Spend Now, Pay Later? Tax Smoothing and Fiscal Sustainability in South Asia

Spend Now, Pay Later? Tax Smoothing and Fiscal Sustainability in South Asia
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... READ MORE...

Publication date: May 1999
ISBN 9781451848403
$15.00

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