Academic literature on the topic 'Fiscal polices'
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Journal articles on the topic "Fiscal polices"
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Abdelrehim, Mahmoud, Hisham Dato Haji Yahya, Lau Wei Theng, and Matemilola Bolaji Tunde. "Historical econometric analysis of the fiscal discipline determinants in the African countries." OOO "Zhurnal "Voprosy Istorii" 2023, no. 8-1 (August 1, 2023): 164–83. http://dx.doi.org/10.31166/voprosyistorii202308statyi24.
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The signing of the Bretton Woods Agreement led the world towards a global economic liberalization system. This study aims to investigate the historical economic determinants of the fiscal discipline especially the interaction effect between the depreciation movements and the trade openness polices in the African countries. Surprisingly, the results demonstrated that the depreciation movements do not always success to achieve the fiscal discipline when the trade openness policies moderating this relationship.
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Wuyao, Weng, and Zhang Yuqiao. "The fiscal and tax policies on the development of GMOs for agriculture in China: retrospect, status quo and prospect." Ecological genetics 20, no. 1S (December 8, 2022): 5. http://dx.doi.org/10.17816/ecogen112096.
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The authors study the fiscal and tax policies on GMOs for agriculture in China, mainly focusing on income tax and value added tax, in order to analyze how the polices implement Chinas GMO strategy in the field of agriculture, reflect the development history of GMOs for agriculture in China and give suggestions on perfection for future policies based on Chinas GMO strategy.
Firstly, the authors illustrate Chinas past and present strategy for GMO technology application. As a whole, China permits the technical research on GMOs for agriculture, promotes very cautiously the related industrialization, and attaches great importance to safety supervision.
Secondly, by examining the past and present fiscal and tax policies relating to the above-mentioned GMO strategy, the basic features of Chinas policies are as follows: in terms of fiscal policy, the financial funds have been invested in GMO development and supervision in a bidirectional and balanced way; in terms of tax policy, there are some tax incentives, but the ones solely for GMO development and supervision are few.
Finally, the fiscal and tax policies are important and necessary tool to implement GMO strategy. Chinas future fiscal and tax policies need to be adapted to the future GMO strategy at issue.
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Barrell, Ray. "Fiscal Policy in the Longer Term." National Institute Economic Review 217 (July 2011): F4—F10. http://dx.doi.org/10.1177/0027950111420944.
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Governments are important players in many parts of the economy, and at present perhaps the most visible is the balance they set between taxing and spending. Tax and spending polices are in part designed to redistribute resources between individuals, but they can also be used to redistribute resources over time. Governments can also use tax and spending policies to sustain or restrain economic activity, and in most countries a case can be made for using active fiscal policy in periods of clear economic distress, or in periods when it would be useful to restrain imbalances that can lead to financial crises. As a result it is difficult to gauge the appropriate stance of policy. Short-run problems have to be balanced against longer-term needs, and mistakes are common. In the UK, for instance, in the six years up until 2008 the balance of policy was perhaps too loose, whilst over the next five years it is probably too tight, even though deficits are projected to be higher than they were before 2009.
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Marszałek, Paweł. "Coordination of monetary and fiscal policy." Economics and Business Review 3, no. 2 (December 30, 2003): 41–52. http://dx.doi.org/10.18559/ebr.2003.2.497.
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To achieve price stability, coordination of monetary and fiscal polices is required. The importance of coordination results from such premises as understanding the interdependence between monetary and fiscal policy, the role of central bank independence, the instruments-targets relation and financial stability as well. The lack of coordination will result in inferior overall economic performance, whereas providing it will give a better outcome for both policymakers. Therefore, coordination may be treated as the necessary condition for achieving price stability. (original abstract)
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Marcussi Pontes, Rúbia. "A gestão da crise financeira de 2008 pela China: o papel do Estado na implementação de políticas anticíclicas e desafios subsequentes." Brazilian Journal of International Relations 7, no. 1 (May 27, 2018): 202–23. http://dx.doi.org/10.36311/2237-7743.2018.v7n1.01.p202.
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O caráter sistêmico da crise financeira e econômica de 2008 demandou que rápidas políticas fossem implementadas pelos Estados para contrabalancear o alto nível de incerteza, a iliquidez e a queda na demanda agregada. Nesse sentido, a atuação da República Popular da China é considerada um caso extremamente relevante de estudo a partir do conjunto de medidas anticíclicas adotadas principalmente a partir de uma política fiscal ativa. O presente artigo busca, portanto, investigar o papel do Estado chinês na gestão da crise recente a partir da perspectiva Minskyana, reforçando a importância do big government e do big bank para a rápida recuperação econômica chinesa – embora não sem novos desafios.
Palavras-chave: crise financeira e econômica, China, políticas públicas anticíclicas, big government, big bank.
Abstract: The systemic effects of the financial and economic crisis of 2008 required the quick implementation of public polices to counterbalance the high level of uncertainty, illiquidity and the fall in the aggregate demand. The response of the Popular Republic of China is considered unique and worthy of investigation regarding the implementation of anti-cyclical public polices, with highlight to the role of its active fiscal police. Therefore, this articles aims to investigate the role of the Chinese state in the crisis management within Minsky’s perspective, recalling the importance of the big government and of the big bank for the quick economical response of China – although not without upcoming challenges.
Keywords: financial and economic crisis, China, anti-cyclical public policies, big government, big bank.
Recebido em: dezembro/2017.
Aprovado em: abril/2018.
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Shin, Geiguen, and Jeremy L. Hall. "Exploring the Influence of Federal Welfare Expenditures on State-Level New Economy Development Performance: Drawing From the Diffusion of Innovation Theory." Economic Development Quarterly 32, no. 3 (June 6, 2018): 242–56. http://dx.doi.org/10.1177/0891242418778115.
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Functional theory suggests that each level of government expands in the arena in which it can best perform, reducing the price of federalism. Focusing on the functional pattern of American federalism, we suggest that increased federal welfare spending increases state government performance in the “new economy” development policy areas by helping states minimize welfare costs and divert more own-source resources into economic development. The central focus is on the direct and indirect empirical relationships between federal welfare spending and state new economy performance. The authors use an index of innovation capacity that reflects the cumulative performance of a myriad of overlapping and mutually dependent state policies intended to bring about new economy development; this index measures state new economy development performance by focusing on the observable outputs of such polices rather than the adoption, implementation, or substance of individual policy choices. Mediating variables, such as state fiscal comfort and administrative capacity, measure the indirect impact of federal welfare spending on state new economy performance. The authors find that federal welfare spending stimulates state new economy development directly, but also indirectly through its positive impact on both state fiscal comfort and administrative capacity. The findings suggest that federal intergovernmental transfers continue to be an important policy mechanism with spillover effects for state economies.
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Chowdhury, Mohammad Munayem. "TAX INCENTIVES AND INDUSTRIAL DEVELOPMENT IN BANGLADESH: AN EVALUATION OF POLICY IMPACT ON SECTORAL GROWTH." International Journal of Research -GRANTHAALAYAH 7, no. 7 (July 31, 2019): 321–30. http://dx.doi.org/10.29121/granthaalayah.v7.i7.2019.770.
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Tax incentives are tools used worldwide to enhance domestic and foreign investment and enhanced investment leads to expected economic growth. This study is an attempt to review the industrial policies and direct tax incentives of Bangladesh to have a deep insight on the congruence among them and also show some indirect impact of tax incentives on development through analyzing some fiscal and investment data. Content and document analysis method has been used to accomplish this study. Sources of data were the industrial policies, tax codes and economic surveys of Bangladesh and some scholarly articles. By reviewing some tax related aspects of industrial polices and existing direct tax incentives provided by the tax authority, it was found that incentives suggested by industrial policies and actually provided tax incentives are almost same and the changing pattern of priority sectors have been shifted to infrastructure, power and technology sectors. By observing some investment and GDP related data it is found that local private sector investments are dominant over FDI and the manufacturing sectors contribution to GDP are increasing and consistent in last 13 years.
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Nasir, Zafar Mueen, and Arshad Hassan. "Economic Freedom, Exchange Rates Stability and FDI in South Asia." Pakistan Development Review 50, no. 4II (December 1, 2011): 423–33. http://dx.doi.org/10.30541/v50i4iipp.423-433.
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This study empirically examines the role of economic freedom, market size and exchange rates in attracting foreign direct investment in south Asian countries for the period 1995-2008 by employing panel data analysis in fixed effect setting. Results clearly indicate the presence of significant positive relationship between economic freedom and FDI inflows in South Asian countries during the period of study. The real effective exchange rate was having negative association with it indicating that depreciation in host country currency negatively influences the inflow of FDI to that country. Therefore, monetary policy should focus on providing stability to currencies of host countries. The model explains approximately 90 percent of total variation in FDI. The paper concludes that South Asian countries should make concerted efforts in devising polices that improve level of economic freedom. In other words, they should provide more investment friendly climate, trade openness, efficient monetary and fiscal policies and freedom from corruption. This can help to attract more foreign direct investment in the South Asian countries.
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Ganem, Roseli Senna, José Augusto Drummond, and José Luiz de Aandrade Franco. "Conservation polices and control of habitat fragmentation in the Brazilian Cerrado biome." Ambiente & Sociedade 16, no. 3 (September 2013): 99–118. http://dx.doi.org/10.1590/s1414-753x2013000300007.
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The Brazilian Cerrado is the most bio-diverse and threatened savannah on the planet. This biome has already lost 48.2 percent of its original floral cover and is being affected by an intense process of habitat fragmentation. The purpose of this article is to verify if and how governmental and non-governmental conservation measures are protecting the remaining native Cerrado vegetation and whether these measures are encouraging connectivity. Results show that the effects of conservation units are limited, since only 3.1 percent of the biome is within fully protected areas. It was also found that public agencies are much more involved in conservation planning than actions in the field. Conservation projects are often implemented in the same territories, leading to the squandering of resources and ineffective results. Another problem is that many projects are dependent on international organizations and resources. Conservation initiatives in areas under private ownership are rare and economic or fiscal incentives that support such initiatives are sporadic and inadequate. The article concludes by suggesting that the Cerrado should become the focus of specific conservation policies, integrating governments, civil society and economic sectors and actors, especially farmers.
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Harwit, Eric. "Building China's Telecommunications Network: Industrial Policy and the Role of Chinese State-Owned, Foreign and Private Domestic Enterprises." China Quarterly 190 (June 2007): 311–32. http://dx.doi.org/10.1017/s030574100700121x.
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AbstractThis article uses theories of industrial policy to analyse the growth of China's telecommunications equipment industry over the past 20 years. It highlights the role of the Chinese government in shaping the sector, by first utilizing imported equipment, then promoting Sino-foreign joint ventures and finally fostering domestic companies. Significantly, the government encouraged market competition, and avoided the pitfall of monopoly state control. Today, key telecommunications players include joint ventures, state-owned companies and even a major Chinese private corporation. The article concludes that the government's fiscal and regulatory industrial polices were successful, in that they rapidly built a modern communications network while promoting a vibrant free-market competitive environment.
Dissertations / Theses on the topic "Fiscal polices"
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Kothari, S. S. "Reform of Fiscal polices for developing economics(with special reference to India)." Thesis, University of North Bengal, 1996. http://hdl.handle.net/123456789/287.
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OKAMURA, Makoto, and Nobuhiro MORI. "Fiscal Efficiency of Government Policies." 名古屋大学大学院経済学研究科, 2013. http://hdl.handle.net/2237/17777.
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Kihaule, Arnold Mathias. "Fiscal adjustment policies and fiscal deficit: the case of Tanzania." Thesis, Curtin University, 2006. http://hdl.handle.net/20.500.11937/53.
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In Tanzania, fiscal adjustment policies emphasized an increase in tax revenue and cuts in public spending to correct the fiscal deficit. However, adjustment policies restricted the impact of fiscal policies in correcting fiscal deficit because they led to a low GDP growth and narrowed the tax base. The government overlooked the need to have an alternative tax base that could compensate for the fall in GDP growth. In that respect, the main purpose of this study is to examine the impact of fiscal adjustment policies in correcting the fiscal deficit in Tanzania in different adjustment periods in the 1973-2000 period. The thesis adopts a country study approach to analyse the effect of changes in the tax structure on the fiscal position using the primary balance as a proxy. The study also uses time series econometric methods to examine the impact of economic policy regime changes on public spending and GDP growth and the implications for fiscal policy in Tanzania. The study finds that changes in macroeconomic conditions either temporarily expanded or narrowed the tax bases and influenced the correction of the fiscal deficit in different years. Fiscal adjustment policies were pro-cyclical, thus leading to low GDP growth. This limited the effect of changes in the tax structure in reducing the fiscal deficit. Lastly, policy regime changes led to public spending instability and a structural break in the GDP data series. This signified that economic policy reforms caused fundamental changes in the economy, with implications for macroeconomic and fiscal policies in Tanzania. In sum, the results suggest that pro-cyclical policies are harmful for countries pursuing fiscal adjustment policies to correct a fiscal deficit.
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Kihaule, Arnold Mathias. "Fiscal adjustment policies and fiscal deficit : the case of Tanzania /." Curtin University of Technology, School of Economics and Finance, 2006. http://espace.library.curtin.edu.au:80/R/?func=dbin-jump-full&object_id=16585.
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In Tanzania, fiscal adjustment policies emphasized an increase in tax revenue and cuts in public spending to correct the fiscal deficit. However, adjustment policies restricted the impact of fiscal policies in correcting fiscal deficit because they led to a low GDP growth and narrowed the tax base. The government overlooked the need to have an alternative tax base that could compensate for the fall in GDP growth. In that respect, the main purpose of this study is to examine the impact of fiscal adjustment policies in correcting the fiscal deficit in Tanzania in different adjustment periods in the 1973-2000 period. The thesis adopts a country study approach to analyse the effect of changes in the tax structure on the fiscal position using the primary balance as a proxy. The study also uses time series econometric methods to examine the impact of economic policy regime changes on public spending and GDP growth and the implications for fiscal policy in Tanzania. The study finds that changes in macroeconomic conditions either temporarily expanded or narrowed the tax bases and influenced the correction of the fiscal deficit in different years. Fiscal adjustment policies were pro-cyclical, thus leading to low GDP growth. This limited the effect of changes in the tax structure in reducing the fiscal deficit. Lastly, policy regime changes led to public spending instability and a structural break in the GDP data series. This signified that economic policy reforms caused fundamental changes in the economy, with implications for macroeconomic and fiscal policies in Tanzania. In sum, the results suggest that pro-cyclical policies are harmful for countries pursuing fiscal adjustment policies to correct a fiscal deficit.
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Hajdukovic, Ivan. "Essays on Fiscal and Monetary Policies." Doctoral thesis, Universitat de Barcelona, 2021. http://hdl.handle.net/10803/672399.
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The general objective of the doctoral thesis is to evaluate the effects of macroeconomic policies on the economy and the environment. Chapter 2 examines the composition of fiscal policy and its transmission mechanisms on various macroeconomic aggregates in open economies. Chapter 3 examines the transmission mechanisms of conventional and unconventional monetary policies on the macroeconomic aggregates in open economies. Chapter 4 explores the interactions among macroeconomic policies, the energy market and environmental quality. The analysis of the effects of fiscal and monetary policies on the economy and the environment is conducted using the structural vector autoregressive (VAR) methodology. This procedure is suitable when the variables of interest are endogenous, which is typically the case with macroeconomic and environmental variables. Structural VAR models allow to examine the dynamic interactions among the variables and feedback effects, through the impulse response functions and the variance decomposition.
Chapter 2 provides a detailed examination on the composition of fiscal policy and its transmission mechanisms on various macroeconomic aggregates for two Anglo-Saxon countries, the United States and the United Kingdom, over the period 1964-2017. While research on fiscal policy has been substantial, the study of the transmission mechanisms and effects of tax revenue and government spending components in an open economy framework has received less attention. This chapter contributes to the literature on the disaggregated analysis of fiscal policy in open economies. We examine the composition of fiscal policy by asking whether government spending disaggregation matters for the transmission of fiscal policy on the macroeconomic aggregates. In addition, the chapter explores the role of the exchange rate and the trade balance in the transmission of shocks to tax revenue and government spending components. We estimate the effects of disaggregated fiscal policy shocks on the macroeconomic aggregates. Using the recursive approach, we identify a tax revenue and a government spending component shock that rotates between (i) government non-wage consumption (ii) government wage consumption (iii) public investment. The conducted analysis reveals that the disaggregation of fiscal policy matters since each fiscal instrument implies different transmission channels and effects on the real economy. It therefore seems essential to disaggregate government spending into its main components to uncover significant and different patterns that an aggregated analysis cannot reveal. However, as expected, the effects of government spending components on certain economic variables are weak and insignificant. In addition, our findings suggest that fiscal policy can be operative, besides the interest rate channel, via an exchange rate and trade balance channels. Considering an open economy framework is therefore essential since a part of the fiscal stimulus propagates abroad through external channels. The results occurring from this chapter have several policy implications. First, government non-wage consumption increases could have contractionary effects on the real economy as observed in the countries and the period considered in our analysis. Our findings also indicate that, as expected, public wage policies have a greater impact on the labor market than changes in the other components of government spending, while they have a relatively small effect on the output. Moreover, government efforts to stimulate the real economy through the increase in public investment should be accompanied by other types of macroeconomic policy instruments in order to offset the crowding out effect on private activity. Besides, the examination of tax revenue reveals different implications. In the United States, tax revenue cuts can stimulate economic activity and increase prices in the short run. In contrast, tax revenue cuts do not seem to be effective in stimulating the United Kingdom economy.
Chapter 3 examines the transmission mechanisms of conventional and unconventional monetary policies on the macroeconomic aggregates in open economies. While research on monetary policy has been substantial, less attention was given to the study of the role of stock prices and consumer expectations in the transmission of monetary policy. In addition, very few studies have analysed the effects of monetary policy in open economies outside the euro area. Taking this into account, the analysis is carried out for two non-EMU countries, Switzerland and the United Kingdom, over the period 1990-2017. First, we examine whether conventional monetary policy is operative, besides other well-known channels, via a stock price and consumer confidence channels. We then explore the role of long-term interest rates, exchange rates and stock prices in the transmission of unconventional monetary policy. The chapter proposes two distinct structural VAR models based on a novel specification. The baseline model for the case of conventional monetary policy covers the pre-2009 period and is estimated using quarterly data, while the baseline model for the case of unconventional monetary policy covers the post-2009 period and is estimated using monthly data. The official bank policy rate and central bank’s reserve assets are used as instruments for conventional and unconventional monetary policy. Considering stock prices is of key importance since monetary policy decisions have an impact on financing conditions and market expectations, thus leading to adjustments of asset prices. If central banks are forward looking, the monetary policy instrument cannot be properly identified unless expectations are taken into account. Our modelling approach consists in augmenting the structural VAR model with a forward-looking informational variable of near-term development in economic activity and several foreign exogenous variables to control for international spillovers. For the case of conventional monetary policy, the consumer confidence indicator is used since it contains important information used by central banks about consumer expectations as regards future economic conditions. For the case of unconventional monetary policy, the long-term government bond yields are used to capture consumer expectations about future short-term interest rates. The conducted analysis reveals that the inclusion of a forward-looking informational variable of near-term development in economic activity and a financial variable such as the stock prices are of key importance for the monetary policy assessment. We provide evidence for the existence of a consumer confidence channel in the transmission mechanism of conventional monetary policy. An expansionary policy enhances households’ perception with regards future economic conditions, which may result in a tendency to consumer more and save less. Thus, changes in consumer confidence can potentially amplify the effects of monetary policy on the real economy. Moreover, the results indicate that the long-term government bond yields have an important role in the transmission mechanism of unconventional monetary policy. Although these results have limited policy implications, they reveal the importance of considering these specific transmission channels and controlling for global supply and demand shocks in order to provide a comprehensive analysis of the effects of monetary policy. Overall, our findings indicate that conventional and unconventional monetary policies were effective in providing temporary stimulus to the economies of Switzerland and the United Kingdom during the considered periods.
Chapter 4 examines the interactions among macroeconomic policies, the energy market and environmental quality. These interactions and channels among them are studied through structural VAR models based on a macroeconomic framework including the energy market. This chapter builds on the growing literature analysing the links between macroeconomic policies and environmental variables. It examines for the first time how the implementation of macroeconomic policies, that aim to stimulate the economy, may also affect the quality of the environment along the business cycle and the specific role of energy markets as transmission channels. On the one hand, the chapter evaluates the implications of macroeconomic policies on the price of non-renewable energy and the use of both renewable and non-renewable energy. On the other hand, it assesses the influence of fiscal policy components, conventional and unconventional monetary policies on greenhouse gas emissions generated by the energy sector. The empirical analysis is conducted for Switzerland and the United Kingdom over the period 1990-2016. The geographical and physical characteristics of these two countries make them particularly vulnerable to global warming. For the case of monetary policy, the analysis is explicitly made on sub-periods since the implementation of quantitative easing can be viewed as a new monetary policy regime. The results occurring from Chapter 4 reveals several policy implications. Fiscal policy, besides its primary role in stabilizing economic activity, can contribute to the achievement of environmental sustainability. Our findings indicate that public investment is more efficient than government consumption in reducing non-renewable energy consumption and greenhouse gas emissions. The analysis of the composition of government spending seems crucial to establish how the different spending categories can complement the efforts to conserve natural resources, promote the use of clean energy and enhance environmental quality. On the other hand, the examination of monetary policy reveals that central banks should investigate the impact of their interventions on environmental quality through the renewable and non-renewable energy markets. In the United Kingdom, conventional monetary policy proves to be effective in promoting the deployment of renewable energies and reducing emissions. In Switzerland, central bank’s efforts to stimulate the real economy through the decrease in interest rates should be accompanied by more strict environmental regulations in order to offset the rise in emissions. Moreover, the conducted analysis reveals that unconventional monetary policy can lead to enhancements of environmental quality. However, as expected, quantitative easing is not by itself capable of substantially reducing emissions and other types of environmental policies need to be implemented jointly. Although monetary policy cannot yet be considered as a policy instrument for climate change and energy, central banks should incorporate environmental issues in their welfare maximization problem.
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Maleček, Petr. "Cross-Border Effects of Fiscal Policies." Doctoral thesis, Vysoká škola ekonomická v Praze, 2015. http://www.nusl.cz/ntk/nusl-199301.
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This study seeks to analyse and quantify cross-border effects of discretionary fiscal policies from two major points of view. The aggregate approach rests on the use of the structural vector autoregression model (SVAR) and its extension, the global vector autoregression model (GVAR). The discretionary fiscal impulse itself is then defined as a change in cyclically adjusted balance of the government sector, calculated at quarterly frequencies. This section is then complemented by a case study of a single measure: the German car scrapping scheme during 2009 and its effects on the Czech economy. It was found that cross-border effects of discretionary fiscal policies may be indeed present, in case certain conditions are met. Importantly, a fiscal impulse has to originate from a sufficiently large economy and there needs to be a tight trade linkage between examined countries. In most cases, cross-border effects have also been found of lesser magnitude than direct impacts of fiscal policies on the domestic country. Finally, as demonstrated on the German-Czech case, even a single fiscal measure can trigger substantial cross-border spillovers. It was estimated that this measure positively contributed to real GDP growth in 2009 in the Czech Republic by 0.44 pp.
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Dogbe, Wisdom. "Sustainable consumption: fiscal policies and household behaviour." Doctoral thesis, Universitat Politècnica de Catalunya, 2019. http://hdl.handle.net/10803/667983.
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The aim of this thesis is to investigate the influence of climate and health policies on personal well-being and the environment or both as well as how household behaviour influences the sustainability of health goals – prevalence of obesity. The most important contribution of this thesis is the application of new methods, use of experimental data and incorporation of national climate and health policy goals into our analysis. The thesis has six chapters, the first chapter deals with the introduction of the thesis whilst the last chapter summarizes the conclusion from the four main chapters comprising of four papers. The second Chapter investigates the effectiveness of carbon tax to promote climate-friendly food demand, welfare and diet quality in Spain. Tax policy scenarios were based on EU alternative social cost of emissions. Own- and cross-price elasticities of sixteen food groups were calculated from incomplete Exact Affine Stone Index (EASI) food demand system. Results show that price increases due to the tax reform reduces the consumption of the food products associated with higher CO2 equivalent emissions but improves diet quality. Even though the tax reform simultaneously improved both the environment and health, the tax was more regressive on low-income citizen’s welfare. The third Chapter investigates the effectiveness of a health tax reform on consumer welfare and diet quality. In this case, the tax policy scenario was based on internalizing the social cost of obesity in Spain. Using the 2012 Kantar homescan data, the EASI demand model was used to estimate nutrient price and expenditure elasticities. Results suggest marginal improvement in the quality of diet, although not in the very short term. Moreover, the consumption of health damaging nutrients such as saturated fatty acid, sodium, and cholesterol decreased tremendously. From the welfare perspective, all household segments had expenditure savings. In Chapter four the thesis took a behavioural perspective due to the marginal impact of the taxes on reducing the consumption of both environmental and health damaging foods. As a result, this chapter assessed the link between psychological attitudes such as risk attitudes, time inconsistencies and body mass index (to account for the prevalence of obesity) in Catalonia. Experimental data on consumer attitudes towards risk, time inconsistencies and sociodemographic characteristics were collated from a section of Catalonian households in 2014. Econometric approaches based on prospect theory and time discounting were used to estimate the risk and time parameters, respectively. The results support a strong influence of risk aversion on the development of body mass index. Furthermore, time inconsistencies significantly influence individuals propensity to increase body mass index. The fifth Chapter brings together all the covariates that influence the development of obesity by investigating the psychological, behavioural and socioeconomic drivers of obesity in Catalonia using path model analysis. Experimental data that elicited risk preferences, time inconsistencies, believes about obese persons, attitudes towards obesity, body perception, body image dissatisfaction and body mass index consumers were used. A multivariate path model was used to estimate the path parameters linking the covariates. Results suggest significant direct and indirect relationships between obesity and most variables. Obesity is also directly influenced by believe that obesity is controllable, correct body image and body image dissatisfaction. Second, significant indirect relationship was found between obesity and attitudes towards persons with obesity. Socioeconomic factors that have significant influence of obesity include age and gender. Risk attitudes did not have any direct or indirect effects on obesity.El objetivo de esta tesis doctoral es investigar la influencia de políticas climáticas y de salud sobre el bienestar personal y el medioambiente, así como, la forma en que el comportamiento de los hogares influye en la sostenibilidad de los objetivos de salud. La contribución principal de esta tesis es la aplicación de nuevas metodologías, el uso de datos experimentales y la incorporación de los objetivos de políticas nacionales de clima y salud en nuestro análisis. El presente documento se divide en seis capítulos, el primero consiste en una introducción a la temática, los cuatro siguientes, donde se desarrollan los contenidos, corresponden a las publicaciones científicas, mientras que el último recoge las conclusiones de los capítulos anteriores. El segundo capítulo investiga la efectividad del impuesto sobre las emisiones de carbono en la promoción de la demanda de alimentos medioambientalmente sostenibles, bienestar social y calidad de la dieta en España. Se han diseñado diferentes escenarios de políticas de impuestos basados en las alternativas de costes de emisiones de la Unión Europea. Las elasticidades propias y cruzadas de los precios de dieciséis grupos de alimentos se han calculado a partir del sistema de demanda de alimentos - EASI. Los resultados obtenidos muestran que el aumento de precios producido por la reforma de impuestos conlleva a una reducción del consumo de alimentos asociados con mayores emisiones de CO2 equivalente, a la vez que mejora la calidad de la dieta. Aunque se observa que la reforma de los impuestos mejora simultáneamente la salud y el medioambiente, esta parece afectar en mayor grado a segmentos de población con bajos recursos y niveles de bienestar. El tercer capítulo investiga la efectividad de la reforma de los impuestos en el bienestar y la calidad de la dieta de los consumidores. El escenario de política de impuestos se basa en internalizar el coste social de la obesidad en España. Para estimar el precio de los nutrientes y las elasticidades de gasto de la compra de los hogares se utilizan los datos del panel de hogares de Cataluña recolectados en el 2012. Los resultados sugieren una mejora marginal de la calidad de la dieta, aunque ésta no se observa a corto plazo. Además, el consumo de nutrientes dañinos para la salud como ácidos grasos saturados, sodio y colesterol, disminuyen enormemente. Desde el punto de vista de bienestar, el régimen neutral de los impuestos afecta a hogares de todas las clases sociales. En el cuarto capítulo evalúa el vínculo entre las actitudes psicológicas como las actitudes de riesgo, las inconsistencias temporales y el índice de masa corporal (para tener en cuenta la prevalencia de la obesidad) en Cataluña en 2014. El enfoque econométrico se basa en la teoría de la perspectiva y el descuento de tiempo- ambos se utilizan para estimar los parámetros de riesgo y tiempo, respectivamente. Los resultados apoyan una fuerte influencia de la aversión al riesgo en el desarrollo del índice de masa corporal. Además, las inconsistencias de tiempo influyen significativamente en la propensión de los individuos a aumentar el índice de masa corporal. El quinto capítulo reúne a todas las covariables que influyen en el desarrollo de la obesidad mediante la investigación de los factores psicológicos, de comportamiento y socioeconómicos de la obesidad en Cataluña mediante el análisis de modelos de diagramas causales. Los resultados sugieren que existen relaciones significativas directas e indirectas entre la obesidad y la mayoría de las variables. Se observó que la obesidad está directamente influenciada por la creencia que está bajo el control de la gente que la padece, que tiene una imagen corporal correcta y la gente que sufren insatisfacción de su imagen corporal. Además, se encontró una relación indirecta significativa entre la obesidad y las actitudes hacia las personas obesas, edad y el género. En cambio, las actitudes de riesgo no tuvieron ningún efecto directo o indirecto sobre la obesidad. El gobierno debe considerar las interacciones que existen entre los diversos determinantes de la obesidad al formular políticas relacionadas con la esta.
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Spector, Mariano Eduardo. "Essays on redistributive fiscal policies and macroeconomics." Thesis, Massachusetts Institute of Technology, 2020. https://hdl.handle.net/1721.1/127037.
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Thesis: Ph. D., Massachusetts Institute of Technology, Department of Economics, May, 2020Cataloged from the official PDF of thesis.
Includes bibliographical references (pages 223-227).
This thesis consists of three chapters. Chapters 1 and 2 study redistributive fiscal policies. Chapter 3 analyzes the role of asymmetric information in frictional labor markets. Fiscal stimulus during the Great Recession consisted mainly of transfers, rather than government purchases. Chapter 1 analyzes the role of marginal propensities to consume (MPCs) in shaping the effect of such policies. I construct a continuous-time New Keynesian model with heterogeneous overlapping generations which allows for arbitrary MPC heterogeneity. I characterize the output multipliers of fiscal transfers, and show that the role of MPCs is mainly to determine the timing of the fiscal stimulus. The relation between this timing and the cumulative effect on output is, however, ambiguous. Indeed, I show that transfers to low-MPC consumers may generate a higher cumulative effect on output.
From a normative perspective, however, there is no ambiguity: with larger differences in MPCs, optimal policy can obtain macro stabilization with smaller welfare losses. In Chapter 2, I analyze redistributive policies when households are heterogeneous with respect to both their MPCs and their risk aversion. I characterize transfer multipliers in a model in which capital is subject to uninsurable idiosyncratic risk. Based on survey data, I assume that MPCs and risk aversion are positively correlated in the population. A redistribution from low-MPC, low-risk aversion households to high-MPC, high-risk aversion households creates two opposing effects: a higher mean MPC tends to stimulate aggregate demand, but an increase in the mean risk aversion tends to depress asset prices, generating a negative income effect on consumption. In Chapter 3, I study a frictional labor market with horizontally differentiated workers.
Firms have incomplete information about the skills of workers who apply to their vacancies. Workers self-insure against unemployment risk by applying to jobs for which their skills are not well suited. This decreases firms' incentives to create vacancies by deteriorating the quality of the average applicant. Workers thus impose a negative externality on each other, which makes the equilibrium inefficient. However, although workers apply to too many jobs, I show that unemployment can be too low or too high. Welfare-improving government policies are considered.
by Mariano Eduardo Spector.
Ph. D.
Ph.D. Massachusetts Institute of Technology, Department of Economics
9
CARVELLI, Gianni. "ESSAYS ON FISCAL POLICIES AND ECONOMIC GROWTH." Doctoral thesis, Università degli studi di Brescia, 2022. http://hdl.handle.net/11379/558676.
Full textAbstract:
Le analisi incluse in questa tesi contribuiscono alla letteratura sulle politiche fiscali e sulla crescita economica da diverse angolazioni, dove si sfruttano principalmente i) serie storiche fiscali più lunghe che coprono in gran parte anche il periodo successivo alla Grande Recessione; ii) dati di interesse che coinvolgono una quota maggiore di paesi in via di sviluppo rispetto alla maggior parte degli studi precedenti; iii) la disponibilità di nuove tecniche econometriche per dati macro-panel. Questa dissertazione si compone di quattro capitoli che affrontano fenomeni diversi, sebbene correlati. Le analisi empiriche sono condotte a livello di panel all'interno di tutti i capitoli.
Il primo capitolo esamina l'impatto del rapporto debito/PIL sulla crescita aggregata, sulla produttività e sull'accumulazione di capitale. Le stime sono condotte a livello annuale e quinquennale (overlapping and non-overlapping) all'interno di un quadro dinamico. Rispetto alla maggior parte degli studi precedenti, in questa tesi viene utilizzato un set di dati panel più ampio sia in N che in T, con conseguenti vantaggi inferenziali. Gli episodi di crescita sovrapposti e non sovrapposti sono calcolati con un nuovo metodo che massimizza il numero di osservazioni. Infine, affrontiamo il problema dei missing values attraverso tecniche di deviazione ortogonale in avanti (FOD). La presenza di missing values può rappresentare un problema quando i dataset contengono paesi in via di sviluppo, poiché molte serie temporali sono relativamente brevi rispetto a quelle per le economie avanzate.
Il secondo capitolo indaga gli effetti a breve e lungo termine del debito pubblico per lavoratore sull’output per lavoratore, tenendo conto dell'eterogeneità tra le unità, della non stazionarietà, dell'endogeneità e della cross-sectional dependence attraverso nuove tecniche econometriche. Deriviamo un'equazione stimabile da una funzione di produzione Cobb-Douglas estesa con il debito e in cui i parametri possono variare tra i paesi. Consideriamo il debito pubblico lordo e netto. Inoltre, stimiamo modelli asimmetrici per esaminare se i processi di accumulazione e riduzione del debito seguono un percorso non lineare.
Il terzo capitolo studia gli effetti a lungo termine sul settore privato della spesa pubblica corrente all'interno di un quadro dinamico eterogeneo in cui si presume che gli errori dipendano trasversalmente. Consideriamo sia la spesa pubblica aggregata che la sua bipartizione in produttiva e improduttiva. Inoltre, isoliamo anche gli effetti dell'investimento privato della mera riallocazione delle risorse pubbliche verso ciascuna delle categorie di spesa mantenendo costante la spesa pubblica totale. Infine, costruiamo un vincolo di bilancio pubblico (GBC) per esaminare se il modo in cui la spesa pubblica è finanziata è importante per le dinamiche di lungo periodo degli investimenti privati.
Il quarto capitolo stabilisce un rapporto di cointegrazione tra gli investimenti privati e le singole componenti della spesa pubblica – classificate secondo gli obiettivi socioeconomici – dove, come nel secondo e nel terzo capitolo, si tiene conto degli effetti eterogenei degli shock globali e delle ricadute locali. In alternativa, consideriamo le componenti della spesa pubblica sia come quota del PIL che come quota della spesa pubblica totale. Questa distinzione è importante perché l'effetto delle singole componenti sulla quota della spesa pubblica totale va considerato come l'effetto di una riallocazione delle risorse verso una determinata componente di spesa, in quanto la spesa pubblica totale non si aggiusta nel modello. Inoltre, anche questo capitolo include il GBC nelle regressioni al fine di ottenere stime della risposta degli investimenti privati alle diverse combinazioni di componenti di spesa e modalità di finanziamento.The analyses included in this thesis contribute to the literature on fiscal policies and economic growth through different angles, where we mainly take advantage of i) the longer fiscal time series that largely also cover the post Great Recession period; ii) data of interest that involve a larger share of developing countries compared to most of the previous studies; iii) the availability of novel econometric techniques for macro panel data. This dissertation is made up of four chapters who address different, though related, phenomena. The empirical analyses are conducted at panel level within all the chapters. The first chapter examines the impact of the debt-to-GDP ratio on aggregate growth, productivity and capital accumulation. Estimates are conducted at annual and 5-years (overlapping and non-overlapping) levels within a dynamic framework. Compared to most of the previous studies, we use a panel dataset that is larger both in N and in T, with consequently benefits for the inference. The overlapping and non-overlapping growth episodes are computed in a new way that maximizes the number of observations. Lastly, we address the problem of missing values through forward orthogonal deviation (FOD) techniques. The issue of gaps in the sample represents a concern when datasets contain developing countries – as many time series are relatively short compared to those of advanced economy. As a result, such a problem may threaten the inference when estimation techniques are based on the employment of internal instruments. The second chapter investigates the short-run and long-run effects of public debt per worker on output per worker while accounting for country-heterogeneity, nonstationarity, endogeneity and cross-sectional dependence through novel econometric techniques. We derive an estimable equation from a Cobb-Douglas output function augmented with debt where the parameters are allowed to vary across countries. We consider both gross and net public debt. Moreover, we estimate asymmetric models to examine whether the processes of debt accumulation and relief follow a nonlinear path. The third chapter studies the long-run effects on the private sector of the current government expenditure within a dynamic heterogenous framework where errors are assumed to be cross-sectionally dependent. We consider both the aggregate government expenditure and its bipartition into productive and unproductive. Moreover, we also isolate the private investment effects of the mere reallocation of public resources towards each of the spending categories by holding constant the size of the government intervention. Finally, we build a government budget constraint (GBC) in order to examine whether the way government expenditure is financed matters for the long-run dynamics of private investments. The fourth chapter establishes a cointegrating relationship between private investments and the single components of government expenditure – categorized according to the socioeconomic objectives – where, as in the second and third chapters, the heterogenous effects of global shocks and local spillovers are accounted for. We alternatively consider the components of government expenditure both as share of GDP and as share of total government expenditure. This distinction matters because the effect of the single components as share of total government expenditure should be considered as the effect of a reallocation of resources towards a given spending component, since the size of government intervention does not adjust. In addition, also this chapter includes the GBC in the regressions in order to obtain estimates of the response of private investments to the various combinations of spending components and methods of financing.
10
CARVELLI, Gianni. "ESSAYS ON FISCAL POLICIES AND ECONOMIC GROWTH." Doctoral thesis, Università degli studi di Brescia, 2022. http://hdl.handle.net/11379/558696.
Full textAbstract:
Le analisi incluse in questa tesi contribuiscono alla letteratura sulle politiche fiscali e sulla crescita economica da diverse angolazioni, dove si sfruttano principalmente i) serie storiche fiscali più lunghe che coprono in gran parte anche il periodo successivo alla Grande Recessione; ii) dati di interesse che coinvolgono una quota maggiore di paesi in via di sviluppo rispetto alla maggior parte degli studi precedenti; iii) la disponibilità di nuove tecniche econometriche per dati macro-panel. Questa dissertazione si compone di quattro capitoli che affrontano fenomeni diversi, sebbene correlati. Le analisi empiriche sono condotte a livello di panel all'interno di tutti i capitoli.
Il primo capitolo esamina l'impatto del rapporto debito/PIL sulla crescita aggregata, sulla produttività e sull'accumulazione di capitale. Le stime sono condotte a livello annuale e quinquennale (overlapping and non-overlapping) all'interno di un quadro dinamico. Rispetto alla maggior parte degli studi precedenti, in questa tesi viene utilizzato un set di dati panel più ampio sia in N che in T, con conseguenti vantaggi inferenziali. Gli episodi di crescita sovrapposti e non sovrapposti sono calcolati con un nuovo metodo che massimizza il numero di osservazioni. Infine, affrontiamo il problema dei missing values attraverso tecniche di deviazione ortogonale in avanti (FOD). La presenza di missing values può rappresentare un problema quando i dataset contengono paesi in via di sviluppo, poiché molte serie temporali sono relativamente brevi rispetto a quelle per le economie avanzate.
Il secondo capitolo indaga gli effetti a breve e lungo termine del debito pubblico per lavoratore sull’output per lavoratore, tenendo conto dell'eterogeneità tra le unità, della non stazionarietà, dell'endogeneità e della cross-sectional dependence attraverso nuove tecniche econometriche. Deriviamo un'equazione stimabile da una funzione di produzione Cobb-Douglas estesa con il debito e in cui i parametri possono variare tra i paesi. Consideriamo il debito pubblico lordo e netto. Inoltre, stimiamo modelli asimmetrici per esaminare se i processi di accumulazione e riduzione del debito seguono un percorso non lineare.
Il terzo capitolo studia gli effetti a lungo termine sul settore privato della spesa pubblica corrente all'interno di un quadro dinamico eterogeneo in cui si presume che gli errori dipendano trasversalmente. Consideriamo sia la spesa pubblica aggregata che la sua bipartizione in produttiva e improduttiva. Inoltre, isoliamo anche gli effetti dell'investimento privato della mera riallocazione delle risorse pubbliche verso ciascuna delle categorie di spesa mantenendo costante la spesa pubblica totale. Infine, costruiamo un vincolo di bilancio pubblico (GBC) per esaminare se il modo in cui la spesa pubblica è finanziata è importante per le dinamiche di lungo periodo degli investimenti privati.
Il quarto capitolo stabilisce un rapporto di cointegrazione tra gli investimenti privati e le singole componenti della spesa pubblica – classificate secondo gli obiettivi socioeconomici – dove, come nel secondo e nel terzo capitolo, si tiene conto degli effetti eterogenei degli shock globali e delle ricadute locali. In alternativa, consideriamo le componenti della spesa pubblica sia come quota del PIL che come quota della spesa pubblica totale. Questa distinzione è importante perché l'effetto delle singole componenti sulla quota della spesa pubblica totale va considerato come l'effetto di una riallocazione delle risorse verso una determinata componente di spesa, in quanto la spesa pubblica totale non si aggiusta nel modello. Inoltre, anche questo capitolo include il GBC nelle regressioni al fine di ottenere stime della risposta degli investimenti privati alle diverse combinazioni di componenti di spesa e modalità di finanziamento.The analyses included in this thesis contribute to the literature on fiscal policies and economic growth through different angles, where we mainly take advantage of i) the longer fiscal time series that largely also cover the post Great Recession period; ii) data of interest that involve a larger share of developing countries compared to most of the previous studies; iii) the availability of novel econometric techniques for macro panel data. This dissertation is made up of four chapters who address different, though related, phenomena. The empirical analyses are conducted at panel level within all the chapters. The first chapter examines the impact of the debt-to-GDP ratio on aggregate growth, productivity and capital accumulation. Estimates are conducted at annual and 5-years (overlapping and non-overlapping) levels within a dynamic framework. Compared to most of the previous studies, we use a panel dataset that is larger both in N and in T, with consequently benefits for the inference. The overlapping and non-overlapping growth episodes are computed in a new way that maximizes the number of observations. Lastly, we address the problem of missing values through forward orthogonal deviation (FOD) techniques. The issue of gaps in the sample represents a concern when datasets contain developing countries – as many time series are relatively short compared to those of advanced economy. As a result, such a problem may threaten the inference when estimation techniques are based on the employment of internal instruments. The second chapter investigates the short-run and long-run effects of public debt per worker on output per worker while accounting for country-heterogeneity, nonstationarity, endogeneity and cross-sectional dependence through novel econometric techniques. We derive an estimable equation from a Cobb-Douglas output function augmented with debt where the parameters are allowed to vary across countries. We consider both gross and net public debt. Moreover, we estimate asymmetric models to examine whether the processes of debt accumulation and relief follow a nonlinear path. The third chapter studies the long-run effects on the private sector of the current government expenditure within a dynamic heterogenous framework where errors are assumed to be cross-sectionally dependent. We consider both the aggregate government expenditure and its bipartition into productive and unproductive. Moreover, we also isolate the private investment effects of the mere reallocation of public resources towards each of the spending categories by holding constant the size of the government intervention. Finally, we build a government budget constraint (GBC) in order to examine whether the way government expenditure is financed matters for the long-run dynamics of private investments. The fourth chapter establishes a cointegrating relationship between private investments and the single components of government expenditure – categorized according to the socioeconomic objectives – where, as in the second and third chapters, the heterogenous effects of global shocks and local spillovers are accounted for. We alternatively consider the components of government expenditure both as share of GDP and as share of total government expenditure. This distinction matters because the effect of the single components as share of total government expenditure should be considered as the effect of a reallocation of resources towards a given spending component, since the size of government intervention does not adjust. In addition, also this chapter includes the GBC in the regressions in order to obtain estimates of the response of private investments to the various combinations of spending components and methods of financing.
Books on the topic "Fiscal polices"
1
Vito, Tanzi, ed. Fiscal policies in economies in transition. Washington, D.C: International Monetary Fund, 1992.
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2
La politique fiscale: À la recherche du compromis. Sainte-Foy, Québec: Presses de l'Université du Québec, 1995.
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3
Tremblay, Pierre P. La politique fiscale: À la recherche du compromis. 2nd ed. Sainte-Foy: Presses de l'Université du Québec, 1998.
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4
Rao, Hemlata. Fiscal federalism: Issues and policies. New Delhi: New Century Publications, 2006.
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5
A, Frenkel Jacob, and National Bureau of Economic Research., eds. International aspects of fiscal policies. Chicago: University of Chicago Press, 1988.
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6
K, Ingram Gregory, Hong Yu-hung, and Lincoln Institute of Land Policy., eds. Fiscal decentralization and land policies. Cambridge [Mass.]: Lincoln Institute of Land Policy, 2008.
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7
Fiscal policies in federal states. Burlington, VT: Ashgate, 2003.
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8
Habito, Cielito Flores. Fiscal policies in Philippine agriculture. [Los Baños]: UP Los Baños Agricultural Policy Research Program, Center for Policy and Development Studies, College of Economics and Management, 1990.
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9
Gordon, David B. Are countercyclical fiscal policies counterproductive? Cambridge, Mass: National Bureau of Economic Research, 2005.
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10
1947-, Tchienehom Jean-Vincent, ed. La gouvernance fiscale: Le dispositif fiscal camerounais, ou, comment comprendre et envisager les politiques fiscales au Cameroun. Paris: EdilivreAParis, 2009.
Find full textBook chapters on the topic "Fiscal polices"
1
Bonifant Cisneros, Anette, and Roberto Galván Avalos. "Comparative Fiscal Policies." In Global Encyclopedia of Public Administration, Public Policy, and Governance, 1–7. Cham: Springer International Publishing, 2017. http://dx.doi.org/10.1007/978-3-319-31816-5_3334-1.
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2
Bonifant Cisneros, Anette, and Roberto Galván Avalos. "Comparative Fiscal Policies." In Global Encyclopedia of Public Administration, Public Policy, and Governance, 2062–67. Cham: Springer International Publishing, 2022. http://dx.doi.org/10.1007/978-3-030-66252-3_3334.
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3
Green, Egan K., Ronald G. Lynch, and Scott R. Lynch. "Fiscal Management." In The Police Manager, 199–214. 9th ed. New York: Routledge, 2023. http://dx.doi.org/10.4324/9781003305491-16.
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Green, Egan K., Ronald G. Lynch, and Scott R. Lynch. "Fiscal Management." In The Police Manager, 211–26. Eighth edition. | New York, NY : Routledge, 2018.: Routledge, 2017. http://dx.doi.org/10.4324/9781315472331-16.
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5
Guzik, Marina. "Generally Accepted Fiscal Policies." In CFO Techniques, 43–52. Berkeley, CA: Apress, 2011. http://dx.doi.org/10.1007/978-1-4302-3757-0_7.
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Tremblay, Jean-François. "Canada." In The Forum of Federations Handbook of Fiscal Federalism, 97–123. Cham: Springer International Publishing, 2023. http://dx.doi.org/10.1007/978-3-030-97258-5_3.
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AbstractCanada has evolved into one of the most fiscally decentralized federations in the world. Provinces enjoy considerable autonomy and play a central role in designing and implementing economic and social policies. This chapter outlines key features of Canadian fiscal federalism, especially the extensive decentralization of legislative responsibilities and taxation powers to provincial governments, the wide-ranging intergovernmental transfer system designed to maintain fiscal balance between orders of governments and among provinces, as well as the mechanisms in place to promote some harmonization of policies and cooperation among provinces. Current challenges to Canadian fiscal federalism are outlined including pressures on horizontal and vertical fiscal balance associated with demographic changes, rapidly increasing costs in the public health care system which have been intensified by the Covid-19 pandemic, persistent tensions associated with the geographic concentration of natural resources, as well as pressures on municipal finance resulting from ongoing urbanization and growing infrastructure needs, among others.
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Ayuso-i-Casals, Joaquim, Servaas Deroose, Elena Flores, and Laurent Moulin. "Introduction: The Role of Fiscal Rules and Institutions in Shaping Budgetary Outcomes." In Policy Instruments for Sound Fiscal Policies, 1–20. London: Palgrave Macmillan UK, 2009. http://dx.doi.org/10.1057/9780230271791_1.
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Ayuso-i-Casals, Joaquim, Diana González Hernandez, Laurent Moulin, and Alessandro Turrini. "Beyond the SGP: Features and Effects of EU National-Level Fiscal Rules." In Policy Instruments for Sound Fiscal Policies, 204–40. London: Palgrave Macmillan UK, 2009. http://dx.doi.org/10.1057/9780230271791_10.
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Stéclebout-Orseau, Eloïse, and Mark Hallerberg. "Who Provides Signals to Voters about Government Competence on Fiscal Matters? The Importance of Independent Watchdogs." In Policy Instruments for Sound Fiscal Policies, 241–55. London: Palgrave Macmillan UK, 2009. http://dx.doi.org/10.1057/9780230271791_11.
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Kirsanova, Tatiana, Campbell Leith, and Simon Wren-Lewis. "Optimal Debt Policy, and an Institutional Proposal to Help in Its Implementation." In Policy Instruments for Sound Fiscal Policies, 256–83. London: Palgrave Macmillan UK, 2009. http://dx.doi.org/10.1057/9780230271791_12.
Full textConference papers on the topic "Fiscal polices"
1
Casian, Angela, and Daniel Madan. "Post-pandemic period: budgetary policy – fiscal pro or countercyclical approach." In International Scientific Conference “30 Years of Economic Reforms in the Republic of Moldova: Economic Progress via Innovation and Competitiveness”. Academy of Economic Studies of Moldova, 2022. http://dx.doi.org/10.53486/9789975155663.38.
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Actualitatea studiului este determinată de necesitatea intervenției rapide și sistemice a statului prin instrumente de ordin economic, social, politic și nu în ultimul rând financiar, impactul deciziilor de politică bugetar – fiscală și amploarea efectelor acesteia în perioada care o traversează întreaga umanitate denumită generic pandemia Covid-19. Astfel, scopul primordial îl constituie clarificarea abordării pro sau contraciclice a politicii financiare, și în special a celei bugetar – fiscal, ce urmează a fi proiectată și implementată, în regim de urgență, în Republica Moldova, începutul deja fiind ratat, demotivant și haotic, negat cu înverșunare ca fiind obiectiv de bază al perioadei 2019 – 2021 de către guvernul socialist de la Chișinău. În vederea atingerii scopului stabilit, respectivul studiu s-a axat pe următoarele obiective operaționale: confruntarea politicii bugetar-fiscale contraciclice vs prociclice; analiza situației Bugetului de Stat și a politicii bugetar-fiscale postCovid, enunțarea unor propuneri de politici pentru relansarea economică.
2
Lopotenco, Viorica. "Interacțiunea politicii monetare cu politica fiscală în țările mici cu economii deschise." In International Scientific-Practical Conference "Economic growth in the conditions of globalization". National Institute for Economic Research, 2023. http://dx.doi.org/10.36004/nier.cecg.iii.2023.17.1.
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The consequences of the COVID-19 pandemic, intensified by Russia's aggression in Ukraine, determined that in both developed and emerging countries, the monetary and fiscal authorities could not ensure efficiency in achieving the objectives of financial policies. This study aims to identify the determinants of monetary and fiscal policies in a small open economy, in the example of the Republic of Moldova, which must not only ensure the stability of the financial system but also correspond to the trends of the "new normal," through the interconnection with innovation, which it drives the expansion of private digital currencies and FinTech. Both qualitative (phenomenological analysis) and quantitative (inferential statistics) methods were used in the research process. At the same time, the case study research strategy was applied (within determining the particularities of the interaction between fiscal and monetary policies in a small open economy, in the example of the Republic of Moldova). In the Republic of Moldova, the coordination mechanism of fiscal and monetary policy instruments differs by its specificity from countries with developed economies. The assessment of the short-term effects of fiscal and monetary policy instruments on macroeconomic indicators indicates that they are very approximate and, in many situations, contradictory. At the same time, the monetary policy in the Republic of Moldova has several notable characteristics, particularly a qualitative dependence on external economic factors and external economic shocks. Bibliographic sources that research the relationship between fiscal and monetary policies in the context of the significant changes in the world economy were used for this study. A deeper analysis requires the application of more complex econometric methods to determine the impact of the relationship between monetary policy and fiscal policy on several macroeconomic variables. At the same time, we note the usefulness of the study results for the authorities of the Republic of Moldova.
3
Bishev, Gligor, Aleksandar Stojkov, and Fatmir Besimi. "FISCAL POLICIES IN PANDEMIC TIMES: EUROPEAN EXPERIENCES." In Economic and Business Trends Shaping the Future. Ss Cyril and Methodius University, Faculty of Economics-Skopje, 2021. http://dx.doi.org/10.47063/ebtsf.2021.0007.
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The pandemic recession was fundamentally different from ordinary recessions, and thus required a different policy response. We review the empirical literature on fiscal consolidation and fiscal multipliers. Then, we assess the impact of fiscal policies on the pace of recovery and public debt sustainability. A premature or a strong fiscal consolidation might result in lower rates of economic growth and elevated public debt as a share of GDP. We critically analyze different adjustment paths across Europe and offer policy-relevant recommendations. The issue is particularly relevant for countries with a strong fiscal stimulus and moderate to high levels of public debt.
4
Kumi, Evis. "The Effectiveness of the Albanian Monetary Policy." In 9th International Scientific Conference ERAZ - Knowledge Based Sustainable Development. Association of Economists and Managers of the Balkans, Belgrade, Serbia, 2023. http://dx.doi.org/10.31410/eraz.2023.97.
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This article aims to assess the efficiency of the Bank of Albania’s monetary policy in attaining its goals of price stability and economic expansion. Price stability is essential for ensuring a favorable business environment, preserving the purchasing power of the currency, and reducing uncertainty in the economy. The analysis takes into account the unique characteristics and challenges faced by the Albanian economy. This article offers insights into the effectiveness of the monetary policy framework in Albania by assessing the primary instruments and tactics used by the BoA, including interest rates, reserve requirements, and open market operations. It also investigates how external influences affect the efficacy of monetary policy and makes suggestions for improvement. This paper concludes with suggestions for boosting the Albanian monetary policy’s efficacy. It recommends actions to strengthen the transmission mechanism, improve data quality and availability, enhance coordination between monetary and fiscal policies, and boost the institutional capability of the central bank. It also stresses how crucial it is to have a consistent and well-defined policy framework. In the end, this article provides recommendations for enhancing the effectiveness of the Albanian monetary policy. It suggests measures to strengthen the transmission mechanism, improve data quality and availability, enhance coordination between monetary and fiscal policies, and increase the central bank’s institutional capacity. Additionally, it emphasizes the importance of maintaining a stable and predictable policy framework.
5
Topcu, Mert. "Lockdown Policies and Fiscal Policy Stimulus Packages: Cross-Country Evidence from COVID-19 Era." In 6th International Scientific Conference – EMAN 2022 – Economics and Management: How to Cope With Disrupted Times. Association of Economists and Managers of the Balkans, Belgrade, Serbia, 2022. http://dx.doi.org/10.31410/eman.2022.1.
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Lockdown policies, at the forefront to mitigate the spread of the coronavirus, have led governments to face a trade-off between health and recessionary impacts. To deal with the devastating economic impacts of the pandemic, governments around the world have announced stimulus packages. Given the fiscal burden of health-oriented policies, this study investigates the impact of lockdown policies on fiscal policy stimulus packages. Using simple cross-country OLS regression for 162 countries, this study finds that a stricter lockdown policy requires a higher stimulus package. In addition, threshold regression results indicate that a stringent policy is associated with a higher stimulus package for the countries where income distribution is relatively unequal and institutional quality is relatively lower.
6
Akyol, Servet. "Financial Crisis and Fiscal Policy: An Assessment of the EU-Member Balkan States." In International Conference on Eurasian Economies. Eurasian Economists Association, 2014. http://dx.doi.org/10.36880/c05.00951.
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The objective of this paper is to study the economic and social results of the post-crisis fiscal policies concerning the Balkan States that are members of the EU. The global crisis, which broke out in the US in 2008, had a deep effect on both developed and developing countries. Until today different policies have been put on the agenda in order to eliminate or alleviate the impacts of the crisis. In this context, bailout and stimulus packages were firstly implemented. Stimulus packages were replaced by austerity policies because of the increasing public debt and budget deficit after 2010. Fiscal policy focused on reducing the debts instead of supporting the economic activities. This study is based on historical and descriptive method. It examines the development of post-crisis fiscal policies in the Balkan States that are members of the EU. In this study, public expenditure, public debt, public deficit and unemployment rate are used as the main indicators. The effects of fiscal policy will be compared between countries. This study also suggests that although the crisis resulted from financial sector, burden of crisis was transferred to public sector. Moreover, in many countries, because of its increasing deficit and debt burden, public sector became depended on financial sector that was rescued before. After the crisis, fiscal policies has led to significant economic and social costs in the Balkan States that are members of the EU.
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Ismoilov, G. N. "State Fiscal Policy." In II International Conference on Economic and Social Trends for Sustainability of Modern Society. European Publisher, 2021. http://dx.doi.org/10.15405/epsbs.2021.09.02.15.
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Csápai, Ádám. "Analyzing the Interactions of Monetary and Fiscal Policy in a Small Open Economy Using a DSGE Model." In EDAMBA 2021 : 24th International Scientific Conference for Doctoral Students and Post-Doctoral Scholars. University of Economics in Bratislava, 2022. http://dx.doi.org/10.53465/edamba.2021.9788022549301.63-72.
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The principal aim of this paper is to estimate a small open economy dynamic stochastic general equilibrium (DSGE) model with monetary and fiscal policy and analyze the interaction of these policies in Hungary. In the paper we present the model in a log-linearized form. We combine both calibration and Bayesian estimation to obtain parameter values of the model. We find that the model is suitable for impulse response analysis, so we estimate the impulse response functions of the model. We examine how five endogenous variables – namely output, inflation, the nominal interest rate, government spending and government revenue – react to non-systematic shocks to the nominal interest rate, government spending and government revenue. The plotted impulse response functions allow us to study how monetary and fiscal policy interacts in a small open economy. In some cases we find that restrictive fiscal policy is accompanied by expansive monetary policy, while in other cases the policy responses to shocks are coordinated. We conclude that our results are in accordance with economic theory.
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DUMITRASCO, Marica. "ADJUSTMENT OF ECONOMIC POLICIES IN THE REPUBLIC OF MOLDOVA TO THOSE IMPLEMENTED IN NEIGHBORING EUROPEAN STATES." In International Management Conference. Editura ASE, 2023. http://dx.doi.org/10.24818/imc/2022/03.01.
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The main purpose of this paper is to assess the economic vulnerabilities of the Republic of Moldova (RM) at the macro level, as well as to formulate policy proposals for sustainable economic development. The paper focuses on the analysis of time series data between the previous global crisis (2009) and that caused by the COVID-19 pandemic (2020). The paper identifies the following economic vulnerabilities of the RM, which formed during the years of independence: pro-cyclical fiscal policy, reduced public revenues, consumption-based economic model, low investment in the economy, declining labor force, exchange rate instability in crisis situations. The paper also highlights the differences between the policies of the RM compared to neighboring European countries, especially in terms of indicators of their economic stability in crisis situations. The paper identifies the following policy areas for sustainable economic development: modernizing the structure of the economy, countercyclical fiscal policy, increasing public revenues, streamlining public services, increasing public investment, developing of private pension funds, implementing public policy in the field of financial education, accelerating growth and investment in the future. In this context, the question is "what should national policies contain?" in order to ensure a sustainable development of national economy. The experience of the new EU Member States was taken into account in formulating policy proposals. If all these economic policies will be implemented in the first decade after the COVID-19 pandemic, the RM can move from a consumerbased economic model financed by loans to an investment-based and sustainable economic development one.
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Bulgac, Corina. "Interpreting the correlation between fiscal policy and economic growth in the Republic of Moldova." In International Scientific Conference “30 Years of Economic Reforms in the Republic of Moldova: Economic Progress via Innovation and Competitiveness”. Academy of Economic Studies of Moldova, 2022. http://dx.doi.org/10.53486/9789975155663.45.
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Economic growth is one of the main objectives of the state's economic policy. The experience of several countries shows that most economic recovery policies are based on tax policy instruments, which generate favorable consequences for the real state economy. In this context, the topicality of the research theme can be underlined, which consists in the appropriate identification and optimal correlation of fiscal policy instruments according to the specifics of the national economy and the current stage of development in order to stimulate economic growth.
Reports on the topic "Fiscal polices"
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Siebrits, Krige, and Estian Calitz. Fiscal anchors and sustainable fiscal policy. UNU-WIDER, August 2023. http://dx.doi.org/10.35188/unu-wider/2023/406-9.
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Gordon, David, and Eric Leeper. Are Countercyclical Fiscal Policies Counterproductive? Cambridge, MA: National Bureau of Economic Research, December 2005. http://dx.doi.org/10.3386/w11869.
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Saha, Devanik. Shockproof and Inclusive Fiscal Policies. Institute of Development Studies, July 2023. http://dx.doi.org/10.19088/core.2023.005.
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The Covid-19 pandemic has had a significant impact on the economies of most countries. What differed is the intensity of the impact, which ranged from mild economic contractions to devastating recessions and downturns. From a generic perspective, it is obvious to assume that high-income countries (HIC) would have faced lesser economic destruction than low- and middleincome countries (LMIC). However, a closer examination reveals that there are several factors that determined the impact of the pandemic on a country, as well as influenced its ability to respond. For instance, the existing economic structures and weaknesses strongly affected the countries’ ability to provide adequate fiscal stimulus. These weaknesses are following pro-cyclical policies and not creating fiscal buffers that would help build more resilience. An interesting finding that emerged was that the credit rating of a country was found to be the most important determinant of its Covid-19 fiscal response. This is one major area where HICs had a significant advantage compared to LMICs. Another key challenge that disproportionately affected LMICs was the lack of digitisation and access to the internet, which hampered economic growth as well as affected the countries’ ability to quickly disburse cash transfers and support. Research supported by the Covid-19 Responses for Equity (CORE) Programme – which is supported by the International Development Research Centre (IDRC) – has revealed some emerging lessons and recommendations to address these challenges and improve the resilience of countries to future shocks. One of the first and foremost recommendations is for countries to invest strongly in social protection and healthcare systems for its citizens, which would help build their resilience for future shocks. Adopting free trade policies and avoiding protectionism has also been an important lesson from the pandemic. Another key lesson is to employ a gender lens to fiscal and monetary policies as women have been disproportionately affected by the pandemic. Countries should also adopt expansionary monetary and fiscal policies as far as possible to increase the demand. Finally, countries also need to strengthen their financial institutions and mechanisms and reduce political interference, that would help maintain the asset quality of the banking sector.
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D’Acunto, Francesco, Daniel Hoang, and Michael Weber. Unconventional Fiscal Policy. Cambridge, MA: National Bureau of Economic Research, January 2018. http://dx.doi.org/10.3386/w24244.
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Davig, Troy, and Eric Leeper. Monetary-Fiscal Policy Interactions and Fiscal Stimulus. Cambridge, MA: National Bureau of Economic Research, July 2009. http://dx.doi.org/10.3386/w15133.
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Chien, YiLi, and Yi Wen. Optimal Fiscal Policies under Market Failures. Federal Reserve Bank of St. Louis, 2020. http://dx.doi.org/10.20955/wp.2020.002.
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Feldstein, Martin. Fiscal Policies, Capital Formation, and Capitalism. Cambridge, MA: National Bureau of Economic Research, October 1994. http://dx.doi.org/10.3386/w4885.
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Stockman, Alan. Fiscal Policies and International Financial Markets. Cambridge, MA: National Bureau of Economic Research, June 1986. http://dx.doi.org/10.3386/w1961.
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Jitsuchon, Somchai. Fiscal cost and Thailand's redistribution policies. East Asian Bureau of Economic Research, December 2011. http://dx.doi.org/10.59425/eabc.1325325601.
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Battaglini, Marco, and Stephen Coate. Fiscal Policy and Unemployment. Cambridge, MA: National Bureau of Economic Research, November 2011. http://dx.doi.org/10.3386/w17562.
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