Long and short-run tax buoyancies in small states
Economics Bulletin, 2020, vol. 40, issue 1, 821-827
This paper uses a recently developed and updated tax revenue dataset to estimate long- and short-run tax buoyancies for a group of 36 small states for the period 1993-2017. The main findings suggest that while buoyancies for aggregate tax revenues are relatively high, the long-run buoyancy for indirect taxesâ€”which accounts for most tax revenuesâ€”is relatively lower than the buoyancy for direct taxes. Also, short-run buoyancies were found to be relatively low for both tax categories. It was found that the magnitude of the long-run buoyancy declined from the pre-crisis period to the post-crisis period, while short-run tax buoyancies have improved.
Keywords: tax buoyancy; panel cointegration; small states; fiscal policy (search for similar items in EconPapers)
JEL-codes: E6 H2 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:ebl:ecbull:eb-19-00906
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