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The Budget Deficit and the Trade Deficit: What Is Their Relationship?

Labonte, Marc; Government and Finance Division - 2003

the trade deficit. The experience during both the 1980s and 1990s demonstrates that a large and growing trade deficit need …

Persistent link: https://www.econbiz.de/10009475103

A Review of Capital Budgeting Practices

Jacobs, Davina F. - International Monetary Fund (IMF) - 2008

A key challenge in government budgeting is to define an appropriate balance between current and capital expenditures. Budgeting for government capital investment also remains not well-integrated into the formal budget preparation process in many countries. This paper aims to provide an overview...

Persistent link: https://www.econbiz.de/10005263712

Who Controls the Budget; The Legislature or the Executive?

Lienert, Ian - International Monetary Fund (IMF) - 2005

Country-specific factors prevent a strong linear relationship between the legislature's budgetary powers and the extent of its separation from the executive. Electoral and voting systems, bicameralism, constitutional and legal constraints, voluntary contracts of political parties, and...

Persistent link: https://www.econbiz.de/10005768843

Top-Down Budgeting; An Instrument to Strengthen Budget Management

Ljungman, Gösta - International Monetary Fund (IMF) - 2009

This paper examines the rationale for a top-down approach to budget preparation and approval, and discusses some factors that have to be considered when reorienting the budget process along these lines. The paper argues that the sequence in which budgetary decisions are taken matters, and that a...

Persistent link: https://www.econbiz.de/10008540937

Budget Institutions and Fiscal Performance in Low-Income Countries

Gollwitzer, Sophia; Kvintradze, Eteri; Prakash, Tej; … - International Monetary Fund (IMF) - 2010

This paper presents, for the first time, multi-dimensional indices of the quality of budget institutions in low-income countries. The indices allow for benchmarking against the performance of middle-income countries, across regions, and according to different institutional arrangements that...

Persistent link: https://www.econbiz.de/10008470408

Can Budget Institutions Counteract Political Indiscipline?

Mody, Ashoka; Fabrizio, Stefania - International Monetary Fund (IMF) - 2006

The budget is an expression of political rather than economic priorities. We confirm this proposition for a group of new and potential members of the European Union, finding that politics dominates. The contemporary practice of democracy can increase budget deficits through not only ideological...

Persistent link: https://www.econbiz.de/10005599230

Aristotle and Hamilton on commerce and statesmanship

Chan, Michael D. - 2006

"Examines Alexander Hamilton's political economy in relation to Aristotle's classical views of economics, as presented in his Politics, and finds shared support of commerce in pursuit of a regime's or democracy's wider goals" - Provided by publisher

Persistent link: https://www.econbiz.de/10003301629

The U.S. current account deficit and the expected share of world output

Engel, Charles; Rogers, John H. - Federal Reserve Bank of San Francisco - 2006

We investigate the possibility that the large current account deficits of the U.S. are the outcome of optimizing behavior. We develop a simple long-run world equilibrium model in which the current account is determined by the expected discounted present value of its future share of world GDP...

Persistent link: https://www.econbiz.de/10005361493

Expansionary fiscal shocks and the trade deficit

Erceg, Christopher J.; Guerrieri, Luca; Gust, Christopher - Federal Reserve Board (Board of Governors of the … - 2005

trade balance in the United States. We examine the effects of two alternative fiscal shocks: a rise in government … effect on the U.S. trade balance, irrespective of whether the source is a spending increase or tax cut. In our benchmark … calibration, we find that a rise in the fiscal deficit of one percentage point of GDP induces the trade balance to deteriorate by …

Persistent link: https://www.econbiz.de/10005368512

The U.S. productivity acceleration and the current account deficit

Valderrama, Diego - In: FRBSF Economic Letter (2007)

This Economic Letter reviews the current facts about the current account deficit and its determinants, and describes the channels through which it is affected by an increase in trend labor productivity growth.

Persistent link: https://www.econbiz.de/10005346753

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