Estimating the small area effects of austerity measures in the UK

Lawson, Tony; Dekkers, Gijs and Leuven, KU and Keegan, Marcia and O’Donoghue, Cathal, eds. (2014) Estimating the small area effects of austerity measures in the UK. In: New Pathways in Microsimulation Modelling. Ashgate, Farnham. ISBN 9781409469315

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Abstract

In response to recent economic and financial difficulties, governments across Europe and beyond have implemented a range of cost-cutting and income-generating programmes in order to re-balance their fiscal budgets following substantial investments in stabilising domestic financial institutions in 2008 and 2009. One approach has been to increase tax rates such as the increase in Value Added Tax (VAT) in the United Kingdom (UK) from 17.5% to 20% from 1 January 2011. This Chapter investigates the economic effect in small areas.