In the theoretical macroeconomics literature, fiscal policy is almost uniformly taken to mean taxing and spending by a ‘benevolent government’ that exploits the potential aggregate demand externalities inherent in the imperfectly competitive nature of goods markets. Whilst shown to raise...

This paper examines the organization and reporting structure of Singapore's public budgetary accounts and implications for public financial management. The budget's current reporting scope and structure does not provide an adequate representation of the government's fiscal position. Subtle...