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Corruption, Seigniorage and Growth: Theory and Evidence
Blackburn, Keith; Neanidis, Kyriakos C.; Haque, M. Emranul - CESifo - 2008
This paper presents an analysis of the effect of bureaucratic corruption on economic growth through a public finance … seigniorage finance. This leads to an increase in inflation which, in turn, reduces capital accumulation and growth. At the …
Persistent link: https://www.econbiz.de/10005181368
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Unemployment, Growth and Speed of Transition in China
Fidrmuc, Jan; Huang, Shuo - CESifo - 2013
We investigate the relationship between unemployment and growth in China. We find considerable differences in the …
Persistent link: https://www.econbiz.de/10010877790
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Optimal Management with Potential Regime Shifts
Polasky, Stephen; Zeeuw, Aart de; Wagener, Florian - CESifo - 2010
We analyze how the threat of a potential future regime shift affects optimal management. We use a simple general growth …
Persistent link: https://www.econbiz.de/10008727304
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Legal Institutions, Innovation and Growth
Anderlini, Luca; Felli, Leonardo; Immordino, Giovanni; … - CESifo - 2011
We analyze the relationship between legal institutions, innovation and growth. We compare a rigid (law set ex … welfare, amount of innovation and output growth at intermediate stages of technological development - periods when legal … excessive (greater than first-best) R&D investment and output growth. …
Persistent link: https://www.econbiz.de/10009150639
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What Should Fiscal Councils Do?
Calmfors, Lars - 2011
The paper analyses theoretically what role fiscal councils could play and surveys empirically the activities of existing councils. Case studies of the Swedish Fiscal Policy Council and the UK Office for Budget Responsibility are done. It is concluded that fiscal councils should be advisory,...
Persistent link: https://www.econbiz.de/10013128042
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Fiscal Adjustment and the Costs of Public Debt Service : Evidence from OECD Countries
Schaltegger, Christoph A. - 2011
We use a panel of 21 OECD countries from 1970 to 2009 to investigate the effects of different fiscal adjustment strategies on long-term interest rates – a key fiscal indicator reflecting the costs of government debt service. A government confronted with high deficits and rising debt will...
Persistent link: https://www.econbiz.de/10013131547
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An Economic Theory of Switzerland
Blankart, Charles B. - 2011
Switzerland is often viewed as a federalist curiosity and a unique form of direct democracy. But this view does not provide a proper understanding of the country. A theory of Switzerland is necessary. A consideration of the initial, exogenous geographical situation of Swiss territory provides a...
Persistent link: https://www.econbiz.de/10013117983
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Using Real-Time Data to Test for Political Budget Cycles
Jong-A-Pin, Richard - 2012
We use real‐time annual data on the fiscal balance, government current spending, current revenues and net capital outlays as published at a half yearly frequency in the OECD Economic Outlook for 25 OECD countries. For each fiscal year t we have a number of forecasts, a first release, and...
Persistent link: https://www.econbiz.de/10013100272
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Estimating the Effects of Coordinated Fiscal Actions in the Euro Area
Hebous, Shafik - 2012
We estimate spillover effects of a fiscal shock in one member country in the euro area on outputs of the rest of the members, using a Global Vector Autoregression (GVAR) model. We compare the effects of a domestic fiscal shock with those of a similar size area-wide shock expressed as a weighted...
Persistent link: https://www.econbiz.de/10013101197
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The Sustainability of Fiscal Policy in Italy : A Long-Term Perspective
Bartoletto, Silvana - 2012
The recent fears of a sovereign debt crisis have spurred interest in the sustainability of public debt. There are two different approaches to the assessment of sustainability: the use of sustainability gap indicators (Blanchard et al., 1990) and the time series approach (Trehan and Walsh, 1988)....
Persistent link: https://www.econbiz.de/10013106545