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Tax reform and the natural resource industries
Author(s) -
Freebairn John
Publication year - 2000
Publication title -
australian journal of agricultural and resource economics
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.683
H-Index - 49
eISSN - 1467-8489
pISSN - 1364-985X
DOI - 10.1111/1467-8489.00104
Subject(s) - economics , parliament , natural resource , currency , resource (disambiguation) , tax reform , natural resource economics , indirect tax , general equilibrium theory , international economics , public economics , monetary economics , macroeconomics , political science , computer network , politics , computer science , law
Tax reforms passed by Federal Parliament in June 1999 include rationalising indirect taxes, a tax mix change, and a smaller fiscal surplus. The impact or first‐round effects on the natural resource industries indicate large gains. Important second‐round reactions, particularly a real currency appreciation, erode most of, and in some cases more than all of, the first‐round gains. A complete assessment requires the use of general equilibrium models.
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