Similar Search Results

How does Risk Selection Respond to Risk Adjustment? Evidence from the Medicare Advantage Program

Brown, Jason - 2011

Governments often contract with private firms to provide public services such as health care and education. To decrease …

Persistent link: https://www.econbiz.de/10012461681

Tax Aversion, Deficits and the Tax Rate-Tax Revenue Relationship

Waud, Roger N. - 1985

This paper offers a possible explanation for the existence of continual government budget deficits such as experienced in a number of industrialized countries in recent years. Based on the assumption that higher tax rates cause more intensive tax-aversion behavior (tax avoidance and tax...

Persistent link: https://www.econbiz.de/10012477553

Fiscal Policy and Macroeconomic Uncertainty in Developing Countries : The Tale of the Tormented Insurer

Mendoza, Enrique G. - 2006

Governments in emerging markets often behave like a "tormented insurer," trying to use non-state-contingent debt instruments to avoid cuts in payments to private agents despite large fluctuations in public revenues. In the data, average public debt-GDP ratios decline as the variability of...

Persistent link: https://www.econbiz.de/10012466076

What Has Financed Government Debt?

Chung, Hess - 2007

Dynamic rational expectations models imply that the real value of debt in the hands of the public must be equal to the expected present-value of surpluses. We impose this equilibrium condition on an identified VAR and characterize the way in which the present-value support of debt varies across...

Persistent link: https://www.econbiz.de/10012465224

Debt, Default, and Revenue Structure : The American State Debt Crisis in the Early 1840s

Grinath, Arthur, III. - 1997

During the 1820s and 1830s, American state governments made large investments in canals, banks, and railroads. In the early 1840s, nine states defaulted on their debts, four ultimately repudiated all or part of their debts, and three went through substantial renegotiations. This paper examines...

Persistent link: https://www.econbiz.de/10012472874

State Responses to Fiscal Crisis : The Effects of Budgetary Institutionsand Politics

Poterba, James M. - 1993

This paper explores how state fiscal institutions and political circumstances affect the dynamics of state taxes and spending during periods of fiscal stress. The analysis focuses on the late 1980s, when sharp economic downturns in several regions, coupled with increased expenditure demands, led...

Persistent link: https://www.econbiz.de/10012474582

Russia's Fiscal Gap

Goryunov, Eugene - 2013

Every country faces what economists call an intertemporal (across time) budget constraint, which requires that its government's future expenditures, including the servicing of its outstanding official debt, be covered by its government's future receipts when measured in present value. The...

Persistent link: https://www.econbiz.de/10012459053

Public Debt Through the Ages

Eichengreen, Barry - 2019

We consider public debt from a long-term historical perspective, showing how the purposes for which governments borrow have evolved over time. Periods when debt-to-GDP ratios rose explosively as a result of wars, depressions and financial crises also have a long history. Many of these episodes...

Persistent link: https://www.econbiz.de/10012479450

How Wide is the Scope of Hold-Up-Based Theories? Contractual Form and Market Thickness in Trucking

Hubbard, Thomas N. - 1999

How far do the contractual implications of hold-up-based theories (Klein, Crawford, and Alchian (1978), Williamson (1979, 1985)) extend? I investigate this in the context of trucking. Quasi-rents in trucking are generally smaller than in the contexts studied in the previous empirical literature....

Persistent link: https://www.econbiz.de/10012471437

The Self-Enforcing Provisions of Oil and Gas Unit Operating Agreements : Theory and Evidence

Libecap, Gary D. - 1999

-term contracts. We argue that only if the parties to a unitization contract have unit production shares that are the same as their … cost shares will the contract be incentive compatible. Using a data base of sixty unit operating agreements, we measure the … desirable contract rules for avoiding moral hazard. It also shows how the effects of those rules can be replicated in difficult …

Persistent link: https://www.econbiz.de/10012471652

1
2
3
4
5
6
7
8
9
10
Next
Last