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This paper provides a self-contained overview of the present problems of state finances in India. It begins with an … aspects of India's federal system. The paper then reviews the current situation of India's state government finances, going on …
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India. It identifies three channels through which SEZs address these issues: employment generation, skill formation (human … study examines the sectoral and economic composition of SEZ activities in India. It finds that labour intensive, skill … intensive and technology intensive firms co exist in India's zones and, therefore argues that all the three effects described …
Persistent link: https://www.econbiz.de/10011807601
Monetary and fiscal policy do not determine the stochastic path of prices: in the absence of financial policy, there remains indeterminacy indexed by an arbitrary probability measure over the set of states of the world. With an interest rate policy, and only if the asset market is complete,...
Persistent link: https://www.econbiz.de/10010318888
This Working Paper examines options for the design of a workable fiscal union for the euro area. It provides a comparative study of fiscal institutions in the US and euro area in order to supply lessons from the operation of the US fiscal regime that could inform the design of the, hitherto...
Persistent link: https://www.econbiz.de/10014565910
How should taxes, government expenditures, the primary and fiscal surpluses and government liabilities be set over the business cycle? We assume that the government chooses expenditures and taxes to maximize the utility of a representative household, utility is increasing in government...
Persistent link: https://www.econbiz.de/10010263265
This paper deploys a simple stock-flow consistent (SFC) model in order to examine various contentions regarding fiscal and monetary policy. It follows from the model that if the fiscal stance is not set in the appropriate fashionthat is, at a well-defined level and growth ratethen full...
Persistent link: https://www.econbiz.de/10010266538
Latin America is a volatile, crisis-prone region, with limited and inadequate social insurance. Therefore, the long-term as well as the recent poor suffer significantly during crises. Furthermore, social spending is procyclical in the region, but less so than total spending, indicating that the...
Persistent link: https://www.econbiz.de/10010327062
This paper presents a comprehensive cross-country database of fiscal space, broadly defined as the availability of budgetary resources for a government to service its financial obligations. The database covers up to 200 countries over the period 1990-2016, and includes 28 indicators of fiscal...
Persistent link: https://www.econbiz.de/10012060231