This paper aims at identifying which countries and regions in the world might face structural overcapacities or capacity shortfalls in the automobile industry in the near future. It discusses the main forces that are likely to shape car demand over the next several years, including GDP growth,...

This paper investigates the presence of buoyancy effects in VAT revenue. The projected improvement in economic conditions from 2014 onwards could result in cumulative gains in VAT revenue up to 0.70% of GDP in the period from 2014 to 2016. There is evidence that the intensification of VAT...

We find that lottery tax windfalls finance higher state-government expenditures on supplemental security income that increase consumption, but only during bust periods. Wealth transfers from lottery winners to low income households enable fiscal policy to stabilize consumption during bust periods.

The financial crisis raises demands for fiscal policy interventions. While a fall in aggregate demand is an important consequence of the crisis, it also reflects more underlying structural problems and changes. Hence, appropriate policy designs have to take account of the nature of the crisis...

We seek to understand how Laffer curves differ across countries in the US and the EU-14, thereby providing insights into fiscal limits for government spending and the service of sovereign debt. As an application, we analyze the consequences for the permanent sustainability of current debt...

El objetivo de este documento es explicar el nuevo esquema para la fijación del precio máximo de venta al público de la gasolina automotor, establecido recientemente por el gobierno, y mediante un análisis insumo producto determinar su posible impacto sobre la inflación al consumidor. La...

Este trabalho tem como objetivo avaliar o impacto de políticas fiscais nos ciclos econômicos do Brasil, utilizando modelos de equilíbrio geral dinâmico para uma pequena economia aberta com governo. Os resultados dos modelos calibrados para o caso brasileiro são capazes de replicar a maior...

Progressives need a fundamentally new approach to politics. They have been losing not just because conservatives have so much more money and power, but also because they have accepted the conservatives’ framing of political debates. They have accepted a framing where conservatives want market...

In the modern world, a legal framework has been set up and a market regulator has been defi ned so that payment as a relation between the debtor and creditor can not be put in question regarding the realization of their integral rights. Countries in transition, including Croatia (the Republic of...

The paper uses a static Computable General Equilibrium (CGE) model of South Africa and simulates various shocks to the price of electricity. We attempt di¤erent closures to the model and compare their respective e¤ects on the Consumer Price Index. In a CGE model, this is measuring the real...