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Fiscal behaviour in the European Union: rules, fiscal decentralization and government indebtedness
Afonso, António; Hauptmeier, Sebastian - European Central Bank - 2009
We assess the fiscal behaviour in the European Union countries for the period 1990-2005 via the responsiveness of budget balances to several determinants. The resultsshow that the existence of effective fiscal rules, the degree of public spendingdecentralization, and the electoral cycle can...
Persistent link: https://www.econbiz.de/10005866594
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Fiscal Policy Effects in the European Union
Thams, Andreas - Sonderforschungsbereich Ökonomisches Risiko <Berlin> - 2006
This paper analyzes empirically the impact of fiscal policy on the price level for the cases of Germany and Spain. We investigate whether the fiscal theory of the price level (FTPL) is able to deliver a reasonable explanation for the different performances of the price level in these two...
Persistent link: https://www.econbiz.de/10005861840
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Public Debt, Fiscal Solvency, and MacroeconomicUncertainty in Latin America: The Cases of Brazil,Colombia, Costa Rica, and Mexico
Mendoza, Enrique G.; Oviedo, Pedro Marcelo - Iowa State University of Science and Technology <Ames, … - 2006
The ratios of public debt as a share of GDP of Brazil, Colombia, and Mexico were 12 percentagepoints higher on average during the period 1996-2005 than in the period 1990-1995. CostaRica's debt ratio remained stable but at a high level near 50 percent. Is there reason to beconcerned for the...
Persistent link: https://www.econbiz.de/10009360838
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Institutionalized Corruption and the Kleptocratic State
Charap, Joshua; Harm, Christian - 1999
This paper argues that corruption patterns are endogenous to political structures. Thus, corruption can be systemic and … by creating a system of patronage and loyalty through corrupt bureaucracy. competetive corruption patterns are asociated … with anarchy and weak dictators, while strong dictators implement a system of monopolistic corruption. Efforts at public …
Persistent link: https://www.econbiz.de/10005842922
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Electoral Accountability and Corruption inLocal Governments: Evidence from Audit Reports
Ferraz, Claudio; Finan, Frederico - Forschungsinstitut zur Zukunft der Arbeit <Bonn> - 2007
Political corruption is a concern of many modern democracies. It weakens democraticinstitutions, restricts public … determines corruption islimited. This paper uses a novel dataset of political corruption in local governments,constructed from … reports of an anti-corruption program in Brazil, to test whether the possibilityof re-election affects the level of rents …
Persistent link: https://www.econbiz.de/10005862786
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Rent-Seeking Distortions and Fiscal Procyclicality
Ilzetzki, Ethan - London School of Economics and Political Science - 2008
Recent research has demonstrated that while government expenditures are countercyclical inmost industrialized countries, they tend to be procyclical in developing countries. We develop adynamic political economy model to explain this phenomenon. In the model, public expendituresprovide insurance...
Persistent link: https://www.econbiz.de/10008939830
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Kosher Pork
Drazen, Allan; Ilzetzki, Ethan - University of Maryland <College Park, Md.> / Department …; … - 2011
Both conventional wisdom and leading academic research view pork barrel spendingas antithetical to responsible policymaking in times of crisis. In this paper we presentan alternative view. When agents are heterogeneous in their ideology and in theirinformation about the economic situation,...
Persistent link: https://www.econbiz.de/10008939832
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Population Aging, the Composition of Government Spending, and Endogenous Economic Growth in Politico-Economic Equilibrium
Kuehnel, Johanna - Alfred-Weber-Institut für Sozial- und … - 2011
This paper introduces a democratic voting process into an OLG economyin order to analyze the effects of a rising old-age dependency ratio on the composition ofgovernment spending and endogenous economic growth. Forward-looking agents vote eachperiod on the public policy mix between productive...
Persistent link: https://www.econbiz.de/10009248987
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On the distribution of debt and taxes
Caselli, Francesco - London School of Economics and Political Science - 1996
This paper studies public-debt runs under alternative assumptions on the distribution oftaxes among tax bases, the distribution of debt among classes of taxpayers, and thedistributive preferences of the government. Asymmetries in the distribution of taxes--arising, for example, from income-tax...
Persistent link: https://www.econbiz.de/10009305095
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Sustainable Fiscal Policy with Rising Public Debt-to-GDP Ratios
Oviedo, Pedro Marcelo - Iowa State University of Science and Technology <Ames, … - 2007
In financial and economic policy circles concerned with public debt in developingcountries, a rising debt-GDP ratio is interpreted as a signal of overborrowing, warn-ing of debt defaults if strong fiscal corrections are not adopted in time. This papershows why this interpretation is incorrect by...
Persistent link: https://www.econbiz.de/10009360837