papers.bib

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@article{rincon2023quien,
  title={Who would bear a reduction of the corporate income tax?},
  author={{Rincon Castro}, Hernan and {Angel Mojica}, Juan Pablo},
  journal={Borradores de Econom{\'\i}a; No. 1260},
  year={2023},
  publisher={Banco de la Rep{\'u}blica de Colombia},
  doi = {10.32468/be.1260},
  abstract = {The objective of the study is to model and determine the tax incidence of a reduction in the corporate income tax in Colombia. To meet this objective, a dynamic and stochastic general equilibrium model DSGE of a closed economy with heterogeneous households and two types of capital is used. These make it possible to easily include the skill-premium and the complementarity of capital with labor skills (capital-skill complementarity), variables that are determinants of changes in the distribution of income and the welfare of the different types of households. The results indicate that a reduction in the corporate income tax increases economic growth but generates unwanted redistributive effects and is not optimal in the Pareto sense, since, depending on the type of fiscal consolidation instrument used, it can enlarge the distribution income gap and negatively affect the welfare of those households with financial constraints and less qualified. To achieve at the same time a lower tax burden on companies and greater economic growth, but with more equity and welfare for all households, alternative instruments are required},
  html= {https://doi.org/10.32468/be.1260},
  bibtex_show={true},
  preview={banrep.png}
}

@article{ADeepDiveintoTaxBuoyancyComparingEstimationTechniquesinaLargeHeterogeneousPanel,
  author = {{Cornevin}, Antoine and {Corrales}, Juan and {Angel Mojica}, Juan Pablo},
  title = {A Deep Dive into Tax Buoyancy: Comparing Estimation Techniques in a Large Heterogeneous Panel},
  journal = {IMF Working Papers},
  year = {2023},
  publisher = {International Monetary Fund},
  doi = {10.5089/9798400238376.001.A001},
  html = {https://www.elibrary.imf.org/view/journals/001/2023/071/article-A001-en.xml},
  abstract = {This paper provides new empirical evidence on tax buoyancy (tax revenues responsiveness to changes in economic activity) over the period 1990-2020 using a large panel of 185 countries. This study compares short-term and long-term buoyancy coefficients for total tax revenues and different individual taxes by reviewing and contrasting a range of estimators. Our results broadly confirm the main body of the literature on long-term buoyancy hovering around one. We find evidence of lower estimates for short-term buoyancy relative to previous literature, suggesting a limited automatic stabilization power of taxes. As a robustness exercise, in addition to changes in tax rates, we introduce novel control variables for tax exemptions and bases to disentangle discretionary from automatic tax revenue changes. The marginal changes in the results when controlling for policy actions suggest that, on average, the economic cycle does not necessarily influence tax reforms.},
  bibtex_show={true},
  preview={tax.png}
}