Is There a Role for Discretionary Fiscal Policy?
... revenue side, as outlay responses are relatively similar (and not statistically different) during the two halves of the sample period. The responsiveness of revenues to the budget surplus since 1993 is quite consistent with the pattern of major tax legislation, with the tax increase of 1993 occurrin ...
... revenue side, as outlay responses are relatively similar (and not statistically different) during the two halves of the sample period. The responsiveness of revenues to the budget surplus since 1993 is quite consistent with the pattern of major tax legislation, with the tax increase of 1993 occurrin ...
NBER WORKING PAPER SERIES FISCAL POLICY IN THE AFTERMATH OF 9/11
... had the government pursued alternative tax policies? We cannot use our statistical model to address the impact of systematic changes in policy. A structural model is required. The particular model that we use is the one developed in Burnside, Eichenbaum and Fisher (2004). We use this model because i ...
... had the government pursued alternative tax policies? We cannot use our statistical model to address the impact of systematic changes in policy. A structural model is required. The particular model that we use is the one developed in Burnside, Eichenbaum and Fisher (2004). We use this model because i ...
Managing Fiscal Risks
... through any discretionary fiscal stimulus The recent decline in commodity prices will affect adversely countries dependent on natural resource revenues, but reduce the fiscal burden of price subsidies Both advanced and emerging market countries have already announced a panoply of measures to sup ...
... through any discretionary fiscal stimulus The recent decline in commodity prices will affect adversely countries dependent on natural resource revenues, but reduce the fiscal burden of price subsidies Both advanced and emerging market countries have already announced a panoply of measures to sup ...
When Are Autocracies Economically Efficient?
... works against them, creating a perpetual drain on society’s resources. In addition, politicians must often trade economic rents for political support in order to maintain power. Lobbying models such as those of Bhagwati ...
... works against them, creating a perpetual drain on society’s resources. In addition, politicians must often trade economic rents for political support in order to maintain power. Lobbying models such as those of Bhagwati ...
Fiscal Policy
... With changed nature of business cycle in India, the current situation has provided a glimpse of what can be a regular feature in coming decades. To tackle the problem it will have to efficiently use fiscal policy as a stabilization tool especially when monetary policy is ineffective. But for the eme ...
... With changed nature of business cycle in India, the current situation has provided a glimpse of what can be a regular feature in coming decades. To tackle the problem it will have to efficiently use fiscal policy as a stabilization tool especially when monetary policy is ineffective. But for the eme ...
economic crisis and taxation in europe
... kinds of tax revenue, as a result of both the automatic stabilizers and the discretional measures which were adopted by several countries to sustain aggregate demand and employment 1 . We are going to show that while the former have had a relatively substantial impact, the latter have been of neglig ...
... kinds of tax revenue, as a result of both the automatic stabilizers and the discretional measures which were adopted by several countries to sustain aggregate demand and employment 1 . We are going to show that while the former have had a relatively substantial impact, the latter have been of neglig ...
Fiscal Federalism in the Russian Federation: Problems and
... rates for sharing revenues with local budgets. These rates are also exceedingly unstable and continually adjusted for the purpose of equalisation, a process that supports weak incentives for responsible budgetary management at the local level (Zhuravskaia (1998), Alexeev and Kurliandskaia (1998), an ...
... rates for sharing revenues with local budgets. These rates are also exceedingly unstable and continually adjusted for the purpose of equalisation, a process that supports weak incentives for responsible budgetary management at the local level (Zhuravskaia (1998), Alexeev and Kurliandskaia (1998), an ...
Journal Article - Economics E
... Several Latin American economies faced the international crisis on relatively solid domestic macroeconomic grounds, both monetary and fiscal. On the fiscal front, most countries in the region displayed higher budget surpluses and lower debt-to-GDP levels, giving them apparently unprecedented fiscal ...
... Several Latin American economies faced the international crisis on relatively solid domestic macroeconomic grounds, both monetary and fiscal. On the fiscal front, most countries in the region displayed higher budget surpluses and lower debt-to-GDP levels, giving them apparently unprecedented fiscal ...
No 15
... detailed projects. Economic and development projects represented more than 51% of BSIE in the early 1980s. We should add that BSIE programmes and projects are designed and implemented within a scheme of proposal assessment and development which might facilitate an accurate check of their achievement ...
... detailed projects. Economic and development projects represented more than 51% of BSIE in the early 1980s. We should add that BSIE programmes and projects are designed and implemented within a scheme of proposal assessment and development which might facilitate an accurate check of their achievement ...
esp05 agell 412302 en
... rate increases with pre-tax labor income. Under democracy, equation (4) applies to all agents’ in the economy, including the median voter, who sets t, k, and g so as to maximize her indirect utility (subject to the government’s budget constraint, discussed below). Under autocracy, equation (4) appli ...
... rate increases with pre-tax labor income. Under democracy, equation (4) applies to all agents’ in the economy, including the median voter, who sets t, k, and g so as to maximize her indirect utility (subject to the government’s budget constraint, discussed below). Under autocracy, equation (4) appli ...
Guidelines for tax reform in Canada
... Economic Growth Reducing selective preferences and lowering tax rates will provide an important boost to investment and other growth- and job-producing economic activity. The current income tax system is characterized by relatively high marginal tax rates and narrow tax bases because of selective wr ...
... Economic Growth Reducing selective preferences and lowering tax rates will provide an important boost to investment and other growth- and job-producing economic activity. The current income tax system is characterized by relatively high marginal tax rates and narrow tax bases because of selective wr ...
Chapter 11
... contractionary stimulus can be given automatically. • Unemployment insurance, the progressive income tax, and welfare serve as the built-in policies. • If the economy is in recession, those who lose their jobs are granted unemployment and/or welfare benefits and they owe less in taxes. • If the econ ...
... contractionary stimulus can be given automatically. • Unemployment insurance, the progressive income tax, and welfare serve as the built-in policies. • If the economy is in recession, those who lose their jobs are granted unemployment and/or welfare benefits and they owe less in taxes. • If the econ ...
The impact of fiscal policy on the business cycle
... and the private sector for funds could put upward pressure on the interest rate). This, in turn, would tend to crowd out some consumption and investment spending that would otherwise have occurred. ...
... and the private sector for funds could put upward pressure on the interest rate). This, in turn, would tend to crowd out some consumption and investment spending that would otherwise have occurred. ...
Public Finance and Public Policy
... attended his son’s bar mitzvah. The rabbi claimed that his position obliged him to invite all 725 families from his congregation to the celebration. The tax court disagreed, finding that the rabbi “was not required to invite the entire membership of the congregation to David’s bar mitzvah service an ...
... attended his son’s bar mitzvah. The rabbi claimed that his position obliged him to invite all 725 families from his congregation to the celebration. The tax court disagreed, finding that the rabbi “was not required to invite the entire membership of the congregation to David’s bar mitzvah service an ...
This PDF is a selection from a published volume from... National Bureau of Economic Research
... does not help explain this unless government revenue is less valued in poorer countries. The presumption in Gordon and Li is that capital-intensive industries will value much more the use of the financial sector, and so have a higher aj .8 To begin with, this will imply a higher sj in capital-intens ...
... does not help explain this unless government revenue is less valued in poorer countries. The presumption in Gordon and Li is that capital-intensive industries will value much more the use of the financial sector, and so have a higher aj .8 To begin with, this will imply a higher sj in capital-intens ...
chapter summary
... such as the federal income tax, once implemented, operate year after year without congressional action. Discretionary fiscal policy results from specific legislation about government spending, taxation, and transfers. If that legislation becomes permanent, then discretionary fiscal policies often be ...
... such as the federal income tax, once implemented, operate year after year without congressional action. Discretionary fiscal policy results from specific legislation about government spending, taxation, and transfers. If that legislation becomes permanent, then discretionary fiscal policies often be ...
No. 434 - Banco de la República
... and expenditures to act as economic stabilizers are such that they react automatically to changes in economic activity. Fiscal policy may foster or hinder the use of automatic stabilizers. The effectiveness of these self-regulatory tools are determined among others factors, by both the level of econ ...
... and expenditures to act as economic stabilizers are such that they react automatically to changes in economic activity. Fiscal policy may foster or hinder the use of automatic stabilizers. The effectiveness of these self-regulatory tools are determined among others factors, by both the level of econ ...
The Fiscal Dimensions of Conflict and Reconstruction
... But such progress is not linear. Developed countries have histories marked by violent disagreement over the rules of the game, including taxation and spending. The English civil war (1642-48), with its conflict between the crown and parliament over the monarch's powers of taxation, is a case in poin ...
... But such progress is not linear. Developed countries have histories marked by violent disagreement over the rules of the game, including taxation and spending. The English civil war (1642-48), with its conflict between the crown and parliament over the monarch's powers of taxation, is a case in poin ...
Is There a Role for Discretionary Fiscal Policy?
... Finally, as has long been noted, changes in particular components of the surplus—most obviously, changes in spending as opposed to changes in revenues—should have different effects on aggregate demand. Thus, the change in the deficit, even cyclically adjusted, is inadequate to convey the magnitude ...
... Finally, as has long been noted, changes in particular components of the surplus—most obviously, changes in spending as opposed to changes in revenues—should have different effects on aggregate demand. Thus, the change in the deficit, even cyclically adjusted, is inadequate to convey the magnitude ...
Section 16. General Management of Fiscal Risks
... indicators) in the medium-term regardless of the changes caused by external factors, as well as to reduce impact of changes caused by external factors in fiscal indicators in each year of the framework law period. Key Fiscal indicator: General Government Deficit ...
... indicators) in the medium-term regardless of the changes caused by external factors, as well as to reduce impact of changes caused by external factors in fiscal indicators in each year of the framework law period. Key Fiscal indicator: General Government Deficit ...
political economy of tax reforms
... The constitution also strengthened the process of judicial review in Colombia, allowing the courts to determine whether laws are constitutional. The Constitutional Court has a mandate to review all laws and constitutional amendments enacted and holds veto power over them. It also considers citizen-i ...
... The constitution also strengthened the process of judicial review in Colombia, allowing the courts to determine whether laws are constitutional. The Constitutional Court has a mandate to review all laws and constitutional amendments enacted and holds veto power over them. It also considers citizen-i ...
Political Institutions, State Building and Tax Capacity: Crossing
... 57 cases in post-Second World War economies where there was an exogenous change in the country’s leader (sudden death, resignation, etc.). They find that the change of national leaders is related to economic growth. These political conditions are key ingredients to enable the building of state and t ...
... 57 cases in post-Second World War economies where there was an exogenous change in the country’s leader (sudden death, resignation, etc.). They find that the change of national leaders is related to economic growth. These political conditions are key ingredients to enable the building of state and t ...
Assessing long-term fiscal dynamics: Evidence from Greece and Belgium:
... Unit root and cointegration tests are commonly used to examine the sustainability of public finances and the possibility of fiscal deterioration if past fiscal policies are to be kept in the future. The analyses focus on testing if the first differences of the debt series are stationary or if the go ...
... Unit root and cointegration tests are commonly used to examine the sustainability of public finances and the possibility of fiscal deterioration if past fiscal policies are to be kept in the future. The analyses focus on testing if the first differences of the debt series are stationary or if the go ...
PRECONDITIONS AND CONSEquENCES Of IllEgAl gOODS TRAffIC
... 1. Theoretical Aspect of the Problem In simple evaluation the driving force of illegal goods traffic is to evade taxes and gain additional benefits. Authors of the article [1, p. 88] which considers tax problems in Lithuania emphasize that it is necessary to separate two illegal tax evasion methods ...
... 1. Theoretical Aspect of the Problem In simple evaluation the driving force of illegal goods traffic is to evade taxes and gain additional benefits. Authors of the article [1, p. 88] which considers tax problems in Lithuania emphasize that it is necessary to separate two illegal tax evasion methods ...
