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Indian Public Finance in the 1990s: Challenges and Prospects

Buiter, Willem H.; Patel, U - C.E.P.R. Discussion Papers - 1994

This study updates and extends to the period 1988/9--1992/3 our earlier analysis of the public finances of India. The …

Persistent link: https://www.econbiz.de/10005114352

India's De-Industrialization Under British Rule: New Ideas, New Evidence

Clingingsmith, David; Williamson, Jeffrey G - C.E.P.R. Discussion Papers - 2005

India was a major player in the world export market for textiles in the early 18th century, but by the middle of the 19 … some decline, and India underwent secular de-industrialization as a consequence. While India produced about 25% of world … about the relative role played by domestic and foreign forces in India’s de-industrialization. The construction of new …

Persistent link: https://www.econbiz.de/10005136603

Country Heterogeneity and the International Evidence on the Effects of Fiscal Policy

Favero, Carlo A.; Giavazzi, Francesco; Perego, Jacopo - C.E.P.R. Discussion Papers - 2011

This paper shows how the richer frequency and variety of fiscal policy shocks available in an international sample can be analyzed recognizing the heterogeneity that exists across different countries. The main conclusion of our empirical analysis is that the question 'what is the fiscal policy...

Persistent link: https://www.econbiz.de/10009201121

Price Effects of Sovereign Debt Auctions in the Euro-zone: The Role of the Crisis

Beetsma, Roel; de Jong, Frank; Giuliodori, Massimo; … - C.E.P.R. Discussion Papers - 2013

Exploring the period since the inception of the euro, we show that secondary-market yields on Italian public debt increase in anticipation of auctions of new issues and decrease after the auction, while no or a smaller such effect is present for German public debt. However, these yield movements...

Persistent link: https://www.econbiz.de/10011083630

Public Debt and Redistribution with Borrowing Constraints

Bilbiie, Florin Ovidiu; Monacelli, Tommaso; Perotti, Roberto - C.E.P.R. Discussion Papers - 2012

In an economy with financial imperfections, Ricardian equivalence holds when prices are flexible and the steady-state distribution of consumption is uniform, or labor is inelastic. With different steady-state consumption levels, Ricardian equivalence fails, but tax cuts, somewhat paradoxically,...

Persistent link: https://www.econbiz.de/10011084445

Political Competition and the Limits of Political Compromise

Cunha, Alexandre B.; Ornelas, Emanuel - C.E.P.R. Discussion Papers - 2014

We consider an economy where competing political parties alternate in office. Due to rent-seeking motives, incumbents have an incentive to set public expenditures above the socially optimum level. Parties cannot commit to future policies, but they can forge a political compromise where each...

Persistent link: https://www.econbiz.de/10011083364

Emotions and Political Unrest

Passarelli, Francesco; Tabellini, Guido - C.E.P.R. Discussion Papers - 2013

This paper formulates a theory of how political unrest influences public policy. Political unrest is motivated by emotions. Individuals engage in protests if they are aggrieved and feel that they have been treated unfairly. This reaction is predictable because individuals have a consistent view...

Persistent link: https://www.econbiz.de/10011083543

Political Shocks, Public Debt and the Design of Monetary and Fiscal Institutions

Beetsma, Roel; Bovenberg, A Lans - C.E.P.R. Discussion Papers - 2003

We explore the dynamics of public debt in the presence of political shocks, in the form of shocks to preferences for public spending. Under commitment, optimal stabilization is obtained by combining an inflation target that is contingent on the political shock with a debt target that forces the...

Persistent link: https://www.econbiz.de/10005788888

Saving and Endogenous Growth: A Survey of Theory and Policy

Buiter, Willem H. - C.E.P.R. Discussion Papers - 1991

The paper surveys and extends recent results on the effect of changes in government fiscal and financial policy, and in private savings behaviour, on economic growth. Private saving behaviour is represented by an overlapping generations (OLG) model. The supply side of the model permits...

Persistent link: https://www.econbiz.de/10005789148

Debts, Deficits and Growth in Interdependent Economies

Alogoskoufis, George; van der Ploeg, Frederick - C.E.P.R. Discussion Papers - 1991

We investigate the effects of budgetary policies on growth rates, external debt, real interest rates and the stock market valuation of capital in a two-country, overlapping-generations model of endogenous growth. A worldwide rise in the public debt/GDP ratio, or the share of government...

Persistent link: https://www.econbiz.de/10005791408

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