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The Costs of Federalism (Appendix 2)
... for out of GST and/or payroll tax receipts (ie, from efficient rather than inefficient taxes) ...
... for out of GST and/or payroll tax receipts (ie, from efficient rather than inefficient taxes) ...
Why is fiscal policy often procyclical?"
... where it is understood that he can get rents only while in o¢ ce (if the incumbent is not reappointed, then future political rents will be enjoyed by another politician in o¢ ce). The utility function v( ) is smooth, increasing and strictly concave. The political environment is adapted from Barro (1 ...
... where it is understood that he can get rents only while in o¢ ce (if the incumbent is not reappointed, then future political rents will be enjoyed by another politician in o¢ ce). The utility function v( ) is smooth, increasing and strictly concave. The political environment is adapted from Barro (1 ...
Yojana March 2013 PDF
... excitement. This year too it was no different. Analysts and watchers of the Indian economy wondered how the Union Budget would tackle the complex challenges facing the Indian economy. How would the Finance Minister address the issue of spurring growth while keeping the inflation under control? What ...
... excitement. This year too it was no different. Analysts and watchers of the Indian economy wondered how the Union Budget would tackle the complex challenges facing the Indian economy. How would the Finance Minister address the issue of spurring growth while keeping the inflation under control? What ...
A World with Higher Interest Rates
... This study attempts to take a more cautious and global approach in examining one possible future path of interest rates and their impact on selected sectors. Based on an analysis of global savings supply and investment demand, we suggest that a return to higher real rates could happen through the sa ...
... This study attempts to take a more cautious and global approach in examining one possible future path of interest rates and their impact on selected sectors. Based on an analysis of global savings supply and investment demand, we suggest that a return to higher real rates could happen through the sa ...
The Budget and Economic Outlook: 2014 to 2024
... Real GDP is projected to grow by 3.1 percent this year, by 3.4 percent in 2015 and 2016, and by 2.7 percent in 2017 (see Summary Table 2 on page 6).1 CBO expects that those increases in output will spur businesses to hire more workers, pushing down the unemployment rate and tending to raise the rate ...
... Real GDP is projected to grow by 3.1 percent this year, by 3.4 percent in 2015 and 2016, and by 2.7 percent in 2017 (see Summary Table 2 on page 6).1 CBO expects that those increases in output will spur businesses to hire more workers, pushing down the unemployment rate and tending to raise the rate ...
Sovereign GDP-Linked Bonds: Design, Investor Response and
... indicator of a country's economic performance and different countries would want to index to different commodities, factors which might hold back a global market from developing. At the margin, indexing to a single commodity's price might give the issuing country less incentive to diversify producti ...
... indicator of a country's economic performance and different countries would want to index to different commodities, factors which might hold back a global market from developing. At the margin, indexing to a single commodity's price might give the issuing country less incentive to diversify producti ...
Does austerity pay off
... “Debt is a slow-moving variable that cannot—and in general should not— be brought down too quickly. But interest rates can change much more quickly than fiscal policy and debt.” (C. Reinhart and K. Rogoff 2013) “[F]inancial investors are schizophrenic about fiscal consolidation and growth. They rea ...
... “Debt is a slow-moving variable that cannot—and in general should not— be brought down too quickly. But interest rates can change much more quickly than fiscal policy and debt.” (C. Reinhart and K. Rogoff 2013) “[F]inancial investors are schizophrenic about fiscal consolidation and growth. They rea ...
West Bank and Gaza
... Context: Since the breakdown of peace talks in April 2014, Israeli-Palestinian relations have been deteriorating. After the war in Gaza, Israel continued settlement expansion, and the Palestinian Authority (PA) took steps towards international recognition, including membership in the International C ...
... Context: Since the breakdown of peace talks in April 2014, Israeli-Palestinian relations have been deteriorating. After the war in Gaza, Israel continued settlement expansion, and the Palestinian Authority (PA) took steps towards international recognition, including membership in the International C ...
Past and Present High-Risk Investments by States and Localities
... instead of appreciating and revenues from canal and banking investments failed to materialize, the state defaulted on its obligations. In the aftermath of the wave of state defaults, nineteen states adopted balanced-budget restrictions.3 Over the years, adoption of restrictions spread, and today eve ...
... instead of appreciating and revenues from canal and banking investments failed to materialize, the state defaulted on its obligations. In the aftermath of the wave of state defaults, nineteen states adopted balanced-budget restrictions.3 Over the years, adoption of restrictions spread, and today eve ...
East Carolina University Basic Spending Guidelines by
... reviewed monthly and any errors found are corrected on a timely basis. While processing of transactional documents and forms may be delegated within the unit that does not relieve the PI of fiscal responsibility and accountability for his/her sponsored project funds. ...
... reviewed monthly and any errors found are corrected on a timely basis. While processing of transactional documents and forms may be delegated within the unit that does not relieve the PI of fiscal responsibility and accountability for his/her sponsored project funds. ...
GDP
... …the market value of all final goods & services produced within a country in a given period of time. Final goods: intended for the end user Intermediate goods: used as components or ingredients in the production of other goods GDP only includes final goods—they already embody the value of the interm ...
... …the market value of all final goods & services produced within a country in a given period of time. Final goods: intended for the end user Intermediate goods: used as components or ingredients in the production of other goods GDP only includes final goods—they already embody the value of the interm ...
Measuring a Nation`s Income
... © 2015 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. ...
... © 2015 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. ...
IS JAPAN ‘BACK’? 2013 th
... A rise in investment is actually a ‘good thing’ when your starting point is capital consumption (let’s glide over the data quality complications…) Raising dividends would also be a ‘good thing’ for profits because it would increase the income of capitalists Implication is that ‘Abe-nomics’ will real ...
... A rise in investment is actually a ‘good thing’ when your starting point is capital consumption (let’s glide over the data quality complications…) Raising dividends would also be a ‘good thing’ for profits because it would increase the income of capitalists Implication is that ‘Abe-nomics’ will real ...
The Autonomous Regions` funding model: Between the State
... very favourable terms, which resulted in an increase in the average life of their portfolios and a reduction in average costs. For 2017, the State is expected to continue to cover the bulk of its financing needs through the issuance of long-term debt. However, at the regional level, the majority of ...
... very favourable terms, which resulted in an increase in the average life of their portfolios and a reduction in average costs. For 2017, the State is expected to continue to cover the bulk of its financing needs through the issuance of long-term debt. However, at the regional level, the majority of ...
budget
... 7. How much selling and administrative expense will we incur and how much cash will be pay related to those expenses? 8. How much money will we borrow from or repay to lenders – including interest? 9. How much operating income will we earn? 10. What will our balance sheet look like at the end of the ...
... 7. How much selling and administrative expense will we incur and how much cash will be pay related to those expenses? 8. How much money will we borrow from or repay to lenders – including interest? 9. How much operating income will we earn? 10. What will our balance sheet look like at the end of the ...
ECONOMIC GROWTH - The Bleyzer Foundation
... rate adjustments taken relatively often, with the aim of narrowing the gap between the interest rate and the inflation rate. However, bankers do not consider this move to have a significant impact on their lending and savings operations, given the competitive environment in the sector in which banks ...
... rate adjustments taken relatively often, with the aim of narrowing the gap between the interest rate and the inflation rate. However, bankers do not consider this move to have a significant impact on their lending and savings operations, given the competitive environment in the sector in which banks ...
Federal Financial Support for Electricity Generation Technologies
... Table 2: Total Cost of Tax Expenditures by Type and Year ($ million, nominal) ...................... 16 Table 3: Energy Spending by Type & Fuel (2010, 2013, 2016, 2019, $ million, nominal) ....... 19 Table 4: Share of Fossil Fuels used in Electric Power Generation (%) .............................. ...
... Table 2: Total Cost of Tax Expenditures by Type and Year ($ million, nominal) ...................... 16 Table 3: Energy Spending by Type & Fuel (2010, 2013, 2016, 2019, $ million, nominal) ....... 19 Table 4: Share of Fossil Fuels used in Electric Power Generation (%) .............................. ...
Master Budgeting
... For purposes of our illustration assume that Royal has a “no layoff” policy, workers are pay at the rate of $10 per hour regardless of the hours worked. ...
... For purposes of our illustration assume that Royal has a “no layoff” policy, workers are pay at the rate of $10 per hour regardless of the hours worked. ...
Revision of Financial Forecast for the Six
... As for revenue, although there was a cost increase of some unprofitable system development projects and there was a revenue decrease caused by a net sales decrease, due to effects of cost reduction efforts and enhanced business performance of our consolidated subsidiaries, operating income is likely ...
... As for revenue, although there was a cost increase of some unprofitable system development projects and there was a revenue decrease caused by a net sales decrease, due to effects of cost reduction efforts and enhanced business performance of our consolidated subsidiaries, operating income is likely ...
Download
... strategic aims of the EERP have been: “to help Europe to prepare to take advantage when growth returns; speed up the shift towards a low carbon economy; lessen the human cost of the economic downturn and its impact on the most vulnerable” (European Commission 2009, 16). To reach these aims, the EERP ...
... strategic aims of the EERP have been: “to help Europe to prepare to take advantage when growth returns; speed up the shift towards a low carbon economy; lessen the human cost of the economic downturn and its impact on the most vulnerable” (European Commission 2009, 16). To reach these aims, the EERP ...
white paper on the us security guard industry
... using contract guard companies. Typically, in-house security employees will have a higher pay scale due to long term tenure with the company and expensive retirement benefits. By contracting out the security function, companies are getting better trained security personnel in many cases, for less to ...
... using contract guard companies. Typically, in-house security employees will have a higher pay scale due to long term tenure with the company and expensive retirement benefits. By contracting out the security function, companies are getting better trained security personnel in many cases, for less to ...
Budget Control app for Advertising and promotion
... under which various cost will occur. Before each campaign, a budget will be decided by marketing department. Campaign cannot be saved if the overall budget of the department exceeds the yearly plan. Only if you have enough available budgets, campaign can be saved and subject for approval based on si ...
... under which various cost will occur. Before each campaign, a budget will be decided by marketing department. Campaign cannot be saved if the overall budget of the department exceeds the yearly plan. Only if you have enough available budgets, campaign can be saved and subject for approval based on si ...
Regulatory Notice 14-23
... and Compliance Engine (TRACE). However, firms may request the set-up of a new hybrid security for trade reporting purposes in accordance with this interpretation prior to that date. A list of covered hybrid securities that will be moved from the OTC Reporting Facility (ORF) to TRACE on June 16, 2014 ...
... and Compliance Engine (TRACE). However, firms may request the set-up of a new hybrid security for trade reporting purposes in accordance with this interpretation prior to that date. A list of covered hybrid securities that will be moved from the OTC Reporting Facility (ORF) to TRACE on June 16, 2014 ...
Longevity Insurance Benefits for Social Security
... reventing people from falling into poverty as they age is a key goal of Social Security. Longevity insurance is one way to address the income needs of those who have lived longer than they expected and have used up their retirement savings, with only their Social Security benefit remaining. While al ...
... reventing people from falling into poverty as they age is a key goal of Social Security. Longevity insurance is one way to address the income needs of those who have lived longer than they expected and have used up their retirement savings, with only their Social Security benefit remaining. While al ...
NBER WORKING PAPER SERIES UNCERTAIN LIFETIMES, PENSIONS, MJD INDIVIDUAL SAVING R. Glenn Hubbard
... Assistant Professor of Economics and Urban Affairs, Northwestern University; Faculty Research Fellow, National Bureau of Economic Research; and Faculty Research Fellow John F. Kennedy School of Government, Harvard University. This paper as presented at the NBER Pensions Conference in San Diego, Apri ...
... Assistant Professor of Economics and Urban Affairs, Northwestern University; Faculty Research Fellow, National Bureau of Economic Research; and Faculty Research Fellow John F. Kennedy School of Government, Harvard University. This paper as presented at the NBER Pensions Conference in San Diego, Apri ...
Expenditures in the United States federal budget
![](https://en.wikipedia.org/wiki/Special:FilePath/U.S._Federal_Spending_-_FY_2011.png?width=300)
The United States federal budget contains a number of expenditures, which include mandatory programs such as the Medicare and Social Security programs, military spending, and discretionary funding for Cabinet Departments (e.g., United States Department of Justice) and agencies (e.g., Securities & Exchange Commission).During FY2014, the federal government spent $3.504 trillion on a budget or cash basis, up $50 billion or 1% vs. FY2013 spending of $3.455 trillion. Major categories of FY 2014 spending included: Social Security ($845B or 24% of spending), Healthcare such as Medicare and Medicaid ($831B or 24%), Defense Department ($596B or 17%), non-defense discretionary spending used to run federal Departments and Agencies ($583B or 17%), other mandatory programs such as food stamps and unemployment compensation ($420B or 12%) and interest ($229B or 6.5%).Expenditures are classified as mandatory, with payments required by specific laws, or discretionary, with payment amounts renewed annually as part of the budget process. Expenditures averaged 20.4% GDP over the past 40 years, generally ranging +/-2% GDP from that level. The 2014 spend was 20.3% GDP, versus 2013 spend of 20.8% GDP and a recent 2009 peak of 24.4% GDP.CBO projects that spending for Social Security, Healthcare programs and interest costs will rise relative to GDP over the 2015-2025 period, while defense and other discretionary spending will decline relative to GDP.Over the past 40 years, mandatory spending for programs such as Medicare and Social Security has grown as a share of the budget and relative to GDP, while other discretionary categories have declined. Medicare, Medicaid and Social Security grew from 4.3% of GDP in 1971 to 10.1% of GDP in 2012.In the long-run, expenditures related to Social Security, Medicare and Medicaid are growing considerably faster than the economy overall as the population matures. The Congressional Budget Office estimates that Social Security spending will rise from 4.8% of GDP in 2009 to 6.2% of GDP by 2035, where it will stabilize. However, CBO expects Medicare and Medicaid to continue growing, rising from 5.3% GDP in 2009 to 10.0% in 2035 and 19.0% by 2082. CBO has indicated healthcare spending per beneficiary is the primary long-term fiscal challenge. Further, multiple government and private sources have indicated the overall expenditure path is unsustainable.