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Posted on May 20th, 2012
This article reviews and assesses the key elements of the fiscal compact, which – as part of the new Treaty on Stability, Coordination and Governance in the Economic and Monetary Union – was signed by most EU Heads of State or Government on 2 March 2012. The United Kingdom and the Czech Republic [...]
Posted on May 17th, 2012
This paper assesses the impact of fiscal consolidation on income inequality. Using a panel of 18 industrialized countries from 1978 to 2009, the authors find that income inequality significantly rises during periods of fiscal consolidation. In addition, while fiscal policy that is driven by spending cuts seems to be detrimental for income distribution, [...]
Posted on May 15th, 2012
With French and Greek voters rejecting austerity, politicians are once again taking the government spending debate seriously. This column argues that the voters are right – it is a bad idea to tighten fiscal policy when growth is so feeble. But the column adds that, wherever one looks, the road away from austerity [...]
Posted on May 15th, 2012
Contents:
EDITORIAL
ECONOMIC AND MONETARY DEVELOPMENTS
1 The external environment of the euro area
2 Monetary and financial developments
3 Prices and costs
4 Output, demand and the labour market
ARTICLES
A fiscal compact for a stronger Economic and Monetary Union
Comparing the recent financial crisis in the United States and the euro area with the experience of Japan in the 1990s
ANNEXES
Chronology of monetary [...]
Posted on May 15th, 2012
Despite the shift to indirect tax globally a new survey released by KPMG International shows that businesses are simply not keeping pace. In fact, according to KPMG International’s 2012 Benchmarking Survey on VAT/GST, VAT/GST continues to be under-resourced, under-managed and under-measured by the majority of global businesses.
This year’s survey builds on [...]
121 pages
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The impossible hope of an end to austerity
Topics: indebtedness, regional / country study, taxation
With French and Greek voters rejecting austerity, politicians are once again taking the government spending debate seriously. This column argues that the voters are right – it is a bad idea to tighten fiscal policy when growth is so feeble. But the column adds that, wherever one looks, the road away from austerity [...]
ECB Monthly Bulletin, May 2012
Topics: indebtedness, inflation, monetary policy, taxation
Contents:
EDITORIAL
ECONOMIC AND MONETARY DEVELOPMENTS
1 The external environment of the euro area
2 Monetary and financial developments
3 Prices and costs
4 Output, demand and the labour market
ARTICLES
A fiscal compact for a stronger Economic and Monetary Union
Comparing the recent financial crisis in the United States and the euro area with the experience of Japan in the 1990s
ANNEXES
Chronology of monetary [...]
The 2012 Benchmark Survey on VAT/GST
Topics: taxation
Despite the shift to indirect tax globally a new survey released by KPMG International shows that businesses are simply not keeping pace. In fact, according to KPMG International’s 2012 Benchmarking Survey on VAT/GST, VAT/GST continues to be under-resourced, under-managed and under-measured by the majority of global businesses.
This year’s survey builds on [...]