicalIF":0.7,"publicationDate":"2013-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"71306290","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
By means of a literature review this paper aims at shedding more light on the potentialities of unhealthy food/drink taxation in changing eating patterns and life styles and hence combating the obesity epidemic. One remarkable point that emerges when assessing the set of selected papers is the existence of a wide diversity of objectives, methodologies, settings and datasets, policies implemented and results achieved by all these studies, which undoubtedly adds complexity to any attempt to draw a general conclusion on fast food taxation. Most of the examined studies predict a rather modest fiscal impact on unhealthy food and drinks consumption and/or nutrition intake and consequently a poor result on weight loss and obesity, by the interplay of several factors among them the effects of cross-price elasticities.
{"title":"Taxation of unhealthy consumption of food and drinks: An updated literature review","authors":"Joan Gil, G. Casasnovas, T. Mora","doi":"10.7866/HPE-RPE.13.4.5","DOIUrl":"https://doi.org/10.7866/HPE-RPE.13.4.5","url":null,"abstract":"By means of a literature review this paper aims at shedding more light on the potentialities of unhealthy food/drink taxation in changing eating patterns and life styles and hence combating the obesity epidemic. One remarkable point that emerges when assessing the set of selected papers is the existence of a wide diversity of objectives, methodologies, settings and datasets, policies implemented and results achieved by all these studies, which undoubtedly adds complexity to any attempt to draw a general conclusion on fast food taxation. Most of the examined studies predict a rather modest fiscal impact on unhealthy food and drinks consumption and/or nutrition intake and consequently a poor result on weight loss and obesity, by the interplay of several factors among them the effects of cross-price elasticities.","PeriodicalId":48669,"journal":{"name":"Hacienda Publica Espanola-Review of Public Economics","volume":"207 1","pages":"119-140"},"PeriodicalIF":0.7,"publicationDate":"2013-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"71306338","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
El pasado mes de julio el Ministerio de Hacienda y Administraciones Publicas hizo publica la liquidacion del sistema de financiacion de las comunidades autonomas de regimen comun correspondiente a 2010, que marca la madurez del nuevo modelo acordado en 2009. En el presente trabajo se describe la distribucion de recursos que se fija en este documento, se analizan las fuentes proximas de los cambios observados en la financiacion de las distintas comunidades autonomas entre 2009 y 2010 y se realiza una valoracion de los efectos de la reciente reforma sobre la equidad del reparto territorial de los recursos del sistema.
{"title":"El sistema de financiación regional: La liquidación de 2010 y algunas reflexiones sobre la reciente reforma","authors":"Á. D. L. Fuente","doi":"10.7866/HPE-RPE.12.4.5","DOIUrl":"https://doi.org/10.7866/HPE-RPE.12.4.5","url":null,"abstract":"El pasado mes de julio el Ministerio de Hacienda y Administraciones Publicas hizo publica la liquidacion del sistema de financiacion de las comunidades autonomas de regimen comun correspondiente a 2010, que marca la madurez del nuevo modelo acordado en 2009. En el presente trabajo se describe la distribucion de recursos que se fija en este documento, se analizan las fuentes proximas de los cambios observados en la financiacion de las distintas comunidades autonomas entre 2009 y 2010 y se realiza una valoracion de los efectos de la reciente reforma sobre la equidad del reparto territorial de los recursos del sistema.","PeriodicalId":48669,"journal":{"name":"Hacienda Publica Espanola-Review of Public Economics","volume":"202 1","pages":"121-138"},"PeriodicalIF":0.7,"publicationDate":"2012-10-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"71306100","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
the well-known Atkinson and Stiglitz (1976, section 5) theorem on the superiority of nonlinear direct taxation over nonlinear indirect taxation is proved to hold under the second order approach, even on intervals where the monotonicity constraint is binding. this confirms for the nonlinear case previous findings by Kaplow (2006) and Laroque (2005), who considered a joint combination of linear indirect taxes and, possibly suboptimal, nonlinear income taxation. the intuition behind is that, when indirect taxation is not restricted to linearity, its elimination is only justified if the income taxation scheme becomes optimally chosen, as happens in Atkinson and Stiglitz (1976). In addition, our analysis allows for a more general class of sub-utility functions than the one in the Atkinson and Stiglitz theorem, which includes work done or income further to consumption goods and services. Finally, the possibility that optimal llocations fail to be differentiable, or continuous, is also contemplated unlike in the standard literatura.
{"title":"On the Direct Versus Indirect Taxation Controversy","authors":"X. R. D. Portal","doi":"10.7866/HPE-RPE.12.4.1","DOIUrl":"https://doi.org/10.7866/HPE-RPE.12.4.1","url":null,"abstract":"the well-known Atkinson and Stiglitz (1976, section 5) theorem on the superiority of nonlinear direct taxation over nonlinear indirect taxation is proved to hold under the second order approach, even on intervals where the monotonicity constraint is binding. this confirms for the nonlinear case previous findings by Kaplow (2006) and Laroque (2005), who considered a joint combination of linear indirect taxes and, possibly suboptimal, nonlinear income taxation. the intuition behind is that, when indirect taxation is not restricted to linearity, its elimination is only justified if the income taxation scheme becomes optimally chosen, as happens in Atkinson and Stiglitz (1976). In addition, our analysis allows for a more general class of sub-utility functions than the one in the Atkinson and Stiglitz theorem, which includes work done or income further to consumption goods and services. Finally, the possibility that optimal llocations fail to be differentiable, or continuous, is also contemplated unlike in the standard literatura.","PeriodicalId":48669,"journal":{"name":"Hacienda Publica Espanola-Review of Public Economics","volume":"203 1","pages":"9-22"},"PeriodicalIF":0.7,"publicationDate":"2012-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"71305740","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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