Showing 1 - 10 of 88
This note investigates the impact of greater income inequality on the tax base, on the defacto fiscal space, and the sovereign spreads. Using data from 50 countries in 2005 and in 2010, we find that higher income inequality is associated with a lower tax base, lower de-facto fiscal space, and...
Persistent link: https://www.econbiz.de/10010288151
Climate change impacts in coastal areas (CA) have exposed coastal ecosystems to unprecedented conditions. System dynamic modelling (SD) has been used as a powerful tool to improve climate change adaptation (CCA) strategies. However, until now there are no review papers that summarize how...
Persistent link: https://www.econbiz.de/10013353591
I show that the weather condition on election day affects future fiscal policy. When it rains during state elections, there is an increase in the relative income of voters, which is followed by an increase in expenditure and debt. The increase in expenditure is directed towards a larger police...
Persistent link: https://www.econbiz.de/10014301981
This paper contributes to the small empirical literature that attempts to estimate tax reaction functions of national governments competing with other national governments. After presenting a simple theoretical model, we estimate reaction functions for European countries for a pure Nash model...
Persistent link: https://www.econbiz.de/10010318332
In many countries, especially poor countries, a heavy burden of taxes, bribes, and bureaucratic hassles drives many producers into the informal sector. Is this situation explicable only as a consequence of either the ignorance or the ineptitude of the state authorities? On the contrary this...
Persistent link: https://www.econbiz.de/10010318889
Facing unprecedented uncertainty and drastic trade-offs between public health and other forms of human well-being, policymakers during the Covid-19 pandemic have sought the guidance of epidemiologists and economists. Unfortunately, while both groups of scientists use many of the same basic...
Persistent link: https://www.econbiz.de/10012819003
A monetary approach that combines Chartalism, Nominalism, and Command origins of monetary systems is often deemed to have emerged only recently, while the Aristotelian approach (Commodity, Metallism, and Market origins of monetary systems) is the only one that existed until the end of the...
Persistent link: https://www.econbiz.de/10015189321
According to the theory of efficient markets, economic agents use all available information to form rational expectations. The rational expectations hypothesis asserts that information is scarce, the economic system generally does not waste information, and that expectations depend specifically...
Persistent link: https://www.econbiz.de/10014474473
We estimate the fiscal (spending) multiplier using quarterly U.S. data, 1986-2017. We define government spending shocks as actual minus expected expenditure growth, the latter obtained from the Survey of Professional Forecasters. We employ the ST-VAR model with the local projections method. A...
Persistent link: https://www.econbiz.de/10014480597
The desirability of WTO membership for China depends on whether its economic successes have been the result of its discovery of new institutional forms (e.g. dual track pricing, SOE contracts, and fiscal contracts) that are optimal for China''s particular economic circumstances, or have been the...
Persistent link: https://www.econbiz.de/10010318608