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Two equivalence theorems for government finance
Yu, Dahai - Federal Reserve Board (Board of Governors of the … - 1998
This paper studies the effects of a path change in government debt composition and aggregate transfers on allocations and prices. It is shown that the effects are zero under some agent-specific transfer scheme even when markets are incomplete. If markets are complete, then the effects are zero...
Persistent link: https://www.econbiz.de/10005368245
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The importance of raising national saving : a speech at the Benjamin Rush Lecture, Dickinson College, Pennsylvania, March 2, 2005
Gramlich, Edward M. - Federal Reserve Board (Board of Governors of the … - 2005
Persistent link: https://www.econbiz.de/10010725352
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State and local finances and the macroeconomy: the high-employment budget and fiscal impetus
Follette, Glenn; Kusko, Andrea; Lutz, Byron - Federal Reserve Board (Board of Governors of the … - 2009
We examine the interplay of the economy and state and local budgets by developing and examining two measures of fiscal policy: the high-employment budget and fiscal impetus. We find that a 1 percentage point increase in cyclical GDP results in a 0.1 percentage point increase in NIPA-based net...
Persistent link: https://www.econbiz.de/10004965407
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The importance of raising national saving : a speech at the Benjamin Rush Lecture, Dickinson College, Pennsylvania, March 2, 2005
Gramlich, Edward M. - Federal Reserve Board (Board of Governors of the … - 2005
Persistent link: https://www.econbiz.de/10005390118
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Assessing the productivity of public capital with a locational equilibrium model
Rudd, Jeremy B. - Federal Reserve Board (Board of Governors of the … - 2000
This paper employs Roback's locational-equilibrium model of public-goods pricing, cross-sectional data from the Census … of Population and Housing, and SMSA-level estimates of public capital stocks in order to examine the productive … contribution of public capital. I find that public capital has a small positive impact on private output. …
Persistent link: https://www.econbiz.de/10005393921
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Fiscal policy in the United States: automatic stabilizers, discretionary fiscal policy actions, and the economy
Follette, Glenn; Lutz, Byron - Federal Reserve Board (Board of Governors of the … - 2010
We examine the effects of the economy on the government budget as well as the effects of the budget on the economy. First, we provide measures of the effects of automatic stabilizers on budget outcomes at the federal and state and local levels. For the federal government, the deficit increases...
Persistent link: https://www.econbiz.de/10008643758
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A holistic approach to the management of electrical assets within an Australian supply utility
Brown, Colin - University of Western Sydney; Sydney Graduate School of … - 2005
Asset-rich organisations (utilities) within Australia have entered into an era of environmental change, imposed largely by successive Federal and State Governments wanting to exact financial returns from these State Owned Corporations (SOCs). These changes have created a shift in the paradigms...
Persistent link: https://www.econbiz.de/10009482022
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Productivity and the public capital stock: another look
Rubin, Laura S. - Federal Reserve Board (Board of Governors of the … - 1991
Persistent link: https://www.econbiz.de/10005427828
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Sovereign lending gone wrong : who bears the costs?
Schraner, Ingrid; Emerging Financial Markets and … - University of Western Sydney; University of Western Sydney; … - 2004
This exploratory issue paper begins with a statement by Joseph Stiglitz, Nobel Laureate in Economic Sciences, which outlines what a well-functioning global financial system would achieve, followed by his dry statement that the current global financial system does none of these things. The paper...
Persistent link: https://www.econbiz.de/10009482147
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Global versus country-specific productivity shocks and the current account
Glick, Reuven; Rogoff, Kenneth - Federal Reserve Board (Board of Governors of the … - 1993
For G-7 countries over the period 1961-1990, there appears to be a strong and stable negative correlation between annual changes in the current account and investment. Here we explore this correlation using a highly tractable empirical model that distinguishes between global and country-specific...
Persistent link: https://www.econbiz.de/10005712792