Graduate Thesis Or Dissertation
 

Tax and budget policy in Oregon : a computable general equilibrium perspectives

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https://ir.library.oregonstate.edu/concern/graduate_thesis_or_dissertations/mk61rj96g

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  • In November 1990, Oregon voters approved Ballot Measure 5, placing an ultimate ceiling on local property tax rates of 1.5% of market value (excluding specific levies for capital expenditure). Any resulting shortfalls in local education revenues are to be made up by transfers from state funds, at the expense of other programs. In this study, a state-level computable general equilibrium model (CGE) was used to investigate economic adjustment to Measure S in Oregon. The numerical CGE model was constructed using empirical data for a base year (1990), and coded for solution using PC GAMS. A survey of CGE applications and tax policy literature provided the context for the analysis. Three different scenarios were constructed by changing the hypothesis that revenue shortfalls directly affect education programs, non-education programs, or are replaced by other tax revenues. Results for each scenario were compared under different assumptions regarding the mobility of labor, productive capital and financial capital. Estimates of general equilibrium adjustment in output, exports, imports, household income, government revenues and other variables were calculated. In particular, implications for the distribution of income among low, medium and high income households were examined.
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