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Political Economics and Public Finance
Persson, Torsten - 1999
Observed fiscal policy varies greatly across time and countries. How can we explain this variation across time and countries? This paper surveys the recent literature that has tried to answer this question. We adopt a unified approach in portraying public policy as the equilibrium outcome of an...
Persistent link: https://www.econbiz.de/10012471701
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Medicare from the Perspective of Generational Accounting
Gokhale, Jagadeesh - 1998
U.S. policy changes and more optimistic fiscal forecasts have significantly improved the long-term fiscal prospects of the country. Nevertheless, these prospects remain dismal. Unless U.S. fiscal policy changes by a lot and very soon, our descendants will face rates of lifetime net taxation that...
Persistent link: https://www.econbiz.de/10012472215
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Debt, Cash Flow and Inflation Incentives : A Swedish Example
Persson, Mats - 1996
The fiscal gains from, and hence the political incentives to, an increase in inflation rate of ten percentage points may be substantial: with Swedish data from 1994, these gains would have been an annual real flow of 3-4 percent of GDP, or a capitalized value of nearly 100 percent of GDP. They...
Persistent link: https://www.econbiz.de/10012473062
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Should the Government's Allocation Branch be Concerned about the Distortionary Cost of Taxation and Distributive Effects?
Kaplow, Louis - 1993
Does taxation for public goods generally involve a distortionary cost? Are Pigouvian taxes desirable because they raise revenue without having to resort to distortionary taxes? Should decisions concerning public goods or Pigouvian taxes depend on whether their incidence is regressive? The answer...
Persistent link: https://www.econbiz.de/10012474374
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Proprietary Public Finance, Political Competition, and Reputation
Grossman, Herschel I. - 1988
Although tax policy in most historical cases has been barely distinguishable from legalized theft, why have tax and spending policies in a few unusually fortunate communities, such as some of the modern democracies, apparently been, if not welfare maximizing, at least relatively benevolent? We...
Persistent link: https://www.econbiz.de/10012476368
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Institutions, Factor Prices and Taxation : Virtues of Strong States?
Acemoglu, Daron - 2010
Many of the most pernicious economic institutions and policies create entry barriers or manipulate factor prices to transfer resources from entrepreneurs and workers to groups that hold political power. These inefficiencies partly result from the fact that direct and efficient fiscal instruments...
Persistent link: https://www.econbiz.de/10012462959
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Methodological Frontiers of Public Finance Field Experiments
Kling, Jeffrey R. - 2007
to make public finance field experiments more useful …
Persistent link: https://www.econbiz.de/10012465725
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Government Finance in the Wake of Currency Crises
Burnside, Craig - 2003
This paper addresses two questions: (i) how do governments actually pay for the fiscal costs associated with currency crises; and (ii) what are the implications of different financing methods for post-crisis rates of inflation and depreciation? We study these questions using a general...
Persistent link: https://www.econbiz.de/10012468912
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On Fiscal Illusion and Ricardian Equivalence in Local Public Finance
Banzhaf, H. Spencer - 2012
We re-evaluate two forms of fiscal illusion in local public finance: debt illusion and renter illusion. The Ricardian … Equivalence Theorem for local governments suggests the form of finance of a public program (tax or debt finance) has no effects on … hundreds of open space referenda in the U.S. using a variety of finance mechanisms, we find evidence that households do prefer …
Persistent link: https://www.econbiz.de/10012460619