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Medicare from the Perspective of Generational Accounting

Gokhale, Jagadeesh; Kotlikoff, Laurence J. - 2022

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/10014158133

Fiscal Zoning and Sales Taxes : Do Higher Sales Taxes Lead to More Retailing and Less Manufacturing?

Burnes, Daria - 2011

We test the hypothesis that local government officials in jurisdictions that have higher local sales taxes are more likely to use fiscal zoning to attract retailing. We find that total retail employment is not significantly affected by local sales tax rates, but employment in big box and anchor...

Persistent link: https://www.econbiz.de/10013127424

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 … debt financing to tax financing, but find no evidence of the renter effect …

Persistent link: https://www.econbiz.de/10013107014

How is Tax Policy Conducted Over the Business Cycle?

Vegh, Carlos A. - 2012

It is well known by now that government spending has typically been procyclical in developing economies but acyclical or countercyclical in industrial countries. Little, if any, is known, however, about the cyclical behavior of tax rates (as opposed to tax revenues, which are endogenous to the...

Persistent link: https://www.econbiz.de/10013112409

Why Do Emerging Markets Liberalize Capital Outflow Controls? Fiscal Versus Net Capital Flow Concerns

Aizenman, Joshua - 2013

In this paper, we provide empirical evidence on the factors that motivated emerging economies to change their capital outflow controls in the recent decades. Liberalization of capital outflow controls can allow emerging market economies (EMEs) to reduce net capital inflow (NKI) pressures, but...

Persistent link: https://www.econbiz.de/10013085490

Informal Taxation

Olken, Benjamin A. - 2010

Informal payments are a frequently overlooked source of local public finance in developing countries. We use microdata from ten countries to establish stylized facts on the magnitude, form, and distributional implications of this "informal taxation." Informal taxation is widespread, particularly...

Persistent link: https://www.econbiz.de/10013151392

Testing the Positive Theory of Government Finance

Bizer, David S. - 2010

and conclude that while there is a substantial smoothing role for debt, one rejects the hypothesis that the first …

Persistent link: https://www.econbiz.de/10013138760

States in Fiscal Distress

Inman, Robert P. - 2010

The 2007-2010 recession has imposed significant fiscal hardships on state and local governments. The result has been state deficits and the need to increase state taxes, cut spending, and withdraw funds from state rainy day accounts. The primary cause of state budget "gaps" has been the rise in...

Persistent link: https://www.econbiz.de/10013142093

Fiscal Rules in India : Are They Effective?

Buiter, Willem H. - 2010

concerning public debt and deficits in India, the background and basic arithmetic of the Fiscal Responsibility and Budget …

Persistent link: https://www.econbiz.de/10013144500

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/10013148384