En este artículo se describen los dos regímenes de pensiones extremos que se aplican actualmenteen el mundo: el de reparto simple y el de capitalización individual y se analizan sus efectossobre el ahorro, la inversión, crecimiento económico, empleo y bienestar, así como también...

Using fiscal reaction functions for a panel of actual euro-area countries the paper investigates whether euro membership has reduced the responsiveness of countries to increases in the level of inherited debt compared to the period prior to succession to the euro. While we find some evidence for...

This Working Paper presents an overview of structural budget balance models and the adjustments most relevant for Australia. Three models (the OECD model, the IMF model and Treasury’s previously published model in the Australian Government’s 2009-10 Budget and McDonald et al (2010)) are...

Using fiscal reaction functions for a panel of actual euro-area countries the paper investigates whether euro membership has reduced the responsiveness of countries to increases in the level of inherited debt compared to the period prior to succession to the euro. While we find some evidence for...

In this paper, we examine the effectiveness of government spending on private-sector job growth. Rather than contemplate the average or typical effect of government stimulus on private-sector jobs, we divide the past fifty years of U.S. economic history into low-growth and high-growth periods....

The goal of this study is to analyze the evolution of government gross debt as a % of the GDP and government deficit as a % of the GDP across European countries. In particular, this study compares the evolution of government gross debt as a % of the GDP of European countries within and outside...

Using fiscal reaction functions for a panel of actual euro-area countries the paper investigates whether euro membership has reduced the responsiveness of countries to increases in the level of inherited debt compared to the period prior to succession to the euro. While we find some evidence for...

This Note endeavors to illustrate the relevance of the impact of the budget deficit upon the interest rate to the issue of crowding out. It is argued that empirical studies of the impact of deficits upon interest rates may be very useful in det­ermining whether (and how) crowding out occurs,...

This brief Note provides strong empirical evidence that federal govern­ment deficits can indeed have a positive and significant impact upon short­ term interest rates; the findings in this paper thereby establish another mechanism for the transmission of crowding out. This study differs from...

Open and participatory budget making is imperative for good governance; yet by international standards India fares badly on this count. this article analyses the process of budget preparation and suggests how it can be made more transparent and participatory