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Optimal Debt Policy Under Asymmetric Risk
Escolano, Julio - 2016
In the paper we show that, most of the time, smooth reduction in the debt ratio is optimal for tax-smoothing purposes when fiscal risks are asymmetric, with large debt-augmenting shocks more likely than commensurate debt reducing shocks. Asymmetric risks are a feature of 200 years of data for...
Persistent link: https://www.econbiz.de/10012977785
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Trust What You Hear : Policy Communication, Expectations, and Fiscal Credibility
End, Nicolas; Hong, Gee Hee - 2022
How do policy communications on future f iscal targets af fect market expectations and beliefs about the future conduct of f iscal policy? In this paper, we develop indicators of f iscal credibility that quantify the degree to which policy announcements anchor expectations, based on the...
Persistent link: https://www.econbiz.de/10013295113
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Political Institutions, State Building, and Tax Capacity : Crossing the Tipping Point
Gaspar, Vítor - 2017
paper, we attempt via four case studies - Spain, China, Colombia, and Nigeria - to illustrate that the improvements in tax …
Persistent link: https://www.econbiz.de/10012965070
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Resource Windfalls, Optimal Public Investment and Redistribution : The Role of Total Factor Productivity and Administrative Capacity
Arezki, Rabah - 2012
resource windfall commands a lower level of public capital but a higher level of redistribution through transfers. Second …
Persistent link: https://www.econbiz.de/10013098607
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Fiscal Redistribution and Social Welfare
Coady, David P. - 2019
discussion of fiscal redistribution within the standard social welfareframework, which lends itself to a transparent and … practical evaluation of the extent anddeterminants of fiscal redistribution. Differences in fiscal redistribution are decomposed … factorsexplaining differences in their fiscal redistribution and to discuss patterns in fiscalredistribution highlighted in the …
Persistent link: https://www.econbiz.de/10012889140
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Climate-Related Stress Testing : Transition Risk in Colombia
Sever, Can; Perez-Archila, Manuel - 2022
Colombia. We explore risks imposed on the banking system based on scenarios of an increase in the domestic carbon tax by using …
Persistent link: https://www.econbiz.de/10013306729
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Macroeconomic and Distributional Effects of Personal Income Tax Reforms : A Heterogenous Agent Model Approach for the U.S
Lizarazo Ruiz, Sandra - 2018
This paper assesses the macroeconomic and distributional impact of personal income tax (PIT) reforms in the U.S. drawing on a multi-sector heterogenous agents model in which consumers have non-homothetic preferences and sectors differ in terms of their relative labor and skill intensity. The...
Persistent link: https://www.econbiz.de/10012927466
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Operationalizing Inclusive Growth : Per-Percentile Diagnostics to Inform Redistribution Policies
Kireyev, Alexei - 2020
-percentile consumption diagnostics that could inform redistribution policies. The proposed framework is illustrated in application to Iraq …
Persistent link: https://www.econbiz.de/10012836529
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The Adjustment to Commodity Price Shocks in Chile, Colombia, and Peru
Roch, Francisco - 2017
This paper presents a comparative analysis of the macroeconomic adjustment in Chile,Colombia, and Peru to commodity …
Persistent link: https://www.econbiz.de/10012944968
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Effectiveness and Equity in Social Spending - The Case of Spain
Vtyurina, Svetlana - 2020
Spain is experiencing sustained economic and social disparities in several areas. Social spending policies have a … recent targeted spending reviews. The results suggest that social protection spending should aim to improve redistribution …
Persistent link: https://www.econbiz.de/10012840612