Similar Search Results

Russia's Regions: Income Volatility, Labour Mobility and Fiscal Policy

Kwon, Goohoon; Spilimbergo, Antonio - C.E.P.R. Discussion Papers - 2005

Russia's regions are heavily exposed to regional income shocks because of an uneven distribution of natural resources and a Soviet legacy of heavily skewed regional specialization. Also, Russia has a limited mobility of labour and lacks fiscal instruments to deal with regional shocks. We assess...

Persistent link: https://www.econbiz.de/10005661764

The Economics of Secession – Analysing the economic impact of the collapse of the former Yugoslavia

Rodriguez-Pose, Andres; Stermsek, Marko - C.E.P.R. Discussion Papers - 2014

This paper looks at the economic impact of secession through the lens of the disintegration of the former Yugoslavia … there has been no favourable economic impact of secession and that how secession was achieved is key in understanding the … subsequent economic performance of the newly independent countries. In cases of secession without conflict, independence did not …

Persistent link: https://www.econbiz.de/10011083216

Political Bargaining in a Federation: Buchanan meets Coase

Gradstein, Mark - C.E.P.R. Discussion Papers - 2004

as in the academic realm. A frequently made point is that allowing free secession may protect the minority’s interests … unattractive for the minority region. In contrast, limiting the secession possibilities by requiring the consent of a majority of …

Persistent link: https://www.econbiz.de/10005788882

Nation Formation and Genetic Diversity

Desmet, Klaus; Le Breton, Michel; Ortuño-Ortín, Ignacio; … - C.E.P.R. Discussion Papers - 2006

determining the likelihood of secession and unification. We provide empirical support for choosing genetic distances as a proxy of … the regions prone to secession and the countries that are more likely to merge. Our framework is further applied to …

Persistent link: https://www.econbiz.de/10005136479

Fiscal Flows in the United States and Canada: Lessons for Monetary Union in Europe

Bayoumi, Tamim; Masson, Paul R - C.E.P.R. Discussion Papers - 1994

Regional flows of federal taxes and transfers within the United States and Canada are used to analyse long-term fiscal flows (the redistributive element) and short-term responses to regional business cycles (the stabilization element). In the United States, long-run flows amount to 22 cents in...

Persistent link: https://www.econbiz.de/10005661584

Should We Worry About the Fiscal Numerology of Maastricht?

Buiter, Willem H. - C.E.P.R. Discussion Papers - 1992

The paper reviews and evaluates in a non-technical manner the economic and political arguments for and against the two fiscal convergence criteria written into the Treaty of Maastricht and its Protocols. In order to qualify for full membership in Economic and Monetary Union (EMU), net general...

Persistent link: https://www.econbiz.de/10005123517

Fiscal Union Consensus Design under the Risk of Autarky

Luque, Jaime; Morelli, Massimo; Tavares, José - C.E.P.R. Discussion Papers - 2011

Inspired by the current debate over the future of the monetary union in Europe, this paper provides a simple model for the determination of the conditions of survival of the common good, which requires the creation of an effective fiscal union. We highlight the importance of institutional design...

Persistent link: https://www.econbiz.de/10009283396

Fiscal Policy and Growth in the OECD

de la Fuente, Angel - C.E.P.R. Discussion Papers - 1997

This paper investigates the impact of public expenditures and taxation on economic growth using panel data for a sample of OECD countries. The empirical results suggest that fiscal policy influences growth through three main channels. First, the government contributes directly to factor...

Persistent link: https://www.econbiz.de/10005504646

The Aggregate Effects of Anticipated and Unanticipated U.S. Tax Policy Shocks: Theory and Empirical Evidence

Mertens, Karel; Ravn, Morten O - C.E.P.R. Discussion Papers - 2008

We provide empirical evidence on the effects of tax liability changes in the United States. We make a distinction between "surprise" and "anticipated" tax shocks. Surprise tax cuts give rise to a large boom in the economy. Anticipated tax liability tax cuts are instead associated with a...

Persistent link: https://www.econbiz.de/10005497768

Debt and the Effects of Fiscal Policy

Favero, Carlo A.; Giavazzi, Francesco - C.E.P.R. Discussion Papers - 2007

A shift in taxes or in government spending (a ”fiscal shock”) at some point in time puts a constraint on the path of taxes and spending in the future, since the government intertemporal budget constraint will eventually have to be met. This simple fact is surprisingly overlooked in analyses...

Persistent link: https://www.econbiz.de/10005497892