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Fiscal Zoning and Sales Taxes : Do Higher Sales Taxes Lead to More Retailing and Less Manufacturing?

Burnes, Daria - 2011

We test the hypothesis that local government officials in jurisdictions that have higher local sales taxes are more likely to use fiscal zoning to attract retailing. We find that total retail employment is not significantly affected by local sales tax rates, but employment in big box and anchor...

Persistent link: https://www.econbiz.de/10012461725

Government, Openness and Finance : Past and Present

Demetriades, Panicos O. - 2010

We explore the role of government in the nexus of finance and trade starting from the earliest days of organised … finance in England and then broadening the analysis to 84 countries from 1960 to 2004. For 18th century England, we find that …

Persistent link: https://www.econbiz.de/10012462195

How Does the U.S. Government Finance Fiscal Shocks?

Berndt, Antje - 2010

We develop a method for identifying and quantifying the fiscal channels that help finance government spending shocks …

Persistent link: https://www.econbiz.de/10012462199

Shale Public Finance : Local Government Revenues and Costs Associated with Oil and Gas Development

Newell, Richard G. - 2015

Oil and gas development associated with shale resources has increased substantially in the United States, with important implications for local governments. These governments tend to experience increased revenue from a variety of sources, such as severance taxes distributed by the state...

Persistent link: https://www.econbiz.de/10012457127

Why do emerging markets liberalize capital outflow controls? Fiscal versus net capital flow concerns

Aizenman, Joshua - 2013

In this paper, we provide empirical evidence on the factors that motivated emerging economies to change their capital outflow controls in the recent decades. Liberalization of capital outflow controls can allow emerging market economies (EMEs) to reduce net capital inflow (NKI) pressures, but...

Persistent link: https://www.econbiz.de/10012459782

On Fiscal Illusion and Ricardian Equivalence in Local Public Finance

Banzhaf, H. Spencer - 2012

We re-evaluate two forms of fiscal illusion in local public finance: debt illusion and renter illusion. The Ricardian … Equivalence Theorem for local governments suggests the form of finance of a public program (tax or debt finance) has no effects on … hundreds of open space referenda in the U.S. using a variety of finance mechanisms, we find evidence that households do prefer …

Persistent link: https://www.econbiz.de/10012460619

How is Tax Policy Conducted over the Business Cycle?

Vegh, Carlos A. - 2012

It is well known by now that government spending has typically been procyclical in developing economies but acyclical or countercyclical in industrial countries. Little, if any, is known, however, about the cyclical behavior of tax rates (as opposed to tax revenues, which are endogenous to the...

Persistent link: https://www.econbiz.de/10012460906

Capitalizing China

Fan, Joseph - 2011

Despite a vast accumulation of private capital, China is not embracing capitalism. Deceptively familiar capitalist features disguise the profoundly unfamiliar foundations of "market socialism with Chinese characteristics." The Chinese Communist Party (CCP), by controlling the career advancement...

Persistent link: https://www.econbiz.de/10012460970

Measuring U.S. Fiscal Capacity using Discounted Cash Flow Analysis

Jiang, Zhengyang; Lustig, Hanno; Van Nieuwerburgh, Stijn; … - National Bureau of Economic Research - 2022

We use discounted cash flow analysis to measure a country's fiscal capacity. Crucially, the discount rate applied to projected cash flows includes a GDP risk premium. We apply our valuation method to the CBO's projections for the U.S. federal government's deficit between 2022 and 2051 and debt...

Persistent link: https://www.econbiz.de/10013190996

The Fiscal Consequences of Missing an Inflation Target

Andreolli, Michele; Rey, Hélène - National Bureau of Economic Research - 2023

The European Central Bank is unique in setting monetary policy for several sovereign states with heterogeneous debt levels and different maturity structures. The monetary-fiscal nexus is central to the functioning of the euro area. We focus on one particular aspect of that nexus, the effect the...

Persistent link: https://www.econbiz.de/10013537713