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Calmfors, Lars; Wren-Lewis, Simon - 2011

The paper analyses theoretically what role fiscal councils could play and surveys empirically the activities of existing councils. Case studies of the Swedish Fiscal Policy Council and the UK Office for Budget Responsibility are done. It is concluded that fiscal councils should be advisory,...

Persistent link: https://www.econbiz.de/10009011182

Proprietary public finance : on its emergence and evolution out of anarchy

Skaperdas, Stergios - 2011

finance, however, is comparatively scarce. I argue that proprietary rule emerges out of anarchy and its main alternative …

Persistent link: https://www.econbiz.de/10009153844

The impact of changes in second pension pillars on public finances in central and Eastern Europe

Égert, Balázs - 2012

This paper studies the impact of recent changes in second pension pillars of three Central and Eastern European Countries. The paper seeks to answer the following questions: i) what is the impact on the sustainability of Poland's pension system of the decrease in the pension contribution going...

Persistent link: https://www.econbiz.de/10009533961

The Swedish fiscal policy council : watchdog with a broad remit

Calmfors, Lars - 2012

The Swedish Fiscal Policy Council (FPC) set up in 2007 is one example of the recent international trend to create independent fiscal watchdogs. The FPC has established itself as an important participant in the Swedish economic policy discussion. The FPC has small resources and a broad remit...

Persistent link: https://www.econbiz.de/10009488889

Aging, social security design, and capital accumulation

Dedry, Antoine; Onder, Harun; Pestieau, Pierre - 2015

This paper analyzes the impact of aging on capital accumulation and welfare in a country with a sizable unfunded social security system. Using a two-period overlapping generation model with potentially endogenous retirement decisions, the paper shows that the type of aging, i.e. declining...

Persistent link: https://www.econbiz.de/10011392492

An alternative conditional asymmetry specification for stock returns

Brännäs, Kurt; Nordman, Niklas - 2001

The paper advances the log-generalized gamma distribution as a suitable generator of conditional skewness. Based on the NYSE composite daily returns an asMA-asQGARCH model along with skewness dynamics is estimated. The results indicate a skewness that varies between sizeable negative skewness...

Persistent link: https://www.econbiz.de/10011398115

Fiscal transfers and fiscal sustainability

Potrafke, Niklas; Reischmann, Markus - 2014

We examine whether US and German state governments pursue sustainable fiscal policies taking into account fiscal transfers. Using panel data techniques we investigate whether the debt-to-GDP ratio had a positive influence on the primary surplus (Bohn-model). We show that including/excluding...

Persistent link: https://www.econbiz.de/10010260027

Public choice and public finance : a survey

Blankart, Charles B. - 2016

The paper highlights the origins of Public Choice as a descendant of Public Finance. …

Persistent link: https://www.econbiz.de/10011444481

Social planning and economic coercion

Hintermann, Beat; Rutherford, Thomas F. - 2014

We develop a theory of social planning with a concern for economic coercion, which we define as the difference between consumers' actual utility, and the "counterfactual" utility they expect to obtain if they were able to set policy themselves. Reasons to limit economic coercion include...

Persistent link: https://www.econbiz.de/10010426057

The economics of insurance, its borders with finance and implications for systemic regulation

Thimann, Christian - 2015

international finance is "what is insurance and where does insurance end?" This paper aims to elaborate on the economics of … insurance and its borders with general finance. It argues that the classification challenge by regulators partly stems from … terminological confusion between insurance activities and more general financial activities. Insurance and finance both use the same …

Persistent link: https://www.econbiz.de/10010479958