What Is the Effect of an Increase in the Consumption Tax When It Is Used to Reduce Public Debt?
DOI:
https://doi.org/10.29201/peipn.v9i17.294Keywords:
Effective demand, cycles, unemployment, fiscal policy, tax, debtAbstract
In this paper I analyze the effects reduce public debt through an increase in the consumption tax. It shows that, in the first time, the higher tax causes the output and employment are reduced. In periods subsequent to tax increase, if the savings decreased more (less) that the government debt, then the economy will be in a path of decline (growth). If the reduction in savings is proportional to decrease in debt, then the economy will be at a new steady state, it is characterized by lower levels of employment and output.
Downloads
References
Arestis, P. (2009), "New Consensus Macroeconomics: A Critical appraisal". The Levy Economics Institute of Bard College. Working Paper, No. 564, pp. 1-26.
Arestis, P., y M. Sawyer (2003), "Reinstating Fiscal Policy", Journal of Post Keynesian Economics, 26:1, pp. 3-25.
Argandoña, Gámez y Mochón (1996), Macroeconomía Avanzada, Vol. I y II, España, McGraw-Hill.
Barro, R. (1989), "The Ricardian Approach to Budget Deficits", Journal of Economics Perspectives, Vol. 3, No. 2, spring, pp. 37-54.
Baxter, M., y R. King (1993), "Fiscal Policy in General Equilibrium", American Economic Review, Vol. 83, pp. 315-334.
Blanchard, Dell'Ariccia y Mauro (2010), "Rethinking Macroeconomic Policy", IMF Starr Position Note, February No. 12, pp 1-19.
Charpe, M., y S. Bridji (2012), "Labour Market and Fiscal Policy" Graduate Institute of International and Development Studies, Working Paper, No. 3, pp. 1-38.
Clower, R. W. (1965), "The Keynesian counter-revolution: A theoretical appraisal" en Hahn y Brechling (eds) The theory of interest rate, Londres, MacMillan.
Corsetti, Meier, and Müller (2009), "Fiscal Stimulus with Spending Reversals", IMF Working paper.
Debreu, Gerard (1973), Teoría del Valor, España, Antoni Bosch.
Eggertsson, Gauti B. (2009), "What Fiscal Policy Is Effective at Zero Interest Rates?" Federal Reserve Bank of New York Staff Report 402.
Fondo Monetario Internacional (2011), Boletín Digital del FMI, 20 de septiembre.
Hahn. F., y R. Solow (1995), A Critical Essay on Modern Macroeconomic Theory. USA. MIT Press.
Kalecki, Michal (1956), Teoría de la Dinámica Económica. México, DF, Fondo de Cultura Económica.
Keynes, J. (1936), Teoría General de la Ocupación el Interés y el Dinero. México DF, Fondo de Cultura Económica.
Klimovsky, A. (2000), "Modelos básicos de las teorías de los precios", Cuadernos de Economía, V. XIX, No. 32, pp. 77-103.
Krugman, P. (2012), Acabad ya con esta crisis, Critica, España.
Lasa, José (1997), Deuda, Inflación y Déficit: Una perspectiva Macroeconómica de la Política Fiscal, UAM, México, DF.
Linnemann, L., y A. Schabert (2003), "Fiscal Policy in the New Neoclassical Synthe sis", Journal of Money, Credit and Banking, Vol. 35, No. 6, pp. 911-929.
Monacelli, T., R. Perotti, y A. Trigari (2010), "Unemployment fiscal multiplier", in Journal of Monetary Economics, Vol. 14584, pp. 1-56.
Neffa, J.; M. Féliz, P. Pérez y D. Panigo (2006), Teorías Económicas sobre el Mercado de Trabajo. Vol.1 Marxistas y Keynesianos, Fondo de Cultura Económica, Argentina.
Noriega, F. (1994), Teoría del Desempleo, la Distribución y la Pobreza. México, DF. Ariel.
____(2001), Macroeconomía para el Desarrollo: Teoría de In Inexistencia del Mercado de Trabajo. México, DF, McGraw-Hill.
____(2006), "Free Trade and Poverty", en Volbert A., and K. Hans-Helmut (eds.), Global Divergence in Trade, Moncy and Policy. Germany. Edward Elgar Publishing.
Perotti, Roberto (2006), "Public Investment and the Golden Rule: Another (Different) Look," IGIER Working Paper No. 277.
Rodríguez-Nava, Abigail (2005). Desempleo Involuntario en Equilibrio General Competitivo, Tesis doctoral, Universidad Autónoma Metropolitana.
Velázquez Orihuela. D. (2009), Teoría de la Dinámica de las Economías de Mercado: Un Modelo de Generaciones Traslapadas en el Marco Analítico de la Teoría de la Inexistencia del Mercado de Trabajo, tesis doctoral, Universidad Autónoma Metropolitana.
Woodford, M. (2009), "Convergence in Macroeconomics: Elements of the New Synthesis", American Economic Journal: Macroeconomics, 1:1, pp. 267-279.
Woodford (2011), "Simple Analytics of the Government Expenditure Multiplier", American Economic Journal: Macroeconomics, No. 3, January, pp. 1-35.
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2025 Panorama Económico
This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.
