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Climate change mitigation strategies in fast-growing countries : the benefits of early action
Bosetti, Valentina; Carraro, Carlo; Tavoni, Massimo - 2009
investment behaviour is to anticipate the implementation of a climate policy by roughly 10 years. Investing in innovation ahead …
Persistent link: https://www.econbiz.de/10010266005
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Survey-Based Structural Budget Balances
Göttert, Marcell; Wollmershaeuser, Timo - 2021
The budget dispute between Italy and the European Commission in 2018 gave new impetus for the debate about the reliability of output gap estimation methods and their use for calculating structural budget balances. In this paper we review the main properties of the mainstream approaches and...
Persistent link: https://www.econbiz.de/10013243245
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Fiscal Sustainability, Fiscal Reactions, Pitfalls and Determinants
Afonso, António; Coelho, José Carlos - 2022
We examine the sustainability of public finances and its determinants for 19 Eurozone countries from 1995 to 2020. We conclude for the existence of panel cointegration between government revenues and expenditures; primary government balance and one-period lagged public debt-to-GDP ratio; and...
Persistent link: https://www.econbiz.de/10013296248
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Fiscal Reform in Spanish Municipalities : Gender Differences in Budgetary Adjustment
Hayo, Bernd; Garcia, Israel - 2023
Do gender differences matter for politicians’ budgetary behaviour when confronted with an exogenous change in the institutional framework? After the 2013 Spanish municipal reform, municipalities with more than 20,000 inhabitants were no longer responsible for managing the provision of social...
Persistent link: https://www.econbiz.de/10014259689
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The Dynamic Response of Municipal Budgets to Revenue Shocks
Helm, Ines; Stuhler, Jan - 2021
We study the fiscal and tax response to intergovernmental grants, exploiting quasi-experimental variation within Germany’s fiscal equalization scheme triggered by Census revisions of official population counts. Municipal budgets do not adjust instantly. Instead, spending and investments adapt...
Persistent link: https://www.econbiz.de/10013226850
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The irreversibility premium
Chirinko, Robert S.; Schaller, Huntley - 2008
When investment is irreversible, theory suggests that firms will be "reluctant to invest." This reluctance creates a … wedge between the discount rate guiding investment decisions and the standard Jorgensonian user cost (adjusted for risk). We …
Persistent link: https://www.econbiz.de/10010264335
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Incomplete property rights and overinvestment
Amegashie, J. Atsu - 2009
encroacher's valuation of the asset is increasing in the asset owner's investment. Due to incomplete property rights, the … encroacher and asset owner engage in a contest over the control of the asset after investment has taken place. A standard result … is that the asset owner will underinvest in the asset relative to the first-best level of investment when property rights …
Persistent link: https://www.econbiz.de/10010265975
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A growth oriented dual income tax
Keuschnigg, Christian; Dietz, Martin D. - 2005
demonstrates the neutrality properties of the reform with respect to investment, firm financial decisions and organizational choice …. Tax rates are chosen to prevent income shifting from labor to capital income. The reform decisively strengthens investment …
Persistent link: https://www.econbiz.de/10010271071
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The impact of dividend taxation on dividends and investment : new evidence based on a natural experiment
Kari, Seppo; Karikallio, Hanna; Pirttilä, Jukka - 2009
There is a lack of clear evidence of the ways in which dividend taxation affects dividend distributions and investment …
Persistent link: https://www.econbiz.de/10010271176
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Product market competition, investment and employment-abundant versus job-poor growth : a real options perspective
Chen, Yu-Fu; Funke, Michael - 2005
The role of product market reforms in achieving the objective of higher employment and growth has recently received much attention amongst academics. The aim of this paper is to analyse some of the channels through which cross-market effects come about and to assess their policy relevance. The...
Persistent link: https://www.econbiz.de/10010271923