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Efficient Frontiers and Fiscal Stability: An Ex-ante and Ex-post Application to the Irish Public Finances
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Revenue from taxation has become more volatile after the global financial crisis. In this paper we provide a mean-variance analysis for key taxation components in the Irish fiscal accounts. This approach is a useful complement to the more standard measures of fiscal developments, which typically focus on aggregate public finance indicators. In an Irish context, the analysis reveals that for a given taxation return, sourcing an increased amount of revenue from direct as opposed to indirect sources of taxation post 2008 would have provided a more stable fiscal environment.
ESRI Series Number: 538 Research Area:Macroeconomics Date of Publication: August 29, 2016 Publisher: ESRI Place of Publication: Dublin
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