The Mortgage Interest Deduction: Causes of Fluctuations in a Procyclical Tax Expenditure

2019 ◽  
Vol 47 (5) ◽  
pp. 807-827
Author(s):  
David Splinter
Keyword(s):  
Business Cycles ◽  
Gross Domestic Product ◽  
Housing Market ◽  
Tax Policy ◽  
Domestic Product ◽  
The Past ◽  
Mortgage Interest ◽  
Tax Expenditure ◽  
Mortgage Interest Deduction

The mortgage interest deduction (MID) is the largest source of US federal homeowner support. I estimate that this tax expenditure fluctuated between 0.2 and 0.9 percent of gross domestic product (GDP) over the past five decades. About half of these fluctuations were caused by changes in tax policy, rather than changes in the housing market. Fluctuations in the MID tax expenditure do not tend to move with homeownership rates; instead, they are procyclical, meaning the MID may exacerbate business cycles.

scholarly journals HUBUNGAN INDEKS HARGA PROPERTI RESIDENSIAL DAN KREDIT PERBANKAN

2019 ◽  
Vol 3 (1) ◽  
pp. 95-111
Author(s):  
Njo Anastasia ◽  
Fabian Hidayat
Keyword(s):  
Gross Domestic Product ◽  
Housing Market ◽  
Housing Prices ◽  
Housing Price ◽  
Domestic Product ◽  
Test Model ◽  
Mortgage Interest ◽  
House Type ◽  
Banking Credit ◽  
The Relationship

Demand and supply in housing market depends on macroeconomic conditions such as Gross Domestic Product, interest rates, and housing prices. Changes to these variables are related to changes in housing market. This study aims to examine the relationship of housing prices, Gross Domestic Product, mortgage interest rate to Banking Credit. Knowing the relationship will be useful in making strategic decisions related to property investment and portfolio management. Housing price using Residential Price Index in primary market will be grouped into three parts based on land area of residential property consist of small house type, medium house type, and big house type. Data processing using Auto Regressive Distribution Lag (ARDL) bound test model to test the relationship between variables. The result of the research shows that there is a significant long run cointegration on the variable of housing price, Gross Domestic Product, and mortgage interest to banking credit. Furthermore, in testing each housing price group, the test results also show the relationship between these variables.

scholarly journals Continuous national gross domestic product (GDP) time series for 195 countries: past observations (1850–2005) harmonized with future projections according to the Shared Socio-economic Pathways (2006–2100)

2018 ◽  
Vol 10 (2) ◽  
pp. 847-856 ◽  
Author(s):  
Tobias Geiger
Keyword(s):  
Time Series ◽  
Economic Development ◽  
Gross Domestic Product ◽  
Climate Impact ◽  
Domestic Product ◽  
Data Set ◽  
The Past ◽  
Online Archive ◽  
Per Capita ◽  
Climate Impact Research

Abstract. Gross domestic product (GDP) represents a widely used metric to compare economic development across time and space. GDP estimates have been routinely assembled only since the beginning of the second half of the 20th century, making comparisons with prior periods cumbersome or even impossible. In recent years various efforts have been put forward to re-estimate national GDP for specific years in the past centuries and even millennia, providing new insights into past economic development on a snapshot basis. In order to make this wealth of data utilizable across research disciplines, we here present a first continuous and consistent data set of GDP time series for 195 countries from 1850 to 2009, based mainly on data from the Maddison Project and other population and GDP sources. The GDP data are consistent with Penn World Tables v8.1 and future GDP projections from the Shared Socio-economic Pathways (SSPs), and are freely available at http://doi.org/10.5880/pik.2018.010 (Geiger and Frieler, 2018). To ease usability, we additionally provide GDP per capita data and further supplementary and data description files in the online archive. We utilize various methods to handle missing data and discuss the advantages and limitations of our methodology. Despite known shortcomings this data set provides valuable input, e.g., for climate impact research, in order to consistently analyze economic impacts from pre-industrial times to the future.

scholarly journals A Performance Analysis of Nigerian Tax Objectives Actualization: Evidence of 2000 – 2012

2015 ◽  
Vol 1 (6) ◽  
pp. 88-100
Author(s):  
Ordu Promise A ◽  
Anele Clement A
Keyword(s):  
Performance Analysis ◽  
Gross Domestic Product ◽  
Final Stage ◽  
Tax Policy ◽  
Tax Incentives ◽  
Domestic Product ◽  
Tax Revenue ◽  
Revenue Generation ◽  
Tax Laws ◽  
Using Data

This paper examines the extent to which objectives set by government (Nigerian) on tax revenue generation are being achieved. In doing this, however, it critically evaluates the comprehensive tax policy – right from reforms to final stage, tax incentives and how they have or have not made the actualization of the policy easier. Furthermore, the paper also evaluates the adequacy of the relevant tax laws as well at its loopholes in the system. In addition, the revenue generated over the years is looked through. Using data of 12 years’ period (2000 -2012), the revenue generated is compared in relation to budget, actual and Gross Domestic Product (GDP) of the country. It concludes with suggestions/strategies of improvements in the system towards increasing tax revenue generated.

Entrenching the Yoshida Defense Doctrine: Three Techniques for Institutionalization

1997 ◽  
Vol 51 (3) ◽  
pp. 389-412 ◽  
Author(s):  
Sun-Ki Chai
Keyword(s):  
United States ◽  
United Kingdom ◽  
South Korea ◽  
Gross Domestic Product ◽  
The United States ◽  
Domestic Product ◽  
Industrialized Countries ◽  
The Past ◽  
Defense Expenditure

Japan's level of defense expenditure relative to the size of its economy has long been uniquely low among the major industrialized countries. As of 1995, Japan's expenditures stood at 0.96 percent of gross domestic product (GDP). Even adding to this the approximately 0.3 percent of GDP devoted to pensions for retired personnel, the level of spending is considerably less than that of major Western states such as the United States, United Kingdom, France, and Germany, as well as industrialized Asian states such as South Korea, Taiwan, Malaysia, and Singapore. Furthermore, these relative magnitudes have remained reasonably stable over the past few decades.

scholarly journals Continuous national Gross Domestic Product (GDP) time series for 195 countries: past observations (1850–2005) harmonized with future projections according to the Shared Socio-economic Pathways (2006–2100)

2017 ◽  
Author(s):  
Tobias Geiger
Keyword(s):  
Time Series ◽  
Economic Development ◽  
Gross Domestic Product ◽  
Climate Impact ◽  
Domestic Product ◽  
Data Set ◽  
The Past ◽  
Online Archive ◽  
Per Capita ◽  
Climate Impact Research

Abstract. Gross Domestic Product (GDP) represents a widely used metric to compare economic development across time and space. GDP estimates have been routinely assembled only since the beginning of the second half of the 20th century, making comparisons with prior periods cumbersome or even impossible. In recent years various efforts have been put forward to re-estimate national GDP for specific years in the past centuries and even millennia, providing new insights of past economic development on a snapshot basis. In order to make this wealth of data utilizable across research disciplines, we here present a first continuous and consistent data set of GDP time series for 195 countries from 1850 to 2009, based mainly on data from the Maddison Project and other population and GDP sources. The GDP data is consistent with Penn World Tables v8.1 and future GDP projections from the Shared Socioeconomic Pathways (SSPs), and freely available at https://doi.org/10.5880/pik.2017.003. To ease usability, we additionally provide GPD per capita data and further supplementary and data description files in the online archive. We utilize various methods to handle missing data and discuss the advantages and limitations of our methodology. Despite known shortcomings this data set provides valuable input e.g. for climate impact research in order to consistently analyze economic impacts from pre-industrial times to the future.

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