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Independent Fiscal Councils : Recent Trends and Performance
Beetsma, Roel - 2018
Countries increasingly rely on independent fiscal councils to constrain policymakers' discretion and curb the bias towards excessive deficits and pro-cyclical policies. Since fiscal councils are often recent and heterogeneous across countries, assessing their impact is challenging. Using the...
Persistent link: https://www.econbiz.de/10012918572
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Managing and Controlling Extrabudgetary Funds
Radev, Dimitar - 2007
This paper addresses issues relating to the establishment and financial management of extrabudgetary funds (EBFs), a large group of government entities that on average accounts for 40 to 45 percent of central government expenditure-two-thirds of which represents social security funds-in...
Persistent link: https://www.econbiz.de/10012777946
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Fiscal Rules and the Budget Process
Milesi-Ferretti, Gian Maria - 2006
This paper examines the rationale for the imposition of fiscal rules as a way to reduce budgetary imbalances. It presents theoretical arguments for the existence of a quot;fiscal deficit biasquot; and the empirical evidence on the economic, political and institutional factors leading to this...
Persistent link: https://www.econbiz.de/10012782040
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Budgetary Transparency for Public Expenditure Control
Reviglio, Franco - 2021
This paper explains why EMU countries seem unable or unwilling to undertake structural reforms of public expenditure. One of the reasons is political. What public expenditure reforms might be pursued without changing the political system? Without political reforms, technical improvements made to...
Persistent link: https://www.econbiz.de/10013317969
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Do IMF Programs Stimulate Private Sector Investment?
Bomprezzi, Pietro; Marchesi, Silvia; Turk Ariss, Rima - 2022
of firm investment and its growth, and we also document the presence of two financial channels; the degree of firms … ownership data, we find that private investments are stimulated more for domestic firms. The presence of a private investment …
Persistent link: https://www.econbiz.de/10014079012
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Macroeconomic Effects of Dividend Taxation with Investment Credit Limits
Ghilardi, Matteo; Zilberman, Roy - 2022
-binding investment credit limit. Permanent dividend tax reforms distort capital investment decisions in the binding long-run equilibrium …
Persistent link: https://www.econbiz.de/10014079906
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Strengthening Public Expenditure Efficiency : Investment and Social Spending in Bulgaria
Hallaert, Jean-Jacques; Primus, Keyra - 2022
efficiency of spending is, therefore, crucial. This paper discusses how this can be achieved in four areas (public investment …
Persistent link: https://www.econbiz.de/10014082662
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Leverage Shocks : Firm-Level Evidence on Debt Overhang and Investment
Cevik, Serhan; Miryugin, Fedor - 2021
-pronged approach to investigate the relationship between corporate leverage and fixed investment spending. The empirical analysis …
Persistent link: https://www.econbiz.de/10013250075
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Confidence as a Driver of Private Investment in Selected Countries of Central America
Janada, Carlos Alfredo; Teodoru, Iulia Ruxandra - 2021
This paper argues that structural weaknesses may make private investment particularly sensitive to business confidence … relative to other traditional investment drivers and global shocks. It gauges the importance of confidence over recent years in …, including a set of investment drivers (interest rates, unit labor costs, and confidence) is analyzed. The findings suggest that …
Persistent link: https://www.econbiz.de/10013250091
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Institutionalizing Countercyclical Investment : A Framework for Long-Term Asset Owners
Jones, Bradley - 2016
valuations? And if countercyclical investment (with both market-stabilizing and return-generating properties) is a public and …
Persistent link: https://www.econbiz.de/10012996063