Browsing by Subject "verotus"

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  • Willman, Alpo (1976)
    Suomen Pankki. D 38
    Tämä tutkimus keskittyy kokonaismallin julkisen talouden lohkon esittelyyn sekä erilaisten finanssipoliittisten toimenpiteiden vaikutusten mittaamiseen. Tutkimus on kolmivaiheinen. Ensimmäisessä vaiheessa, joka muodostuu luvuista II - VI, rakennetaan julkisen talouden lohkolIe malli ja esitellään lohkon kytkennät kokonaismallin muihin osiin. Lohko muodostuu välittömien verojen kantoa kuvaavasta systeemistä sekä valtiontalouden, kansaneläkelaitoksen ja kuntien talouden osalohkoista. Sekä julkiset tulot että menot on melko pitkälle disaggregoitu ja niiden kehitystä on pyritty selittämään toisaalta julkisen vallan kontrollissa olevien päätösmuuttujien ja toisaalta kokonaismallin kannalta endogeenisten muuttujien avulla. Koska tulosten luotettavuus riippuu käytettävän menetelmän validisuudesta, tutkitaan toisessa vaiheessa kokonaismallin ennustekykyä. Tarkastelu suoritetaan ns. ex post ennusteiden valossa, jolloin ennalta määrätyistä muuttujista käytetään niiden toteutuneita arvoja. Kokonaismallin ennustekykyä käsitellään tutkimuksen VII luvussa. VIII luvussa, jossa kuvataan tutkimuksen kolmatta vaihetta, esitetään erilaisten finanssipoliittisten toimenpiteiden vaikutusten mittaamista. Niitä mitataan toisaalta keskeisten kokonaistaloudellisten tavoitemuuttujien kannalta ja toisaalta valtion budjetti tasapainon kannalta. Myös valtion tulojen ja menojen erotuksena syntyvän valtion rahoitustarpeen rahoitusmarkkinoiden kautta tapahtuvan vaikutuksen suuruutta tutkitaan.
  • Riipinen, Toni (2003)
    BOFIT Discussion Papers 12/2003
    This work considers effects of energy market liberalisation in the countries of the former Soviet Union (FSU).Our analysis is based on a computable general equilibrium (CGE) model called the Global Trade Analysis Project (GTAP).This specialised model makes it possible to evaluate effects in a general equilibrium set-up. Energy market reforms are widely discussed in the literature, but the use of CGE models has been limited.In the main part of the paper, we perform two experiments.The first is a benchmark liberalisation experiment in which all government taxes and subsidies are removed.The second is an attempt to simulate an increase in the export capacity of energy commodities into the European markets.In general, we find that liberalisation of FSU energy markets would increase welfare in the EU countries, while in the FSU welfare would decrease.This result is mainly due to the terms of trade effect, as export prices of FSU countries decrease. Keywords: energy, computable general equilibrium models, former Soviet Union, welfare analysis
  • Puhakka, Mikko (2004)
    Suomen Pankin keskustelualoitteita 29/2004
    I explore the dynamics in overlapping generations models with pure exchange and lump-sum taxes, when the second period after tax endowment is negative, and contrast the characteristics of equilibria to those of models with positive after tax endowments. In particular, if the intertemporal elasticity of substitution is less than unity, there can be only a two cycle or stable (ie indeterminate) equilibria for certain parameter values.With this value for that elasticity chaos and a cycle of any order can occur in a model with regular endowments.In a sense the lump-sum taxation in this model operates as a stabilizing device.The precise stability condition holds with a small discount factor and in economies with relatively high taxes in the first period.If the intertemporal elasticity of substitution is greater than unity, the steady state equilibria are unstable, and thus determinate, as is the case with the regular model.Key words: overlapping generations economy, saving, cycles, lump-sum taxation JEL classification numbers: E21, E32
  • Hämäläinen, Sirkka (1976)
    Keskustelualoitteita. Discussion Papers 10/1976
    Suomen kansantaloudelle on koko sodan jälkeisen ajan ollut ominaista melkoinen suhdanneherkkyys. Kokonaistuotannon kasvuvauhdin vaihtelut - tosin myös kasvuvauhdin taso sinänsä - ovat olleet selvästi suuremmat kuin keskimäärin läntisissä teollisuusmaissa ja suuremmat kuin yhdessäkään muussa pohjoismaassa (kuvio).Jyrkkiin suhdannevaihteluihin on oleellisesti liittynyt korkeainflaatio, suuret hintojenvaihtelut sekä kärjistyneet ulkoiset tasapainottomuudet.
  • Solanko, Laura (2006)
    Suomen Pankki. E 36
    This study comprises an introductory section and three essays analysing Russia's economic transition from the early 1990s up to the present.The papers present a combination of both theoretical and empirical analysis on some of the key issues Russia has faced during its somewhat troublesome transformation from state-controlled command economy to market-based economy. The first essay analyses fiscal competition for mobile capital between identical regions in a transition country.A standard tax competition framework is extended to account for two features of a transition economy: the presence of two sectors, old and new, which differ in productivity; and a non-benevolent regional decision-maker.It is shown that in very early phase of transition, when the old sector clearly dominates, consumers in a transition economy may be better off in a competitive equilibrium. Decision-makers, on the other hand, will prefer to coordinate their fiscal policies. The second essay uses annual data for 1992- 2003 to examine income dispersion and convergence across 76 Russian regions.Wide disparities in income levels have indeed emerged during the transition period.Dispersion has increased most among the initially better-off regions, whereas for the initially poorer regions no clear trend of divergence or convergence could be established.Further, some albeit not highly robust evidence was found of both unconditional and conditional convergence, especially among the initially richer regions.Finally, it is observed that there is much less evidence of convergence after the economic crisis of 1998. The third essay analyses industrial firms' engagement in provision of infrastructure services, such as heating, electricity and road maintenance.Using a unique dataset of 404 large and medium-sized industrial enterprises in 40 regions of Russia, the essay examines public infrastructure provision by Russian industrial enterprises. It is found that to a large degree engagement in infrastructure provision, as proxied by district heating production, is a Soviet legacy.Secondly, firms providing district heating to users outside their plant area are more likely to have close and multidimensional relations with the local public sector. Key words: Russia, transition, regional issues, tax competition, infrastructure
  • Lehtonen, Martti (1993)
    MARKKA & TALOUS no 4
  • Kilponen, Juha (2009)
    Suomen Pankki. BoF online 3
  • Taipale, Hannu (1994)
    Bank of Finland. Bulletin 68 ; 5 ; May
  • Turtiainen, Kare (1986)
    Bank of Finland. Monthly Bulletin 60 ; 8 ; August
  • Marques II, Israel (2018)
    BOFIT Discussion Papers 7/2018
    When does business support the expansion of social policy in the developing world? Existing work on managers’ preferences has tended to concentrate on the developed world, where governments can credibly commit to policy, tax evasion is constrained, and mechanisms exist to hold the bureaucracy accountable for policy implementation. In this paper, I relax these assumptions, arguing that weak institutions create opportunities for some firms to shift costs onto others: making social policy more attractive. I argue that firms with political connections are uniquely positioned to benefit from subsidies and property rights protection, which decreases the cost of social policy, while firms with low visibility can evade taxes and free-ride off universalistic social policy. Such firms will support social policy even where institutions are poor. I test this argument using a survey of 666 firms in 10 Russian regions.
  • Solanko, Laura (2001)
    BOFIT Discussion Papers 4/2001
    The paper analyses fiscal competition for mobile capital between identical regions in a transition country.A framework similar to Keen-Marchand (1997) is used to analyse welfare effects of regional competition.It is shown that in very early transition when the share of the old sector is overwhelming, consumers in a transition economy may be better off in a competitive equilibrium.The decision-makers, however, would prefer to coordinate their fiscal policies.
  • Sutela, Pekka (1994)
    IDÄNTALOUKSIEN KATSAUKSIA. REVIEW OF ECONOMIES IN TRANSITION 7/1994
  • Lv, Bingyang; Liu, Yongzheng; Li, Yan; Ding, Siying (2018)
    BOFIT Discussion Papers 20/2018
    This paper explores how fiscal incentives offered to local governments in China affect investment rates in their jurisdictions. Theoretically, we build a simple fiscal competition model to establish the linkage between local fiscal incentives and expenditure policy and consequently, capital movement. The key prediction of the model, borne out by data from Chinese provinces spanning 2004–2013, is that an increase in the local corporate income tax-sharing ratio, which proxies fiscal incentives offered to local governments, motivates local governments to compete for capital investment through increased public expenditures. Our results contribute to the fiscal federalism literature by showing that local fiscal incentives significantly shape policy choices and local economic performance. In addition, by exploring fiscal incentives offered to local governments, we offer a novel explanation for the unusually high investment rate in China that has been sustained over a prolonged period of time.
  • Mitra, Kaushik; Evans, George W.; Honkapohja, Seppo (2012)
    Bank of Finland Research Discussion Papers 5/2012
    Published as Fiscal Policy Multipliers in an RBC Model with Learning, Macroeconomic Dynamics, 2019 ; 23 ; 1.
    Using the standard real business cycle model with lump-sum taxes, we analyze the impact of fiscal policy when agents form expectations using adaptive learning rather than rational expectations (RE). The output multipliers for government purchases are significantly higher under learning, and fall within empirical bounds reported in the literature (in sharp contrast to the implausibly low values under RE). Effectiveness of fiscal policy is demonstrated during times of economic stress like the recent Great Recession. Finally it is shown how learning can lead to dynamics empirically documented during episodes of "fiscal consolidations." JEL classification: E62, D84, E21, E43 Key words: Government Purchases, Expectations, Output Multiplier, Fiscal Consolidation, Taxation
  • Lehtonen, Martti (1993)
    Bank of Finland. Bulletin 67 ; 10 ; October
  • Mitra, Kaushik; Evans, George W.; Honkapohja, Seppo (2019)
    Macroeconomic Dynamics 1
    Published in Bank of Finland Research Discussion Papers 5/2012 http://urn.fi/URN:NBN:fi:bof-20140807316
    Using the standard real business cycle model with lump-sum taxes, we analyze the impact of fiscal policy when agents form expectations using adaptive learning rather than rational expectations (RE). The output multipliers for government purchases are significantly higher under learning, and fall within empirical bounds reported in the literature, which is in sharp contrast to the implausibly low values under RE. Positive effects of fiscal policy are demonstrated during times of economic stress like the recent Great Recession. Finally, it is shown how learning can lead to consumption and investment dynamics empirically documented during some episodes of “fiscal consolidations.”
  • Pautola, Niina (1997)
    IDÄNTALOUKSIEN KATSAUKSIA. REVIEW OF ECONOMIES IN TRANSITION 2/1997
    In market economies we can clearly make a distinction between the area of public finance and the area of private finance.In the centrally planned economies the distinction between private and public finance did not actually exist, because all economic activities as well as all finance were public.Given that, one can argue that transition from a centrally-planned to a market economy includes a radical fiscal restructuring. In principle, fiscal policy in transition economies was aimed at promoting economic recovery and creating favourable conditions for economic operators while maintaining reasonable social security. The fiscal stability was seen as an important signal of the government's commitment to economic stabilization.This, in turn, would increase public confidence in government.After the brake-up of the Soviet Union, most of the successor states experienced large fiscal deficits.Compared to other countries of the FSU, the Baltic states were able to maintain rather moderate deficits.One explanation for this can be that the initial fiscal position in all three Baltic states was better than in Russia and the transition economies in central Europe, and partly because of the early budget reforms in 1990-91.The Baltic countries practised tight fiscal policies right from the start of their independence.Another explanation for the Baltics' better success in maintaining fiscal stability can be explained by the fact that during the old Soviet system, the Baltic countries, especially Latvia and Lithuania, contributed large net transfers to the Soviet Union's budget.Once the Soviet Union collapsed, these transfers were abolished and the Baltic countries's financial balances improved significantly.The initial surplus in the fiscal accounts and better revenue performance made it easier to implement strict cash rationing as a means for expenditure control.Tight cas rationing has been an effective way to cut spending.Moreover, an additional factor explaining the success in expenditure policies has been the development of social security benefits.The shares of these transfers have remained fairly stable in all three Baltic states. Finally, it seems that Baltic governments have also been quite successful in reducing subsidies to very low levels.Despite the success, all three Baltic states have had trouble collecting budget revenues.Tax administration as well as control and payment mechanisms are still underdeveloped.In addition, due to a fact that many new private firms were not captured in the tax net, both taxes on wages and salaries, and VAT and other indirect taxes, may not have been fully collected from them.Budget revenues have further been negatively affected due to increase in tax arrears and falling profitability in state enterprises. Although the Baltic the Baltic countries managed to keep their fiscal deficits at quite low levels, deficits still emerged and therefore financing for these deficits had to be found.In respect of domestic financing, the government deficit has been mainly financed in the form of government bonds.The level of foreign financing, however, has been low due to a limited access to foreign capital markets. The future challange for economic policy in the Baltic countries is to ensure the availability of resources necessary to maintain growth, In this respect, fiscal policy should encourage savings, because they form the base for financing the high levels of investment required for sustained economic growth.One of the future challanges in all Baltic countries is the collecting of timely accurate, and accessible fiscal data that are consistent with the international standard of government finance statistics methodology.Also, we cannot ignore that social safety nets are under severe strain as a result of weak financial and administrative capacity.Further efforcts will focus also on tax policy; on improving the effectiveness of taxes by further broad
  • Kajanoja, Lauri (2015)
    Euro & talous. Blogi
    Hallituksen kilpailukykypaketin korvaajaksi on ehdotettu fiskaalista devalvaatiota. Mitä tiedämme näiden vaihtoehtoisten toimenpiteiden vaikutuksista?
  • Suomen Pankki (1945)
    Suomen Pankin taloustieteellisen tutkimuslaitoksen julkaisuja. B 5
    Sisällysluettelo: Johdanto 9 I luku. Julkisten yhdyskuntien kokonaisverolulot ja niiden suhde kansan tuloon vuosina 1938 ja 1944 12 II luku. Fyysillisten henkilöiden välitön verotus vuosina 1938 ja 1945 17 1. Tuloverotus 18 A. Valtiolle maksettavat tuloverot 18 a. Tulo- ja omaisuusverolain mukainen tuloverotus 19 b. Erilaiset lisätuloverot nykyisessä- valtionverotuksessa 23 B. Kunnallis- ja kirkollisverotus 36 C. Kokonaistuloverorasitus 40 2. Omaisuusverotus 44 A. Omaisuusverotus ja vakautetut tulot 45 B. Omaisuusverot suhteessa verotettavaan omaisuuteen 53 3. Inflaatio ja tulo- ja omaisuusverojen progressiivisuus 62 III luku. Välillinen verotus eri tuloluokissa ja perheellisyystyypeissä vuosina 1938 ja 1945 (kirj. G. Modeen) 66 1. Tullit 67 2. Valmisteverot 71 3. Liikevaihtovero 72 4. Loppukatsaus 74 5. Alkoholi- ja mallasjuomaverotus 75 IV luku. Tuloverojen ja välillisten verojen yhteisrasitus 78
  • Kilponen, Juha; Kinnunen, Helvi (2005)
    Bank of Finland. Bulletin 3