Relevant bibliographies by topics / Fiscal policy

Academic literature on the topic 'Fiscal policy'

Author: Grafiati
Published: 4 June 2021
Last updated: 6 July 2024

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Contents

  1. Journal articles
  2. Dissertations / Theses
  3. Books
  4. Book chapters
  5. Conference papers
  6. Reports

Journal articles on the topic "Fiscal policy":

1

Vdovychenko, Artem. "Fiscal Policy Reaction Function and Sustainability of Fiscal Policy in Ukraine." Visnyk of the National Bank of Ukraine, no. 240 (June 25, 2017): 22–35. http://dx.doi.org/10.26531/vnbu2017.240.022.

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This study analyzes the fiscal policy reaction function with switching regimes. We use Logistic Smooth Transition Regressions (LSTR) to show that fiscal policy in Ukraine during the study period remained largely in passive mode, switching to active mode during periods of a high output gap and elevated debt-to-GDP ratio. An important finding is that the fiscal policy reaction function is nonlinear. Specifically, the response of fiscal policy to the output gap is asymmetric: fiscal policy is pro-cyclical during periods of economic growth but neutral in recession.
2

Yunanto, Muhamad, and Henny Medyawati. "Fiscal Policy and Monetary Policy: Sensitivity Analysis." International Journal of Trade, Economics and Finance 6, no. 2 (April 2015): 79–84. http://dx.doi.org/10.7763/ijtef.2015.v6.447.

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3

Utama, Zamrud Siswa, M. Khusaini, and Setyo Tri Wahyudi. "Kebijakan Fiskal di Persimpangan, Pro Growth atau Pro Poor?" Indonesian Treasury Review Jurnal Perbendaharaan Keuangan Negara dan Kebijakan Publik 2, no. 2 (September 7, 2017): 67–81. http://dx.doi.org/10.33105/itrev.v2i2.28.

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ABSTRACT Indonesian fiscal policy is designed as pro growth and pro poor. Fiscal space and inequality rapid growth become constraints for this policy. Beside that constraints, pro poor and pro growth fiscal policy was debatable. Okun’s Law, Kuznet Theory and inclusive growth concept were sources of this debate. This paper investigates the impact of fiscal policy on growth and inequality. Using Error Correction Model (ECM), this paper shows that between 1980 until 2015, fiscal policy become more pro growth than pro poor. ABSTRAK Kebijakan fiskal Indonesia dirancang dalam kerangka pro growth dan pro poor. Keterbatasan ruang fiskal dan tingginya kecepatan peningkatan ketimpangan menjadi kendala. Selain kendala tersebut, usaha untuk merancang kebijakan fiskal yang pro growth dan pro poor menjadi perdebatan. Teori Kuznet, Hukum Okun, dan konsep pertumbuhan inklusif menjadi pangkal perdebatan ini. Penelitian ini bertujuan melihat dampak kebijakan fiskal terhadap pertumbuhan dan ketimpangan. Menggunakan Error Correction Model (ECM), hasil penelitian menemukan bahwa selama periode 1980 sampai dengan 2015 kebijakan fiskal cenderung mendorong pertumbuhan dibanding pemerataan.
4

Franek, Sławomir. "Social Objectives in Polish Fiscal Policy – Spending vs Performance." Journal of Management and Business Administration. Central Europe 24, no. 2 (June 15, 2016): 74–88. http://dx.doi.org/10.7206/jmba.ce.2450-7814.170.

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Chugunov, Igor Yakovych, and Mykola Dmytrovych Pasichnyi. "FISCAL POLICY FOR ECONOMIC DEVELOPMENT." SCIENTIFIC BULLETIN OF POLISSIA 1, no. 1(13) (2018): 54–61. http://dx.doi.org/10.25140/2410-9576-2018-1-1(13)-54-61.

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Ihori, Toshihiro, Takero Doi, and Hiroki Kondo. "Japanese fiscal reform: fiscal reconstruction and fiscal policy." Japan and the World Economy 13, no. 4 (December 2001): 351–70. http://dx.doi.org/10.1016/s0922-1425(00)00052-9.

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Sari, Fitri Mustika, Asti Astuti, Davia Zamanda, Fairuz Prama Restu, and Arif Fadilla. "Kebijakan Fiskal dan Dampaknya Terhadap Perekonomian Indonesia." Journal of Economics, Assets, and Evaluation 1, no. 4 (May 22, 2024): 1–10. http://dx.doi.org/10.47134/jeae.v1i4.231.

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Kebijakan fiskal merupakan salah satu instrumen utama yang digunakan oleh pemerintah untuk mengelola perekonomian. Penelitian ini bertujuan untuk menganalisis dampak kebijakan fiskal terhadap perekonomian Indonesia, dengan fokus pada pertumbuhan ekonomi, stabilitas harga, dan distribusi pendapatan. Metode penelitian yang digunakan adalah studi pustaka dengan mengumpulkan data sekunder dari berbagai sumber seperti jurnal, buku, artikel ilmiah, dan laporan resmi. Hasil penelitian menunjukkan bahwa kebijakan fiskal memiliki dampak signifikan terhadap pertumbuhan ekonomi, di mana pajak, belanja barang, dan subsidi memiliki korelasi positif, sementara utang luar negeri dan belanja pegawai memiliki korelasi negatif. Selain itu, kebijakan fiskal juga berperan dalam mengendalikan inflasi dan menjaga stabilitas harga melalui pengaturan belanja dan penerimaan negara. Distribusi pendapatan dan peningkatan kesejahteraan masyarakat juga menjadi fokus penting dari kebijakan fiskal. Penelitian ini memberikan wawasan yang komprehensif mengenai peran kebijakan fiskal dalam perekonomian Indonesia dan memberikan rekomendasi kebijakan yang dapat diimplementasikan untuk mencapai tujuan ekonomi yang diinginkan. Fiscal policy is one of the main instruments used by the government to manage the economy. This study aims to analyze the impact of fiscal policy on the Indonesian economy, focusing on economic growth, price stability, and income distribution. The research method used is a literature study by collecting secondary data from various sources such as journals, books, scientific articles, and official reports. The results show that fiscal policy has a significant impact on economic growth, where taxes, goods spending, and subsidies have a positive correlation, while foreign debt and employee spending have a negative correlation. Additionally, fiscal policy also plays a role in controlling inflation and maintaining price stability through the regulation of government spending and revenue. Income distribution and improving public welfare are also important focuses of fiscal policy. This study provides a comprehensive insight into the role of fiscal policy in the Indonesian economy and offers policy recommendations that can be implemented to achieve desired economic goals.
8

Sow, Moussé, and Ivohasina Razafimahefa. "Fiscal Decentralization and Fiscal Policy Performance." IMF Working Papers 17, no. 64 (2017): 1. http://dx.doi.org/10.5089/9781475588606.001.

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Leith, C. "Fiscal Stabilization Policy and Fiscal Institutions." Oxford Review of Economic Policy 21, no. 4 (December 1, 2005): 584–97. http://dx.doi.org/10.1093/oxrep/gri033.

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Buiter, Willem H., and Kenneth M. Kletzer. "Fiscal policy coordination as fiscal federalism." European Economic Review 36, no. 2-3 (April 1992): 647–53. http://dx.doi.org/10.1016/0014-2921(92)90123-e.

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You might also be interested in the extended bibliographies on the topic 'Fiscal policy' for particular source types:
Journal articles Dissertations / Theses Books

Dissertations / Theses on the topic "Fiscal policy":

1

Forcades, Pujol Alejandro. "Essays on fiscal policy." Doctoral thesis, Universitat Autònoma de Barcelona, 2016. http://hdl.handle.net/10803/404256.

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Esta tesis doctoral desarrolla tres temas relacionados con la política fiscal en el campo de la macroeconomía. El primer artículo evalúa las implicaciones cuantitativas de la política fiscal óptima en un modelo con evasión fiscal. El resultado de Chamley-Judd de que el impuesto al capital en el largo plazo es cero no se cumple debido a la presencia conjunta de las evasiones fiscales del impuesto del consumo y trabajo, no incluso si expandimos el modelo introduciendo la evasión del impuesto del capital en economía cerrada. En contraste a Coleman (2000), encontramos que subsidiar el trabajo no es óptimo. En la parte cuantitativa, demostramos que el planificador Ramsey recorta los impuestos del trabajo, capital y consumo; que el impuesto sobre el consumo es considerablemente inferior al impuesto del trabajo; y que menores impuestos al trabajo y consumo reducen sus respectivos niveles de evasión fiscal. Además, las ganancias de bienestar asociadas con este experimento de política son substanciales. En el segundo artículo introducimos la evasión del impuesto al consumo a previos modelos macroeconómicos sobre economía sumergida. El modelo presentado en este artículo es el primero que trata conjuntamente las evasiones del impuesto al trabajo y al consumo. Introduciendo un shock TFP que afecta de la misma forma a los sectores declarado y no declarado, somos capaces de producir una evolución contracíclica de la evasión fiscal y mejoramos la bondad del modelo con respecto a los datos. También, exploramos las consecuencias de nuestro modelo para el sistema impositivo; concretamente, demostramos que puede ser inviable trasladar la carga fiscal de la imposición directa a la indirecta. Las curvas de Laffer son más planas que en el modelo sin evasión fiscal. Los límites impuestos por la evasión son más estrictos para el impuesto al consumo, para el cual la pendiente negativa de la curva de Laffer empieza aproximadamente en un tipo del 10%. Finalmente, el último artículo pretende estudiar cuáles habrían sido los efectos totales y heterogéneos de implementar los llamados Eurobonos en la crisis Europea de la deuda soberana (2009-12). Concretamente, nos centramos en la propuesta de Delpla y von Weizsäcker (2010). La Euro área es dividida en cuatro grupos de acuerdo a sus niveles de deuda pública y sus respectivos retornos de los bonos durante la crisis de la deuda soberana, y para cada grupo se desarrolla un modelo de economía pequeña y abierta sin (modelo de referencia) y con Eurobonos. Además, consideramos tres escenarios para los retornos de los Eurobonos: bajo, medio y alto. Los GIIPS (grupos I y II) son capaces de reducir el efecto desplazamiento sobre la inversión productiva, los impuestos y la deuda así como incrementar el PIB y el bienestar en todos los escenarios. El resto de países (grupos III y IV) pierden en términos de PIB, bienestar y deuda para los retornos medio y alto. En los bajos, todos los grupos están mejor. Por lo tanto, el mensaje clave es que los Eurobonos podrían ser una buena política para abordar periodos de primas de riesgo crecientes, pero su grado de éxito depende del nivel de compromiso.
This doctoral thesis develops three topics on fiscal policy in the field of macroeconomics. The first paper assesses the quantitative implications of optimal fiscal policy in a model with tax evasion. The Chamley-Judd result of a zero capital tax in the long run does not hold due to the presence of both labor income and consumption tax evasions, not even if we expand the model by introducing capital tax evasion in closed economy. In contrast to Coleman (2000), we find that subsidizing labor is not optimal. In the quantitative part, we show that the Ramsey planner cuts consumption, labor, and capital taxes; that the optimal tax rate on consumption is considerably lower than the optimal tax rate on labor income; and that lower taxes on labor and consumption reduce their respective levels of tax evasion. In addition, the welfare gains associated with this policy experiment are substantial. The second paper extends previous macroeconomic frameworks on shadow economy with consumption tax evasion. The model presented here is the first one to jointly tackle both labor income and consumption tax evasions. By introducing a TFP shock that affects equally both the declared and undeclared sectors, we are able to produce a countercyclical evolution of tax evasion and improve the fit of the model to the data. We also explore the consequences for taxation of our framework; specifically, we show that it may be unfeasible to implement tax shifts implying significant reductions of income tax in favor of higher excises on consumption. Laffer curves are flatter than in the model without tax evasion. The limits imposed by tax evasion are stricter for consumption tax, for which the slippery slope of the Laffer curve starts roughly at a mere rate of 10%. Finally, the last paper aims to study what would have been the overall and heterogeneous effects of implementing the so-called Eurobonds in the European sovereign debt crisis (2009-12). Specifically, we focus on the proposal by Delpla and von Weizsäcker (2010). The Euro area is divided in four groups according to their initial government debts and their respective bond yields during the sovereign debt crisis, and a small open economy model is set up for each one without (baseline model) and with Eurobonds. In addition, we consider three scenarios for Eurobond yields: low, medium, and high. GIIPS (groups I and II) are able to reduce the crowding-out effect on productive investment, taxes, and debt as well as increase GDP and welfare in all scenarios. The rest of countries (groups III and IV) lose in terms of GDP, welfare, and debt in the medium and high yields. In the low, all groups are better off. Therefore, the key message is that Eurobonds could be a good policy to address times of soaring sovereign spreads, but their degree of success depends on the level of commitment.
2

Bermperoglou, Dimitrios. "Essays on fiscal policy." Doctoral thesis, Universitat Autònoma de Barcelona, 2014. http://hdl.handle.net/10803/310610.

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Esta tesis contribuye a tres cuestiones importantes relativas a la política fiscal y sus efectos a corto plazo sobre la economía real. El primer capítulo investiga cómo la riqueza de la vivienda y las restricciones colaterales contribuyen en forma conjunta a la transmisión no lineal de los shocks de política fiscal. Un modelo de equilibrio general dinámico y estocástico (DSGE) que asume inversión en vivienda y restricciones colaterales que ocasionalmente son válidas, revela un patrón no lineal de las respuestas a los shocks fiscales: los shocks positivos de consumo del gobierno son más expansivos en momentos que la riqueza inmobiliaria es relativamente alta y las restricciones colaterales son flojas, mientras que las reducciones de impuestos son más expansivas en momentos que la riqueza inmobiliaria es baja y las restricciones colaterales son válidas. La evidencia empírica, utilizando un modelo VAR no lineal, confirma las predicciones teóricas. En el segundo capítulo se comparan los efectos de los ajustes fiscales en los diferentes tipos de gastos del gobierno al producto nacional, el desempleo y el déficit en los EE.UU., Canadá, Japón y el Reino Unido. Los shocks del consumo público, la inversión pública, el empleo y los salarios públicos se identifican en un VAR estructural, utilizando restricciones de signo derivadas de un modelo DSGE que asume (i) fricciones en el mercado laboral del sector privado y público, (ii) participación laboral endógena y (iii) desempleados heterogéneos. Recortes de empleo del gobierno inducen a pérdidas más altas del producto nacional, a reducciones del déficit más pequeñas y a mayor desempleo en los EE.UU. y el Reino Unido. Por otra parte, los recortes salariales generan las menores pérdidas en el producto nacional y el desempleo, y las más altas ganancias en déficit que otros shocks. La última parte estudia los efectos de la política fiscal desagregada sobre la balanza comercial y el tipo de cambio real. Estimaciones de un VAR estructural revelan patrones distintos para todos los shocks. Los shocks positivos de consumo público e inversión pública inducen una caída del consumo privado, una depreciación real y una mejora de la balanza comercial de los EE.UU. Los shocks positivos de empleo público causan un aumento en el consumo privado, una depreciación real y una mejora de las exportaciones netas de los EE.UU. Por último, los shocks de los salarios públicos inducen una disminución del consumo privado, una apreciación real y un deterioro de la balanza comercial. Un modelo DSGE que asume fricciones en el mercado laboral y mercados financieros internacionales completos, puede replicar de forma satisfactoria las respuestas empíricas a los shocks de empleo y salario público. Sin embargo, una discrepancia surge con respecto a los shocks de consumo público e inversiones públicas: una caída del consumo privado, como respuesta a esos shocks, se acompaña de una depreciación real en la parte empírica, mientras que se acompaña de una apreciación real en teoría.
This thesis contributes to three important issues relating to fiscal policy and its short-run effects on the real economy. The first chapter investigates how housing wealth dynamics and collateral constraints jointly matter for the non-linear transmission of fiscal policy shocks. A dynamic stochastic general equilibrium (DSGE) model with housing investment and occasionally binding collateral constraints reveals a non-linear pattern of responses to fiscal shocks: positive government consumption shocks are more expansionary during times that housing wealth is relatively high and the collateral constraint is slack, while tax cuts are more expansionary during times that housing wealth is low and the collateral constraint binds. In the second chapter, we compare output, unemployment and deficit effects of fiscal adjustments in different types of government outlays in the US, Canada, Japan, and the UK. Shocks to government consumption, investment, employment and wages are identified in a structural VAR, using sign restrictions from a sticky price DSGE model with matching frictions in the private and public sector, endogenous labor participation and heterogeneous unemployed jobseekers. Government employment cuts induce the highest output losses, the smallest deficit reductions and significant unemployment increases in the US and the UK. On the other hand, wage cuts generate the lowest output and unemployment losses, and typically the highest deficit gains. The last part studies the effects of disaggregated fiscal policy on the trade balance and the real exchange rate. Structural VAR estimations reveal distinct patterns for all shocks. Government (non-wage) consumption and investment shocks induce a fall in private consumption, a real depreciation and an improvement of the US trade balance. Public employment shocks lead to an increase in private consumption, a real depreciation and an improvement of the US net exports. Finally, public wage shocks induce a decline in private consumption, a real appreciation and a deterioration of the trade balance. A two-country DSGE model with frictions in the labor market and complete international financial markets can replicate satisfactorily the empirical responses to government employment and wage shocks. However, a correlation puzzle emerges for public consumption and investment shocks: a fall in private consumption as a response to those shocks is accompanied by a real depreciation in the data, while it is accompanied by a real appreciation in theory.
3

Chatzouz, Moustafa. "Essays on fiscal policy." Thesis, University of Warwick, 2015. http://wrap.warwick.ac.uk/80922/.

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High levels of either public debt or wealth inequality are detrimental to social and economic stability. At a time when reducing public debt and decreasing wealth inequality have become important policy priorities, the question arises about whether these two goals stand in con ict. With this in mind, Chapter 1 assesses the effects of public debt on wealth inequality based on an analytically tractable model of heterogeneous agents. Its scope, in particular, is to investigate whether a reduction of public debt or of budget deficits in general might amplify or not the levels of wealth inequality. In answering this question, we explore a novel channel where, for example, a reduction in budget deficits amplifies wealth inequality due to the change in factor prices, and in particular that of interest rates. Therefore, and besides that our research is the first to explore this type of question, our main contribution is that we show how a change in public debt can affect wealth inequality in an implicit way through the change in factor incomes - that is, the general equilibrium effects. In Chapter 2, on the other hand, we study the design of policies within an endogenous growth model of incomplete markets and partial commitment. Markets are incomplete in two dimensions, the government cannot insure itself from the presence of aggregate risk, and the accumulation of human capital is subject to idiosyncratic risk. Our primary contribution highlights the importance of human capital to effectively manage the economy along the cycle. More specifically, we make a novel argument: taking short run risks are effective responses to a shock that might depress the economy. An investment in human capital which is subject to idiosyncratic risk, serves that purpose. Its returns however, must be protected over-time through an effective provision of liquidity and manipulation of taxes. In our case this policy requires to subsidise physical capital and tax human capital, while the government must own assets. Finally, In Chapter 3 we estimate the fiscal multipliers for Greece. In particular, using the SVAR approach of Blanchard and Perotti we estimate the dynamic effects of government spending and tax revenues on output. The results over the available sample indicate some strong Keynesian effects. That is government spending multipliers are large while the tax multipliers are relatively small. However the conclusions are confined to the peculiarities of the available sample and are not easily exportable to alternative periods or allow any generalizations.
4

Costa, Junior Celso José. "Essays on fiscal policy." reponame:Repositório Institucional da UFPR, 2014. http://hdl.handle.net/1884/36133.

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Orientador : Prof. Dr. Armando Vaz Sampaio
Tese (doutorado) - Universidade Federal do Paraná, Setor de Ciencias Sociais Aplicadas, Programa de Pós-Graduação em Desenvolvimento Ecônomico. Defesa : 02/06/2014
Inclui referências
Resumo: Há uma sensação generalizada na sociedade brasileira sobre a vulnerabilidade fiscal da economia do Brasil. Em vista disso, o objetivo deste trabalho é contribuir para a discussão sobre o papel da política fical como ferramenta de estímulo econômico. Para tanto, analisou-se algumas propostas de política fiscal para a economia brasileira, tanto do lado do gasto público, quanto do lado da desoneração tributária. Para tanto, foi desenvolvido um modelo DSGE Novo-keynesiano para uma economia pequena e fechada com seis choques fiscais: gasto corrente do governo; investimento público; transferência de renda às famílias; desoneração do imposto sobre o consumo; desoneração do imposto sobre a renda do trabalho; e desoneração do imposto sobre a renda do capital. Os parâmetros fiscais foram estimados usando a metodologia Bayesiana, enquanto os outros parâmetros foram calibrados. As políticas de desoneração tributária apresentaram melhores resultados do que as políticas de gasto público. Principalmente, a desoneração do tributo sobre a renda do trabalho. Entre as políticas de gasto, o investimento público foi o único choque que apresentou resultado positivo em relação ao PIB. Resumidamente, o resultado obtido é que políticas voltadas para o aumento da oferta agregada possuíram um resultado mais expressivo e sem pressionar a taxa de inflação.
Abstract: There is a widespread feeling in Brazilian society about the fiscal vulnerability of Brazil's economy. In view of this, the objective this work is to contribute to the discussion about the role of fiscal policy as economic stimulus tool. We discuss some proposals of fical policy for the Brazilian economy, both on the side of public spending and on the side of tax reduction. Thus, a New-Keynesian DSGE model for a small closed economy with six fiscal shocks (current government spending, public investment, income transfers to households, tax reduction on consumption, tax reduction on labor income and tax reduction on capital income) was developed. The fiscal parameters were estimated using the Bayesian methodology, while the other parameters were calibrated. The policies of tax reduction showed better results than the policies of public spending. Mostly, the tax reduction on labor income. Among policies spending, public investment was the only shock that showed positive results in relation to GDP. Briey, the result is that policies aimed at increasing aggregate supply had a more significant result, without to press the ination rate.
5

Gómez-Oliveros, Leyre. "Essays on fiscal policy." Thesis, University of Essex, 2017. http://repository.essex.ac.uk/20525/.

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This thesis consists of three chapters. The first chapter makes use of a New-Keynesian framework to analyze the effects of introducing the public sector in a small open economy, for which a different degree of home-bias for the private and the public sector will be assumed. Once it has been proven that this introduction does not fundamentally vary the original results of the Galí-Monacellli (2005) model, a sensitivity analysis of the effects of such introduction will be made in a setting with different exchange-rate regimes and different degrees of openness. The second chapter develops a DSGE model which features incomplete asset markets, domestic debt denominated either in domestic or foreign currency, a risk premium on such debt and simple feedback rules. We find that in this setting a positive government spending shock leads to expansionary effects on output when exchange rates are allowed to adjust. This effect is reinforced by the real depreciation caused by such policy especially in the case in which debt is denominated in foreign currency. This is not the case under fixed exchange rates, then also under a peg effects are, as expected, quite similar under both currency denominations of debt. The third chapter was written together with Stefan Niemann and Paul Pichler. In it fiscal policy is introduced into a sovereign debt model with endogenous default costs to examine the implications for the determination of the output costs of default. We find that the quantitative properties of the output costs of default, and their dependence on primitives such as the elasticity of labor supply, are distinctly different depending on the margin of fiscal adjustment. The consideration of fiscal policy thus has potentially important implications for the quantitative properties of models of sovereign debt and default.
6

Venes, Nuno. "Fiscal policy: empirical essays." Doctoral thesis, Instituto Superior de Economia e Gestão, 2009. http://hdl.handle.net/10400.5/902.

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Doutoramento em Economia
Throughout this work we empirically analyse three important dimensions of fiscal policy -cyclicality, fiscal forecasts and consolidation episodes. While central government expenditure is, on average, weakly countercyclical in the OECD countries and procyclical in Latin American countries, we find evidence of revenue procyclicality in both groups. Higher levels of income inequality lead to less procyclical policies on the revenue side but are associated with stronger expenditure procyclicality, and better institutions seem unable to mitigate this effect. We also study the track record of fiscal forecasts reported by the EU-15 countries in the context of the Excessive Deficit Procedure. For the budget balance, gross fixed capital formation (GFCF) and interest payments, we study the statistical properties of forecast errors and their politico-institutional determinants. While errors in interest and GFCF expenditure present few systematic patterns, budget balance errors are responsive to fiscal institutions and to opportunistic motivations, especially from 1999 onwards: upcoming elections induce over-optimism, whereas commitment or mixed forms of fiscal governance and numerical expenditure rules (but not deficit and debt rules) are associated with greater prudence. Finally, for the EU-27 countries between 1969 and 2006, we assess those factors that help in explaining successful fiscal consolidations. Gradual episodes (3-4 years) are more likely to be successful than cold-shower adjustments (during a single year). The probability of success also increases in the face of cuts in central government current transfers to lower tiers of government. Finally, while successful cold-shower consolidations are characterised, in the years they occur, by a very limited contribution from politically-sensitive expenditure items, such as government wages and social transfers, these items account for nearly half of the primary expenditure adjustment effort during successful gradual fiscal contractions.
Neste trabalho procedemos à análise empírica de três dimensões da política orçamental -ciclicidade, previsões orçamentais e episódios de consolidação. Enquanto a despesa da Administração Central é, em média, ligeiramente contra-cíclica nos países da OCDE e pro-cíclica na América Latina, encontra-se evidência de prociclicidade das políticas do lado da receita em ambos os grupos de países. A elevada desigualdade de rendimentos conduz a políticas menos pro-cíclicas do lado da receita, mas está associada a uma maior prociclicidade da despesa, sendo que este efeito não parece ser mitigado por melhores instituições. Analisamos também o desempenho das previsões orçamentais reportadas pelos países da UE-15 no contexto do Procedimento dos Défices Excessivos. Para o saldo orçamental, formação bruta de capital fixo (FBCF) e juros pagos, estudamos as propriedades estatísticas dos erros de previsão e os seus determinantes político-institucionais. Enquanto os erros para a despesa com juros e FBCF apresentam poucos padrões sistemáticos, os erros de previsão do saldo orçamental dependem das instituições e de motivações oportunistas, especialmente a partir de 1999: a proximidade de eleições induz sobre-optimismo, enquanto que processos de decisão orçamental baseados em formas ditas de compromisso ou mistas e regras numéricas de despesa (mas não as de défice e dívida) estão associados a uma maior prudência. Finalmente, para os países da UE-27 entre 1969 e 2006, avaliamos os factores que ajudam a explicar o sucesso das consolidações orçamentais. Os episódios graduais (3-4 anos) têm maior probabilidade de sucesso do que os episódios do tipo "cold-shower" (que duram apenas 1 ano). A probabilidade de sucesso também aumenta na presença de reduções nas transferências correntes da Administração Central para outros sub-sectores. Enquanto as consolidações "cold-shower" bem sucedidas se caracterizam, no ano em que ocorrem, por um contributo muito limitado de rubricas de despesa politicamente sensíveis, como os salários da Administração Pública e as transferências sociais, estas rubricas contribuem com cerca de metade do esforço do ajustamento da despesa primária durante as consolidações graduais bem sucedidas.
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Semedo, Neves José de Anchieta. "Essays on Fiscal Policy." Doctoral thesis, Universitat Autònoma de Barcelona, 2021. http://hdl.handle.net/10803/673973.

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En aquesta tesi, treballo en tres assajos independents sobre política fiscal. Tot i que la motivació està relacionada amb els reptes brasilers, els resultats serveixen de referència a altres economies en desenvolupament. En el primer capítol, discuteixo les respostes de les polítiques en un context de recessió profunda, avaluant diferents normes fiscals. En el segon capítol, estudio la política fiscal òptima quan un país experimenta un augment brusc dels ingressos fiscals a causa de la pèrdua de recursos naturals no renovables. El capítol 3 explora l’impacte de la despesa pública en el benestar dels ciutadans en diferents àmbits d’actuació del govern. Junts, aquests capítols aporten una contribució a un ampli espectre de discussions sobre política fiscal. A l’hora d’avaluar diferents normes fiscals i les seves implicacions per a les decisions polítiques, exploro la rellevància d’obrir un espai fiscal a un govern que apliqui una política anticíclica, fins i tot trobant proves que aquesta política no és desitjable com a norma general. A més, en estudiar polítiques òptimes a l’hora d’enfrontar-nos a un risc inesperat de recursos naturals, mostro la importància d’un comportament responsable de l’estalvi del govern per desafiar la incertesa en la gestió de la riquesa intergeneracional. Finalment, estudiar l’impacte de la despesa pública en el benestar de les persones posa de manifest que potser els governs no utilitzen de manera eficient els pagaments d’impostos dels ciutadans.
En esta tesis, trabajo en tres ensayos independientes sobre política fiscal. Si bien la motivación se relaciona con los desafíos brasileños, los resultados sirven de referencia a otras economías en desarrollo. En el primer capítulo, analizo las respuestas de política en un contexto de recesión profunda, evaluando distintas reglas fiscales. En el segundo capítulo, estudio la política fiscal óptima cuando un país experimenta un aumento abrupto de los ingresos fiscales debido a una ganancia inesperada de recursos naturales no renovables. El Capítulo 3 explora el impacto del gasto público en el bienestar de los ciudadanos en distintas áreas de acción del gobierno. Juntos, estos capítulos aportan una contribución a un amplio espectro de debates sobre política fiscal. Al evaluar las distintas reglas fiscales y sus implicaciones para las decisiones de política, exploro la relevancia de abrir el espacio fiscal para que un gobierno implemente una política contracíclica, incluso encontrando evidencia de que esta política no es deseable como regla general. Además, al estudiar las políticas óptimas cuando se trata de una ganancia inesperada de recursos naturales, muestro la importancia del comportamiento de ahorro gubernamental responsable para desafiar la incertidumbre en la gestión de la riqueza intergeneracional. Finalmente, al estudiar el impacto del gasto público en el bienestar de las personas, se destaca que tal vez los gobiernos no estén utilizando de manera eficiente los pagos de impuestos de los ciudadanos.
In this thesis, I work on three independent essays concerning fiscal policy. Even though the motivation relates to the Brazilian challenges, the results serve as references to other developing economies. In the first chapter, I discuss policy responses in a deep recession context, assessing distinct fiscal rules. In the second chapter, I study optimal fiscal policy when a country experiences an abrupt increase in fiscal revenues due to a nonrenewable natural resource windfall. Chapter 3 explores the impact of public expenditures on citizens' well-being in distinct government action areas. Together, these chapters bring a contribution to an ample spectrum of fiscal policy discussions. In assessing distinct fiscal rules and their implications for policy decisions, I explore the relevance to open fiscal space to a government implement a countercyclical policy, even finding evidence that this policy is not desirable as a general rule. In addition, by studying optimal policies when dealing with a natural resource windfall, I show the importance of responsible government savings behavior to challenge uncertainty in intergenerational wealth management. Finally, studying the impact of public expenditures on people's well-being highlights that maybe governments are failing to use in an efficient way citizens' tax payments.
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Jerow, Samuel B. "Fiscal Policy and Uncertainty." Miami University / OhioLINK, 2018. http://rave.ohiolink.edu/etdc/view?acc_num=miami1533112993662019.

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Arai, Real. "Fiscal Policy and Macroeconomics." Kyoto University, 2012. http://hdl.handle.net/2433/157496.

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Pham, Hien-Thuc T. "Culture and Fiscal Policy." Thesis, Griffith University, 2019. http://hdl.handle.net/10072/386765.

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This thesis, structured around three empirical studies, examines how culture affects policy and economic outcomes in a sample of 62 developed and developing countries spanning the period 1980-2015. More specifically, the studies investigate different cultural traits and their impacts on various outcomes such as fiscal policy choice, fiscal response to cyclical fluctuations and economic volatility. In so doing, this thesis enriches the emerging literature on the economics of culture and the political economy literature to examine: (i) how cultural differences can explain variation in different aspects of fiscal policy across countries, (ii) how culture and fiscal policy jointly determine economic volatility and (iii) the stabilising role of fiscal policy. The first two research areas have remained largely unexplored in the literature whilst the third is still under intensive debate given a lack of consensus among researchers. The first study focuses on the role of culture in determining the size of government. To that purpose, three theoretical hypotheses on the relationship between “thrift” (the proxy of culture) and government consumption are tested using panel data. Data for thrift and other culture variables used in this thesis are from the World Values Survey. Thrift represents the wise management of money and resources and it is also a summary concept for all psychological factors that affect saving. The main finding of this study is that government consumption is higher in thriftier countries, which is put down to thrifty individuals preferring to substitute their own consumption with government consumption, thus resulting in increased private savings and larger governments. The positive effect of thrift on government consumption, however, weakens in more corrupt societies. The second study extends the aforementioned investigation in considering culture as a driver of fiscal policy. Of particular interest is the extent to which fiscal policy is used countercyclically in order to stabilise the business cycles, with the emphasis on the downside of the cycles. Therefore, this study concentrates on the discretionary fiscal expenditure rather than the total government size. The relevant culture proxy captures individuals’ attitude towards economic stability, denoted in this thesis as “stability preference”. Estimations using both panel and cross-sectional models report that a stronger cultural preference for stability effectively results in governments increasing expenditure to counter negative cyclical shocks. This in turn makes fiscal policy more countercyclical. The third study more generally examines the relationship between cultural and economic volatility. In particular, the chapter tests the proposition that societies with a higher level of “trust” tend to trade and invest more, thus leading to more diversified economic structures that are less vulnerable to idiosyncratic shocks. This high trust – low volatility hypothesis is tested using a regression framework that has volatility as a dependent variable. Independent variables are trust and other determinants of volatility such as macroeconomic policy, term of trade and geographical variables. Thus, while assessing the impact of trust on output volatility, this study also revisits the stabilising role of fiscal policy. Empirical evidence shows that high trust levels have volatility-reducing effects. Moreover, although fiscal policy does respond to business cycles, there is neither a significant stabilising nor destabilising effect of fiscal policy. The overall findings from these three inter-related studies contribute to the literature on the economics of culture and, more generally to the political economy literature. Empirical results suggest that culture is a fundamental driver of economic development. Different aspects of culture shape different aspects of policy outcomes as well as aggregate macroeconomic outcomes. This thesis also provides policy implications regarding the size and scope of government, types of fiscal response during economic downturns and the effectiveness of fiscal policy in stabilising the economy.
Thesis (PhD Doctorate)
Doctor of Philosophy (PhD)
Dept Account,Finance & Econ
Griffith Business School
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Books on the topic "Fiscal policy":

1

Barrell, Ray. Fiscal solvency and fiscal policy. London: National Institute of Economic and Social Research, 1994.

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Kopits, George, and Steven Symansky. Fiscal Policy Rules. Washington, D.C.: International Monetary Fund, 1998. http://dx.doi.org/10.5089/9781557757043.084.

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Ihori, Toshihiro, and Keigo Kameda. Procyclical Fiscal Policy. Singapore: Springer Singapore, 2018. http://dx.doi.org/10.1007/978-981-13-2995-1.

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Finanzen, Germany Bundesministerium der, ed. Fiscal policy 2000. Bonn: Bundesministerium der Finanzen, Referat Öffentlichkeitsarbeit, 1996.

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Auerbach, Alan J. Dynamic fiscal policy. Cambridge [Cambridgeshire]: Cambridge University Press, 1987.

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Khemani, Stuti. Populist fiscal policy. [Washington, D.C: World Bank, 2008.

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Kopits, George. Fiscal policy rules. Washington, DC: International Monetary Fund, 1998.

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Larch, Martin. Fiscal rules, inertia and discretionary fiscal policy. Brussels: European Commission, Directorate-General for Economic and Financial Affairs, 2003.

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John, Sargent, ed. Fiscal and monetary policy. Toronto: University of Toronto Press, 1986.

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Fisher, Douglas. Monetary and Fiscal Policy. London: Palgrave Macmillan UK, 1988. http://dx.doi.org/10.1007/978-1-349-05733-7.

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Book chapters on the topic "Fiscal policy":

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Das, Sibabrata, Alex Mourmouras, and Peter Rangazas. "Fiscal Policy." In Springer Texts in Business and Economics, 59–91. Cham: Springer International Publishing, 2018. http://dx.doi.org/10.1007/978-3-319-89755-4_3.

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Carlberg, Michael. "Fiscal Policy." In Monetary and Fiscal Strategies in the World Economy, 18–22. Berlin, Heidelberg: Springer Berlin Heidelberg, 2009. http://dx.doi.org/10.1007/978-3-642-10476-3_3.

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Carlberg, Michael. "Fiscal Policy." In Monetary and Fiscal Strategies in the World Economy, 35–40. Berlin, Heidelberg: Springer Berlin Heidelberg, 2009. http://dx.doi.org/10.1007/978-3-642-10476-3_6.

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Evans-Pritchard, John. "Fiscal Policy." In Macroeconomics, 203–29. London: Palgrave Macmillan UK, 1985. http://dx.doi.org/10.1007/978-1-349-17926-8_10.

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Seeley, Karl. "Fiscal Policy." In Studies in Ecological Economics, 239–44. Cham: Springer International Publishing, 2017. http://dx.doi.org/10.1007/978-3-319-51757-5_13.

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Krugman, Paul, and Robin Wells. "»Fiscal Policy." In Economics, 693–720. London: Macmillan Education UK, 2006. http://dx.doi.org/10.1007/978-1-349-91968-0_30.

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Goodwin, Neva, Jonathan M. Harris, Julie A. Nelson, Pratistha Joshi Rajkarnikar, Brian Roach, and Mariano Torras. "Fiscal Policy." In Macroeconomics in Context, 340–78. 4th ed. New York: Routledge, 2022. http://dx.doi.org/10.4324/9781003251521-13.

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Rush, Philip. "Fiscal Policy." In Real Market Economics, 61–77. London: Palgrave Macmillan UK, 2017. http://dx.doi.org/10.1057/978-1-349-95278-6_4.

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Dullien, Sebastian, Neva Goodwin, Jonathan M. Harris, Julie A. Nelson, Brian Roach, and Mariano Torras. "Fiscal Policy." In Macroeconomics in Context, 324–53. New York, NY : Routledge, 2017.: Routledge, 2017. http://dx.doi.org/10.4324/9781315644653-13.

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Carlberg, Michael. "Fiscal Policy." In Monetary and Fiscal Dynamics, 123–36. Heidelberg: Physica-Verlag HD, 1992. http://dx.doi.org/10.1007/978-3-642-47689-1_24.

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Conference papers on the topic "Fiscal policy":

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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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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.
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Menchynska, Olena, Serhii Sobchuk, Zhanna Harbar, and Victor Harbar. "Fiscal policy under economic transformation." In Proceedings of the 6th International Conference on Strategies, Models and Technologies of Economic Systems Management (SMTESM 2019). Paris, France: Atlantis Press, 2019. http://dx.doi.org/10.2991/smtesm-19.2019.41.

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Gao, Ceyue, and Yimiao Que. "Fiscal Policy and Monetary Policy of the UK." In 2022 7th International Conference on Financial Innovation and Economic Development (ICFIED 2022). Paris, France: Atlantis Press, 2022. http://dx.doi.org/10.2991/aebmr.k.220307.370.

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Luarsabishvili, Marine. "GEORGIA FISCAL POLICY AND MACROECONOMIC RISKS." In Integration of business structures: competition and cooperation. Publishing House “Baltija Publishing”, 2021. http://dx.doi.org/10.30525/978-9934-26-036-0-2.

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Malikova, A. Kh. "Medieval Thinkers On Government Fiscal Policy." In Global Challenges and Prospects of The Modern Economic Development. European Publisher, 2021. http://dx.doi.org/10.15405/epsbs.2021.04.02.120.

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Dong Yanmei and Chen Lixian. "Notice of Retraction: On the deficit fiscal policy and China's fiscal deficit." In Business Management and Electronic Information. 2011 International Conference on Business Management and Electronic Information (BMEI 2011). IEEE, 2011. http://dx.doi.org/10.1109/icbmei.2011.5920985.

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Mkiyes, Hussein. "How the Fiscal Council Rules Influence the Fiscal Stability." In EDAMBA 2023: 26th International Scientific Conference for Doctoral Students and Post-Doctoral Scholars. Bratislava: University of Economics in Bratislava, 2024. http://dx.doi.org/10.53465/edamba.2023.9788022551274.164-174.

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Fiscal councils were established in many European Union countries to promote fiscal discipline and stability. However, fiscal instability persists in the EU. This study analyses the role of fiscal councils in achieving fiscal stability in the EU from 2011-2021 using panel data and the LSDV model. The results indicate a strong causal relationship between fiscal councils and improved fiscal performance. Fiscal councils with legal independence, adequate staffing, budget protections, and fiscal rule monitoring authority demonstrated the greatest impact. However, the effectiveness of fiscal councils may be limited by their recent establishment. While fiscal councils enhance fiscal stability prospects, external crises like COVID-19 can still undermine fiscal policy. The study contributes to understanding fiscal councils’ evolving role in the EU. It uses a broad sample of EU members over an extended period. Further research could examine councils’ performance across different country-specific contexts. Overall, well-designed fiscal councils are beneficial but not sufficient for enduring fiscal stability. Complementary institutions and policy adjustments may be needed, especially during crises.
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Li, Xiangmin, and Yushi Ren. "Government fiscal policy toward SMEs in China." In 2010 Second International Conference on Communication Systems, Networks and Applications (ICCSNA). IEEE, 2010. http://dx.doi.org/10.1109/iccsna.2010.5588904.

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ISTUDOR, Ileana Iulia, and Florina MOCANU. "Fiscal Policy, Prices, Inflation - Dependencies and Interdependences." In International Conference Global interferences of knowledge society, November 16-17th, 2018, Targoviste, Romania. LUMEN Publishing house, 2019. http://dx.doi.org/10.18662/lumproc.131.

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Reports on the topic "Fiscal policy":

1

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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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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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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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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Sinn, Hans-Werner. The ECB's Fiscal Policy. Cambridge, MA: National Bureau of Economic Research, May 2018. http://dx.doi.org/10.3386/w24613.

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Kocherlakota, Narayana. Stabilization with Fiscal Policy. Cambridge, MA: National Bureau of Economic Research, September 2021. http://dx.doi.org/10.3386/w29226.

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Dupor, Bill, Rong Li, and Jingchao Li. Sticky Wages, Monetary Policy and Fiscal Policy Multipliers. Federal Reserve Bank of St. Louis, 2017. http://dx.doi.org/10.20955/wp.2017.007.

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e Castro, Miguel Faria. Fiscal Policy during a Pandemic. Federal Reserve Bank of St. Louis, 2020. http://dx.doi.org/10.20955/wp.2020.006.

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Auerbach, Alan. Fiscal Policy, Past and Present. Cambridge, MA: National Bureau of Economic Research, October 2003. http://dx.doi.org/10.3386/w10023.

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Davig, Troy, Eric Leeper, and Hess Chung. Monetary and Fiscal Policy Switching. Cambridge, MA: National Bureau of Economic Research, March 2004. http://dx.doi.org/10.3386/w10362.

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