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We examine the investment rule that must be satisfied by an efficient and egalitarian path in a discrete-time version of the Dasgupta-Heal-Solow model of capital accumulation and resource depletion. In the discrete-time model, competitive valuation of net investments in terms of early and late...
Persistent link: https://www.econbiz.de/10012908689
Using an overlapping generations model, two new indicators of public pension system sustainability are proposed: the …
Persistent link: https://www.econbiz.de/10014347982
We assess the link between fiscal sustainability coefficients, namely the responses of the primary government balance … sustainability by positively influencing the responsiveness of the primary and global government balances; the responses of the …-relationship between the fiscal sustainability coefficients …
Persistent link: https://www.econbiz.de/10014262952
This paper explores the effects of fiscal competition on local land use. A theoretical analysis considers the tradeoff faced by a local government deciding about the amount of land made available for commercial or residential uses, when its expansion has adverse effects on the quality of life....
Persistent link: https://www.econbiz.de/10013237220
In this paper, we analyze several local referendums on land development and land-use regulation in the City of Erlangen (Germany) in the period between 2011 and 2018. To identify the positive influence of the travel distance on approval for the development of land, we employ a two-way...
Persistent link: https://www.econbiz.de/10012844203
Larger cities typically give rise to two opposite effects: tougher competition among firms and higher production costs. Using an urban model with substitutability of production factors and pro-competitive effects, I study the response of the market outcome to city size, land-use regulations, and...
Persistent link: https://www.econbiz.de/10012866551
sustainability outcomes? We approach this question by looking at the evolution of fiscal sustainability in Poland, which is an … fiscal sustainability in Poland has significantly improved in the post-crisis period of 2009-2017: we detect both improvement … of the fiscal sustainability parameters and structural breaks in the fiscal outcomes after the crisis. Namely, in …
Persistent link: https://www.econbiz.de/10012908672
In this paper, I demonstrate that an indicator which is commonly used to assess the long-term fiscal sustainability of … than the growth rate of GDP. I illustrate this finding based on simulations prepared for the Fifth Sustainability Report … sustainability, e.g., through demographic ageing …
Persistent link: https://www.econbiz.de/10013249654
We evaluate the impact of government spending efficiency on fiscal sustainability for a panel of 35 OECD countries … the input efficiency scores obtained, countries’ fiscal balance and fiscal sustainability is directly improved by the use … revenues, which also improves fiscal sustainability. Specifically, rationalising public expenditures without jeopardising the …
Persistent link: https://www.econbiz.de/10013289691
specifically on their degree of success, notably in terms of fiscal sustainability. The “need” to consolidate is based on having a … primary balance above or below the debt-stabilizing primary balance (provided by the IMF’s Debt Sustainability Analysis) for … each country. We then link the need for and the actual (historical) existence of fiscal adjustments to their sustainability …
Persistent link: https://www.econbiz.de/10013296715