I show that the weather condition on election day affects future fiscal policy. When it rains during state elections, there is an increase in the relative income of voters, which is followed by an increase in expenditure and debt. The increase in expenditure is directed towards a larger police...

I show that the weather condition on election day affects future fiscal policy. When it rains during state elections, there is an increase in the relative income of voters, which is followed by an increase in expenditure and debt. The increase in expenditure is directed towards a larger police...

This paper outlines some issues regarding the interaction of independent fiscal authorities and one central bank in the European monetary union.It points out the possibilities for coordination failures,ranging everywhere from potentially excessive deficits and free-riding problems to...

This paper examines the patterns and trends in inter-state migration across Indian states and observes that migration is affected by demographic profile as well as the fiscal profile of states. Econometric estimation suggests that level of vertical federal transfers and its horizontal...

In recent decades, Chile has implemented fiscal responsibility policies, which have generated substantial benefits for the country. In 2000 these policies were institutionalized following the structural balance approach, which to date has been applied both in booms and in the 2008-2009...

Local governments in Japan account for about 80 per cent of general government spending when excluding social security expenditures. Therefore, for the implementation of fiscal policy it is important how local governments will behave. On the basis of the economic theories on fiscal federalism it...

The Congolese authorities requested an IMF staff-monitored program (SMP), in support of the economic program they spelled out in the accompanying Memorandum on Economic and Financial Policies (MEFP). The Democratic Republic of the Congo showed remarkable macroeconomic stability under the Poverty...

This report summarizes the Observance of Standards and Codes on Fiscal Transparency for the Former Yugoslav Republic of Macedonia. It provides an assessment of fiscal transparency practices in the Former Yugoslav Republic (FYR) of Macedonia in relation to the requirements of the IMF Code of Good...

This paper on the Third Staff Review and Extension of the Staff-Monitored Program for the Union of the Comoros reports that important structural reforms have been implemented in the fiscal area, but progress is slow in other areas and institutional capacity remained low. The authorities’...