Tax Smoothing and Expenditure Creep

Chris Pinfield
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Chris Pinfield: The Treasury, https://treasury.govt.nz/

No 98/09, Treasury Working Paper Series from New Zealand Treasury

Abstract: Tax smoothing minimises the economic costs of raising taxes to finance a varying profile of expenditure. This standard result assumes that expenditure pressures do not vary with the short term fiscal position. In the presence of expenditure creep, however, tax smoothing is no longer optimal tax policy.

Pages: 6 pages
Date: 1998
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