POPULATION AGING, MARGINAL PROPENSITY TO CONSUME
... aging increasing, the increasing dependency burden for young people and tax revenue will decrease the social saving rate, thereby affecting the accumulation of capital and slowing economic growth. Besides, the increasing number of old people will increase the burden of government, not only through e ...
... aging increasing, the increasing dependency burden for young people and tax revenue will decrease the social saving rate, thereby affecting the accumulation of capital and slowing economic growth. Besides, the increasing number of old people will increase the burden of government, not only through e ...
What Do Budget Deficits Do? - Federal Reserve Bank of Kansas City
... diverse reasons. Thus, despite almost unanimous concern over deficits, there is considerable controversy about what effects deficits have on the economy. The goal of this paper is to clarify these effects. Do budget deficits reduce economic growth? Threaten to create a financial crisis? Do deficits ...
... diverse reasons. Thus, despite almost unanimous concern over deficits, there is considerable controversy about what effects deficits have on the economy. The goal of this paper is to clarify these effects. Do budget deficits reduce economic growth? Threaten to create a financial crisis? Do deficits ...
The Economic Crisis through the Lens of Economic Wellbeing
... investment and inventories, were the first to react. A common perception is that Canada’s recession was caused primarily by a fall in exports, due both to declining commodity prices and the difficulties in the automobile manufacturing sector. While exports have indeed fallen at a rapid pace (a total ...
... investment and inventories, were the first to react. A common perception is that Canada’s recession was caused primarily by a fall in exports, due both to declining commodity prices and the difficulties in the automobile manufacturing sector. While exports have indeed fallen at a rapid pace (a total ...
Inter-age transfers in Chile
... more recent years, important policy changes have been introduced in the health sector, and an active debate over the course of 2006 has taken place over a new reform of the pension system, which has resulted in a comprehensive government proposal that was submitted to Congress for consideration and ...
... more recent years, important policy changes have been introduced in the health sector, and an active debate over the course of 2006 has taken place over a new reform of the pension system, which has resulted in a comprehensive government proposal that was submitted to Congress for consideration and ...
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... between firms and users, leading to a decrease of uncertainty in the innovation process (von Hippel, 1982, 1986; Lundvall 1988; Guerzoni, 2007). On the other hand, the size of the payoff to successful investment in innovation activities determines their attractiveness for firms. In the words of the ...
... between firms and users, leading to a decrease of uncertainty in the innovation process (von Hippel, 1982, 1986; Lundvall 1988; Guerzoni, 2007). On the other hand, the size of the payoff to successful investment in innovation activities determines their attractiveness for firms. In the words of the ...
This PDF is a selection from an out-of-print volume from... of Economic Research Volume Title: Fiscal Institutions and Fiscal Performance
... the business cycle has been procyclical in every country in the region, as in the case of deficits and expenditures, there are also significant differences across countries in this regard. The great variety of fiscal experiences among fairly homogeneous groups of countries is not unique to Latin Ame ...
... the business cycle has been procyclical in every country in the region, as in the case of deficits and expenditures, there are also significant differences across countries in this regard. The great variety of fiscal experiences among fairly homogeneous groups of countries is not unique to Latin Ame ...
A Post-Keynesian model of the business cycle Pedro Leão ISEG
... According to the Kaleckian growth model, economies converge to a long-run steady-state characterized by a constant rate of accumulation and a constant rate of capacity utilization. Yet, this conclusion is debatable. First, the Kaleckian steady-state rate of utilization is in general different from t ...
... According to the Kaleckian growth model, economies converge to a long-run steady-state characterized by a constant rate of accumulation and a constant rate of capacity utilization. Yet, this conclusion is debatable. First, the Kaleckian steady-state rate of utilization is in general different from t ...
research paper series Research Paper 2015/08 Inequality and Trade: A Behavioral-Economics Perspective
... Our paper is inspired primarily by the seminal work of Mitra and Trindade (2005) which proposes that when preferences are non-homothetic, differences in inequality levels between two countries may potentially act as a driving factor of trade between countries with similar factor endowments. Our appr ...
... Our paper is inspired primarily by the seminal work of Mitra and Trindade (2005) which proposes that when preferences are non-homothetic, differences in inequality levels between two countries may potentially act as a driving factor of trade between countries with similar factor endowments. Our appr ...
Principles of Macroeconomics, Case/Fair/Oster, 10e
... the tax rate could cause tax revenues to fall. Similarly, under the same circumstances, a cut in the tax rate could generate enough additional economic activity to cause revenues to rise. ...
... the tax rate could cause tax revenues to fall. Similarly, under the same circumstances, a cut in the tax rate could generate enough additional economic activity to cause revenues to rise. ...
Revisiting the Link between Growth and Federalism: A Bayesian
... divided into federal or unitary systems and there were hardly any political or economic initiatives for restructuring. This was the post-World War II period, characterized by rapid growth in public spending. The resulting large government involvement in the economy eventually raised concerns over pu ...
... divided into federal or unitary systems and there were hardly any political or economic initiatives for restructuring. This was the post-World War II period, characterized by rapid growth in public spending. The resulting large government involvement in the economy eventually raised concerns over pu ...
Inflation - luthapmacro
... -Firms cannot respond to increases in demand by increasing output. So, in effect, further increases in demand raise the price level. The rate of inflation may be high and still rising because total demand greatly exceeds society’s capacity to produce. There is no increase in real output to asorb som ...
... -Firms cannot respond to increases in demand by increasing output. So, in effect, further increases in demand raise the price level. The rate of inflation may be high and still rising because total demand greatly exceeds society’s capacity to produce. There is no increase in real output to asorb som ...
A TWIN DEFICIT - THE ISSUE OF THE SERBIAN ECONOMY
... taxes and another income are uncertain and insecure; fourth, not all tax revenues are lump-sum, most of them are determined by income, spending, and wealth; and fifth, this hypothesis is based on full employment. Certain studies have shown that, in the last few decades, it has been noticeable that c ...
... taxes and another income are uncertain and insecure; fourth, not all tax revenues are lump-sum, most of them are determined by income, spending, and wealth; and fifth, this hypothesis is based on full employment. Certain studies have shown that, in the last few decades, it has been noticeable that c ...
DOC 343 KB - budget.govt.nz
... Government has updated its long-term debt objective. The Government now plans to reduce net debt to between 10 per cent and 15 per cent of GDP over the long term, and aims to be within this band by 2025. The short-term target of reducing net debt to around 20 per cent of GDP in 2020 remains unchange ...
... Government has updated its long-term debt objective. The Government now plans to reduce net debt to between 10 per cent and 15 per cent of GDP over the long term, and aims to be within this band by 2025. The short-term target of reducing net debt to around 20 per cent of GDP in 2020 remains unchange ...
tutorial
... 10. In A-7, the self-correcting AD/AS model predicts that the long-run result of the decrease from AD1 to AD2 will be a (an) a. higher price level and higher unemployment rate. b. lower price level and higher unemployment rate. c. unchanged price level and full employment. d. lower price level and ...
... 10. In A-7, the self-correcting AD/AS model predicts that the long-run result of the decrease from AD1 to AD2 will be a (an) a. higher price level and higher unemployment rate. b. lower price level and higher unemployment rate. c. unchanged price level and full employment. d. lower price level and ...
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... The conclusion has been that fiscal stabilisation policy is likely to be badly timed and procyclical, especially in booms because it is politically much more difficult then to pursue restrictive policies than it is to pursue expansionary policies in recessions.2 The current conventional wisdom is th ...
... The conclusion has been that fiscal stabilisation policy is likely to be badly timed and procyclical, especially in booms because it is politically much more difficult then to pursue restrictive policies than it is to pursue expansionary policies in recessions.2 The current conventional wisdom is th ...
QE in the future: the central bank`s balance sheet in a fiscal crisis
... it, as before, but now also a large stock of longer-term government securities. These changes were the result of quantitative easing (QE) policies, which both increased the size of the balance sheet of the central bank, by issuing banks reserves, as well as its composition, by extending the maturity ...
... it, as before, but now also a large stock of longer-term government securities. These changes were the result of quantitative easing (QE) policies, which both increased the size of the balance sheet of the central bank, by issuing banks reserves, as well as its composition, by extending the maturity ...
Public Finance and Public Policy
... The methods and results derived from empirical economics are central to the development of public policy at all levels of government. The Congressional Budget Office (CBO) provides Congress with the objective, timely, nonpartisan analyses needed for economic and budget decisions. The CBO incre ...
... The methods and results derived from empirical economics are central to the development of public policy at all levels of government. The Congressional Budget Office (CBO) provides Congress with the objective, timely, nonpartisan analyses needed for economic and budget decisions. The CBO incre ...
Chapter 12
... disposable income in year 1 over reduced consumption, Ct, in all years t. Therefore, the effect on year 1’s consumption, C1, will be relatively small. The propensity to consume out of a temporary change in income is greater than zero but much less than one. ...
... disposable income in year 1 over reduced consumption, Ct, in all years t. Therefore, the effect on year 1’s consumption, C1, will be relatively small. The propensity to consume out of a temporary change in income is greater than zero but much less than one. ...
BPfG Taxation Committee Presentation 14May15
... BPfG works both revenues and expenses to close $1.1billion gap (Economic Forum revenues versus Governor’s recommended budget) ...
... BPfG works both revenues and expenses to close $1.1billion gap (Economic Forum revenues versus Governor’s recommended budget) ...
NBER WORKING PAPER SERIES DIRECT OR INDIRECT TAX INSTRUMENTS FOR REDISTRIBUTION:
... assumptions are relaxed. Intuitively, in the long run or occupational choice model, as hours of work are fixed, income is directly proportional to the wage rate and therefore, the income tax is equivalent to a direct tax on wages and thus indirect taxation through tariffs, production subsidies or c ...
... assumptions are relaxed. Intuitively, in the long run or occupational choice model, as hours of work are fixed, income is directly proportional to the wage rate and therefore, the income tax is equivalent to a direct tax on wages and thus indirect taxation through tariffs, production subsidies or c ...
Analysis of the long term effects of a company tax cut
... the foreseeable future which implies any improvement in Australia’s living standards must be driven by a higher level of labour productivity. Historical data reveal Australia’s labour productivity growth has largely been driven by capital deepening. While a company tax will encourage domestic and fo ...
... the foreseeable future which implies any improvement in Australia’s living standards must be driven by a higher level of labour productivity. Historical data reveal Australia’s labour productivity growth has largely been driven by capital deepening. While a company tax will encourage domestic and fo ...
NBER WORKING PAPER SERIES TEMPORARY SHOCKS AND UNAVOIDABLE TRANSITIONS
... that if the tax cut is credible, then this transition out of the high-unemployment steady state would be the unique time path. Similarly, fiscal policy plays a key role in determining whether the economy can converge back to the low-unemployment steady state after a negative shock. In standard model ...
... that if the tax cut is credible, then this transition out of the high-unemployment steady state would be the unique time path. Similarly, fiscal policy plays a key role in determining whether the economy can converge back to the low-unemployment steady state after a negative shock. In standard model ...