This paper presents an overview of recent U.S. fiscal developments and discusses possible implications of the sharp turn around in the government’s fiscal position. Against this back ground, it also reviews key policy challenges that will need to be addressed to cope with the mounting...

The government of Nicaragua has worked toward adopting the necessary economic measures to put the country’s economy on the course of fiscal sustainability and those that guarantee transparent and austere management, not affecting the most vulnerable population. The government has managed...

Fiscality and taxes, among their role as main source of public incomes, were sometimes invoked as cause in releasingthe economic crisis, other times as effect in their quality as object of going out from crisis.

The current government has succeeded in reorienting economic policies after a series of shocks and an initial weak policy response. Revised real GDP growth targets are feasible with sustained prudent macroeconomic policies and institutional reforms. The medium-term macroeconomic framework...

This Poverty Reduction Strategy Paper for Nicaragua reports that the most pressing demand for the majority of Nicaraguans is employment generation and economic growth. The National Development Plan (NDP) gives priority to actions that improve the investment climate and promote productive...

The introducing of the government bill about the enforcement of the constitutional section 119 (fiscal federalism) seems to be imminent. In the nearly prevalent formulation it's asserted federalism represents wide self-government of the local authorities, causing higher gaps between poor...

James Buchanan pioneered the political economics of public debt 60 years ago. In this paper, we contrast his thinking of the burden of debt, the public choice mechanisms that lead to excessive debt and the demand for constitutional restraints on public debt with its development, its...

Abstract This paper suggests that there exists a neglected third branch of Chicago price theory, which includes Armen Alchian (1914–2013), James Buchanan (1919–2013), and Ronald Coase (1910–2013). While this branch shares characteristics that are common to the other branches of Chicago...