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Tax-Benefit Systems in Europe and the US : Between Equity and Efficiency

Bargain, Olivier - 2011

Whether observed differences in redistributive policies across countries are the result of differences in social preferences or efficiency constraints is an important question that paves the debate about the optimality of welfare regimes. To shed new light on this question, we estimate labor...

Persistent link: https://www.econbiz.de/10013121865

Is Norway's Bird-in-Hand Stabilization Fund Prudent Enough? Fiscal Reactions to Hydrocarbon Windfalls and Graying Populations

Harding, Torfinn - 2014

We estimate fiscal reaction functions for non-hydrocarbon tax and public spending shares of national income and for debt management strategies adopted by Norway and compare these with rules that would prevail under the permanent income hypothesis and bird-in-hand rule. We conclude that the...

Persistent link: https://www.econbiz.de/10013070656

Revenue Forecasting Practices : Differences Across Countries and Consequences for Forecasting Performance

Buettner, Thiess - 2009

This paper reviews the practice and performance of revenue forecasting in selected OECD countries. While the mean forecast errors are small in most countries, the precision of the forecasts measured by the standard deviation of the forecast error differs substantially across countries. Based on...

Persistent link: https://www.econbiz.de/10013160436

Harnessing Windfall Revenues : Optimal Policies for Resource-Rich Developing Economies

van der Ploeg, Rick - 2009

A windfall of natural resource revenue (or foreign aid) faces government with choices of how to manage public debt, investment, and the distribution of funds for consumption, particularly if the windfall is both anticipated and temporary. We show that the permanent income hypothesis prescription...

Persistent link: https://www.econbiz.de/10012764524

Incentive Effects of Fiscal Rules on the Finance Minister's Behaviour : Evidence from Revenue Projections in Swiss Cantons

Chatagny, Florian - 2015

Predicting available tax revenue accurately is a key step of fiscal policy. It has recently been shown that revenue projection errors have a direct impact on fiscal deficits. In this paper, we explore the relationship between the ideology of the finance minister and tax revenue projection...

Persistent link: https://www.econbiz.de/10013026676

How Large are Global Energy Subsidies?

Coady, David P. - 2016

This paper estimates fossil fuel subsidies and the economic and environmental benefits from reforming them, focusing mostly on a broad notion of subsidies arising when consumer prices are below supply costs plus environmental costs and general consumption taxes. Subsidies are $4.9 trillion...

Persistent link: https://www.econbiz.de/10012994355

Revenue for EMU : A Contribution to the Debate on Fiscal Union

Iara, Anna - 2016

In the wake of the euro area crisis, the debate on instruments to deepen economic integration among its members has intensified, among others putting forward a fiscal stabilization capacity for EMU members. Contributions made so far to further this idea have mostly concentrated on the...

Persistent link: https://www.econbiz.de/10012994790

Mobilizing VAT Revenues in African Countries

Cnossen, Sijbren - 2014

Several African countries have to increase their tax revenues to finance human and economic development. General consumption taxes, such as VATs, are the preferred instrument for doing so, because they are less detrimental to growth than income taxes. To enable their use, VAT design has to be...

Persistent link: https://www.econbiz.de/10013040005

Information Markets, Elections and Contracts

Gersbach, Hans - 2011

Politicians may pander to public opinion and may renounce undertaking beneficial long-term projects. To alleviate this problem, we introduce a triple mechanism involving political information markets, reelection threshold contracts, and democratic elections. An information market is used to...

Persistent link: https://www.econbiz.de/10013130416

Flexible Contracts

Gottardi, Piero - 2012

requires the use of an appropriate incentive contract so as to realign his interests with those of the principal. The parties … of the optimal flexible contract both when the parties have sharp probabilistic beliefs over the possible events in which … risk aversion, the higher the agency costs for delegation and hence the less profitable is a flexible contract versus a …

Persistent link: https://www.econbiz.de/10013116425