Showing 1 - 10 of 55
We develop a methodology for using intra-annual data to forecast annual budget deficits. Our approach aims at improving the accuracy of the deficit forecasts, a relevant issue to policy makers in the Eurozone and at proposing a replicable methodology using at best public quantitative information...
Persistent link: https://www.econbiz.de/10005008353
Fiscal sustainability is a central topic for most of the transition economies of Eastern Europe. This paper focuses on a particular country: Poland. The main purpose is to investigate, empirically, whether the post-transition fiscal policy is consistent with the intertemporal budget constraint,...
Persistent link: https://www.econbiz.de/10005043105
This paper investigates one of the most important financial issues arising from a secession or a country partioning, namely the sharing of the national public debt. Extending Dreze's distributive neutrality condition, we use the generational accounting technique and propose a dynamic...
Persistent link: https://www.econbiz.de/10005008265
This paper investigates one of the most important financial issues arising from a secession or a country partitioning, namely the sharing ot the national public debt. Extending Dreze's distributive neutrlaity condition, we use the generational accounting technique and propose a dynamic...
Persistent link: https://www.econbiz.de/10005669335
This paper studies the incidence of tax-transfer policy in a growth model wherein individuals differ according to their level of intergenerational altruism and have an endogenous labor supply. The main results is that public debt is neutral at the macro level but redistributes resources from...
Persistent link: https://www.econbiz.de/10005478905
I show in this paper that in an overlapping generations economy with production à la Diamond (1970) in which the agents can only save in terms of capital (i.e. with no asset bubbles à la Tirole (1985) or public debt as in Diamond (1965)), there is a period-by- period balanced fiscal policy...
Persistent link: https://www.econbiz.de/10005042963
tend to rely more heavily on private schooling. We develop a theory which integrates private decision on education and … fertility with voting on public education expenditures. The theory is able to account for the facts mentioned above. Countries …
Persistent link: https://www.econbiz.de/10005043349
This paper analyses a growth model wherein saving results from bequestas-consumption. It first looks at the market equilibrium and at the optimal solution. Then it turns to the issue of decentralizing the optimal solution with various taxes and transfers. Depending on the available instruments,...
Persistent link: https://www.econbiz.de/10005008268
In this paper we develop a three-period overlapping generations model in which individual decisions about education are the engine of growth. In this setting, it is first shown that an education subsidy combined with a hunJrsum redistribution from adults to retirees makes it possible to reach...
Persistent link: https://www.econbiz.de/10005008362
This paper analyses a growth model wherein saving results from bequest-as-consumption. It first looks at the market equilibrium and at the optimal solution. Then it turns to the issue of decentralizing the optimal solution with various taxes and transfers. Depending on the available instruments,...
Persistent link: https://www.econbiz.de/10005669223