"Like other recent studies, we find the existence of a political deficit cycle in a large cross-section of countries. However, we find that this result is driven by the experience of new democracies'. The strong budget cycle in those countries accounts for the finding of a budget cycle in larger...

This study examines the sources of uncertainty in predicting government tax revenues in Israel. In the first stage, we estimate a model based on several real and financial macroeconomic variables and identify a significant, stable and highly accurate relation between these variables and tax...

In this study we estimate the effect of changes in the employee's offered wage – which is influenced by macroeconomic developments and changes in tax rates – on working hours, accounting for changes in the employee's personal circumstances (family status and composition, entering or exiting...

This study examines the desired parameters for the institution of an earned income tax credit (EITC) – a subsidy for low wage earners – in Israel. The goal of the system would be to encourage individuals with low earning potential to enter the labor market and to reduce poverty among...

We examine the effect of monetary and fiscal policies on yields on short and long-term indexed bonds, in view of the crucial importance of these yields for economic activity. We extend the current literature dealing with the same question by providing evidence about a period in which the...