-added tax (VAT). The results indicate that a revenue-neutral uniform VAT is regressive in its impact on different households. In …

macroeconomic stability, efficiency in the use of scarce resources as well as reduced horizontal disparities. The role of central …

The paper reviews the changing nature of intergovernmental fiscal relations between the provinces and the central …

argued that expenditure ceilings are effective in promoting fiscal discipline and sustainability, but that a number of trade …This paper looks at the factors that have to be considered when designing an aggregate expenditure ceiling. It is …-offs have to be made when setting up a fiscal framework that will survive in a politically charged environment. The paper …

The fiscal performance of the States in India has been an area of concern for quite some time. The Twelfth Finance … Commission (TFC) recommended a three-pronged strategy to alleviate States' fiscal distress, built around greater orientation … toward market discipline, incentives for fiscal consolidation targets, and commitment to fiscal correction. We find that …

policy objectives, namely, protecting the budget from high revenue volatility and strengthening fiscal prospects. Evidence …This paper looks at the role Sovereign Wealth Funds have played in the Pacific Island Countries in achieving key macro-fiscal … shows that the funds' effectiveness has been hampered by lack of integration with the budget, institutional weaknesses, and …

effect of fiscal stabilizers may revert at high levels. We present evidence that for government expenditure ratios exceeding …We study the smoothing impact of fiscal stabilizers (proxied by government expenditures or revenues) on business cycle … increase in cyclical volatility. This may call for a reconsideration of the use of fiscal stabilizers for business cycle …

education spending more pro-poor by increasing the access of low-income households to schools. …

Does reliance on transfers weaken fiscal discipline and encourage pro-cyclical fiscal policies in recipient subnational … governments? Using fiscal reaction functions for a panel of the German Länder, this paper finds a positive answer to both … questions. Net-recipient states (Länder, benefiting from the transfer system) have not reduced primary expenditure significantly …