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The paper emphasizes the role of institutions and incentives in the presence of externalities. An economy with multiple … effective institutions exist for overcoming coordination failure. External financing may weaken incentives for adjustment over … that strengthen incentives to provide effort. Uncertainty regarding future taxes reduces present effort and the …
Persistent link: https://www.econbiz.de/10014396155
The purpose of this paper is to analyze the argument that debt relief would increase the incentive of a debtor country to make an adjustment effort (to invest) and that for this reason creditors may benefit by granting relief. It is shown that there are actually opposing incentive effects of...
Persistent link: https://www.econbiz.de/10014396170
This background paper describes five different tools that can be used for the assessment of tax incentives by … framework for assessment. Evaluations of the various costs and benefits of tax incentives are vital for informed decision making … light on the implications of tax parameters - including targeted tax incentives - on investment returns and help understand …
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Inflation-forecast targeting is state of the art for monetary policy. This book explores first principles, including managing short-term policy trade-offs. The book also outlines efficient operational procedures and reviews the experiences of Canada, the Czech Republic, and India. The analysis...
Persistent link: https://www.econbiz.de/10011874333
This paper examines the extent to which conclusions of cross-country studies of private savings are robust to allowing for the possible heterogeneity of savings behavior across countries and the inclusion of dynamics. It shows that neglecting heterogeneity and dynamics can lead to misleading...
Persistent link: https://www.econbiz.de/10014400163
Government spending plays a critical role in protecting and enforcing rights and civil liberties. Empirical evidence for a sample of industrial and developing countries shows that government expenditures on defense, law and order, social security, education, and health care are associated with...
Persistent link: https://www.econbiz.de/10014400244