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Wage Expenditures of Central Governments

International Monetary Fund - 1995

Central government wage expenditures accounted for 7 percent of GDP in 99 countries during 1980-90 (unweighted average). Regression analysis indicates that federations, countries with high populations and high per capita incomes, heavily indebted countries, and small low-income economies tend to...

Persistent link: https://www.econbiz.de/10014398730

Do subnational fiscal rules foster fiscal discipline? : new empirical evidence from Europe

Kotia, Ananya; Lledó, Victor D. - 2016

This paper studies how fiscal rules interact with the intergovernmental fiscal framework to foster fiscal discipline among European subnational governments. We use political variables describing the fiscal attitudes of the central government as instruments to obtain consistent estimates of the...

Persistent link: https://www.econbiz.de/10011705636

A Game-Theoretic Analysis of Corruption in Bureaucracies

Dabla-Norris, Era - 2000

This paper examines interactions between self-interested agents in a two-tier government hierarchy, consisting of a central authority and bureaucrats in a two-stage game, where the actions of agents affect private sector allocations. Conditions under which lower-tier corruption arises as an...

Persistent link: https://www.econbiz.de/10014399923

Government for the People:on the Determinants of the Size of U.S. Government

Bayoumi, Tamim A. - 2007

Trends in the size of U.S. government are examined. In the postwar period, general government primary spending rose by 1⁄4 percent of GDP a year through 1975, stabilizing thereafter. With higher social transfers offset by a lower burden of defense spending, expansion reflected a baby-boom...

Persistent link: https://www.econbiz.de/10014400885

The Savings Trap and Economic Take-Off

Ghosh, Atish R. - 1992

We develop an overlapping generations model of a developing economy in which ‘culture’ and technology interact to determine savings, investment and growth. Investment is assumed to involve intermediation or other costs which may, in each period, result in either of two stable equilibria for...

Persistent link: https://www.econbiz.de/10014397933

Measuring External Risks for Peru : Insights from a Macroeconomic Model for a Small Open and Partially Dollarized Economy

Han, Fei - 2014

This paper quantifies the effects of external risks for Peru, with particular attention to two major external risks … and partially dollarized economy is developed and estimated for Peru to measure the risk spillovers, and simulate domestic … macroeconomic responses in different scenarios with these two external risks. The simulation results suggest that Peru’s output is …

Persistent link: https://www.econbiz.de/10014411526

Drivers of Peru's Equilibrium Real Exchange Rate: Is the Nuevo Sol a Commodity Currency?

2015 - Tashu, Melesse ed

Peru's equilibrium real exchange rate using a cointegration analysis. The results show that export commodity prices do not … have a statistically significant impact on Peru's real effective exchange rate, suggesting that the nuevo sol is not a … effectivelly insulated Peru's real exchange rate from the impact of commodity price shocks. Peru's equilibrium real exchange rate …

Persistent link: https://www.econbiz.de/10014411898

Monetary Transmission in Dollarized and Non-Dollarized Economies : The Cases of Chile, New Zealand, Peru and Uruguay

Acosta Ormaechea, Santiago - 2011

exposed to a significant degree of dollarization, Peru and Uruguay. It is shown that the traditional interest rate channel is … effective in Chile and New Zealand. For Peru and Uruguay, the exchange rate channel is instead more relevant in the transmission … pass through. Finally, it is shown that the on-going de-dollarization process of Peru and Uruguay has somewhat strengthened …

Persistent link: https://www.econbiz.de/10014412189

Peru : Monetary and Exchange Rate Policies, 1930-1980

Pastor, Gonzalo - 2012

This paper reviews monetary and exchange rate policies in Peru in 1930-80. The review covers major transformations to …

Persistent link: https://www.econbiz.de/10014395729

Currency Substitution and Inflation in Peru

Rojas-Suárez, Liliana - 1992

-market-exchange rate and the ratio of domestic to foreign money in Peru; that is, the hypothesis of currency substitution can explain the … behavior of real holdings of money in Peru. The paper also shows that, while the importance of currency substitution as a …

Persistent link: https://www.econbiz.de/10014396169