countercyclical transfer payments. Consolidation in response to the debt has come primarily through adjustments to taxes and possibly …

using a multivariate Fiscal Taylor Rule. Adjustments to taxes and purchases both account for a large portion of the fiscal … response to debt, while authorities seem reluctant to adjust transfers. As expected, taxes are highly procyclical; purchases …

of the current welfare state systems - where welfare services are financed predominantly out of general taxes - people … the existing array of taxes, and another system in which the public-sector expenditures on welfare services are financed … accounts, but these redistributions would be constrained to be of the balanced-budget variety: total (economy-wide) taxes on …

show that people do care about fairness in their demand for redistribution. In this article, in the spirit of the new … behavior over redistribution as the interaction between (a) an automatic cognitive process which quickly generates intuitions … on the fair level of redistribution, (b) a rational self-oriented reasoning which controls the feeling of guilt …

and unskilled workers; sector-specific consumption taxes and profit taxes to affect inter-sectoral wage inequality; sector … that the re-distributional and efficiency effects of these instruments differ very much. Probably the most potent …

taxes or subsidies decline as international tax competition intensifies. Second, lobbying activities of certain interest …