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Fiscal Policy and Macroeconomic Imbalances
Baldacci, Emanuele; Gupta, Sanjeev; Mulas-Granados, Carlos - Banca d'Italia - 2014
The volume collects the essays presented at the 15th Workshop on Public Finance organised by Banca d'Italia in Perugia from 4 to 6 April 2013. The workshop focused on the link between fiscal policy and macroeconomic imbalances and comprised four sessions. The first session concentrated on the...
Persistent link: https://www.econbiz.de/10011277938
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How Windfall Income Increases Gambling at Poker Machines
Buddelmeyer, Hielke; Peyton, Kyle - Melbourne Institute of Applied Economic and Social … - 2013
In December 2008 and March-April 2009 the Australian Government used fiscal stimulus as a short-run economic … stimulus cheques. Increased spending at EGMs in December 2008 amounted to 1% of the total stimulus for that period. We conclude … that the 2008-2009 stimulus packages substantially increased gambling at EGMs in Victoria. We find no unexpected increase …
Persistent link: https://www.econbiz.de/10010628501
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Keynesian, Classical and New Keynesian Approaches to Fiscal Policy: Comparison and Critique
Palley, Thomas I. - Institut für Makroökonomie und Konjunkturforschung … - 2012
The short-run macroeconomic effectiveness of fiscal policy depends on the effect of policy on AD and the effect of AD on output. This paper examines how macroeconomic perspectives (Keynesian, Post Keynesian, monetarist, classical, new classical, and new Keynesian) describe the effect of AD on...
Persistent link: https://www.econbiz.de/10010858928
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Argentina: Trying to Make Sense of the Financial Tango
Buchs, Thierry - EconWPA - 2005
The paper discusses and revisits some of the most popular stories behind the 2001 financial crisis in Argentina, i.e. the prolonged overvaluation of the peso owing to the Currency Board arrangement, the lack of fiscal adjustment, and the negative external environment which triggered a “sudden...
Persistent link: https://www.econbiz.de/10005076729
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The Effects of Budget Rules on Fiscal Performance and Macroeconomic Stabilization
Millar, Jonathan - Bank of Canada - 1997
Budget rules can be defined as legislated or constitutional constraints on government deficits, taxes, expenditures, or debt. This paper reviews the budget rules recently legislated in six of Canada's provinces and both of its territories, as well as budget rules in other OECD countries. In...
Persistent link: https://www.econbiz.de/10005673294
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An Alternate Approach to Theory of Taxation and Sources of Public Finance in an Interest Free Economy
Shaikh, Salman - Volkswirtschaftliche Fakultät, … - 2009
This unique study discusses the theory of taxation in Islam and the role of Zakat in an Islamic economy. Zakat is a compulsory payment i.e. a tax in this sense paid to the government on one’s income and wealth. The Zakat rates are studied for their viability and effectiveness to fulfill fiscal...
Persistent link: https://www.econbiz.de/10008476362
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Short-Term Pain for Long-Term Gain: The Impact of Structural Reform on Fiscal of Outcomes in EMU
Noord, Paul van den; Cournède, Boris - Economics Department, Organisation de Coopération et … - 2006
The 2005 reform of the EU Stability and Growth Pact has provided leeway for governments to let their fiscal deficit temporarily breach the 3% rule to finance the immediate budgetary cost of structural reform, such as compensation schemes to offset redistributive effects. Against this backdrop,...
Persistent link: https://www.econbiz.de/10005045584
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Does the Stability and Growth Pact induce a bias in the EC's fiscal forecasts
Gilbert, Niels; Jong, Jasper de - de Nederlandsche Bank - 2014
Enforcement of European fiscal rules, to a large extent, hinges on the fiscal forecasts prepared by the European Commission (EC). The reliability of these forecasts has received little attention in the literature, despite the fact that i) the forecasts have potentially far-reaching consequences...
Persistent link: https://www.econbiz.de/10011098670
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Determinants of fiscal budget volatility in old versus new EU member states
Mara, Eugenia-Ramona - Volkswirtschaftliche Fakultät, … - 2012
In this study we perform an analysis of the volatility of the budget deficit for EU countries. We address this issue starting from the new requirements of fiscal discipline imposed by the Treaty on Stability, Coordination and Governance adopted by 25 European Union member states and taking into...
Persistent link: https://www.econbiz.de/10011109814
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Estimating the Federal Direct Tax Buoyancy for Pakistan in Post-1973 Era
Shaikh, Salman - Volkswirtschaftliche Fakultät, … - 2012
This study used the simple co-integration technique to estimate the direct tax buoyancy for Pakistan economy for the 36 year period starting from FY-1974 to FY-2009. The buoyancy estimated was more than unity which represents slight improvement over previous estimates in past studies. The study...
Persistent link: https://www.econbiz.de/10011110075