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Unsustainable levels of debt for some European economies is causing enormous strain in the Euro area. How to tide over the debt crisis seems to be the most important objective the European policy makers are currently facing. We use a dynamic general equilibrium closed economy model to compute...
Persistent link: https://www.econbiz.de/10011258427
Using the simple arithmetic of government budget constraint, we perform an analysis on the Italian case, investigating the consequences on the main public finance aggregates of the adoption of a fiscal policy rule responding to past real debt/GDP ratio. Such a rule, firmly grounded in the...
Persistent link: https://www.econbiz.de/10005260291
Nigeria was incorporated in 1914 when Frederick Lugard(First Governor-General) amalgamated the two British protectorates of Northern and Southern Nigeria and the Crown colony of Lagos into a single entity. The primary reason for almalgamation was economic rather than political. It is therefore,...
Persistent link: https://www.econbiz.de/10005835516
The proposals of the Commission to review the Constitution of Romania were subject to the analysis of experts from the …
Persistent link: https://www.econbiz.de/10011234835
principle of gender equality is firmly established in the Indian Constitution, translating de jure gender equality and the … years. There is still unfortunately a wide gap between the goals enunciated in the Constitution, legislation and policies …
Persistent link: https://www.econbiz.de/10011258580
are included in the fundamental act, as well as other legal acts inferior to the Constitution, that are meant to develop … the rules as principles from the Constitution. Given its importance and complexity, local public administration has a vast …
Persistent link: https://www.econbiz.de/10011107589
The United States Constitution is one of the most important documents in the history because it has set an example of a … have been built upon the constitution. Despite its importance, this paper shows that the US constitution has many … compare the US constitution with the theoretical equilibrium political structure. The results of the comparison are very …
Persistent link: https://www.econbiz.de/10011112150
This note considers the foundations of the Federal Reserve Board's independence. Its origins are shown to reside in the American political philosophy, under which independence is an essential working condition for a perennial democracy.
Persistent link: https://www.econbiz.de/10008548827
this process) on the "extent" of "democratic restraints" of the socially preferred constitution and on the welfare derived … effect on the level of democracy of the socially preferred constitution and on social welfare. Moreover, it is proved that …, reaches the maximum possible level, only if political communication is "perfect". That is, the socially preferred constitution …
Persistent link: https://www.econbiz.de/10008549602
This paper describes institutions of direct democracy between 1997 and 2003 in 26 Swiss cantons (states), specifically the statutory initiative and referendum, the constitutional initiative, and the fiscal referendum. In particular, it discusses their applications, but also the legal...
Persistent link: https://www.econbiz.de/10005039975