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In this paper, a new approach to disclose the impact of politics on economic growth is presented: we use data derived from content analysis of party manifestos as measures of party preferences. In a panel of 23 OECD countries, we detect a positive impact of party support for various...
Persistent link: https://www.econbiz.de/10008702176
Hours worked is a time series of interest in many empirical investigations of the macroeconomy. Estimates of macro elasticities of labour supply, for example, build on this variable. Other empirical applications investigate the response of hours worked to a shock to technology on the basis of...
Persistent link: https://www.econbiz.de/10003314703
This paper examines the factors determining vertical government structures. An empirical analysis for a panel of OECD countries indicates that apart from preferences, economies of scale, and other factors, institutions explain cross-national differences in the degree of fiscal decentralization....
Persistent link: https://www.econbiz.de/10002905940
Tax competition arguments suggest that governements that operate in an open economy (such as local governments) should not and will not rely on non-benefit taxes, such as the income tax. Yet we observe reliance on income taxes by local governments in many countries, and such reliance changes...
Persistent link: https://www.econbiz.de/10011443043
Declining inflation rates might have negative consequences for tax revenues. Phenomena like the inflationary bracket creep in a progressive income tax system do not work any longer. With this background the paper analyzes the extent of fiscal drag for OECD countries since 1965. Some...
Persistent link: https://www.econbiz.de/10011444606
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applying an instrumental variable estimation approach. -- Unemployment ; institutions ; labor and product markets ; model …
Persistent link: https://www.econbiz.de/10008652532
Reducing institutional rigidities in product and labour markets is key to lowering unemployment. The impact of such labour and product market reforms, however, depends crucially on the country-specific regulatory framework. In this paper, we estimate the country-specific impact of changes in six...
Persistent link: https://www.econbiz.de/10009762785