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Perotti, Roberto; Rostagno, Massimo V.; … - International Monetary Fund (IMF) - 2001

We study the effects of electoral institutions on the size and composition of public expenditure in OECD and Latin American countries. We present a model emphasizing the distinction between purchases of goods and services, which are easier to target geographically, and transfers, which are...

Persistent link: https://www.econbiz.de/10005264182

Democracy, Decentralisation and Deficits in Latin America

Hausmann, Ricardo; Gavin, Michael; Hallerberg, Mark; … - Inter-American Development Bank - 1998

What is the impact of political decentralisation in Latin America? This book considers the problems raised by political decentralisation in the region and identifies the challenges ahead. Political decentralisation tends to devolve a certain amount of financial responsibility to the sub-national...

Persistent link: https://www.econbiz.de/10010673841

The Effects of Tax Shocks on Output: Not So Large, But Not Small Either

Perotti, Roberto - C.E.P.R. Discussion Papers - 2011

theoretical grounds the discretionary component of taxation should be allowed to have different effects on output than the … Favero and Giavazzi (2010): typically, a one percentage point of GDP increase in taxes leads to a decline in GDP by about 1 …

Persistent link: https://www.econbiz.de/10008854466

Managing Fiscal Policy in Latin America and the Caribbean: Volatility, Procyclicality, and Limited Creditworthiness

Gavin, Michael; Hausmann, Ricardo; Perotti, Roberto; … - Inter-American Development Bank - 1996

Latin America is volatile--about two to three times as volatile as the industrial economies. It is more volatile than any region other than Africa and the Middle East. Latin America's access to international financial markets is sporadic, and often disappears just when it would be most valuable.

Persistent link: https://www.econbiz.de/10010943845

Income distribution, fiscal policy, and delays in stabilization

Perotti, Roberto - In: Journal of Economic Policy Reform 1 (1996) 4, pp. 335-355

This paper presents an explanation of the cycles of large fiscal expansions and macroeconomic stabilizations that are frequently observed in developing countries. In the model, different coalitions form and change depending on the position of three groups over the degree of redistribution and...

Persistent link: https://www.econbiz.de/10009208127

Sovereign Risk Premiums in the European Government Bond Market

Bernoth, Kerstin; Hagen, Jürgen von; Schuknecht, Ludger - Volkswirtschaftliche Fakultät, … - 2006

This paper provides a study of bond yield differentials among EU government bonds issued between 1993 and 2005 on the basis of a unique dataset of issue spreads in the US and DM (Euro) bond market. Interest differentials between bonds issued by EU countries and Germany or the USA contain risk...

Persistent link: https://www.econbiz.de/10005785880

Fiscal Policy, Profits and Investment

Alesina, Alberto F; Ardagna, Silvia; Perotti, Roberto; … - C.E.P.R. Discussion Papers - 1999

This paper evaluates the effects of fiscal policy on investment using a panel of OECD countries. In particular, we investigate how different types of fiscal policy affect profits and, as a result, investment. We find a sizeable negative effect of public spending - and in particular of its public...

Persistent link: https://www.econbiz.de/10005791207

Fiscal Policy, Profits, and Investment

Alesina, Alberto; Ardagna, Silvia; Perotti, Roberto; … - Department of Economics, Boston College - 2000

This paper evaluates the effects of fiscal policy on investment using a panel of OECD countries. In particular, we investigate how different types of fiscal policy affect profits and , as a result, investment. We find a sizable negative effect of public spending -- and in particular of its...

Persistent link: https://www.econbiz.de/10004968802

Unemployment Fiscal Multipliers

Monacelli, Tommaso; Perotti, Roberto; Trigari, Antonella - C.E.P.R. Discussion Papers - 2010

percent of GDP generates output and unemployment multipliers respectively of about 1.2 per cent (at one year) and 0 ….6 percentage points (at the peak). Each percentage point increase in GDP produces an increase in employment of about 1.3 million …/or debt financing with distortionary taxation only worsens the picture. New Keynesian features only marginally magnify the …

Persistent link: https://www.econbiz.de/10008468570

Estimating the Effects of Fiscal Policy in OECD Countries

Perotti, Roberto - C.E.P.R. Discussion Papers - 2005

This Paper studies the effects of fiscal policy on GDP, inflation and interest rates in five OECD countries, using a … structural Vector Autoregression approach. Its main results can be summarized as follows: 1) The effects of fiscal policy on GDP … spending shocks and tax cuts on GDP and its components have become substantially weaker over time; in the post-1980 period …

Persistent link: https://www.econbiz.de/10005124359