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favorable regulation in return. We investigate this channel in Italy where government members, including the prime minister, are … to 2009, during which Silvio Berlusconi was prime minister on and off three times, while maintaining control of Italy …
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We examine the measurement of tax expenditures, as well as review issues concerning the classification of tax expenditures generally. We use calculations from NBER's TAXSIM to illustrate some of the problems with the current methodology for estimating tax expenditures. Unlike most previous work...
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Based on this framework, we find that a Future Fund portfolio that included (amongst other potential investments) domestic nominal securities and equities of selected countries would reduce overall balance sheet risk
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This paper proposes an estimation method for a repeated auction game under the presence of capacity contraints. The … estimation strategy is computationally simple as it does not require solving for the equilibrium of the game. It uses a two stage … estimation method to repeated highway construction procurement auctions in the state of California between May 1996 and May 1999 …
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The standard theory of trade reform uses a passive government budget constraint, in which changes in tariff revenue are offset by changes in lump sum transfers. This paper offers a general framework for the analysis of trade reform when the government budget constraint is active, meaning that...
Persistent link: https://www.econbiz.de/10012473001
Single-equation estimates of fiscal reaction functions, which relate primary surpluses to past debt-GDP ratios and control variables, are subject to potentially serious simultaneity bias that can produce misleading inferences about fiscal behavior. Biases arise from failure to model the general...
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