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Cover -- Contents -- I. Introduction -- II. The Peer-to-Peer Economy -- A. The Scale of the Peer-to-Peer Economy -- B. Some Theory and Empirics on the Peer-to-Peer Economy -- Shrinking Transaction Costs -- A Short Primer on Two-sided Markets -- Some Empirical Results from the Literature -- III. Key Tax-Relevant Features of the Peer-to-Peer Economy -- A. Growth and Classification of P2P Activities -- B. Low Incomes, Low Rents -- C. Correcting for Externalities -- D. P2P Platforms as Data Recorders -- IV. How Should We Tax the Peer-to-Peer Economy? -- A. A Neutral or Targeted Treatment of P2P Businesses -- B. Tax Thresholds -- C. Cross-Border Taxation of P2P Services -- D. Treatment of Capital and Labor -- E. A Presumptive Tax System for the P2P Economy -- F. Exploiting Technology to Improve Tax Administration -- V. Conclusions -- Box 1. The Peer-to-Peer Economy in Developing Economies -- Box 2. Current Tax Treatment of P2P Businesses.

For Afghanistan, the dual prospect of declining donor support and high ongoing security spending over the medium term keeps its government budget tight. This paper uses a general equilibrium model to capture the security–development trade-off facing the government in its effort to rehabilitate growth and fiscal sustainability. In particular, it considers strategic policy options for counteracting and minimizing the negative macroeconomic impact of possible aid and revenue shortfalls. We find that the mobilization of domestic revenues through changes in tax policy is the preferred policy response for the Afghan central government. Such a response helps to place its finances on a sustainable path in the near term and preserve most of the growth potential. Cutting expenditures balances public finances but causes the economy to permanently shrink. Debt financing helps to preserve much of the economy size but can quickly put the sustainability of public finances at risk.

For Afghanistan, the dual prospect of declining donor support and high ongoing security spending over the medium term keeps its government budget tight. This paper uses a general equilibrium model to capture the security–development trade-off facing the government in its effort to rehabilitate growth and fiscal sustainability. In particular, it considers strategic policy options for counteracting and minimizing the negative macroeconomic impact of possible aid and revenue shortfalls. We find that the mobilization of domestic revenues through changes in tax policy is the preferred policy response for the Afghan central government. Such a response helps to place its finances on a sustainable path in the near term and preserve most of the growth potential. Cutting expenditures balances public finances but causes the economy to permanently shrink. Debt financing helps to preserve much of the economy size but can quickly put the sustainability of public finances at risk.

Cover -- Contents -- I. Introduction -- II. Structure of an Input-Output Table -- A. Calculating Gross Output and Exports -- III. The Matrix Algebra of Input-Output Tables -- A. Basics -- B. Calculating domestic and foreign value added -- C. Detailed Decomposition of Gross Exports -- IV. Measures of Global Value Chain Participation -- V. Eora vs. Other Input-Output Tables -- VI. Conclusion -- References -- Figures -- 1. Example of Basic Input-Output Table -- 2. Example of Eora MRIO Input-Output Table -- 3. Value-Added Content of Trade -- 4. Decomposition of Gross Exports -- 5. World Value-Added Exports by Country and Region -- 6. The Shifting Pattern of GVC Participation and Position -- 7. Comparing FVA from Eora and OECD-WTO Trade in Value-Added, 1995 -- 8. Comparing FVA from Eora and OECD-WTO Trade in Value-Added, 2000 -- 9. Comparing FVA from Eora and OECD-WTO Trade in Value-Added, 2005 -- 10. Comparing FVA from Eora and OECD-WTO Trade in Value-Added, 2008 -- 11. Comparing FVA from Eora and OECD-WTO Trade in Value-Added, 2009 -- 12. Comparing FVA from Eora and OECD-WTO Trade in Value-Added, 2010 -- 13. Comparing FVA from Eora and OECD-WTO Trade in Value-Added, 2011 -- Table -- 1. Eora Sector Classification.

This paper introduces a methodology for assessing external balance in countries with large stocks of non-renewable resources based on oil stock data, and applies it to selected oil producing countries. The methodology uses a stock approach (instead of the more traditional flow approach) to estimate the equilibrium non-oil current account consistent with optimal consumption smoothing. One of the benefits of the stock approach is that geological data for oil reserves can be used to estimate oil wealth; however, the methodology makes the estimated non-oil current account norm very sensitive to oi

For Afghanistan, the dual prospect of declining donor support and high ongoing security spending over the medium term keeps the government budget tight. This paper uses a general equilibrium model to capture the security-development tradeoff facing the government in its effort to rehabilitate macroeconomic stability and welfare. In particular, it considers strategic policy options for counteracting and minimizing the negative macroeconomic impact of possible aid and revenue shortfalls. We find that the mobilization of domestic revenues through changes in tax policy is the preferred policy resp