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Author: Mr.David Coady Publisher: International Monetary Fund ISBN: 1484398084 Category : Business & Economics Languages : en Pages : 30
Book Description
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.
Author: Mr.David Coady Publisher: International Monetary Fund ISBN: 1484398084 Category : Business & Economics Languages : en Pages : 30
Book Description
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.
Author: Mr.David Coady Publisher: International Monetary Fund ISBN: 1513547046 Category : Business & Economics Languages : en Pages : 27
Book Description
There is a growing debate on the relative merits of universal and targeted social assistance transfers in achieving income redistribution objectives. While the benefits of targeting are clear, i.e., a larger poverty impact for a given transfer budget or lower fiscal cost for a given poverty impact, in practice targeting also comes with various costs, including incentive, administrative, social and political costs. The appropriate balance between targeted and universal transfers will therefore depend on how countries decide to trade-off these costs and benefits as well as on the potential for redistribution through taxes. This paper discusses the trade-offs that arise in different country contexts and the potential for strengthening fiscal redistribution in advanced and developing countries, including through expanding transfer coverage and progressive tax financing.
Author: Edwin Goni Publisher: World Bank Publications ISBN: Category : Debt Markets Languages : en Pages : 31
Book Description
Abstract: Income inequality in Latin America ranks among the highest in the world. It can be traced back to the unequal distribution of assets (especially land and education) in the region. But the extent to which asset inequality translates into income inequality depends on the redistributive capacity of the state. This paper documents the performance of Latin American fiscal systems from the perspective of income redistribution using newly-available information on the incidence of taxes and transfers across the region. The findings indicate that: (i) the differences in income inequality before taxes and transfers between Latin America and Western Europe are much more modest than those after taxes and transfers; (ii) the key reason is that, in contrast with industrial countries, in most Latin American countries the fiscal system is of little help in reducing income inequality; and (iii) in countries where fiscal redistribution is significant, it is achieved mostly through transfers rather than taxes. These facts stress the need for fiscal reforms across the region to further the goal of social equity. However, different countries need to place different relative emphasis on raising tax collection, restructuring the tax system, and improving the targeting of expenditures.
Author: Edgar K. Browning Publisher: American Enterprise Institute Press ISBN: Category : Business & Economics Languages : en Pages : 158
Book Description
Monograph on income redistribution and the welfare system in the USA - analyses the impact of the social assistance scheme on wage rate, income distribution, standard of living and poverty. References and statistical tables.
Author: Scott L Greer Publisher: University of Michigan Press ISBN: 0472131176 Category : Political Science Languages : en Pages : 339
Book Description
Federalism and Social Policy focuses on the crucial question: Is a strong and egalitarian welfare state compatible with federalism? In this carefully curated collection, Scott L. Greer, Heather Elliott, and the contributors explore the relationship between decentralization and the welfare state to determine whether or not decentralization has negative consequences for welfare. The contributors examine a variety of federal countries, including Spain, Canada, and the United Kingdom, asking four key questions related to decentralization: (1) Are there regional welfare states (such as Scotland, Minnesota, etc.)? (2) How much variation is there in the structures of federal welfare states? (3) Is federalism bad for welfare? (4) Does austerity recentralize or decentralize welfare states? By focusing on money and policy instead of law and constitutional politics, the volume shows that federalism shapes regional governments and policies even when decentralization exists.
Author: Mr.Jonathan David Ostry Publisher: International Monetary Fund ISBN: 1484397657 Category : Business & Economics Languages : en Pages : 30
Book Description
The Fund has recognized in recent years that one cannot separate issues of economic growth and stability on one hand and equality on the other. Indeed, there is a strong case for considering inequality and an inability to sustain economic growth as two sides of the same coin. Central to the Fund’s mandate is providing advice that will enable members’ economies to grow on a sustained basis. But the Fund has rightly been cautious about recommending the use of redistributive policies given that such policies may themselves undercut economic efficiency and the prospects for sustained growth (the so-called “leaky bucket” hypothesis written about by the famous Yale economist Arthur Okun in the 1970s). This SDN follows up the previous SDN on inequality and growth by focusing on the role of redistribution. It finds that, from the perspective of the best available macroeconomic data, there is not a lot of evidence that redistribution has in fact undercut economic growth (except in extreme cases). One should be careful not to assume therefore—as Okun and others have—that there is a big tradeoff between redistribution and growth. The best available macroeconomic data do not support such a conclusion.
Author: John Creedy Publisher: ISBN: Category : Business & Economics Languages : en Pages : 278
Book Description
A systematic treatment of tax and transfer systems models and their redistributive effects, illustrating fixed pre-tax income distributions, fixed wage rate distributions, and the general equilibrium framework. Creedy (economics, U. of Melbourne) reviews various inequality and tax progressivity schemes, as well as social welfare functions and pension measures, demonstrating a continuum that moves from a framework with fixed labor supplies to one in which labor supplies respond to the changes in the tax system. Includes extensive numerical examples and diagrams. Annotation copyright by Book News, Inc., Portland, OR
Author: Malte Luebker Publisher: ISBN: Category : Languages : en Pages :
Book Description
Lupu and Pontusson (2011) argue that the structure of income inequality, rather than its level, can explain differences in fiscal redistribution across modern welfare states. Contrary to the assertion that there is robust evidence in support of this proposition, the present paper challenges the argument that the distribu-tional allegiances between social groups are a function of relative income differentials. It makes three central claims: (a) skew in the earnings distribution, the key explanatory variable in the empirical tests of the original paper, is a result of labor market institutions and hence endogenous to the welfare state; (b) relative earnings differentials are not a valid proxy measure for the structure of income inequality, the concept of theoretical interest; and (c) there is no indication that skew in the distribution of incomes (rather than earnings) is positively associated with fiscal redistribution. In sum, revisiting an influential contribution to the literature offers no support for the proposition that the structure of inequality has consequences for fiscal redistribution.
Author: Mr.David Coady
Author: Mr.David Coady
Author: Mr.David Coady
Author: Edwin Goni
Author: Edgar K. Browning
Author: Scott L Greer
Author: International Monetary Fund
Author: Mr.Jonathan David Ostry
Author: Peter J. Lambert
Author: John Creedy
Author: Malte Luebker