Search Results - subject:"Budget constraint"

Investment-Saving Comovement and Capital Mobility: Evidence from Century Long U.S. Time Series

Levy, Daniel - In: Review of Economic Dynamics 3 (2000) 1, pp. 100-136

This paper makes three contributions: First, I construct annual time series of gross domestic investment and national saving in the U.S. for the 1897–1949 period using historical component series. I compare the qualitative and quantitative properties of the newly constructed series with the...

Persistent link: https://www.econbiz.de/10012140554

Banking, Commerce, and Antitrust

ARPING, Stefan - Départment d'économétrie et d'économie politique … - 2000

stakes are pro-competitive. The reason is that the bank's equity stake in the competitor hardens the borrower's budget … constraint. This alleviates credit rationing problems and enables the borrower to invest more aggressively. These findings …

Persistent link: https://www.econbiz.de/10005481706

The Fallacy of the Fiscal Theory of the Price Level, Again

Buiter, Willem - CESifo - 2000

constraint must hold identically, that is for all admissible values of the variables entering the budget constraint. Accordingly … ensure the budget constraint is satisfied. If the government overdetermines its fiscal-financial-monetary policy programme …The Fiscal Theory of the Price Level (FTPL) rejects the fundamental 'Ricardian' proposition, that the government budget …

Persistent link: https://www.econbiz.de/10005405949

The effectiveness of employment vouchers : a simple approach

Orszag, Jonathan Michael; Snower, Dennis J. - Institut für Weltwirtschaft (IfW) - 2000

problems of displacement and deadweight. It also examines the roles of the government budget constraint and of the level of …

Persistent link: https://www.econbiz.de/10010955745

The Flypaper Effect: Evidence from the Italian National Health System

Levaggi, Rosella; Zanola, Roberto - Institute of Public Policy and Public Choice - POLIS - 2000

flypaper effect in both models. The introduction of the soft-budget constraint hypothesis results in a stronger effect of …

Persistent link: https://www.econbiz.de/10005577326

Good, Bad or Ugly?on the Effects of Fiscal Rules with Creative Accounting

Milesi-Ferretti, Gian-Maria - International Monetary Fund (IMF) - 2000

Do fiscal rules likely lead to fiscal adjustment, or do they encourage the use of ‘creative accounting’? This question is studied with a model in which fiscal rules are imposed on ‘measured’ fiscal variables, which can differ from ‘true’ variables because there is a margin for...

Persistent link: https://www.econbiz.de/10005769283

Assessing Fiscal Sustainability in Theory and Practice

Chalk, Nigel Andrew; Hemming, Richard - International Monetary Fund (IMF) - 2000

summarizes the general analytical background, focusing on the present value budget constraint, which is the benchmark against …

Persistent link: https://www.econbiz.de/10005604839

Budgetary Convergence in the WEAMU; Adjustment Through Revenue or Expenditure?

Nachega, Jean-Claude; Dore, Ousmane - International Monetary Fund (IMF) - 2000

A regional convergence pact adopted recently by the Conference of Heads of States of WAEMU provides a framework for fiscal convergence similar to the European Union’s Maastricht Treaty. Using bivariate co-integration and error-correction models, this paper investigates the relationship between...

Persistent link: https://www.econbiz.de/10005605088

Fiscal Policy Through Time-Varying Tax Rates; If and How

Kaufman, Martin David - International Monetary Fund (IMF) - 2000

This paper investigates if there are circumstances where time-varying tax rates could improve welfare and whether such policy can effectively be implemented in practice. While, in principle, variable taxes could improve welfare in some cases, the paper highlights the very particular...

Persistent link: https://www.econbiz.de/10005825866

The effectiveness of employment vouchers : a simple approach.

Orszag, Jonathan Michael; Snower, Dennis J. - Kiel Institute for the World Economy - 2000

problems of displacement and deadweight. It also examines the roles of the government budget constraint and of the level of …

Persistent link: https://www.econbiz.de/10008520261