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The McKenna rule and UK World War I finance

Nason, James M.; Vahey, Shaun P. - 2007

The United Kingdom employed the McKenna rule to conduct fiscal policy during World War I (WWI) and the interwar period. Named for Reginald McKenna, Chancellor of the Exchequer (1915–16), the McKenna rule committed the United Kingdom to a path of debt retirement, which we show was...

Persistent link: https://www.econbiz.de/10010292227

Intertemporal budget policies and macroeconomic adjustment in a small open economy

Fisher, Walter H.; Bianconi, Marcelo - 2001

This paper analyzes the role of nominal assets in ranking intertemporal budget policies in a growing open economy. The budget policies are ranked in terms of the public's intertemporal stock of tax liabilities. Our main result is that, in a small open economy, the valuation of private and public...

Persistent link: https://www.econbiz.de/10010292787

Taxing deficits to restrain government spending and foster capital accumulation

Stähler, Nikolai - 2007

In a dynamic model of fiscal policy, social polarization provokes a deficit bias. Policy advisors have recently proposed that governments running a deficit should be forced to generate additional tax revenue. We show that this deficit taxation reduces the deficit bias as it internalizes the...

Persistent link: https://www.econbiz.de/10010295863

Finanz- und Steuerpolitik nach der Krise - sind die Weichen richtig gestellt?

Heise, Arne - 2010

Persistent link: https://www.econbiz.de/10010302520

What are the effects of fiscal policy shocks? A VAR-based comparative analysis

Caldara, Dario; Kamps, Christophe - 2008

The empirical literature using vector autoregressive models to assess the effects of fiscal policy shocks strongly disagrees on even the qualitative response of key macroeconomic variables to government spending and tax shocks. We provide new evidence for the U.S. over the period 1955-2006. We...

Persistent link: https://www.econbiz.de/10011604923

Monetary and fiscal policy aspects of indirect tax changes in a monetary union

Lipińska, Anna; von Thadden, Leopold - 2009

In recent years a number of European countries have shifted their tax structure more strongly towards indirect taxes, motivated, inter alia, by the intention to foster competitiveness. Against this background, this paper develops a tractable two-country model of a monetary union, characterised...

Persistent link: https://www.econbiz.de/10011605143

Reformoptionen für die Grundsteuer B: Eine empirische Analyse der Belastungswirkungen

Fuest, Clemens; Immel, Lea; Meier, Volker; Neumeier, Florian - In: ifo Schnelldienst 71 (2018) 22, pp. 23-29

. Die Forschungsgruppe Steuer- und Finanzpolitik des ifo Instituts hat die Reformvorschläge, die diskutiert wurden und …

Persistent link: https://www.econbiz.de/10012018016

Sprudelnde Einnahmen, große Herausforderungen – Erwartungen an eine zukunftsfähige Steuer- und Finanzpolitik

Peteranderl, Franz Xaver; Fuest, Clemens; Pschierer, … - In: ifo Schnelldienst 71 (2018) 06, pp. 3-17

Die Steuer- und Finanzpolitik legt die Grundlagen für eine erfolgreiche Aufgabenerfüllung des Staates. Wie wird in den … nächsten Jahren die Steuer- und Finanzpolitik gestaltet werden? Wo liegen die Probleme? Wo sehen Wissenschaft, Handwerk und … – Erwartungen an eine zukunftsfähige Steuer- und Finanzpolitik«. Der Präsident des Bayerischen Handwerkstages, Franz Xaver …

Persistent link: https://www.econbiz.de/10011885909

Spend-and-tax adjustments and the sustainability of the government's intertemporal budget constraint

Legrenzi, Gabriella Deborah; Milas, Costas - 2010

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/10010266076

The impact of fiscal policy on profits

Katsimi, Margarita; Sarantides, Vassilis - 2009

This paper investigates the impact of fiscal policy on profits using panel data for 19 high-income OECD countries during the period 1975-1999. We estimate a profit equation in which profits depend on a set of fiscal variables. Our empirical method is based on a consistent treatment of the...

Persistent link: https://www.econbiz.de/10010274386

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