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De facto fiscal space and fiscal stimulus: Definition and assessment

Aizenman, Joshua; Jinjarak, Yothin - 2010

We define the notion of 'de facto fiscal space' of a country as the outstanding public debt relative to the de facto tax base, where the latter measures the realized tax collection, averaged across several years to smooth for business cycle fluctuations. We apply this concept to account for the...

Persistent link: https://www.econbiz.de/10010287767

Financial sector ups and downs and the real sector: Big hindrance, little help

Aizenman, Joshua; Pinto, Brian; Sushko, Vladyslav - 2011

We examine how financial expansion and contraction cycles affect the broader economy through their impact on 8 real economic sectors in a panel of 28 countries over 1960-2005, paying particular attention to large, or sharp, contractions and magnifying and mitigating factors. Overall, the...

Persistent link: https://www.econbiz.de/10010288126

De facto fiscal space and fiscal stimulus: Definition and assessment

Aizenman, Joshua; Jinjarak, Yothin - 2010

We define the notion of 'de facto fiscal space' of a country as the inverse of the outstanding public debt relative to the de facto tax base, where the latter measures the realized tax collection, averaged across several years to smooth for business cycle fluctuations. We apply this concept to...

Persistent link: https://www.econbiz.de/10010288141

The impact of tax morale and institutional quality on the shadow economy

Schneider, Friedrich; Torgler, Benno - 2007

This paper analyses how tax morale and countries’ institutional quality affect the shadow economy, controlling in a multivariate analysis for a variety of potential factors. The literature strongly emphasizes the quantitative importance of these factors to understand the level and changes of...

Persistent link: https://www.econbiz.de/10010294508

Shadow economy, tax morale, governance and institutional quality: A panel analysis

Schneider, Friedrich; Torgler, Benno - 2007

This paper analyses how governance or institutional quality and tax morale affect the shadow economy, using an international country panel and also within country data. The literature strongly emphasizes the quantitative importance of these factors to understand the level and changes of shadow...

Persistent link: https://www.econbiz.de/10010294548

Political Particularism around the World

Wallack, Jessica Seddon; Gaviria, Alejandro; Panizza, Ugo; … - 2002

This paper presents a new dataset on electoral systems and outlines its potential uses in further research exploring the connections between electoral systems and economic outcomes. The dataset provides indicators of the degree to which individual politicians can further their careers by...

Persistent link: https://www.econbiz.de/10010327167

Understanding Financial Crises: Causes, Consequences, and Policy Responses

Claessens, Stijn; Kose, M. Ayhan; Laeven, Luc; … - 2013

The global financial crisis of 2007-09 has led to an intensive research program analyzing a wide range of issues related to financial crises. This paper presents a summary of a forthcoming book, Financial Crises: Causes, Consequences, and Policy Responses, that includes 19 contributions...

Persistent link: https://www.econbiz.de/10010500233

National and international developments in technology – Trends, patterns and implications for policy

Koopmann, Georg; Münnich, Felix - 1999

Declining R&D intensities at the national level coincide with growing international technological links. Deviations of individual OECD countries from the average R&D intensity reflect differences in industry structure as well as in sectoral R&D intensity. At the same time, the sectoral...

Persistent link: https://www.econbiz.de/10010295338

Locating foreign affiliates in Germany: The case of Swedish MNEs

Braconier, Henrik; Ekholm, Karolina - 2001

schwedischer Tochtergesellschaften in Deutschland im Vergleich mit denen in anderen Ländern untersucht. Es zeigt sich, dass die … Multis, in Deutschland zu investieren. Dabei zeigt sich, dass die Standortentscheidung beeinflusst wird vom Niveau der … Lohnkosten in Deutschland und an anderen potentiellen Standorten in europäischen Hocheinkommensländern, aber nicht von den …

Persistent link: https://www.econbiz.de/10010295592

History matters in microfinance

Seibel, Hans Dieter - 2003

Microfinance is not a recent development, and neither is the development of regulation and supervision of microfinance institutions (MFIs). Every now developed country has its own history of microfinance. It is important to recognize this because it presents a view different from that of many in...

Persistent link: https://www.econbiz.de/10010297106