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Persson, Torsten - 1999

Observed fiscal policy varies greatly across time and countries. How can we explain this variation across time and countries? This paper surveys the recent literature that has tried to answer this question. We adopt a unified approach in portraying public policy as the equilibrium outcome of an...

Persistent link: https://www.econbiz.de/10012471701

Government, Openness and Finance : Past and Present

Demetriades, Panicos O. - 2010

We explore the role of government in the nexus of finance and trade starting from the earliest days of organised … finance in England and then broadening the analysis to 84 countries from 1960 to 2004. For 18th century England, we find that …

Persistent link: https://www.econbiz.de/10012462195

Methodological Frontiers of Public Finance Field Experiments

Kling, Jeffrey R. - 2007

to make public finance field experiments more useful …

Persistent link: https://www.econbiz.de/10012465725

Government Finance in the Wake of Currency Crises

Burnside, Craig - 2003

This paper addresses two questions: (i) how do governments actually pay for the fiscal costs associated with currency crises; and (ii) what are the implications of different financing methods for post-crisis rates of inflation and depreciation? We study these questions using a general...

Persistent link: https://www.econbiz.de/10012468912

Medicare from the Perspective of Generational Accounting

Gokhale, Jagadeesh - 1998

U.S. policy changes and more optimistic fiscal forecasts have significantly improved the long-term fiscal prospects of the country. Nevertheless, these prospects remain dismal. Unless U.S. fiscal policy changes by a lot and very soon, our descendants will face rates of lifetime net taxation that...

Persistent link: https://www.econbiz.de/10012472215

Debt, Cash Flow and Inflation Incentives : A Swedish Example

Persson, Mats - 1996

The fiscal gains from, and hence the political incentives to, an increase in inflation rate of ten percentage points may be substantial: with Swedish data from 1994, these gains would have been an annual real flow of 3-4 percent of GDP, or a capitalized value of nearly 100 percent of GDP. They...

Persistent link: https://www.econbiz.de/10012473062

Should the Government's Allocation Branch be Concerned about the Distortionary Cost of Taxation and Distributive Effects?

Kaplow, Louis - 1993

Does taxation for public goods generally involve a distortionary cost? Are Pigouvian taxes desirable because they raise revenue without having to resort to distortionary taxes? Should decisions concerning public goods or Pigouvian taxes depend on whether their incidence is regressive? The answer...

Persistent link: https://www.econbiz.de/10012474374

Proprietary Public Finance, Political Competition, and Reputation

Grossman, Herschel I. - 1988

Although tax policy in most historical cases has been barely distinguishable from legalized theft, why have tax and spending policies in a few unusually fortunate communities, such as some of the modern democracies, apparently been, if not welfare maximizing, at least relatively benevolent? We...

Persistent link: https://www.econbiz.de/10012476368

On Fiscal Illusion and Ricardian Equivalence in Local Public Finance

Banzhaf, H. Spencer - 2012

We re-evaluate two forms of fiscal illusion in local public finance: debt illusion and renter illusion. The Ricardian … Equivalence Theorem for local governments suggests the form of finance of a public program (tax or debt finance) has no effects on … hundreds of open space referenda in the U.S. using a variety of finance mechanisms, we find evidence that households do prefer …

Persistent link: https://www.econbiz.de/10012460619

The Fiscal Consequences of Missing an Inflation Target

Andreolli, Michele; Rey, Hélène - National Bureau of Economic Research - 2023

The European Central Bank is unique in setting monetary policy for several sovereign states with heterogeneous debt levels and different maturity structures. The monetary-fiscal nexus is central to the functioning of the euro area. We focus on one particular aspect of that nexus, the effect the...

Persistent link: https://www.econbiz.de/10013537713