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Democracy, credibility, and clientelism
Keefer, Philip - 2005
. Politicians can overcome their credibility deficit in two ways. First, they can build reputations. This requires that they fulfill … commitments to their clients. Endogenizing credibility in this way, the authors find that targeted transfers and corruption are …-electoral promises. They also argue that in the absence of political credibility, political reliance on patrons enhances welfare in the …
Persistent link: https://www.econbiz.de/10010522726
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Financial dollarization and central bank credibility
Cowan, Kevin - 2003
Persistent link: https://www.econbiz.de/10010523353
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Are all the sacred cows dead? : Implications of the financial crisis for macro and financial policies
Demirgüç-Kunt, Aslı - 2009
"The recent global financial crisis has shaken the confidence of developed and developing countries alike in the very blueprint of financial and macro policies that underlie the western capitalist systems. In an effort to contain the crisis from spreading, the authorities in the US and many...
Persistent link: https://www.econbiz.de/10011394101
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Populist fiscal policy
Khemani, Stuti - 2008
"Political economy explanations for fiscal profligacy are dominated by models of bargaining among organized interest groups over group-specific targeted benefits financed by generalized taxation. These models predict that governments consisting of a coalition of political parties spend more than...
Persistent link: https://www.econbiz.de/10010520997
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Refinements to the probabilistic approach to fiscal sustainability analysis
Frank, Nathaniel - 2008
"This paper relaxes some key assumptions in the probabilistic approach to fiscal sustainability. First, the authors identify structural breaks over the sample period used to estimate the covariance matrix of the shocks to the debt ratios. Second, the assumption of normality of the shocks is...
Persistent link: https://www.econbiz.de/10010521050
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The quality of fiscal adjustment and the long-run growth impact of fiscal policy in Brazil
Blanco, Fernando - 2006
"The authors describe the main trends of Brazil's fiscal policy during the past decade and analyze (1) the ability to raise the primary surplus in response to external shocks, (2) the pro-cyclical nature of fiscal policy, and (3) the long-run impact of government expenditure composition and...
Persistent link: https://www.econbiz.de/10010522058
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Incentives for public investment under fiscal rules
Mintz, Jack M. - 2006
"The authors explore the relationship between fiscal rules and capital budgeting. The current budgetary approach to limit deficits to a fixed portion of GDP or to balance budgets could undermine incentives to invest in public capital with long-run returns since politicians concerned about...
Persistent link: https://www.econbiz.de/10010522200
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Fiscal responsibility legislation and fiscal adjustment : the case of Brazilian local governments
Mello, Luiz de - 2006
"This paper discusses trends in fiscal adjustment in Brazil since the 1990s, with particular emphasis on the strengthening of institutions for fiscal policymaking, and its effect on local government finances and their ability to invest in infrastructure building and upgrading. Although fiscal...
Persistent link: https://www.econbiz.de/10010522248
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Disinflation, fiscal sustainability, and labor market adjustment in Turkey
Agénor, Pierre-Richard - 2006
rates, a dollarized banking system, and interactions between default risk on government liabilities, credibility, and … results highlight the importance of accounting for the link between default risk and credibility in understanding the real and …
Persistent link: https://www.econbiz.de/10010522256
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Fiscal decentralization and fiscal performance
Shah, Anwar - 2005
"A resurgence of recent interest in fiscal federalism has been a source of concern among macroeconomic stabilization experts. They argue that a decentralized fiscal system poses a threat to macroeconomic stability as it is incompatible with prudent monetary and fiscal management. The author...
Persistent link: https://www.econbiz.de/10010522414