Changes in the population age structure can have a significant effect on fiscal sustainability since they can affect both government revenues and expenditures. For example, population aging will increase expenditures on the elderly while reducing potential growth and hence revenues. In this...

Fiscal policy can have positive effects on economic growth through changes in the structure of total expenditure, i.e. reductions in unproductive or current expenditure, lower taxes, and higher government investment - provided that it is offset by a decrease in unproductive expenditure. Such...

The impact of immigration on the finances of the government of the host country represents a crucial element of its overall economic impact. Their analysis is of particular interest in the area of the autonomous communities, because they provide some basic services in the area of the Welfare...

We study the loss function of 15 European governments as implied by their budget balance forecasts. Results suggest that the shape of the loss function varies across countries. The loss function becomes more asymmetric as the forecast horizon increases and in advance of parliamentary election....

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 liberalization in order to sustain a high economic growth....