Showing 1 - 10 of 1,330
This paper examines the relationship between corruption and public debt in 106 countries. Results suggest that … corruption leads to an increase in public debt. We also investigate if the effect of corruption on pblic debt is increased by … government expenditure, the shadow economy and military expenditure. We find that the effect of corruption on public debt is …
Persistent link: https://www.econbiz.de/10010208991
This paper will present the Modern Money Theory approach to government finance. In short, a national government that chooses its own money of account, imposes a tax in that money of account, and issues currency in that money of account cannot face a financial constraint. It can make all payments...
Persistent link: https://www.econbiz.de/10012102465
President Biden signed a $1.9 trillion COVID relief package (the “American Rescue Plan”) on March 11, 2021. Without a corresponding increase in taxes, this plan has set off alarm bells for those concerned about the expansion of government deficits and debt. Mainstream economists have raised...
Persistent link: https://www.econbiz.de/10013227477
To carry out the analysis required for monetary policy, the European Central Bank (ECB) and the European System of Central Banks (ESCB) need comprehensive and reliable government finance statistics. The focus of government finance statistics has traditionally been the government as a whole...
Persistent link: https://www.econbiz.de/10013540742
We apply non-linear error-correction models to the empirical testing of the sustainability of the government's intertemporal budget constraint. Our empirical analysis, based on Italy, shows that the Italian government is meeting its intertemporal budget constraint, in spite of the high levels of...
Persistent link: https://www.econbiz.de/10003936661
Despite a deep recession in 2009 and weak growth in subsequent years, Hungary’s fiscal position compares favourably with many other OECD countries. Nonetheless, the underlying fiscal balance started deteriorating in 2010 and 2011. Recognising this, Hungary’s government launched an ambitious...
Persistent link: https://www.econbiz.de/10009690137
The study looks at primary expenditure developments in the euro area, its three largest members and four "macro-imbalances" countries for the period 1999-2009. It compares actual expenditure trends with those that would have prevailed if countries had followed neutral policies based on...
Persistent link: https://www.econbiz.de/10008728760
Employing data from a representative survey conducted in Germany, this paper examines public preferences for the size and composition of government expenditure. We focus on public attitudes toward taxes, public debt incurrence, and public spending in six different policy areas. Our findings...
Persistent link: https://www.econbiz.de/10010434575
The current European fiscal framework is highly complex. The multitude of fiscal rules and the discretion in their enforcement precludes an effective oversight and weakens the effectiveness of fiscal rules substantially. Against this background, we present a proposal for a careful refocusing of...
Persistent link: https://www.econbiz.de/10011898769
We investigate the extent to which the intensity of political competition moderates the governance issues that arise in relation to Canada’s fiscal structure. By fiscal structure we mean three distinct but interrelated fiscal dimensions of the state: financial stability, long run size and...
Persistent link: https://www.econbiz.de/10011899070