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Fiscal Transparency and Procyclical Fiscal Policy
Andersen, Asger Lau; Holbøll Westh Nielsen, Lasse - 2010
This paper examines why fiscal policy is procyclical in developing as well as developed countries. We introduce the concept of fiscal transparency into a model of retrospective voting, in which a political agency problem between voters and politicians generates a procyclical bias in government...
Persistent link: https://www.econbiz.de/10010321001
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Optimal fiscal policy over the business cycle
Occhino, Filippo - 2005
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
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The politics of endogenous growth
Zak, Paul J.; Ghate, Chetan - 2002
Is it politically feasible for governments to engineer endogenous growth? This paper illustrates two reasonable political decision mechanisms by which fiscal policy generates endogenous growth with a single accumulable factor, under a constant returns to scale production technology, and without...
Persistent link: https://www.econbiz.de/10010260647
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Economic growth with constraints on tax revenues and public debt: Implications for fiscal policy and cross-country differences
Aizenman, Joshua; Kletzer, Kenneth; Pinto, Brian - 2007
This paper evaluates optimal public investment and fiscal policy for countries characterized by limited tax and debt capacities. We study a non stochastic CRS endogenous growth model where public expenditure is an input in the production process, in countries where distortions and limited...
Persistent link: https://www.econbiz.de/10010285326
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The Effect of Fiscal Rules on Public Investment if Budget Deficits are Politically Motivated
Dur, Robert A.J.; Peletier, Ben D.; Swank, Otto H. - 1997
Uncertainty about the future preferences of the government may induce policy makers to run excessive budget deficits. As a solution to this problem, economists have proposed to impose a binding debt rule. In this paper we argue that a binding debt rule does not eliminate the distortions due to...
Persistent link: https://www.econbiz.de/10010324588
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Economic growth with constraints on tax revenues and public debt: Implications for fiscal policy and cross-country differences
Aizenman, Joshua; Kletzer, Kenneth; Pinto, Brian - 2007
This paper evaluates optimal public investment and fiscal policy for countries characterized by limited tax and debt capacities. We study a non stochastic CRS endogenous growth model where public expenditure is an input in the production process, in countries where distortions and limited...
Persistent link: https://www.econbiz.de/10010322715
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Fiscal policy in a growth framework
Gemmell, Norman - 2001
and budget deficits—on long-run growth. It considers the relevance of recent advances in growth theory for low … advances in endogenous growth theory have demonstrated that fiscal policy can have long-run effects on economic growth rates … unlikely to hold in low-income countries. Recent theory particularly stresses the importance for growth of the following. The …
Persistent link: https://www.econbiz.de/10010279253
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Government size and business cycle volatility: How important are credit constraints?
Leibrecht, Markus; Scharler, Johann - 2012
In this paper we analyze how the availability of credit influences the relationship between government size as a proxy for fiscal stabilization policy and the amplitude of business cycle fluctuations in a sample of advanced OECD countries. Interpreting relatively low loan-tovalue ratios as an...
Persistent link: https://www.econbiz.de/10010294478
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Fiscal policy in Latin America: better after all?
Daude, Christian; Melguizo, Ángel; Neut, Alejandro - 2010
This paper analyses fiscal policy for several economies in Latin America, from the early nineties to the 2009 crisis. We present original estimates of cyclically-adjusted public revenues for Argentina, Brazil, Chile, Colombia, Costa Rica, Mexico, Peru and Uruguay implementing the standardised...
Persistent link: https://www.econbiz.de/10010302742
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Fiscal policy in Latin America: Countercyclical and sustainable?
Daude, Christian; Melguizo, Ángel; Neut, Alejandro - In: Economics: The Open-Access, Open-Assessment E-Journal 5 (2011) 2011-14, pp. 1-29
This paper analyses fiscal policy for several economies in Latin America, from the early nineties to the 2009 crisis. We present original estimates of cyclically-adjusted public revenues for Argentina, Brazil, Chile, Colombia, Costa Rica, Mexico, Peru and Uruguay implementing the standardised...
Persistent link: https://www.econbiz.de/10010306876