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fairness and redistributional choices. A fortune reversal is generally perceived to be fair behind a thick VOI, but deemed … exists between the perception of fairness and the certainty levels about social position. A 50-50 split is preferred with …
Persistent link: https://www.econbiz.de/10010388830
contributing to the public good. The model combines a follower's concern for fairness and informational signaling about …
Persistent link: https://www.econbiz.de/10011573862
unpleasant policy choices. -- emotions ; political economics ; unrest ; riots ; fairness ; public debt ; procrastination …This paper formulates a general theory of how political unrest influences public policy. Political unrest is motivated … by emotions. Individuals engage in protests if they are aggrieved and feel that they have been treated unfairly. This …
Persistent link: https://www.econbiz.de/10009722397
We use a panel of 21 OECD countries from 1970 to 2009 to investigate the effects of different fiscal adjustment strategies on long-term interest rates - a key fiscal indicator reflecting the costs of government debt service. A government confronted with high deficits and rising debt will sooner...
Persistent link: https://www.econbiz.de/10008807633
The controversy about sovereign debt cuts loomed prominently throughout crisis in the European Union (EU), as the EU legal rules were viewed to impose strict limitations on debt restructuring involving public creditors due to moral hazard concerns enshrined in the legal ban on bailouts. This...
Persistent link: https://www.econbiz.de/10012026346
I use new data on central and general governments for 23 OECD countries over the period 1960-2015 (unbalanced panel) to examine fiscal performance under minority governments. The results do not suggest that minority governments had higher fiscal deficits and public expenditure than majority...
Persistent link: https://www.econbiz.de/10012031110
Persistent link: https://www.econbiz.de/10003641752
The contribution Bach, Corneo, and Steiner (2008) has argued that the richʺ do not pay taxes adequately in relation to their income, finding, for instance, an effective tax rate of only 38.1% for the 0.001% fractile of German income taxpayers in 2001. This result contrasts sharply with the...
Persistent link: https://www.econbiz.de/10003791779
This paper examines whether policymakers, economists at the Israeli Finance Ministry, act in their personal pension decisions in accordance with the rational behaviour assumptions underlying the pension policies they advance. We find that while economists' decisions regarding three other...
Persistent link: https://www.econbiz.de/10003883889
Using a new data set on Swiss state and local governments from 1890 to today, we analyze how the adoption of proportional representation affects fiscal policy. We show that proportional systems shift spending toward broad goods (e.g. education and welfare benefits) but decrease spending on...
Persistent link: https://www.econbiz.de/10003938710