English (United Kingdom)

https://curated-unify.zendy.io/wp-json/zendy-region/v1/featured_content/oa?rat=en

https://curated-unify.zendy.io/wp-json/zendy-region/v1/highlighted_journal/

Global: Zendy Plus annual

Presents the access of premium content as premium feature

Premium Content

Presents the keyphrase highlighting as premium feature

Keyphrase Highlighting

Presents the summarisation as premium feature

Summarisation

Insights

Presents the pdf analysis as premium feature

PDF Analysis

Presents the zaia usage as premium feature

ZAIA

Global: Zendy Tools annual

Global: Zendy Free Plan

Global: Zendy Tools monthly

Global: Zendy Plus monthly

How much fiscal space do Latin American countries have to increase their tax burdens in the long term? This paper provides an answer through Laffer curves estimates for taxes on labor, capital, and consumption for the six largest emerging economies of the region: Argentina, Brazil, Chile, Colombia, Mexico, and Peru. Estimates are made using a neoclassical growth model with second-generation human capital and employing data from the national accounts system for the period from 1994 to 2017. Our findings allow us to compare the recent effective tax rates on factor returns against those which would maximize the government's revenues, and therefore to derive the potential tax-related fiscal space. Results suggest that joint fiscal space on labor and capital taxes would reach 6.5% of GDP for the region, on average, and that there are important differences among the countries. **** RESUMEN: Â?CuAinto espacio fiscal tienen los paA­ses de AmA©rica Latina para incrementar su carga tributaria en el largo plazo? Este documento ofrece una respuesta mediante la estimaciA³n de las Curvas de Laffer para los impuestos al trabajo, al capital y al consumo de las economA­as mAis grandes de la regiA³n: Argentina, Brasil, Chile, Colombia, MA©xico y PerAo. Los cAilculos se realizan empleando un modelo de crecimiento con capital humano de 2da generaciA³n, que es calibrado para cada paA­s con informaciA³n de las cuentas nacionales para el perA­odo 1994 a 2017. Los resultados nos permiten comparar las tarifas efectivas recientes con aquellas que maximizarA­an los recaudos del gobierno, para asA­ derivar el espacio fiscal de largo plazo. Nuestros hallazgos sugieren que el espacio fiscal conjunto sobre los impuestos al trabajo y al capital alcanzarA­a el 6.5% del PIB de la regiA³n, en promedio, y que existen diferencias importantes entre los paA­ses.

How do the Tax Burden and the Fiscal Space in Latin America look like? Evidence through Laffer Curves