02038cas a2200265 a 4500 AALejournalIMF018127 230101c9999 xx r poo 0 0eng d 5.00 USD 9781484332993 1018-5941 BD-DhAAL BD-DhAAL Carton, Benjamin. Identical Twins? : Destination-Based Cash-Flow Taxes Versus Consumption Taxes with Payroll Subsidies / Benjamin Carton, Emilio Fernandez Corugedo, Benjamin Hunt. Washington, D.C. : International Monetary Fund, 2017. 1 online resource (37 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students The Global Integrated Monetary and Fiscal model (GIMF) is a multi-region, forward-looking, DSGE model developed by the Economic Modeling Division of the IMF for policy analysis and international economic research. This paper uses GIMF to illustrate when a destination-based cash-flow tax is equivalent to a combination of a consumption tax and a labor subsidy, as the latter combination have been advocated as proxies for the implementation of destination-based cash-flow taxes. The paper documents the conditions under which both types of taxes are identical and how the equivalence in terms of the real economy and tax revenue responses can be broken, namely after the introduction of finitely lived consumers that value government debt as net wealth (real economy) and the introduction of untaxed government expenditure (tax revenue). Mode of access: Internet Corugedo, Emilio Fernandez. Hunt, Benjamin. IMF Working Papers; Working Paper ; No. 2017/276 Full text available on IMF http://elibrary.imf.org/view/journals/001/2017/276/001.2017.issue-276-en.xml IMF e-Library