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-run impact of government expenditure composition and taxation. They analyze the use of the primary balance as a policy tool … interaction between public expenditure composition and taxation on growth. Similar results are obtained: large elasticities of … output with respect to capital stocks, a significant negative impact of taxation on long-run GDP, and a negative impact of …
Persistent link: https://www.econbiz.de/10012747922
-linear relationship between government expenditure, taxes, and debt alters estimates of the impact of fiscal policy on gross domestic …
Persistent link: https://www.econbiz.de/10012975998
Transfers to individuals were a larger part of the 2009 U.S. stimulus package than government purchases. Using a two-agent New Keynesian model, this paper shows analytically that the multiplier on targeted transfers to financially constrained households is (i) larger than the purchase multiplier...
Persistent link: https://www.econbiz.de/10012948280
's 2015 fiscal policy reduces inequality; the largest reduction is created by in-kind public service expenditures on education …-transfer spending; (2) energy subsidies, which do not reach many poor households, absorb a large share of expenditures; and (3) tax …
Persistent link: https://www.econbiz.de/10012943107
rest of the sample, and higher revenues and expenditures, which are approximately evenly split between extra consumption … expenditure and extra capital expenditure. Only about a quarter of their extra revenue goes into extra consumption expenditure …, and this proportion has been lower since 2005. Fuel exporters' expenditure reacts with a lag to oil price fluctuations …
Persistent link: https://www.econbiz.de/10012970120
systematically estimate the impact of geological, climatic, and other types of natural disasters on government expenditures and …
Persistent link: https://www.econbiz.de/10012976164
revenues be transferred to citizens, and fiscal instruments such as taxation be used to finance public expenditures. The … authors develop the case as follows. First, they confirm the well-known result that public-expenditure efficiency is lower in …, controlling for a number of factors, accountability is stronger in countries that rely more on direct taxation to finance public …
Persistent link: https://www.econbiz.de/10012976566
This paper presents estimates of the effects that terms of trade volatility has on growth of real gross domestic product per capita. Based on five-year non-overlapping panel data comprising 175 countries during 1980?2010, the paper finds that: (i) in model specifications that do not include...
Persistent link: https://www.econbiz.de/10012970533
This paper presents new evidence on the patterns of cyclicality in the fiscal policy stance of developing and industrialized countries over a period of more than three decades covering 180 countries during 1980?2012. First, the paper considers issues of robustness in the choice of the proxy for...
Persistent link: https://www.econbiz.de/10012971636
The author describes a spread-sheet planning model to help determine the government deficit consistent with a policymaker's "vector" of principal macroeconomic objectives (including real GDP growth, inflation, exchange rate, and international reserve accumulation). The model focuses on the...
Persistent link: https://www.econbiz.de/10012971024