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21-Apr-2008
Compliance with the structural budget surplus rule, which has been in place since 2001, has allowed the government to maintain a counter cyclical fiscal stance in an environment of rising copper prices, while delivering a gradual reduction in public indebtedness. Monetary policy is conducted within a framework that combines inflation targeting with exchange rate flexibility. This paper relates to the 2007 Economic Survey of Chile (www.oecd.org/eco/surveys/chile).
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16-Apr-2008
This paper develops a differential game of tax avoidance by modelling the interactions between a taxpayer and the tax authority. This framework is particularly useful for explicitly modelling situations of conflict. The solution to the game is a non co operative Nash that depends on the resources that need to be used by the tax authority to enforce legislation and the cost to be borne by the taxpayer in tax compliance, provided that the curvature of the utility functions is bounded.
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19-Feb-2008
In August 2007, the Danish government presented its new medium-term fiscal framework: the 2015 Strategy. It is remarkable for holding up fiscal sustainability as an overarching objective for budgeting and government policies. Nevertheless, clearer mechanisms are needed to prevent spending overruns in regional and local authorities, this report argues.
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06-Nov-2007
This chapter examines the fiscal outlook and explores ways to improve budgeting policy, reduce distortions in the tax system and reduce social spending growth, in order to improve the contribution of government finances to sustained growth.
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09-Oct-2007
This chapter examines areas of government spending, taxation and fiscal federalism where further reforms are desirable to reduce economic distortions and improve the provision of public services.
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