regions, coupled with increased expenditure demands, led to substantial state budget deficits. State fiscal institutions, such … as "no deficit carryover" rules and tax and expenditure limitations, appear to have real effects on the speed and nature …

government's future expenditures, including the servicing of its outstanding official debt, be covered by its government's future … receipts when measured in present value. The difference between the present value of a country's future expenditures and its … that the Russia's energy resources are finite, whereas its expenditure needs are not. Moreover, Russia is aging and facing …

, average public debt-GDP ratios decline as the variability of revenues increases, primary balances and current expenditures … variability of public expenditures exceeds that of private expenditures by a wide margin. This paper proposes a model of a small … expenditure and debt plans given shocks to output and revenues, and private agents make optimal consumption and asset accumulation …

are: i) on average fiscal expansions are the results of increases in expenditures, particularly of transfer programs …