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  • School of Business, Economics and Law / Handelshögskolan
  • Department of Economics / Institutionen för nationalekonomi med statistik
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  • Redigera dokument
  •   Startsida
  • School of Business, Economics and Law / Handelshögskolan
  • Department of Economics / Institutionen för nationalekonomi med statistik
  • Working papers
  • Redigera dokument
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Has Sweden’s government budget policy been too discretionary? Evidence from a generalization of the tax smoothing hypothesis

Sammanfattning
Barro's (1979) tax smoothing hypothesis (TSH) assumes that the government is always subject to an "optimal" degree of discretion in budget policy, i.e., optimal in the sense that the welfare costs from taxation are minimized. This paper proposes a generalization of the TSH that relaxes this crucial assumption. Postwar evidence for Sweden indicates that in contrast to the TSH, the generalized model provides close to a perfect fit: Tax smoothing behavior in combination with more discretion in budget policy relative to what is optimal, can explain all shifts in the central government's budget balance, including the dramatic shifts during the period 1970-96.
Universitet
Göteborg University. School of Business, Economics and Law
URL:
http://hdl.handle.net/2077/2827
Samlingar
  • Working papers
Fil(er)
gunwpe0089.pdf (271.1Kb)
Datum
2003
Författare
Adler, Johan
Nyckelord
Tax smoothing; Discretion; Budget policy; Budget deficits
Publikationstyp
Report
ISSN
1403-2465
Serie/rapportnr.
Working Papers in Economics, nr 89
Språk
en
Metadata
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