Public Finance and Low equilibria in transition economies: the role of institutions
Author : Daniel Daiana and Radu Vrunceanu
Publisher :
Page : 33 pages
File Size : 11,11 MB
Release : 2000
Category :
ISBN :
Author : Daniel Daiana and Radu Vrunceanu
Publisher :
Page : 33 pages
File Size : 11,11 MB
Release : 2000
Category :
ISBN :
Author :
Publisher :
Page : 12 pages
File Size : 20,35 MB
Release : 2000
Category :
ISBN :
Author : Peter Birch Sorensen
Publisher : Springer
Page : 315 pages
File Size : 32,60 MB
Release : 1998-04-15
Category : Business & Economics
ISBN : 1349143367
This non-technical volume analyses topical problems of public finance in a changing world characterized by growing mobility of production factors, liberalized economic policy regimes, and the formation of new nations. It discusses alternative views of government and the way we measure its activities; the modern welfare state and its impact on entrepreneurship and employment; issues of fiscal coordination and income redistribution in a world with many jurisdictions; and the problems of raising government revenue and of allocating property rights in transition economies.
Author : Simon Commander
Publisher : World Bank Publications
Page : 28 pages
File Size : 48,5 MB
Release : 1996
Category : Desempleo - Paises en desarrollo
ISBN :
Author : Richard Miller Bird
Publisher : World Bank Publications
Page : 92 pages
File Size : 20,49 MB
Release : 1993
Category : Decentralization in government
ISBN :
Designing a well-functioning intergovernmenal fiscal system is essential to the success of all the transitional economies' major reform goals: privatization, macroeconomic stability, more efficient performance and economic growth, and an adequate social safety net.
Author : David E. Wildasin
Publisher : World Bank Publications
Page : 42 pages
File Size : 29,9 MB
Release : 1997
Category : Bailouts (Government policy)
ISBN :
Author : Lionel Halpern
Publisher : International Monetary Fund
Page : 40 pages
File Size : 24,56 MB
Release : 1996-11-01
Category : Business & Economics
ISBN : 145185479X
A stylized fact of the transition process is an early profound exchange rate depreciation followed by continuing real appreciation. Absent historical reference points, it is difficult to judge whether the real appreciation is threatening competitiveness. This paper interprets the stylized facts and offers estimates of the equilibrium real exchange rate based on an international comparison of dollar wages and on a study of the dynamics of real exchange rates in several transition economies. The results suggest that the process of real appreciation is a combination of a return to equilibrium following the early overshooting and equilibrium appreciation.
Author : Micael Castanheira
Publisher :
Page : 40 pages
File Size : 47,22 MB
Release : 1996
Category : Capitalism
ISBN :
Author : Taras Pushak
Publisher :
Page : 36 pages
File Size : 29,85 MB
Release : 2007
Category : Developing countries
ISBN :
This paper revisits the early empirical literature on economic growth in transition economies, with particular focus on fiscal policy variables-fiscal balance and the size of government. The baseline model uses a parsimonious specification, drawn from Fischer and Sahay (2000), of economic growth as a function of initial conditions, stabilization, liberalization, and structural reform. The paper expands the data used in previous analyses by up to 10 years and finds unambiguous evidence that fiscal balance matters for growth, while confirming other previous findings on the correlates of economic growth in transition economies. In addition, the paper extends the baseline model and explores potential sources of nonlinearities in the relationship between growth and public finance. A key finding is that determinants of growth may vary in relative importance, depending on the underlying institutional quality. The evidence indicates that there could be higher growth payoffs from macroeconomic stability and public expenditure in countries characterized by relatively better public sector governance as measured by relevant indicators. In addition, the size of government matters for growth in a nonlinear manner: Beyond indicative thresholds of expenditure levels, public spending has a negative impact, while at levels below the threshold, there is no measurable impact on economic growth.
Author : Narayana R. Kocherlakota
Publisher : Princeton University Press
Page : 230 pages
File Size : 31,98 MB
Release : 2010-07-01
Category : Business & Economics
ISBN : 1400835275
Optimal tax design attempts to resolve a well-known trade-off: namely, that high taxes are bad insofar as they discourage people from working, but good to the degree that, by redistributing wealth, they help insure people against productivity shocks. Until recently, however, economic research on this question either ignored people's uncertainty about their future productivities or imposed strong and unrealistic functional form restrictions on taxes. In response to these problems, the new dynamic public finance was developed to study the design of optimal taxes given only minimal restrictions on the set of possible tax instruments, and on the nature of shocks affecting people in the economy. In this book, Narayana Kocherlakota surveys and discusses this exciting new approach to public finance. An important book for advanced PhD courses in public finance and macroeconomics, The New Dynamic Public Finance provides a formal connection between the problem of dynamic optimal taxation and dynamic principal-agent contracting theory. This connection means that the properties of solutions to principal-agent problems can be used to determine the properties of optimal tax systems. The book shows that such optimal tax systems necessarily involve asset income taxes, which may depend in sophisticated ways on current and past labor incomes. It also addresses the implications of this new approach for qualitative properties of optimal monetary policy, optimal government debt policy, and optimal bequest taxes. In addition, the book describes computational methods for approximate calculation of optimal taxes, and discusses possible paths for future research.