Showing 1 - 10 of 29
Even though institutions are created to protect workers, they may interfere with labor market functioning, raise unemployment, and end up being circumvented by informal contracts. This paper uses Brazilian microeconomic data to show that the institutional changes introduced by the 1988...
Persistent link: https://www.econbiz.de/10013106744
Since the global financial crisis, sector-level bargaining has come under renewed scrutiny.While in Southern Europe, the crisis raised concerns about the role of collectivebargaining as an obstacle to labor market adjustment, in Northern Europe it was perceivedmore favourably and, according to...
Persistent link: https://www.econbiz.de/10012929933
Does fiscal decentralization improve health and educational outcomes? Does this improvement depend on the quality of governance? How do fiscal decentralization and governance interact? We answer these questions through an instrumental variable Tobit analysis of cross-country panel data. We find...
Persistent link: https://www.econbiz.de/10014082215
This paper explores the impact of fiscal decentralization on fiscal policy performance in a large sample of advanced and developing economies. The findings suggest that a larger share of decentralized expenditure is associated with a stronger fiscal balance; however, fiscal decentralization can...
Persistent link: https://www.econbiz.de/10012956488
Delegating fiscal decision making power to sub-national governments has been an area of interest for both academics and policymakers given the expectation that it may lead to better and more efficient provision of public goods and services. Decentralization has, however, often occurred on the...
Persistent link: https://www.econbiz.de/10013031168
This paper discusses proposals for common euro area sovereign securities. Such instruments can potentially serve two functions: in the short-term, stabilize financial markets and banks and, in the medium-term, help improve the euro area economic governance framework through enhanced fiscal...
Persistent link: https://www.econbiz.de/10013098632
Several transition economies have undertaken fiscal decentralization reforms over the past two decades along with liberalization, privatization, and stabilization reforms. Theory predicts that decentralization may aggravate fiscal imbalances, unless the right incentives are in place to promote...
Persistent link: https://www.econbiz.de/10013102260
The purpose of this paper is to assess whether expenditure decentralization has contributed to weakening fiscal performance in Europe. Using a panel of EU15 countries for the period 1995-2011, we estimate three econometric models and ask the following questions: (1) does the form of spending...
Persistent link: https://www.econbiz.de/10013085613
Within the context of reigniting post crisis macroeconomic growth, income inequality has emerged as a topic of significant interest for both academics and policymakers (Bastagli, Coady, and Gupta, 2012) This study builds on past literature on fiscal decentralization suggesting that...
Persistent link: https://www.econbiz.de/10013053956
This paper discusses how decentralized countries can achieve sound fiscal relations between the central government and lower government levels. The concepts of 'vertical gap' and 'vertical balance' provide an analytical framework for identifying and addressing key challenges. These concepts can...
Persistent link: https://www.econbiz.de/10012895109