This paper compares constraints on the public debt with constraints on the primary deficit. The analysis takes into account how an optimizing government reacts to the different constraints when deciding on a spending and borrowing plan. We find that the economy behaves similarly under both...

In a competitive two-country overlapping generations model with perfect capital mobility, a plan that is individually Pareto optimal (that is Pareto optimal with respect to individual preferences) can be sustained without coordination of national fiscal policies where the fiscal arsenal is...

Notwithstanding serious conceptual problem in its measurement, the equivalence scale is a parameter with considerable policy importance in view of its use in welfare comparisons across households. This paper investigates the sensitivity of the estimated scale to models and commodities.

The 21st century will be very important for China. In this century, China will strive for the achievement of modernisation, while improving the welfare of its huge population which will peak during this time. Xinjiang will supply more than one quarter of oil and gas production for China; it will...

This study uses Indian unit record data from expenditure and employment surveys, in conjunction with State level indicators, to (a) investigate whether the backward classes and female headed households face higher poverty rates than other, and (b) examine the impact of poverty, along with a host...

This paper compares, using Australian unit record data, income and expenditure inequalities over the period 1975/76 to 1993/94. The study finds inconsistencies between the two inequality movements over much of this period. We, also, observe differences in the nature of income and consumption...