The Resource The Equity Implications of Fiscal Consolidation, Lukasz Rawdanowicz, Eckhard Wurzel and Ane Kathrine Christensen, (electronic resource)

The Equity Implications of Fiscal Consolidation, Lukasz Rawdanowicz, Eckhard Wurzel and Ane Kathrine Christensen, (electronic resource)

Label
The Equity Implications of Fiscal Consolidation
Title
The Equity Implications of Fiscal Consolidation
Statement of responsibility
Lukasz Rawdanowicz, Eckhard Wurzel and Ane Kathrine Christensen
Creator
Contributor
Subject
Language
eng
Summary
In several OECD countries, ongoing fiscal consolidation might have a negative impact on the static income distribution. However, this conclusion should be treated only as an approximate first step in the analysis. A full assessment of distributional effects of consolidation packages would need to consider dynamic measures, such as life-time income distribution and the equality of opportunity, along with behavioural responses and interactions with other policies. In any case, there is scope to balance current consolidation efforts in favour of more equity with only limited adverse impact on potential growth. In particular, relatively little weight has been given to reducing tax expenditures and raising taxes on immovable property. A number of consolidation instruments are consistent with equity goals while doing little or no harm to potential growth: increases in the effective retirement age, raising efficiency in the education and health care systems, cutting certain tax expenditures, hiking taxes on immovable property and broadly-based consumption taxes. Increases in capital income taxes would also be equitable but need to be well designed to avoid being distortive. Calculations based on simplifying assumptions indicate that increasing household direct taxes would reduce income inequality, while cutting transfers by the same amount would have a larger and opposite effect on inequality. However, raising progressive labour income taxes could have adverse effects on long-run growth. Cuts in government wages and employment can yield fast consolidation gains but need to be accompanied by increases in efficiency of service delivery to avoid that reductions in public services mainly hit the poor. Cuts in unemployment-related and disability benefits will likely hit poorer people in the first place but may have less adverse effects on inequality in the long run once employment increases in response to a better incentive structure
Member of
Cataloging source
FR-PaOEC
http://library.link/vocab/creatorName
Rawdanowicz, Łukasz W
Government publication
international or intergovernmental publication
Index
no index present
Literary form
non fiction
Nature of contents
dictionaries
http://library.link/vocab/relatedWorkOrContributorName
  • Wurzel, Eckhard
  • Christensen, Ane Kathrine
Series statement
OECD Economics Department Working Papers,
Series volume
no.1013
http://library.link/vocab/subjectName
  • Business
  • Economics
  • Commerce
Label
The Equity Implications of Fiscal Consolidation, Lukasz Rawdanowicz, Eckhard Wurzel and Ane Kathrine Christensen, (electronic resource)
Instantiates
Publication
Antecedent source
not applicable
Carrier category
online resource
Carrier category code
  • cr
Carrier MARC source
rdacarrier
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Control code
827783018
Dimensions
21 x 30 cm
Extent
1 online resource 37 pages
File format
one file format
Form of item
online
Media category
computer
Media MARC source
rdamedia
Media type code
  • c
Other control number
10.1787/5k4dlvx2wjq0-en
Specific material designation
remote
System control number
(OCoLC)827783018
Label
The Equity Implications of Fiscal Consolidation, Lukasz Rawdanowicz, Eckhard Wurzel and Ane Kathrine Christensen, (electronic resource)
Publication
Antecedent source
not applicable
Carrier category
online resource
Carrier category code
  • cr
Carrier MARC source
rdacarrier
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Control code
827783018
Dimensions
21 x 30 cm
Extent
1 online resource 37 pages
File format
one file format
Form of item
online
Media category
computer
Media MARC source
rdamedia
Media type code
  • c
Other control number
10.1787/5k4dlvx2wjq0-en
Specific material designation
remote
System control number
(OCoLC)827783018

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