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Commitment vs. Discretion in Climate and Energy Policy
Habermacher, Florian - 2017
To decarbonize the power sector policy-makers need to commit to long-term credible rules for climate and energy policy. Otherwise, time-inconsistent policy-making will impair investments into low-carbon technologies. However, the future benefits and costs of decarbonization are subject to...
Persistent link: https://www.econbiz.de/10012960475
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Ageing, Government Budgets, Retirement, and Growth
Gonzalez-Eiras, Martín - 2011
We analyze the short and long run effects of demographic ageing - increased longevity and reduced fertility - on per-capita growth. The OLG model captures direct effects, working through adjustments in the savings rate, labor supply, and capital deepening, and indirect effects, working through...
Persistent link: https://www.econbiz.de/10013129861
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Government Budget Deficits in Large Open Economies
Buiter, Willem H. - 2011
Large and growing levels of public debt in the United States, United Kingdom, Japan and the Euro Area raise new interest in the cross-country effects of a large open economy's deficits. We consider a dynamic optimizing model with costly tax collection and exogenously given public spending and...
Persistent link: https://www.econbiz.de/10013124182
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Dynasties and the Political Budget Cycle
Daniele, Gianmarco - 2017
Families often play a significant role in representative democracies. In this paper, we test the extent to which dynastic and non-dynastic leaders differ in their policy making. Our empirical analysis focuses on local politics in Italy, using a large sample of mayors and mayoral candidates in...
Persistent link: https://www.econbiz.de/10012964778
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The EU Budget Dispute - A Blessing in Disguise?
Schneider, Ondrej - 2007
This paper analyses the European budget and the position of the ten new member states. We argue that the EU budget … should be reconsidered, as the Union has expanded to 27 member states and has become more heterogeneous. The budget … that the current EU budget setting is, at best, neutral with respect to the EU-wide long-term growth potential and may …
Persistent link: https://www.econbiz.de/10012776902
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The Scandinavian Model - Prospects and Challenges
Andersen, Torben M. - 2007
Scandinavian countries are often portrayed in policy debates as model examples having shown how to square concerns for efficiency and equity. The core principle of the Scandinavian welfare model is an individual entitlement to public sector provisions combined with collective financing via...
Persistent link: https://www.econbiz.de/10012777727
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Time Consistency and Bureaucratic Budget Competition
Kessing, Sebastian G. - 2006
the strategic effects of their hiring decisions on budget allocation …
Persistent link: https://www.econbiz.de/10012779343
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Balanced Budget Rules and Fiscal Outcomes : Evidence from Historical Constitutions
Asatryan, Zareh - 2016
This paper studies the long-run fiscal consequences of balanced budget rules (BBR) that are enshrined in a country … instrumenting the probability of having budget rules on de jure constraints on changing the constitution. This and other tests …
Persistent link: https://www.econbiz.de/10012989524
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Spend-and-Tax Adjustments and the Sustainability of the Government's Intertemporal Budget Constraint
Legrenzi, Gabriella Deborah; Milas, Costas - 2021
’s intertemporal budget constraint. Our empirical analysis, based on Italy, shows that the Italian government is meeting its … intertemporal budget constraint, in spite of the high levels of public debt. Nevertheless, the burden of correcting budgetary …
Persistent link: https://www.econbiz.de/10013316265
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Demographic Change and Public Sector Budgets in a Federal System
Hofmann, Michael; Kempkes, Gerhard; Seitz, Helmut - 2021
This paper examines the effects of demographic change on public finances in a federal system. We develop a simple methodical procedure to measure the effect of demographic changes on public revenues and expenditures. We apply our method to the local, state and federal government sector as well...
Persistent link: https://www.econbiz.de/10013316520