Abstract: This paper discusses the fiscal policy reactions and economic policies of European countries and the United States during the Great Depression. Economic as well as economic history literature has tended to overlook the fiscal policy aspects of the Great Depression, in particular in...

The paper presents a fiscal indicator that uses the fiscal situation of the previous year as a benchmark. Different revenue and expenditure items have their own of rules by which the cyclical and discretionary changes are determined. An important step in constructing the new indicator is the...

This paper deals with the fiscal behaviour of governments in the 1920s and 1930s. The intention is to see whether there were the same features in government behaviour as in the post-World War II era. In particular, attention is paid to asymmetric fiscal policies, ie the question of whether...

The paper presents small scale CGE models designed to analyze the double dividend problem i.e. the simultaneous improvement of efficiency and environment through a revenue neutral tax reform. We show that in a one factor model with leisure weakly separable from consumption, a double dividend in...

The paper is structured in two parts. The first one analyses the proposals of the European Commission concerning the reform of the European Union policies and the Eastern enlargement, set out in Agenda 2000. The second addresses the impacts of the Eastern enlargement to Portugal. The paper...

We examine the determinants that shape the spending preferences of public sector employees on several budgetary appropriations. Following Niskanen?s (1971, 1975, 1994) budget maximising theory, we test whether these employees prefer larger budgetary appropriations rather than less. We measure...

This paper tries to assess fiscal policy rules in the OECD countries. In particular, we examine whether the EU/EMU countries have had the same rule in terms of the cyclical situation. The analysis is based on a simple VAR model for output growth, inflation and a fiscal indicator. Empirical...

Computable general equilibrium (CGE) models require external parameters for proper estimations and can be relatively sensitive to the elasticity estimates used in them. We estimate LES demand elasticities and Frisch parameters for all Finnish household income deciles. These estimates will be...

Applied general equilibrium models have become a standard tool for the analysis of structural policies in many countries and international research organisations. Their use has been prompted by both developments in economics, but also on the growing need for quantitative policy analysis. The...

In this study we use the dynamic version of the GTAP model to analyse the effects of global trade policy changes and their interaction with different global climate policy regimes from Finland?s point of view, and in particular, implications for Finnish export sectors. Scenarios explore further...