A partly heuristic attempt at exploring long-run policies aimed at a second-best compromis between ex ante risk-sharing efficiency and ex post productive efficiency. Wage subsidies for low-skilled workers financed vy taxes on high wages are advocated, together with imposed risk sharing between...

The present study uses a computable general equilibrium model to analyse and compare the impact of the fiscal reform proposed in the central African customs and economic union, within the framework of trade liberalization, on the economic performances and welfare of the population of Cameroon...

In this paper, we analyze government budget balance within a simple model of endogenous growth. For the AK model, simple analytical conditions for a tax cut to be self-financing can be derived. The critical variable is not the tax rate per se, but the transfer-adjusted tax rate. We discuss some...

This paper examines the relationship between private investment and government spending in Australia, Britain and the United States. Since all time series data are stationary in first differences and cointegrated, these series are represented by an error correction model. Variance decomposition...

Many analysts expect the aging population to lead to a reduction in the growth of living standards. Income inequality – a problem that has been accentuated by the payroll tax hikes that were necessary to fund the public pension as the population ages – is becoming an increasing challenge at...

AGEFIS (Applied General Equilibrium model for FIScal Policy Analysis) is a Computable General Equilibrium (CGE) model designed specifically, but not limited, to analyze various aspects of fiscal policies in Indonesia. It is yet, the first Indonesian fully-SAM-based CGE model solved by Gempack....

This paper reviews the existing empirical evidence on the short-term impact on prices of fiscal variables and assesses it against new results from harmonised simulations, conducted with six well-established econometric models used by the ECB and five national central banks (NCBs) of the...

Among the harmful effects of inflation, the negative consequences of inflation volatility are of particular concern. These include higher risk premia, hedging costs and unforeseen redistribution of wealth. This paper presents panel estimations for a sample of OECD countries which suggest that...

In this paper, we revisit the effects of government spending shocks on private consumption within an estimated New-Keynesian DSGE model of the euro area featuring non-Ricardian households. Employing Bayesian inference methods, we show that the presence of non-Ricardian households is in general...