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The main purpose of this paper is to investigate the relationship between tax revenue and government spending in order to make some policy suggestions on how to achieve fiscal discipline in Turkey. We have used the cointegrated vector autoregression (VAR) method along with the Granger causality...
Persistent link: https://www.econbiz.de/10010491481
The impact assessment of macroeconomic policies on public health expenditure is very relevant in Indian economy because … of tax reform, fiscal consoli- dation, and expenditure policy reform. These have been undertaken after economic … slowing down of growth in public health expenditure and a huge disparity in the allocation of budget toward health care among …
Persistent link: https://www.econbiz.de/10011988826
making its monitoring more effective through better short-term indicators, in particular the expenditure benchmark. We …, the expenditure benchmark should be reformed in order to further its countercyclical impact on fiscal policy, and it …
Persistent link: https://www.econbiz.de/10012939224
-term indicators, in particular the expenditure benchmark. We provide a proposal for a practical implementation option which is largely … consistent with the current rules. At the same time, the expenditure benchmark should be reformed in order to further its …
Persistent link: https://www.econbiz.de/10014278148
The central objective of this paper is to empirically examine the issue of fiscal sustainability in developing Asia. To do so, we first diagnose the region's public finances by analyzing the evolution of key fiscal indicators over time and across subregions. We then estimate fiscal policy...
Persistent link: https://www.econbiz.de/10010507295
Fiscal rules are argued to be important for sound and sustainable fiscal policies and have been increasingly adopted over the last 20 years. However, as increased fiscal pressure and fiscal risks urge countries to address the public debt legacy left by recent economic crises, fiscal rules come...
Persistent link: https://www.econbiz.de/10014374769
Fiscal consolidation is a traditional concern, we can say at the European institutional level, ratified and gradually taken over by the member countries, implemented through the Stability and Growth Pact, and enshrined in the Treaty of Maastricht, which is part of the permanent bailouts of...
Persistent link: https://www.econbiz.de/10012484766
A number of cross-country comparisons do not find a robust negative relationship between government size and economic growth. In part this may reflect the prediction in economic theory that a negative relationship should exist primarily for rich countries with large public sectors. In this paper...
Persistent link: https://www.econbiz.de/10010281456
expenditures. Preliminary results show that revenues and expenditures do not have a long-run relationship and hence a rejection of … expenditures in order to place emphasis on the structural component. We argue that the structural component of fiscal variables … represents the actual long term behaviour of the policymaker. Further results indicate that structural revenues and expenditures …
Persistent link: https://www.econbiz.de/10014565936
This paper presents a comprehensive framework examining fiscal sustainabil- ity in developing economies. It integrates public capital, labor informality, and global liquidity shocks in a two-sector DSGE model for a small open economy, revealing their intricate interplay and nonlinear impact on...
Persistent link: https://www.econbiz.de/10014564100