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Defining the welfare state is not a simpleminded task. Actually, there are numerous definitions which try to reflect at least some of the basic characteristics of the welfare state or its objectives and its functions. For some, there is primarily an institutional parameter, for others there are...
Persistent link: https://www.econbiz.de/10015260347
Many proponents of conservative fiscal policies talk of the budget deficit as being a matter of intergenerational equality. However, this paper shows the younger generations (and those yet to be born) will contribute more to the deficit than older generations. This analysis uses data from the...
Persistent link: https://www.econbiz.de/10008545824
The Great Recession has left tens of millions of families facing unemployment, underemployment and the threat of losing their home. However,concerns over the deficit threaten to derail efforts to turn around the economy and spur employment. This report attempts to correct many of the...
Persistent link: https://www.econbiz.de/10008563396
Recently governments, economists, and international financial institutions have been debating the merits of further fiscal stimulus to combat the Great Recession versus fiscal austerity or “adjustment” – that is, higher taxes and/or lower government spending – to combat budget deficits....
Persistent link: https://www.econbiz.de/10008671782
This paper covers seven key points about the national debt, budget and trade deficits, and the dollar that the public needs to understand in order to be well-informed and prepared to choose among various policy options.
Persistent link: https://www.econbiz.de/10009145708
With the economy suffering from near double-digit unemployment, public debate is dominated by concerns over the budget deficit and national debt. This discussion is unfortunate both because there is no reason for people to be concerned about the deficit at present, and more importantly, because...
Persistent link: https://www.econbiz.de/10008678193
Although fiscal imbalance and its adverse effects on macro economic equilibrium in India have been receiving wide attention, the issue at States' level has not so far been adequately analyzed. In many respects, fiscal situation in States is more critical than that at the Centre as States have...
Persistent link: https://www.econbiz.de/10014154345
This article provides a theoretical view on European Public Sector Accounting Standards (EPSAS), focusing on overarching accounting principles and models, as well as their consequences on the working and the very existence of public service activity. Our analysis applies to illustrative cases...
Persistent link: https://www.econbiz.de/10014159182
Since the 1990s at least, UK HM Treasury has been leading a general transformation of public service and the relationship between public and private sectors, driven by a distinctive preference for the private sector. This preference has led to transplant the IFRS to provide a balance sheet...
Persistent link: https://www.econbiz.de/10013006607
The European Union's constitutional balanced-budget amendment, the Stability and Growth Pact (SGP), dictates that EU member states keep their budget deficits within three percent of GDP and that government debt be kept at or below 60 percent of GDP. After 20 years, unintended consequences of the...
Persistent link: https://www.econbiz.de/10013030527