We investigate the effects of different components of government spending on inclusive growth. More specifically, we consider the inclusive impact of public spending on environmental protection, health, education, housing, and social protection, all of which can conceivably promote inclusive...

This paper examines the gender-specific effects of exogenous public spending shocks across a global sample using a novel identification strategy and local projections. We distinguish between investment and consumption shocks and further decompose spending by function: education, health, and...

A Bayesian factor-augmented interacted vector autoregression framework purified of expectations is employed to analyze how government spending shocks have impacted CO2 emissions in the United States from the 1980s to the pre-pandemic period. Consumption-generated emissions are found to have...

We study anchoring effects in the elicitation of multidimensional beliefs within a single survey task using a representative sample of the German voting-age population. Respondents estimated governmentspending levels across several domains (e.g., education, defense, social security), with...

We study anchoring effects in the elicitation of multidimensional beliefs within a single survey task using a representative sample of the German voting-age population. Respondents estimated government-spending levels across several domains (e.g., education, defense, social security), with...

We analyze various determinants of the average price level using a strictly mathematical approach. Starting with the microeconomic perspective, we review the effect of demand shifters such as consumer income and the level of advertising on the average price level in a simple partial market...

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...

For Matías Vernengo and Esteban Pérez Caldentey (2020), the MMT literature overemphasizes the choice of the exchange rate regime and the relevance of a flexible exchange rate regime, as well as the ultimate effect of that choice upon the policy space. In addition, they argue that the role of...

The welfare effects of government redistributive policy have been subject to considerable debate for decades. Against this background, this study explores the effect of government social spending on an empirically constructed measure of well-being in a panel of 16 upper middle-income countries...

This study investigates the asymmetric effects of fiscal policy on inflation (INF) in Kenya using data for the period from 1991 to 2021. The study differs from previous studies by applying the non-linear autoregressive distributed lag (NARDL) modeling to capture asymmetric dynamics. The study...

This study examines the impact of various macroeconomic factors on GDP growth in Albania during the period 1997-2023. Using a panel data approach, the analysis investigates the relationship between GDP growth and variables such as trade openness, inflation, government expenditure, domestic...

This study investigates the impact of privatization on the relationship between gross capital accumulation, employment, labor resources, government spending, and gross domestic product (GDP) in Commonwealth of Independent States (CIS) countries. Employing econometric analysis and cointegration...

Spending elasticities measure the reaction of different government spending components to the business cycle. They are important inputs for fiscal forecasts, and they are particularly relevant in the context of European Union (EU) fiscal rules, as elasticity estimates enter the estimation of...

Private charitable contributions play an essential role in most economies. From a policy perspective, there is concern that comprehensive government spending might crowd out private charitable donations. If perfect crowding out occurs, then every dollar spent by the government will lead to a...

The aim of the article is to quantify and compare the macroeconomic effects of defence spending in the Polish and German economies. Estimating these effects is of particular importance in the context of the substantial increase in defence expenditures in Poland and Germany resulting from the war...

We propose a novel identification design to estimate the causal effects of systematic monetary policy on the propagation of macroeconomic shocks. The design combines (i) a time-varying measure of systematic monetary policy based on the historical composition of hawks and doves in the Federal...

Fiscal policy is made in parliament. We go to the roots of changes of fiscal policy in Germany and use a novel data set on all parliamentary speeches in the Bundestag from 1960 to 2021. We propose an embedding-based approach, which allows the representation of words and documents in a shared...

This paper presents an estimation of the fiscal multipliers for Saudi Arabia, conducted by applying the local projection (LP) method. It also presents an exploration of the non-linear features of fiscal multipliers. The findings showed that (i) consistent with earlier studies, fiscal multipliers...

Hospitals, schools, councils and other parts of the public sector are a major employer in Scotland. The public sector paybill is also a substantial part of government spending. Recent years have seen larger-than-expected increases in both public sector employment and pay, the latter driven by...

At just under £8 billion, spending on schools and childcare is the second-largest area of public service spending in Scotland, behind spending on health. While councils rather than the Scottish Government itself determine how much to spend on schools, they do so in the context of a funding and...

This report analyses the Scottish Government's Budget for 2025-26, with chapters on tax strategy, school spending, public sector pay and more.

The justice system is an important part of how the government upholds the law and maintains public order, making it a significant area of responsibility. In England and Wales, the Ministry of Justice (MoJ) is responsible for funding and overseeing most functions of the justice system, including...

We study anchoring effects in the elicitation of multidimensional beliefs within a single survey task using a representative sample of the German voting-age population. Respondents estimated governmentspending levels across several domains (e.g., education, defense, social security), with...

What determines the effectiveness of military buildups? We introduce the concept of the military multiplier: the percentage increase in military equipment an additional dollar buys. It varies with the costs of allocating resources to military production, depending, among other things, on the...

The upcoming Spending Review will involve some very difficult decisions on public service spending, with virtually no headroom against the government's fiscal rules. The government has set out plans for overall departmental spending to grow by about 1.2% per year in real terms between 2025-26...

We study anchoring effects in the elicitation of multidimensional beliefs within a single survey task using a representative sample of the German voting-age population. Respondents estimated government-spending levels across several domains (e.g., education, defense, social security), with...

A Bayesian factor-augmented interacted vector autoregression framework purified of expectations is employed to analyze how government spending shocks have impacted CO2 emissions in the United States from the 1980s to the pre-pandemic period. Consumption-generated emissions are found to have...

The UK government is consulting on significant reforms to how funding from central government is allocated between English councils. From 2026-27, there will be a new system for allocating funding between councils, which will take account of new official assessments of councils' spending needs...