The Stabilization of Tax Structures

Hiromitsu Ishi

Japanese Economy, 1976, vol. 4, issue 3, 3-27

Abstract: Tax revenue changes in an automatic fashion over the course of the business cycle. In a cyclical downswing it falls percentage-wise more than income falls and thus moderates the drop in disposable income. Conversely, in an inflationary period, tax revenue increases more than income and checks the increase in disposable income. These phenomena take place under a fixed tax system and need no discretionary policy change. This is the well-known built-in stabilization effect of the tax system.

Date: 1976
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DOI: 10.2753/JES1097-203X04033

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