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Politics and Efficiency of Separating Capital and Ordinary Government Budgets

Bassetto, Marco - 2005

government to issue debt to finance capital items only. Many national governments followed this rule in the 18th and 19th …

Persistent link: https://www.econbiz.de/10012467657

Public Finance and Individual Preferences over Globalization Strategies

Hanson, Gordon H. - 2005

freer immigration among natives, especially the more-skilled. Second, there is no public-finance variation in opinion over … trade policy, consistent with the data that U.S. trade policy has negligible fiscal-policy impacts. Public-finance concerns …

Persistent link: https://www.econbiz.de/10012467659

A Small Corner of Intertemporal Public Finance - New Developments in Monetary Economics : 2 Ghosts, 2 Eccentricities, A Fallacy, A Mirage and A Mythos

Buiter, Willem - 2004

Monetary theory and policy are part of intertemporal public finance. The lecture reviews some interesting recent …

Persistent link: https://www.econbiz.de/10012468169

The Role of Immigration in Dealing with the Developed World's Demographic Transition

Fehr, Hans - 2004

This paper and its companion study, Fehr, Jokisch, and Kotlikoff (2004), develop a three-region dynamic general equilibrium life-cycle model to analyze general and skill-specific immigration policy during the demographic transition. The three regions are the U.S., Japan, and the EU. Immigration...

Persistent link: https://www.econbiz.de/10012468181

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

Measuring U.S. Fiscal Capacity using Discounted Cash Flow Analysis

Jiang, Zhengyang; Lustig, Hanno; Nieuwerburgh, Stijn van; … - National Bureau of Economic Research - 2022

We use discounted cash flow analysis to measure a country's fiscal capacity. Crucially, the discount rate applied to projected cash flows includes a GDP risk premium. We apply our valuation method to the CBO's projections for the U.S. federal government's deficit between 2022 and 2051 and debt...

Persistent link: https://www.econbiz.de/10013190996

Shale Public Finance : Local Government Revenues and Costs Associated with Oil and Gas Development

Newell, Richard G. - 2015

Oil and gas development associated with shale resources has increased substantially in the United States, with important implications for local governments. These governments tend to experience increased revenue from a variety of sources, such as severance taxes distributed by the state...

Persistent link: https://www.econbiz.de/10012457127

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/10012459782

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

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/10012460906