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An important feature of aid to developing countries is that it is given to the government. As a result, aid should be expected to affect fiscal behaviour. Traditional approaches to modelling fiscal effects are beset by theoretical and empirical problems. This paper applies techniques developed...
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. However, the rest of the world will benefit from an associated decline in the world real interest rate and from a … entitlement program expenditures will crowd out economic growth in the United States and the rest of the world. -- Fiscal policy …
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This paper provides new evidence on the distributional effects of fiscal policy using data on a panel of OECD economies …
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