Discounting of cash flow is the operation widespread in financial sector. But it is applied only to the corporate finance. In the article the opportunity of discounting of incomes and charges of the state budget is investigated. Besides in the article the opportunity of application of rules of...

We present a dynamic two-region model with overlapping generations. There are two types of public expenditure, education and infrastructure funding, and governments decide optimally on budget size (tax rate) and its allocation across the two outlays. Productivity of government infrastructure...

This paper examines the rationale for the imposition of fiscal rules as a way to reduce budgetary imbalances. It presents theoretical arguments for the existence of a quot;fiscal deficit biasquot; and the empirical evidence on the economic, political and institutional factors leading to this...

We study budget formation in a model featuring separation of powers. In our model, the legislature designs a budget bill that can include a cap on total spending and earmarked allocations to designated public projects. Each project provides random benefits to one of many interest groups. The...

This research publication through the Ministry of Finance (Government of Karnataka) is a comparative study of national budgetary policy between India, the US, the UK, and Japan. The vast difference in their politico-economic history and these countries' pertinence in the global economy make them...

In March 2015, some of the legislative norms whereby the budget process is regulated, were suspended due to the fact that in the new economic situation some of the parameters approved by Federal Law of 1 December 2014, No 384-FZ ‹On the Federal Budget for 2015 and Planning Period 2016 and 2017...

Measuring the cost of legislation or even projecting the course of the federal budget requires defining a budget baseline — a starting point capturing the current state of the budget. Budget baselines underlie most measures employed in federal budget debates and enforcement rules. Yet, despite...

This festschrift celebrates the extensive contribution John Wanna has made to the research and practice of politics, policy and public administration. It includes both personal acknowledgements of his work and substantial essays on the issues that he focused most closely upon during his academic...