The euro area is currently going through its worst period of recession and economic stagnation since the Great Depression and World War II. The article tries to give an impression of the extraordinary degree of fiscal austerity and the devastating economic effects it has already had and must be...

This paper develops a macroeconomic forecasting model focusing on fiscal policy and economic growth in Nepal. The structure of the model, which comprises a total of 14 equations, allows alternative policy options for maintaining fiscal stability and promoting economic growth as well as switching...

This paper develops a quantitative general equilibrium model to assess the growth effects of adopting a flat tax plan similar to the one proposed by Hall and Rabushka (1995). Using parameters calibrated to match the progressivity of the U.S. tax schedule and other features of the U.S. economy,...

In this paper fiscal policy is defined through the totality of government decisions in which it builds and shapes the state's fiscal system, in line with the financial - monetary objectives and expectations, drawing on the resources needed to cover public expenditure. Also addressing the tax...

Global economy was significantly affected by the global financial crisis and especially the budget balance of all countries. Sovereign debts cause the lack of stability and the shift of monetary policy. This paper is about the recent evolutions in euro zone and its perspectives. The Euro break...

A part of the empirical literature seems to support the view that international differences in corporate taxation are important determinants of FDI location, while another part argue that FDI are attracted by the business environment, without taking into consideration any directly or indirectly...

Global economy was significantly affected by the global financial crisis and especially the budget balance of all countries. Starting with 2008 the global economy has been confronting the deepest economic downturn since the Great Recession in 1930. The crisis had a high level of synchronization,...

Presented at the Inaugural meeting of the Global Society of Fellows of the Global Interdependence Center, Banque de France, Paris, France, March 26, 2012

Presented at the U.S. Monetary Policy Forum, The Initiative on Global Markets University of Chicago Booth School of Business, New York, New York, February 24, 2012

When governments analyze tax policies aimed at attracting investment, they typically rely on a variable called the marginal effective tax rate (METR) on capital. The METR is a measure of the effective tax burden on new business investment. Recent Ontario budgets have presented estimates of the...