NBER WORKING PAPER SERIES 1900-2003
... capita social spending in 1990 dollars in Table 3 show that the leader Denmark was spending only $182 per capita while the United States trailed the pack at $35 per capita. Lindert (1994) confines his measures to social spending by governments, and thus government mandates for private social spendin ...
... capita social spending in 1990 dollars in Table 3 show that the leader Denmark was spending only $182 per capita while the United States trailed the pack at $35 per capita. Lindert (1994) confines his measures to social spending by governments, and thus government mandates for private social spendin ...
Does Central Bank Independence Frustrate the Optimal Fiscal
... However, similar to the Fed’s invitation for the fiscal authority to act responsibly relatively to orthodoxy and borrow and invest, the Fed’s advocacy on principal reduction has yet to be heard by the fiscal authority. As New York Fed President Dudley remarked in a recent interview, “the power of mo ...
... However, similar to the Fed’s invitation for the fiscal authority to act responsibly relatively to orthodoxy and borrow and invest, the Fed’s advocacy on principal reduction has yet to be heard by the fiscal authority. As New York Fed President Dudley remarked in a recent interview, “the power of mo ...
The Significance of Federal Taxes as Automatic
... various marginal tax rates. Some of these fluctuations in the distribution of income may be associated with business cycle fluctuations; some of the change in distribution in recent decades will reflect a secular trend. The second series in Figure 1 repeats the exercise of the first series, but hold ...
... various marginal tax rates. Some of these fluctuations in the distribution of income may be associated with business cycle fluctuations; some of the change in distribution in recent decades will reflect a secular trend. The second series in Figure 1 repeats the exercise of the first series, but hold ...
The Measurement of Income, Prices and Unemployment
... Y ≡ E Y = C + I + G + NX • Now, use the fact that household income must equal (2) household outlays (and recall that T = R - F): Y+F=C+S+R Y=C+S+T • Equating (1) and (2) yields the “Magic Equation” C + S + T = C + I + G + NX S + T = I + G + NX Copyright © 2009 Pearson Addison-Wesley. All rights ...
... Y ≡ E Y = C + I + G + NX • Now, use the fact that household income must equal (2) household outlays (and recall that T = R - F): Y+F=C+S+R Y=C+S+T • Equating (1) and (2) yields the “Magic Equation” C + S + T = C + I + G + NX S + T = I + G + NX Copyright © 2009 Pearson Addison-Wesley. All rights ...
The Effects of Fiscal Policy on Economic Growth: Empirical
... explanatory variables in growth equation. An interaction term of fiscal deficit with dummy of democracy is also included in the growth equation. ARDL technique provides best results in the presence of endogeneity. 56The explanatory variables and their lags are used as instruments. It is clear from T ...
... explanatory variables in growth equation. An interaction term of fiscal deficit with dummy of democracy is also included in the growth equation. ARDL technique provides best results in the presence of endogeneity. 56The explanatory variables and their lags are used as instruments. It is clear from T ...
S2000005_en.pdf
... which we proxy as the simple difference between the current account surplus and the fiscal surplus. From a strict accounting standpoint, the surplus of any agent should be the difference between its savings and its contribution to Gross Fixed Capital Formation. The relevant data for this purpose are ...
... which we proxy as the simple difference between the current account surplus and the fiscal surplus. From a strict accounting standpoint, the surplus of any agent should be the difference between its savings and its contribution to Gross Fixed Capital Formation. The relevant data for this purpose are ...
How Effective is Fiscal Policy Response in Financial Crises?
... Berg and Ostry (2011) find that the duration of growth spells is also affected by income distribution. Output growth episodes tend to be shorter and less frequent when income inequality is higher. ...
... Berg and Ostry (2011) find that the duration of growth spells is also affected by income distribution. Output growth episodes tend to be shorter and less frequent when income inequality is higher. ...
Ch 7 aggregate supply and aggregate demand* I. Aggregate Supply
... b) Intertemporal substitution effect: A rise in the price level, other things remaining the same, decreases the real value of money and raises the interest rate. Faced with a higher interest rate, people borrow less and spend less so the quantity of real GDP demanded decreases. Similarly, a fall in ...
... b) Intertemporal substitution effect: A rise in the price level, other things remaining the same, decreases the real value of money and raises the interest rate. Faced with a higher interest rate, people borrow less and spend less so the quantity of real GDP demanded decreases. Similarly, a fall in ...
Boon or Boondoggle?
... tion, from the quality of public schools to the regulation of optometrists. Economic development policies discussed here, however, are those that provide direct assistance to businesses. Direct economic development policies assist businesses with cash, such as tax subsidies, for exam ple, or with se ...
... tion, from the quality of public schools to the regulation of optometrists. Economic development policies discussed here, however, are those that provide direct assistance to businesses. Direct economic development policies assist businesses with cash, such as tax subsidies, for exam ple, or with se ...
Major Changes in the Presentation of the US National
... – Conversion matrix likely to become inaccurate over time due to fixed weights – Applicability of conversion matrix to data items not available in the matrix ...
... – Conversion matrix likely to become inaccurate over time due to fixed weights – Applicability of conversion matrix to data items not available in the matrix ...
325KB - Budget.gov.au
... Indirect taxes exclude the Goods and Services Tax (GST) and surcharge revenue raised by the Commonwealth on an agency basis and paid to the States and Territories (the latter as Revenue Replacement Payments (RRPs)). The final RRP liability was collected and paid to the States in 2000-01. Includes wi ...
... Indirect taxes exclude the Goods and Services Tax (GST) and surcharge revenue raised by the Commonwealth on an agency basis and paid to the States and Territories (the latter as Revenue Replacement Payments (RRPs)). The final RRP liability was collected and paid to the States in 2000-01. Includes wi ...
How Industry Conditions Affect Firm Value
... Firms that operate in more than one country are subject to the economic conditions within the countries that they operate. This can benefit the firm if conditions in the foreign country are strong while the United States economy is weak. Of course, it is also possible that the foreign economy ...
... Firms that operate in more than one country are subject to the economic conditions within the countries that they operate. This can benefit the firm if conditions in the foreign country are strong while the United States economy is weak. Of course, it is also possible that the foreign economy ...
Real GDP
... To get you excited about macroeconomics To have you rate this course as “excellent” ...
... To get you excited about macroeconomics To have you rate this course as “excellent” ...
Fiscal Rules for Economies with Nonrenewable Resources
... in prices is uncertain, information on cost of extraction from new fields is insufficient, and the stock of reserves and thus overall production potential is unknown. However, short-term fluctuations in revenue need not affect economic stability, including the levels of domestic consumption and inve ...
... in prices is uncertain, information on cost of extraction from new fields is insufficient, and the stock of reserves and thus overall production potential is unknown. However, short-term fluctuations in revenue need not affect economic stability, including the levels of domestic consumption and inve ...
Chapter 18
... a larger effect on aggregate demand, since households may not spend all of a tax cut. Advocates of fighting recessions with tax cuts argue that hastily implemented spending increases may be wasteful, and that tax cuts have beneficial incentive effects on both demand and ...
... a larger effect on aggregate demand, since households may not spend all of a tax cut. Advocates of fighting recessions with tax cuts argue that hastily implemented spending increases may be wasteful, and that tax cuts have beneficial incentive effects on both demand and ...
Central, Eastern, and Southeastern Europe
... tax (CIT)—to more neutral forms as taxation—such as the Value-Added Tax (VAT). On the spending side, countries with access to EU SCFs often managed to avoid large cuts in public investment. Large fiscal savings came instead from reforming entitlement programs and reducing public consumption. ...
... tax (CIT)—to more neutral forms as taxation—such as the Value-Added Tax (VAT). On the spending side, countries with access to EU SCFs often managed to avoid large cuts in public investment. Large fiscal savings came instead from reforming entitlement programs and reducing public consumption. ...
Document
... a larger effect on aggregate demand, since households may not spend all of a tax cut. Advocates of fighting recessions with tax cuts argue that hastily implemented spending increases may be wasteful, and that tax cuts have beneficial incentive effects on both demand and ...
... a larger effect on aggregate demand, since households may not spend all of a tax cut. Advocates of fighting recessions with tax cuts argue that hastily implemented spending increases may be wasteful, and that tax cuts have beneficial incentive effects on both demand and ...
a “how-to” guide: finding and interpreting gdp statistics
... different categories of income that are paid out (in that case, wages and profits). Or it can be added up in terms of the different categories of expenditure that subsequently arise from that income (in Chapter 10, this consists solely of investment and consumption – including both workers’ consumpt ...
... different categories of income that are paid out (in that case, wages and profits). Or it can be added up in terms of the different categories of expenditure that subsequently arise from that income (in Chapter 10, this consists solely of investment and consumption – including both workers’ consumpt ...
Macroeconomic Management When Policy Space is Constrained
... countries. Demand-management policies can support implementation of structural reforms that increase potential growth and prevent any initial drop in output and employment. When monetary policy is constrained, fiscal policy provides support. Similarly, monetary policy accommodation prevents a crowdi ...
... countries. Demand-management policies can support implementation of structural reforms that increase potential growth and prevent any initial drop in output and employment. When monetary policy is constrained, fiscal policy provides support. Similarly, monetary policy accommodation prevents a crowdi ...
Financialization - Hans-Böckler
... of increased financial fragility. Internationally, fragility was evident in the run of financial crises that afflicted the global economy in the late 1990s and early 2000s, and it has surfaced again in the recent US sub-prime mortgage crisis that spread to Europe. Furthermore, there are serious rese ...
... of increased financial fragility. Internationally, fragility was evident in the run of financial crises that afflicted the global economy in the late 1990s and early 2000s, and it has surfaced again in the recent US sub-prime mortgage crisis that spread to Europe. Furthermore, there are serious rese ...
Chapter 23
... a larger effect on aggregate demand, since households may not spend all of a tax cut. Advocates of fighting recessions with tax cuts argue that hastily implemented spending increases may be wasteful, and that tax cuts have beneficial incentive effects on both demand and ...
... a larger effect on aggregate demand, since households may not spend all of a tax cut. Advocates of fighting recessions with tax cuts argue that hastily implemented spending increases may be wasteful, and that tax cuts have beneficial incentive effects on both demand and ...
Costly capital reallocation and the effects of government spending
... consumption. Thus, this type of model can explain the positive correlation between government spending and the Solow residual found by Hall (1988) and Evans (1992). Despite the multitude of theoretical studies of government spending, the empirical effects of government spending have received far les ...
... consumption. Thus, this type of model can explain the positive correlation between government spending and the Solow residual found by Hall (1988) and Evans (1992). Despite the multitude of theoretical studies of government spending, the empirical effects of government spending have received far les ...