This paper summarizes the basic principles that should form the basis of fiscal policy. These principles encompass decisions on the functions of government, its spending, and the financing of its spending that affect economic growth, employment, inflation, and economic welfare. Although the...

Petroleum product subsidies have again started to increase with the rebound in international prices. This note reviews recent developments in subsidy levels and argues that reforming the policy framework for setting petroleum product prices is necessary to reduce the fiscal burden of these...

This paper reviews the current state of the pension system in India, as well as plans to reform it. Problems with the current system are identified, and, within this context, the appropriate role of the government in retirement saving is discussed. Finally, the OASIS reform proposal is evaluated...

Studies of the empirical relationship between income and mortality often rely on data aggregated by geographic areas and broad population groups and do not distinguish disabled and nondisabled persons. We investigate the relationship between individual mortality and lifetime income with a large...