WIFO Working Papers
Diskussionspapiere von Mitarbeiterinnen und Mitarbeitern, Konsulenten und Gästen des WIFO Seit 2006 ausschließlich
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Aktuelle Ausgaben (583 Treffer)
WIFO Working Papers, 2019, (583), 37 Seiten
Online seit: 12.06.2019 0:00
This paper analyses the determinants of aggregate per-capita investments into the telecom sector. We provide results of panel
econometric estimates for EU and OECD countries covering the period from 2005 to 2013. The findings show a positive effect
of infrastructure-based competition between xDSL broadband and cable-TV broadband subscriptions on investments. We use cross-country
variance in open access regulations to examine their effect on investments and find a negative effect for bitstream regulations.
The regression results are used to assess the magnitude of these factors, thereby providing valuable inputs to the policy
debate on broadband promotion.
WIFO Working Papers, 2019, (582), 59 Seiten
Online seit: 29.05.2019 0:00
This study presents in detail the concept of a financial transaction tax (FTT) and the theoretical and empirical evidence
in favour and against introducing it, the potential revenues, different implementation designs and its ability to correct
various market failures. We analyse the benefits and challenges of introducing a tax on financial transactions, putting special
focus on the introduction of such a tax on a world-wide scale. For a number of reasons, international cooperation is deemed
a central prerequisite for an efficient FTT. The purpose of the tax is to raise substantial revenues and help dampen excessive
financial market speculation and market volatility. An FTT would ensure that the financial sector contributes more substantially
to government revenues. In its optimal form, the tax would be broad-based and there will be no financial instrument types
exempted. In a second step, we analyse from a political economy perspective the prospects, the current status, and the lessons
learnt from the European discussion on the implementation of an FTT. Finally, we calculate the revenue potential of a global
FTT and report how much revenues would accrue to specific countries. We estimate that the tax, if imposed globally and taking
into account still evasion, relocation and lock-in effects, can bring significant revenues – between 237.9 and 418.8 billion
$ annually. The baseline case delivers 326.9 billion $ overall for the global economy, which corresponds to 0.43 percent of
global GDP. These are lower bounds for potential revenues due to missing data on a number of financial instrument types. For
specific countries, in the baseline case this would result in 72.57 billion $ annual potential revenues for the USA (0.37
percent of GDP), 119.46 billion $ for the European Union (0.69 percent of GDP), 10.00 billion $ for Germany (0.27 percent
of GDP), 9.99 billion $ for France (0.39 percent of GDP) and 19.99 billion $ for Japan (0.41 percent of GDP).
WIFO Working Papers, 2019, (581), 35 Seiten
Online seit: 27.05.2019 0:00
The existing EU system of own resources financing EU expenditures does not make any positive contribution to the various EU
strategies and policies implemented to cope with the manifold long-term challenges confronting the EU. It is against this
background that the European Commission as well as the High Level Group on Own Resources, but also the European Parliament
have (repeatedly) called for the introduction of tax-based own resources to partially substitute national contributions to
the EU budget. Our specific contribution to this debate consists in the exploration of sustainability-oriented options for
tax-based own resources which are able to support sustainable growth and development in the EU. Based on a concept of sustainability-oriented
taxation in the context of own resources for the EU, we develop sustainability-oriented evaluation criteria to assess the
suitability of specific candidates for tax-based own resources. We then present various options for tax-based own resources
and estimations of their revenue potential. Moreover, a summary evaluation of these options based on our evaluation criteria
is undertaken. Finally, we address implementation aspects. In particular, we briefly present and discuss potential models
to implement tax-based own resources in the EU within the existing legal framework.
WIFO Working Papers, 2019, (580), 20 Seiten
Online seit: 16.04.2019 0:00
Projections show sharp increases in public spending on long-term care services across Europe. However, a purely cost based
focus on long-term care services is economically misleading. Private and public expenditure on long-term care services directly
and indirectly generate income in the form of salaries, taxes and social security contributions. The aim of this paper is
to quantify the economic impact and multipliers of long-term care services for the first time. Based on an econometric regional
input-output model for Austria, we estimate the direct, indirect and induced effects of public and private expenditures on
value added, employment, taxes and social security contributions. According to our results, each Euro spent on long-term care
services is associated with domestic value added of 1.7 € as well as 0.70 € in taxes and social security contributions. The
economic multipliers of the long-term care services are comparatively high due to the high share of wages and salaries in
direct expenditure and the associated high direct value added. Public expenditure on professional care services should therefore
not be regarded merely as a cost factor in the public budget. Rather, this rapidly growing economic sector is also an increasingly
important economic factor in a time of ageing societies.
Benjamin Bittschi, Ines Fortin, Sebastian Koch, Richard Sellner, Simon Loretz
, Gregor Zwirn
WIFO Working Papers, 2019, (579), 97 Seiten
Online seit: 11.04.2019 0:00
The study estimates the tax revenue effects of changes in alcohol excise taxes for Spain, France and Poland. In addition to
excise tax and VAT revenue effects, the price pass-through and the impact on market volumes is estimated. The main parameters
– the tax pass-through rate of excise duties to consumer prices and the price elasticities of demand for alcoholic beverages
– are estimated via state-of-the-art econometric approaches based a combination of household-levels and macro data. In a first
step, the literature survey finds very diverse estimates for price elasticities of alcoholic beverages. We find evidence that
excise taxes are typically fully passed onto consumer prices. Using micro data at the household level, we find price elasticities
of demand for Spain, France and Poland which are higher (in absolute terms) than those typically found in the literature.
This implies that price increases lead to larger drops in sales volume and, thus, tax increases might not result in the expected
additional tax revenues. A macro level estimation of the relation between excise tax rates and revenues confirms a Laffer-curve
type relationship, i.e., tax revenues cease to increase if excise tax rates reach a certain threshold level. The empirical
evidence in this study suggests that the tax rates for beer and wine are well below this revenue maximising saddle point,
but the evidence is inconclusive for spirits in the countries in question. Using the simulation tool developed in this study,
it is found that a 1 percent increase in the excise tax rates of each alcoholic beverage prevailing in 2017 in each of the
countries will have the strongest negative effect on the market volumes of spirits, while for beer and wine these increases
translate to by and large higher collected tax revenues. Noteworthily, in some scenarios excise tax increases result in decreases
in VAT revenues due to a significant reduction in the higher value on-trade sales.
WIFO Working Papers, 2019, (578), 84 Seiten
Online seit: 29.03.2019 0:00
The design of tax systems has a considerable impact on the distribution of income and wealth at the household and the individual
level, and due to gender-differentiated socio-economic conditions also in a gender perspective. One of the most important
areas of taxation is the taxation of personal incomes. Besides the level of income tax rates and the design of the income
tax schedule (progressive versus flat tax schedule), the system of household taxation (joint versus individual taxation),
the determination of taxable income and the design of tax exemptions (tax allowances versus credits), particularly child-related
ones, are crucial determinants of the distributional effects and work incentives of the personal income tax. The study presents
an overview of the microsimulation results for selected provisions of the personal income tax system on income distribution
and work incentives. The microsimulations are based on EUROMOD for six selected EU countries: Germany, Austria, Spain, Czech
Republic, UK, and Sweden, countries of different "families" of welfare and taxation traditions.
WIFO Working Papers, 2019, (577), 11 Seiten
Online seit: 27.03.2019 0:00
We test whether intellectual property rights foster or hinder innovation by estimating IV structural equations for a large
sample of Swiss firms. We find that better appropriability conditions at the industry level raise the number of competitors.
However, conditional on the given industry structure, individual firms face fewer competitors, if they actually use intellectual
property rights. The further impact of fewer competitors is to raise R&D, when initial competition is strong, but to reduce
it, when initial competition is weak ("inverted U").
WIFO Working Papers, 2019, (576), 54 Seiten
Online seit: 24.01.2019 0:00
We introduce a novel measure of uncertainty that is based on a business survey in which firms are asked directly how certain
or uncertain they are. So far the literature has tried to capture economic uncertainty indirectly by means of expectation
errors or the extent of disagreement. Our direct measure of economic uncertainty has a decent contemporaneous correlation
with various indirect measures, its informational content is though different. Across all uncertainty measures, shocks to
uncertainty trigger effects in GDP of opposite sign, however, the indirect measures tend to significantly underestimate the
effects on GDP and other macroeconomic aggregates.
WIFO Working Papers, 2019, (575), 28 Seiten
Online seit: 11.01.2019 0:00
Two major international frameworks provide landmarks for future development paths: the UN Sustainable Development Goals (SDGs)
and the Paris Climate Agreement. Monitoring the progress towards achieving the individual goals has to consider a multitude
of synergies and trade-offs. In this paper we use composite indices to analyse climate and energy policy in Austria and other
selected EU countries. The analysis delivers several results which are also supported by the assessment of climate and energy
policies in the case study countries. In general, the improvements regarding energy efficiency, emissions and deployment of
renewables have been moderate in the period under observation. This hints at the time needed for restructuring to take place.
This underlines the importance of credible political commitment to climate targets, the implementation of ambitious instruments
and the need for stability in the guiding frameworks in order to effectuate substantial changes. In addition, the description
of the circumstances and policy frameworks in the selected countries shows, that each one is characterised by a very specific
energy system (complemented by specific social structures) which determines the challenges that have to be overcome on the
way to decarbonisation.
WIFO Working Papers, 2018, (574), 34 Seiten
Online seit: 20.12.2018 0:00
We show that firms' credit market experience determines their perception of aggregate bank lending policy using panel data
from the Austrian Business Survey between 2011 and 2016. Loan rejections have a strongly negative and persistent effect on
perceptions. Interestingly, firms that receive a loan at worse than anticipated conditions show a similarly negative effect.
Firms that do not need a loan tend to perceive lending policy as neutral and revise their perceptions less often. Our findings
are in line with theories on sticky information, rational inattention and pessimism bias and suggest considering experience
for the aggregation of perceptions.