Probably the most enduring result in the theory of optimum income taxation is that, for a sufficiently thin upper tail to the skill distribution, the marginal tax rate should fall rather than rise with income. This paper shows that this result is highly sensitive to a very strong informational...

Contemporary policy debates on the macroeconomics of aid often concentrate on short-run Dutch disease effects, ignoring the possible supply model of aid and public expenditure in which public infrastructure capital generates an inter-temporal productivity spill over for both tradable and...

Contemporary policy debates on the macroeconomics of aid often concentrate on short run Dutch disease effects, ignoring the possible supply side impact of aid financed public expenditure. We present a simple model of aid and public expenditure in which public infrastructure generates an...

It has been argued that the institutions of the CFA Franc zone may have reduced inflation but that they also induced misalignment of the real exchange rate and that this is the explanation for their dismal revenue performance. This paper uses a panel of 22 countries in sub-Saharan Africa to...

This paper examines the relationship between trade liberalization and the budget deficit, which depends on the specifics of country’s economic structure, and the trade regime which is being liberalized. It relates some popular but incomplete approaches to assessing this issue (such as analysis...

This paper sets out to provide an introduction to two sets of questions, and to some relevant literature that has tried to answer them. The first set of questions concern what determines growth in low-income countries, and how the answers are conditioned by the history of fiscal policy design...

This paper sets out to provide an introduction to two sets of questions, and to some relevant literature that has tried to answer them. The first set of questions concern what determines growth in low-income countries, and how the answers are conditioned by the history of fiscal policy design...

Effective public investment requires governments to address the "recurrent cost problem" to ensure operations and maintenance (O&M) expenditures are sufficient to sustain the flow of productive public capital services to private factors of production. Building on the model of Buffie et al...

This paper sets out to provide an introduction to two sets of questions, and to some relevant literature that has tried to answer them. The first set of questions concern what determines growth in low-income countries, and how the answers are conditioned

The moral philosophy of Emmanuel Levinas offers a prospectus of stark impossibility for any programme of business or corporate ethics. It differs from most traditional ethical theories in that for Levinas the ethical develops in a personal meeting of one with the other, rather than residing in...