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Distribution of Natural Resources, Entrepreneurship, and Economic Development: Growth Dynamics with two Elites
Falkinger, Josef; Grossmann, Volker - CESifo - 2005
entrepreneurial elite, resulting in economic policy and institutions which are more conducive to entrepreneurship and productivity … other natural resources determines structural change and economic development. A more equal distribution of natural … earned in the primary goods sector. Second, by shifting the distribution of political power from resource owners towards the …
Persistent link: https://www.econbiz.de/10005765922
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Aid, Growth and Devolution
Lessmann, Christian; Markwardt, Gunther - 2021
This paper examines whether the federal structure of aid-receiving countries matters in explaining aid effectiveness. Following the decentralization theorem, the devolution of powers should increase aid effectiveness, since local decision-makers are better informed about local needs. At the same...
Persistent link: https://www.econbiz.de/10013316311
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Did Austerity Cause Brexit?
Fetzer, Thiemo - 2018
Did austerity cause Brexit? This paper shows that the rise of popular support for the UK Independence Party (UKIP), as the single most important correlate of the subsequent Leave vote in the 2016 European Union (EU) referendum, along with broader measures of political dissatisfaction, are...
Persistent link: https://www.econbiz.de/10012910997
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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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Inequality, Public Wealth, and the Federal Shareholder
Corneo, Giacomo - 2016
Current trends in the distribution of wealth trigger a social divide and threaten democracy. I propose to counter this … requires two novel institutions: a socially responsible Sovereign Wealth Fund and a Federal Shareholder. This paper offers an …
Persistent link: https://www.econbiz.de/10012992603
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Balanced Budget Rules and Fiscal Outcomes : Evidence from Historical Constitutions
Asatryan, Zareh - 2016
be conditional on the quality of democratic institutions. In addition, we implement an instrumental variable approach by …
Persistent link: https://www.econbiz.de/10012989524
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Successful Fiscal Adjustments - Does Choice of Fiscal Instrument Matter?
Holden, Steinar; Midthjell, Nina - 2021
We examine fiscal adjustment episodes in 24 OECD countries in order to find how austerity affects debt and growth, and whether the choice of fiscal instrument matters for the results. Influential existing studies argue that spending cuts are more likely to successfully reduce debt and enhance...
Persistent link: https://www.econbiz.de/10013315701
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Cross-Border Effects of Fiscal Consolidations : Estimates Based on Narrative Records
Hebous, Shafik; Zimmermann, Tom - 2021
We estimate cross-border spillover effects of fiscal consolidation episodes on output, bilateral trade flows, interest rate, and the exchange rate, employing the new IMF action-based fiscal consolidation data. Results indicate a negative effect of foreign fiscal consolidation policies on...
Persistent link: https://www.econbiz.de/10013315746
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Political Institutions and Income (Re-)Distribution : Evidence from Developed Economies
Feld, Lars P.; Schnellenbach, Jan - 2021
We discuss the effect of formal political institutions (electoral systems, fiscal decentralization, presidential and … parliamentary regimes) on the extent and direction of income (re-)distribution. Empirical evidence is presented for a large sample … are associated with a less equal distribution of disposable incomes, while electoral systems have no significant effects …
Persistent link: https://www.econbiz.de/10013315720
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Growth and Volatility of Tax Revenues in Latin America
Fricke, Hans - 2011
Against the background of a notoriously high macroeconomic instability and the need to raise tax revenues to meet the demands of public spending, this paper analyzes the tradeoff between growth and volatility of tax revenues in Latin America. We use a two-step Engle-Granger-type model to...
Persistent link: https://www.econbiz.de/10013130748