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Cyclicality of Revenue and Structural Balances in South Africa

This paper applies a disaggregated method for the calculation of the cyclical component of the budget balance for South Africa with an emphasis on the effect of commodity and asset prices, and credit cycle. Results show that the cyclicality of tax revenue is mostly explained by the variations in tax...

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Bibliographic Details
Main Author: Aydin, Burcu
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 2010
Series:IMF Working Papers
Subjects:
Fiscal Stance
Inflation
Econometric Modeling: General
Revenue Administration
Dynamic Treatment Effect Models
Public Finance & Taxation
Output Gap
Deflation
Fiscal Policy
Production
Diffusion Processes
Time-series Models
Asset Prices
Macroeconomics: Production
Price Level
Cycles
Taxation, Subsidies, And Revenue: General
Prices
Macroeconomics
Commodity Prices
Business Fluctuations
Dynamic Quantile Regressions
Economic Theory
State Space Models
Public Finance
Commodity Markets
Revenue
Production And Operations Management
South Africa
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
Description
Summary:This paper applies a disaggregated method for the calculation of the cyclical component of the budget balance for South Africa with an emphasis on the effect of commodity and asset prices, and credit cycle. Results show that the cyclicality of tax revenue is mostly explained by the variations in tax bases. Change in the credit to private sector also has some affect on the revenue performance; however, asset and commodity prices are not significant in explaining the deviation of revenue from its trend. Nonetheless, quantitative effects of these prices are subject to assumptions used for long-run price levels
Physical Description:24 pages
ISBN:9781455208814

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