Showing 1 - 10 of 529
We analyze the political stability of capital funded social security. In particular, using a stylized theoretical framework we study the mechanisms behind governments capturing pension assets in order to lower current taxes. This is followed by an analysis of the analogous mechanisms in a...
Persistent link: https://www.econbiz.de/10014048872
We analyze the political stability of capital funded social security. In particular, using a stylized theoretical framework we study the mechanisms behind governments capturing pension assets in order to lower current taxes. This is followed by an analysis of the analogous mechanisms in a...
Persistent link: https://www.econbiz.de/10012838237
We analyze the political stability of funded social security. Using a stylized theoretical framework we study the mechanisms behind governments capturing social security assets in order to lower current taxes. The results and the driving mechanisms carry over to a fully-fledged and carefully...
Persistent link: https://www.econbiz.de/10012648353
We analyze the political stability of capital funded social security. In particular, using a stylized theoretical framework we study the mechanisms behind governments capturing pension assets in order to lower current taxes. This is followed by an analysis of the analogous mechanisms in a...
Persistent link: https://www.econbiz.de/10012194597
Persistent link: https://www.econbiz.de/10012317429
It is widely argued that Europe''s unified monetary policy calls for international coordination at the fiscal level. We survey the issues involved in such coordination in the perspective of macroeconomic stabilization. A simple model identifies the circumstances under which coordination may be...
Persistent link: https://www.econbiz.de/10014400111
The paper analyzes some key policy trade-offs involved in the implementation of the Stability and Growth Pact. Greater ""procedural"" flexibility in the Pact''s implementation may improve welfare. Procedural flexibility designates the enforcer''s room to apply judgment on underlying policies and...
Persistent link: https://www.econbiz.de/10014400399
This paper analyzes the decision of a government facing electoral uncertainty to implement structural reforms in the presence of fiscal restraints similar to the Stability and Growth Pact. The model shows that a pact may harm structural reforms, sacrificing future growth for present stability....
Persistent link: https://www.econbiz.de/10014403820
Persistent link: https://www.econbiz.de/10013040786
Persistent link: https://www.econbiz.de/10014580727