Results 21 to 30 of about 1,891,157 (342)
On Deficits and Symmetries in a Fiscal Capacity [PDF]
, 2015 There is a growing debate about complementing the European Monetary Union by a more comprehensive fiscal union. Against this background, this paper emphasizes that there is a trade-off in designing a system of fiscal transfers ("fiscal capacity") in a union between members of different size.
Hebous, Shafik, Weichenrieder, Alfons J.
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IMF Working Papers, 2003 Macroeconomic theory postulates that fiscal deficits cause inflation. Yet empirical research has had limited success in uncovering this relationship. This paper reexamines the issue in light of broader data and a new modeling approach that incorporates two key features of the theory. Unlike previous studies, we model inflation as nonlinearly related to
Luis Catão, Marco Terrones
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Fiscal Deficits and Current Account Deficits
IMF Working Papers, 2009 The effectiveness of recent fiscal stimulus packages significantly depends on the assumption of non-Ricardian savings behavior. We show that, under the same assumption, fiscal deficits can have worrisome implications if they turn out to be permanent. First, if they occur in large countries they significantly raise the world real interest rate.
Michael Kumhof, Douglas Laxton
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Expansionary Fiscal Shocks and the Trade Deficit [PDF]
International Finance Discussion Papers, 2005 In this paper, we use an open economy DGE model (SIGMA) to assess the quantitative effects of fiscal shocks on the trade balance in the United States. We examine the effects of two alternative fiscal shocks: a rise in government consumption, and a reduction in the labor income tax rate.
Christopher J. Erceg +2 more
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Fiscal dominance and exchange rate stability in Nigeria
Future Business Journal, 2021 This study investigates fiscal dominance and exchange rate stability in Nigeria. The period of investigation spanned 1981q1–2018q4, and the Structural Vector Autoregression (SVAR) technique was employed to test the fiscal dominance hypothesis and further
Taofeek Olusola Ayinde +1 more
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Fiscal decentralization and deficits: International evidence [PDF]
European Journal of Political Economy, 2010 Abstract This paper investigates macroeconomic effects of fiscal decentralization, which has been a neglected area of research. Panel evidence for 16 countries over 1980–1998 indicates that expenditure and revenue decentralization reduce budget deficits.
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Comparative Economic Studies, 2022 Following the present scale of fiscal imbalances, governments often implement fiscal consolidation programs to restore macroeconomic stability. This paper empirically explores the connections between social expenditure, current account and fiscal ...
A. Lahiani, Ameni Mtibaa, F. Gabsi
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TWO STEPS OF RICARDIAN EQUIVALENCE: AN EVIDENCE IN INDONESIA
Jurnal Akuntansi, Manajemen dan Ekonomi, 2019 Ricardian Equivalence was analyzed through the influence of deficit fiscal policy on consumption, the fiscal deficit policy of Soeharto regime and reform had a difference, the difference lied in the policy as outline in the government budgets preparation.
ADHITYA WARDHONO +3 more
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Policy mix in a small open emerging economy with commodity prices
Latin American Journal of Central Banking, 2023 The article analyzes the interaction between monetary and fiscal policy in Mexico. We calibrated a semi-structural model for a small open economy, based on Aguilar and Ramírez-Bulos (2018), for Mexico by using quarterly data from 2001Q1 to 2019Q4.
Marine C. André +3 more
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Fiscal deficits and growth in developing countries [PDF]
Journal of Public Economics, 2005 This paper examines the relation between fiscal deficits and growth for a panel of 45 developing countries. Based on a consistent treatment of the government budget constraint, it finds evidence of a threshold effect at a level of the deficit around 1.5% of GDP.
Adam, C, Bevan, D
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