No Business Taxation Without Model Representation; Adding Corporate Income and Cash Flow Taxes to GIMF
Emilio Fernández Corugedo and
Benjamin L Hunt
No 17/259, IMF Working Papers from International Monetary Fund
The Global Integrated Monetary and Fiscal model (GIMF) is a multi-region, forward-looking, DSGE model developed at the International Monetary Fund for policy analysis and international economic research. This paper documents the incorporation of corporate income, cash-flow and destination based cash-flow taxes into the model. The analysis presented considers the transmission mechanism of these taxes and details how financial frictions interact with each of the taxes.
Keywords: General equilibrium models; Taxation; Tax policy; Corporate income taxes; Cash-flow taxes; Fiscal policy; Monetary policy; tax policy, business taxation, financial accelerator, corporate leverage, dynamic stochastic general equilibrium models, macroeconomic interdependence, tax policy, business taxation, dynamic stochastic general equilibrium models, macroeconomic interdependence, Forecasting and Simulation, Monetary Policy (Targets, Instruments, and Effects), Open Economy Macroeconomics (search for similar items in EconPapers)
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