Publications

Tax Expenditure and the Treatment of Tax Incentives for Investment

, , , , , and | 12 July 2018
Fiscal, Policy Briefs | Tags: Fossil Fuel Subsidies, Investment, Tax Expenditures
Governments use tax expenditures to boost investment, innovation and employment. However, these schemes are largely opaque, costly and often ineffective in reaching their stated goals. They also frequently trigger unwanted side effects. In order to improve the performance of these tools, we present three concrete ... continue reading

Domestic Revenue Mobilization and Tax Expenditures in Developing Countries

and | 11 July 2018
Fiscal, Blog | Tags: Domestic Revenue Mobilization, Tax Expenditures
Domestic revenue mobilization (DRM) is a fundamental component of any sustainable development strategy. This is particularly salient in developing countries where low DRM levels are often one of the most important impediments to inclusive economic growth. Whereas external financing – including, e.g. official development assistance ... continue reading

Financial Stability and Inequality: A Challenge for Macroprudential Regulation

| 5 June 2018
Monetary, Blog | Tags: Central Banks, Financial Regulation, Financial Stability, Inequality, Macroprudential Policy
The global financial crisis shed new light on the role that central banks play for financial stability. In response to the financial turmoil, central banks took radical action to stabilize the financial system, by providing liquidity to banks and buying up financial assets. Following these ... continue reading

Energy Tax Expenditures in a Globalized Economy

and | 9 May 2018
Fiscal, Trade, Discussion Notes | Tags: Energy, Tax Competition, Tax Expenditures
Countries around the world have introduced energy taxes to expand revenues, reduce energy consumption and curb greenhouse gas emissions. In that context, they have frequently also implemented tax provisions to lower the energy tax bill for certain industries, households and regions. Tax exemptions and deductions ... continue reading

Central Banks and the Transition to a Low-Carbon Economy

| 22 March 2018
Monetary, Discussion Notes | Tags: Central Banks, Environment, Macroprudential Regulation, Quantitative Easing
Climate change is a fundamental challenge for our societies. Containing it will require a profound and radical transformation of our economic system, including a substantial reorientation of investments toward low-carbon technologies. The question to what extent central banks can and should contribute to this effort ... continue reading