There are seven inseparable storylines about the role of science and learning for both democracy and its governance. National accounting and statistics originated around 1890 from political economy and the management of the state (Dutch “staathuishoudkunde”). Decades later national economic...

The Galician economy continues with its positive path in the third quarter of the year taking into account the evolution of real GDP, employment and unemployment. On the one hand, the dynamism of the productive activity, with increasingly high positive interannual variation rates, translates...

The Galician economy accelerated its dynamism throughout 2016, achieving an average growth of 3.1% with respect to the previous year, the highest since 2007. In contrast with what happened the previous year, Galicia and Spain approach to both internal and external demand. In the last year the...

This article presents new monthly estimates of the gross fixed capital formation of the Brazilian general government for the 2002-2010 years. A significant research effort was made to carry out the estimations. First, the many differences between the concepts of public investment (as used in the...

We document the immediate and permanent impoverishment effect derived from the pure accounting of cutting government expenditure. We calculate the size of this effect for European countries during the fiscal consolidation occurred in 2008-11 and for the next 20 years. The results suggest that...

In this paper we discuss the actual and civilizational role of the state and its management. The MBO and the same OECD accounts-financial models are not recommended.With an comparative analysis we conclude for the necessity of a more organics and strategic models of governance and not...

Over the past seven years, the DIG and DIGNAR models have complemented the IMF and World Bank debt sustainability framework (DSF) analysis, over 65 country applications. They have provided useful insights in the context of program and surveillance work, based on qualitative and quantitative...

Resilience to climate change and natural disasters hinges on two fundamental elements: financial protection -insurance and self-insurance- and structural protection -investment in adaptation. Using a dynamic general equilibrium model calibrated to the St. Lucia's economy, this paper shows that...

The level and trend in cash use in a country will influence the demand for central bank digital currency (CBDC). While access to digital currency will be more convenient than traveling to an ATM, it only makes CBDC like a bank debit card-not better. Demand for digital currency will thus be weak...

This paper develops a dynamic general equilibrium model to assess the effects oftemporary business tax cuts. First, the analysis extends the Ricardian equivalence result toan environment with production and establishes that a temporary tax cut financed by afuture tax-increase has no real effect...