There are still differences of opinion about the connection between government expenditure and revenues. This study aims to test hypotheses related to the direction of the relationship between Indonesian government revenues and expenses. By utilizing quarterly time-series data in the period...

This study explores the ‘affordability’ of development targets in six key sectors (health, education, water and sanitation, agriculture and infrastructure), by means of an empirical study examining sectoral expenditure in five low income case study countries in sub-Saharan Africa (Ethiopia,...

The main objective of this research is to identify what other key factor, outside of insufficient investment, could explain the persistent road infrastructure gap in Peru. The hypothesis used here is that the Peruvian state has been acting without a long-term forecast system and, therefore,...

The cyclically adjusted budget balance (CAB) plays a key role in the EU fi scal surveillance framework. It started off in a supporting role in the shadow of the headline defi cit and, before long, turned into the linchpin of the rules of the Stability and Growth Pact. The steep ascent was driven...

In this paper I use a medium scale open economy DSGE model developed by Baksa, Benk and Jakab (2010) for the Hungarian economy. This model provides a notable degree of disaggregation both on the government revenue and expenditure side, being able to capture the shocks that come from fiscal...

This note shows that the Italian Mini BOTs proposed in 2019 bore the potential neither to become Italian legal tender nor to practically increase Italian government debt, but to practically cause a mere reduction in taxation and thence in government spending or transfers. Since the Eurozone...

Credit quality has long been associated with the level of indebtedness. But the sole fact that there are countries with high creditworthiness and large stocks of debt suggests that indebtedness is just one of many factors which determine credit quality. In this paper we investigate the role that...

This paper is to determine the optimality of taxation based on a comparative analysis of income taxation in developed and developing countries. In our opinion, the main idea of income tax should be the optimal distribution of tax literacy on the basis of a direct definition of income of...

Digital innovations in fiscal policy is the du jour for the macro policy makers, especially in the post-demonetisation India. India showcases the early three experiments of digitization in public finance – especially financial inclusion through digital financial services - in the recent...

The government overall budget (actual budget balance) is a one of indicators that could reveal the fiscal policies position responding to different economic situations. This indicator suggests that fiscal policy has been tightened or loosened, and in turn, reflects the impact of government...