It has been suggested that …scal federalism is a good way to induce decentralized entities to behave parsimoniously, but this has been largely criticized in the literature, in particular because of the Common-Pool problem. In this paper, we present an extra facet of the latter problem. We...

In this paper we present a microsimulation model to calculate the effects of hypothetical ex-ante price changes in the Spanish energy domain. The model rests on our prior estimation of a demand system which is especially designed for simultaneous analysis of different energy goods and uses...

This paper reviews the key challenges in rebuilding fiscal institutions in post-conflict countries. Based on IMF technical assistance advice, it proposes a three-step framework for the creation or re-establishment of well-functioning public finance institutions: (i) creating a proper legal...

Dentro de los casos más recientes de transición a regímenes de flotación del tipo de cambio, el caso brasileño por su cercanía geográfica e intensidad de la relación bilateral, así como el éxito obtenido en términos de baja inflación en los precios al consumidor, relativa estabilidad...

This paper shows how to shadow price partially traded goods following the standard rules of cost-benefit analysis, i.e. identifying the individuals affected, measuring their corresponding compensating variations, and aggregating those measures according to a distributional value judgement. The...

El presente documento analiza los principales aspectos de la delegación de facultades al Jefe de Gabinete de Ministros (JGM) en relación al gasto público contenidas en el Proyecto de Ley de Presupuesto 2005 remitido por el Poder Ejecutivo al Congreso de la Nación y su impacto sobre el...

Central government matching grants can, in principle, induce socially- efficient provision of local public goods that produce spillover benefits. Local underprovision of public goods may however elicit direct central-government provision and finance (a ``bailout") that makes local residents...

In Nigeria gone are the days when public enterprises were the beacons of the economy due to the perennial low productivity, which is now a tag on them with its resultant ramshackle efficiency. In order to boost the economy a new wind is blowing amongst the developing countries of the world and...