Results 11 to 20 of about 1,770,527 (170)
Fiscal Rules, Fiscal Space and Procyclical Fiscal Policy [PDF]
SSRN Electronic Journal, 2015 In this paper we analyse the interaction of fiscal rules and fiscal space. We find strong evidence for fiscal rules being associated with higher fiscal space. Furthermore, the analysis shows that countries with more fiscal space tend to have higher discretionary expenditures, but that this effect is significantly reduced if fiscal rules are in place. A
Nerlich, Carolin, Reuter, Wolf Heinrich
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SSRN Electronic Journal, 2011 The authors show that even when the exchange rate cannot be devalued, a small set of conventional fiscal policy instruments can robustly replicate the real allocations attained under a nominal exchange rate devaluation in a standard New Keynesian open economy environment. They perform the analysis under alternative pricing assumptions-producer or local
Farhi, Emmanuel +2 more
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Fiscal Decentralization, Fiscal Rules and Fiscal Discipline [PDF]
SSRN Electronic Journal, 2013 Fiscal decentralization (FD) and fiscal rules (FR) are institutional mechanisms that have been implemented in increasing number of countries by varying measures. This paper investigates empirically the effect of FR on the effectiveness of FD in achieving fiscal discipline.
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Elections, Fiscal Policy and Fiscal Illusion [PDF]
SSRN Electronic Journal, 2010 This paper tests the joint hypotheses that policymakers engage in fiscal policy opportunism and that voters respond by rewarding that opportunism with higher vote margins. Furthermore, it investigates the impact of fiscal illusion on the previous two dimensions.
Paulo Reis Mourão +1 more
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Fiscal Equalization Schemes and Fiscal Sustainability [PDF]
SSRN Electronic Journal, 2012 Fiscal sustainability tests have largely ignored the institutional setting of fiscal policy making. Fiscal equalization schemes in federal states are one such institution. We examinewhether German state governments pursue sustainable fiscal policies taking intoaccount fiscal equalization transfers.
Niklas Potrafke, Markus Reischmann
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Fiscal Stabilisation Policy and Fiscal Institutions [PDF]
SSRN Electronic Journal, 2006 In this paper we analyse counter-cyclical fiscal policy within the context of a microfounded analysis of business-cycle stabilization. We show that tax and spending instruments can have a useful counter-cyclical role, even after allowing for the distortionary nature of the instruments and the need for debt sustainability.
Campbell Leith, Simon Wren-lewis
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Fiscal Space and Increasing Fiscal Resilience [PDF]
SSRN Electronic Journal, 2019 The paper compares fiscal cyclicality across regions and countries from 1960 to 2016. It finds that more than half of 170 countries analyzed in seven regions had, in more recent years, limited fiscal space, and that their fiscal policy was either cyclical or procyclical.
Aizenman, Joshua +3 more
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Japan's fiscal policy and fiscal reconstruction [PDF]
International Economics and Economic Policy, 2005 This paper investigates the macroeconomic effects of fiscal policy and the fiscal reconstruction movement in Japan. We first summarize Japan's fiscal policy in recent years and discuss advantages and disadvantages of government deficits. Next, we investigate the macroeconomic effects of Japanese fiscal policy and evaluate the plausibility of non ...
Toshihiro Ihori, Atsushi Nakamoto
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Fiscal shocks and fiscal risk management [PDF]
Journal of Monetary Economics, 2001 Abstract We use the returns on a set of international financial securities to identify exogenous shocks to the Canadian federal surplus. We find that a large portion of the variation in the surplus can be replicated by a linear combination of these returns and that the recent rise in debt resulted from adverse shocks and a delayed response by the ...
Huw Lloyd-Ellis, Xiaodong Zhu
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