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Persistent link: https://www.econbiz.de/10015373784
This paper reviews the literature on the fiscal policy instruments commonly used to reduce transport sector externalities. The findings show that congestion charges would reduce vehicle traffic by 9 to 12 percent and significantly improve environmental quality. The vehicle tax literature...
Persistent link: https://www.econbiz.de/10012552441
Political economy explanations for fiscal profligacy are dominated by models of bargaining among organized interest groups over group-specific targeted benefits financed by generalized taxation. These models predict that governments consisting of a coalition of political parties spend more than...
Persistent link: https://www.econbiz.de/10012552550
Fiscal adjustment becomes like walking up the down escalator when growth-promoting spending is cut so much as to lower growth and thus the present value of future tax revenues to a degree that more than offsets the improvement in the cash deficit. Although short-term cash flows matter, a...
Persistent link: https://www.econbiz.de/10012552607
Fiscal sustainability analysis (FSA) is an important component of macroeconomic analysis for many developing countries. To further enhance understanding of fiscal policy and the constraints faced by policymakers, the authors develop a toolkit for FSA in middle-income countries which builds on...
Persistent link: https://www.econbiz.de/10012552618
Fiscal sustainability analysis (FSA) is an important component of macroeconomic analysis. The authors review various quantitative approaches to FSA with a major objective to bring these approaches together and to present a user-friendly tool for FSA that reflects modern developments. They...
Persistent link: https://www.econbiz.de/10012552621
This paper surveys fiscal policy in developing countries from the point of view of long-run growth. The first section reviews existing methodologies to estimate the effects of fiscal policy shocks and of systematic fiscal policy, with time series or with cross-sectional methods, and their...
Persistent link: https://www.econbiz.de/10012552810
Given that public spending will have a positive impact on GDP if the benefits exceed the marginal cost of public funds, the present paper deals with measuring costs and benefits of public spending. The paper discusses one cost seldom considered in the literature and in policy debates, namely,...
Persistent link: https://www.econbiz.de/10012552821
Solvency is an intertemporal concept, relating to the present value of revenues and expenditures, and encompassing both …
Persistent link: https://www.econbiz.de/10012552830
this debate relates to the effect of the composition of public expenditure on economic growth. Policy makers and some … researchers have argued that expenditure on growth-enhancing functions could enhance future revenue and justify the provision of … "fiscal space" in the budget. But there are no simple ways to identify the growth-maximizing composition of public expenditure …
Persistent link: https://www.econbiz.de/10012552854