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|z 9781451848403
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|a 1018-5941
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|a International Monetary Fund.
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|a Spend Now, Pay Later? :
|b Tax Smoothing and Fiscal Sustainability in South Asia.
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|a Washington, D.C. :
|b International Monetary Fund,
|c 1999.
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|a 1 online resource (34 pages)
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|a IMF Working Papers
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|a <strong>Off-Campus Access:</strong> No User ID or Password Required
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|a <strong>On-Campus Access:</strong> No User ID or Password Required
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|a Electronic access restricted to authorized BRAC University faculty, staff and students
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|a This paper tests a version of Barro's tax-smoothing model, which assumes intertemporal optimization by a government seeking to minimize the distortionary costs of taxation, using Pakistan and Sri Lankan data for 1956-95 and 1964-97, respectively. The empirical results indicate that Pakistan's fiscal behavior is consistent with tax smoothing, but not Sri Lanka's. Moreover, fiscal behavior in both countries was dominated by a stagnation of revenues, large tax-tilting-induced deficits, and the consequent accumulation of excessive public liabilities. Analysis of the time-series characteristics of tax-tilting behavior indicates that for both countries the stock of public liabilities is unsustainable under unchanged fiscal policies.
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|a Mode of access: Internet
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|a IMF Working Papers; Working Paper ;
|v No. 1999/063
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| 856 |
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|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/001/1999/063/001.1999.issue-063-en.xml
|z IMF e-Library
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