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On inequality and the allocation of public spending
Lahiri, Radhika; Magnani, Elisabetta - In: Economics Bulletin 5 (2008) 9, pp. 1-8
Empirical evidence on the link between inequality and redistribution mechanisms is inconclusive, and depends on the nature of the mechanism in question. We present a series of political economy models, and the associated results may be interpreted as being consistent with these facts....
Persistent link: https://www.econbiz.de/10005094652
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On inequality and the allocation of public spending
Lahiri, Radhika; Magnani, Elisabetta - In: Economics Bulletin 5 (2008) 9, pp. 1-8
Empirical evidence on the link between inequality and redistribution mechanisms is inconclusive, and depends on the nature of the mechanism in question. We present a series of political economy models, and the associated results may be interpreted as being consistent with these facts....
Persistent link: https://www.econbiz.de/10010629436
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Deficit financing in overlapping generation economies with habit persistence
Bossi, Luca; Gomis-Porqueras, Pere - In: Economics Bulletin 5 (2006) 17, pp. 1-4
In this paper, we study how deficit financing is affected by the introduction of habit formation in an otherwise standard Gale (JET, 1973) economy in which the government is a net lender and young agents are borrowing rather than saving. We find that the amount of deficit the government is able...
Persistent link: https://www.econbiz.de/10010835859
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Ricardian equivalence for sub-national states
Stone, Joe; Gray, Jo Anna - In: Economics Bulletin 5 (2006) 1, pp. 1-12
The authors test Ricardian equivalence within an endogenous growth model for U.S. states, which have high rates of migration relative to most countries. Results are consistent with both Ricardian equivalence and endogenous growth, despite the relative ease of migration. Increases in productive...
Persistent link: https://www.econbiz.de/10005094789
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Deficit financing in overlapping generation economies with habit persistence
Bossi, Luca; Gomis-Porqueras, Pere - In: Economics Bulletin 5 (2006) 17, pp. 1-4
In this paper, we study how deficit financing is affected by the introduction of habit formation in an otherwise standard Gale (JET, 1973) economy in which the government is a net lender and young agents are borrowing rather than saving. We find that the amount of deficit the government is able...
Persistent link: https://www.econbiz.de/10005094891
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The feasibility of inflation targeting in Malaysia
Poon, Wai-Ching; Tong, Gee-Kok - In: Economics Bulletin 29 (2009) 2, pp. 1035-1045
This paper aims to examine whether inflation targeting fits in Malaysia. The relationship between CPI, money supply (M1), money market rate, and exchange rate of the Malaysian economies from 1976:M1 to 2007:M12 is tested, considering the major transmission mechanism channels in the conduct of...
Persistent link: https://www.econbiz.de/10008562861
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Ricardian equivalence for sub-national states
Stone, Joe; Gray, Jo Anna - In: Economics Bulletin 5 (2006) 1, pp. 1-12
The authors test Ricardian equivalence within an endogenous growth model for U.S. states, which have high rates of migration relative to most countries. Results are consistent with both Ricardian equivalence and endogenous growth, despite the relative ease of migration. Increases in productive...
Persistent link: https://www.econbiz.de/10010629293
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Average effective tax rates on consumption for Turkey: New data and a comparative analysis
Üngör, Murat - In: Economics Bulletin 34 (2014) 1, pp. 567-580
Consumption taxes are the most important source of revenues used to finance public spending in Turkey, where the share of taxes on consumption (general and specific) is more than 40%. This study computes the average effective tax rates on consumption for Turkish economy and provides a glimpse of...
Persistent link: https://www.econbiz.de/10010755744
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On the private exchange of charitable gifts
Nocetti, Diego - In: Economics Bulletin 34 (2014) 1, pp. 73-83
The private exchange of charitable gifts (e.g. charity gift-cards) has recently become an important source of donations to charities. In this paper we study this new phenomenon using the classical model of private provision of public goods, modified to account for exchange of private gifts....
Persistent link: https://www.econbiz.de/10010734665
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Fiscal policy, economic activity and welfare: the case of Greece
Papageorgiou, Dimitris - In: Economics Bulletin 31 (2011) 3, pp. 2629-2640
social welfare in the Greek economy. The setup is a neoclassical growth model augmented with a public sector. The government … significant effects on key macroeconomic variables, as well as on social welfare. When financed by distorting taxes, increases in … government consumption hurt both output and welfare. To the contrary, a rise in public investment, when financed by consumption …
Persistent link: https://www.econbiz.de/10009293599