Overall, this paper presents a white swan that seems to confirm the hypothesis of Alesina / Tabellini / Campante (2008). Fiscal policy in many developing countries is procyclical. Specifically, the former may explain monetary policy failures associated with problems of political agency. And in...

This paper explores the financial implications of fiscal decentralization policies on the central government's operating budget in Kenya. The paper evaluates how devolved funds under the constituency development fund (CDF) have been utilized to start healthcare capital projects (clinics) at the...

The paper proposes a method to speed up the transition toward the notional contributions pension system in Italy. It seems the most appropriate manner to combine and pursue employment and financial sustainability goals. The method computes percentages for abating the old retributive pensions...

This paper describes an alternative way (other than taxation) to eliminate poverty and unemployment from the world. This is done by creating a single money worldwide, and letting each government subsidize the economy of each country, through acting as a non-profit venture capital subsidizer, by...

We describe Hayek's position on taxation and its subsequent developments. Hayek defends the proportional tax system. If a majority rule corrects deviations from political power must also restrict the conditions of progressive taxation. According to Hayek the progressive tax system (SFP) violates...

In January 2015 the radical left SYRIZA has won the Greek national elections and formed a coalition government with Independent Greeks (ANEL), a right-wing populist party. After a seven-month negotiation with Greece’s creditors and the agreement for the implementation of a third memorandum of...

This study examines the relationship between economic downturns and the number of economics related caricatures in popular humour magazines. To this end, caricatures from editions of the weekly humour magazine Penguen from 2007 to 2011 were collected and categorised and the Misery Index of...

Russian. В пособии рассматриваются основные теоретические и методологические понятия современной экономической науки. В четырёх частях последовательно...

This study utilizes the DSGE model DIGNAD to assess the economic impacts of natural disasters on Madagascar. Four distinct scenarios are analyzed: the first scenario (zero scenario) simulates the effects of a natural shock occurring in 2027. The second scenario evaluates the impact of investing...