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Composition of trade flows and the effectiveness of fiscal devaluation


Holzner, Mario; Tkalec, Marina; Vukšić, Goran
Composition of trade flows and the effectiveness of fiscal devaluation // World economy, 42 (2019), 2; 453-477 doi:10.1111/twec.12700 (međunarodna recenzija, članak, znanstveni)


Naslov
Composition of trade flows and the effectiveness of fiscal devaluation

Autori
Holzner, Mario ; Tkalec, Marina ; Vukšić, Goran

Izvornik
World economy (0378-5920) 42 (2019), 2; 453-477

Vrsta, podvrsta i kategorija rada
Radovi u časopisima, članak, znanstveni

Ključne riječi
Fiscal devaluation ; tax structure ; trade balance ; international trade structure ; European Union

Sažetak
We empirically explore whether the magnitude of the effects of fiscal devaluation, which consists of reducing the employers’ social security contribution rate and increasing the value‐added tax rate, depends on the composition of trade flows. Our sample comprises data on bilateral balances of trade between 28 European Union (EU) Member States and their main EU trade partners over the 2000– 14 period. We use robust ordinary least squares regressions, controlling for the country‐pair and time fixed effects, to test whether there are differences in the sizes of relationships between these taxation forms and bilateral trade balances for different types of goods, by distinguishing between: (i) consumer, intermediate and capital goods ; and (ii) labour and capital‐intensive goods. Our results show that the overall effectiveness of fiscal devaluation depends on the composition of trade flows. Value‐added tax is more strongly (positively) associated with (bilateral) balances of trade in consumer goods, compared to balances of trade in capital and intermediate goods. The employers’ contribution rate, in contrast, is more tightly (negatively) related to balances of trade in capital goods. The latter finding also holds true for trade balances of labour‐intensive goods compared to balances of capital‐intensive goods.

Izvorni jezik
Engleski

Znanstvena područja
Ekonomija



POVEZANOST RADA


Projekt / tema
HRZZ-IP-2014-09-7017 - kanali i učinkovitost fiskalnih devalvacija (Goran Vukšić, )

Ustanove
Ekonomski institut, Zagreb,
Institut za javne financije, Zagreb

Časopis indeksira:


  • Current Contents Connect (CCC)
  • Web of Science Core Collection (WoSCC)
    • Social Science Citation Index (SSCI)
    • SCI-EXP, SSCI i/ili A&HCI
  • Scopus
  • EconLit


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