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Incentive Effects of Fiscal Rules on the Finance Minister's Behaviour: Evidence from Revenue Projections in Swiss Cantons

Chatagny, Florian - CESifo - 2015

projection errors have a direct impact on fiscal deficits. In this paper, we explore the relationship between the ideology of the …-intuitive positive effect of the ideology of the finance minister on tax revenue projection errors in the sense that a more left …-wing finance minister produces relatively more conservative forecasts. We also find that fiscal rules reduce the effect of ideology …

Persistent link: https://www.econbiz.de/10011185626

The Power of Parties

Fiva, Jon H.; Folke, Olle; Sørensen, Rune J. - CESifo - 2013

As with the market for goods and services, democratic competition involves political parties offering their services (policy programs) to citizen-consumers who vote for their preferred partisan supplier. Little is known about the partial effect of a shift in parties’ seat shares for given...

Persistent link: https://www.econbiz.de/10010627555

Fiscal Autonomy and Fiscal Sustainability: Subnational Taxation and Public Indebtedness in Contemporary Spain

Larin, Benjamin; Süssmuth, Bernd - CESifo - 2014

This study assesses fiscal sustainability in contemporary Spain at the regional level. Spain consists of 17 autonomous regions, two fiscal regimes differing in taxing autonomy, and two path-dependent types of communities with more and less legislatively recognized autonomy. Three of the 17...

Persistent link: https://www.econbiz.de/10010756168

Testing the Tax Competition Theory: How Elastic are National Tax Bases in OECD Countries?

Riedl, Aleksandra; Rocha-Akis, Silvia - CESifo - 2009

To what extent do countries' corporate income tax (CIT) rates attract foreign tax bases? What are the revenue implications of a unilateral tax reduction when tax bases are internationally mobile? These questions are explored using a panel of annual data from 17 OECD countries spanning the period...

Persistent link: https://www.econbiz.de/10004979400

Fiscal Rules and the Opportunistic Behaviour of the Incumbent Politician: Evidence from Italian Municipalities

Bartolini, David; Santolini, Raffaella - CESifo - 2009

Previous studies on electoral competition show that fiscal variables are manipulated by incumbent politicians in order to be re-elected. This phenomenon has been addressed by the literature on electoral budget cycle and, in a decentralised economy, by the literature on yardstick competition. Our...

Persistent link: https://www.econbiz.de/10005000400

Policy Responses to Fiscal Restraints: A Difference-in-Discontinuities Design

Grembi, Veronica; Nannicini, Tommaso; Troiano, Ugo - CESifo - 2012

We evaluate the effect of relaxing fiscal rules on policy outcomes applying a quasi-experimental research design. In 1999, the Italian central government introduced fiscal rules aimed at imposing fiscal discipline on municipal governments, and in 2001 the rules were relaxed for municipalities...

Persistent link: https://www.econbiz.de/10010593127

Spend-and-tax: A Panel Data Investigation for the EU

Afonso, António; Rault, Christophe - CESifo - 2009

Using bootstrap panel analysis, allowing for cross-country correlation, without the need of pre-testing for unit roots, we study the causality between government spending and revenue for the EU in the period 1960-2006. We find spend-and-tax causality for Italy, France, Spain, Greece, and...

Persistent link: https://www.econbiz.de/10005013057

Long-Term Interest Rates and Public Debt Maturity

Sakalauskaite, Ieva; Beetsma, Roel; Giuliodori, Massimo - CESifo - 2013

For a sample of sixteen OECD countries over the period 1980-2007 we show that, for given debt-GDP ratio, an increase in the maturity of the public debt by one year lowers its long-term interest rate by around 20-30 basis points. This effect is stronger for countries with higher average inflation...

Persistent link: https://www.econbiz.de/10010697222

Ageing and the Welfare State: Securing Sustainability

Meier, Volker; Werding, Martin - CESifo - 2010

Over the next four decades, increasing old-age dependency ratios exert an enormous upward pressure on welfare spending in most developed countries. As this is mainly due to existing unfunded public pension schemes, many countries have embarked on far-reaching reforms in this area, strengthening...

Persistent link: https://www.econbiz.de/10008534027

Revenue Forecasting Practices: Differences across Countries and Consequences for Forecasting Performance

Buettner, Thiess; Kauder, Björn - CESifo - 2009

This paper reviews the practice and performance of revenue forecasting in selected OECD countries. While the mean forecast errors are small in most countries, the precision of the forecasts measured by the standard deviation of the forecast error differs substantially across countries. Based on...

Persistent link: https://www.econbiz.de/10005000378

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