Results 1 - 10 of 104

Public finance and individual preferences over globalization strategies. Economics and Politics. Forthcoming

by Gordon H. Hanson, Kenneth Scheve, Matthew, J. Slaughter , 2005
"... Do preferences toward globalization strategies vary across publicfinance regimes? In this paper, we use data on individual preferences toward immigration and trade policy to examine how pre-tax and posttax cleavages differ across globalization strategies and state fiscal jurisdictions. High exposure ..."
Abstract - Cited by 58 (1 self) - Add to MetaCart
exposure to immigrant fiscal pressures reduces support for freer immigration among U.S. natives, especially the more skilled. The magnitude of this post-tax fiscal cleavage is comparable to the pretax labor-market effects of skill itself. There is no public-finance variation in opinion over trade policy

Political and Economic Determinants of Budget Deficits

by Nouriel Roubini, Jeffrey D. Sachs - in the Industrial Economies.” European Economic Review 33 , 1989
"... Given the large deficits in many OECD countries in recent years, and the resulting sharp rise in the public debt, it is important to determine the economic and political forces leading to such large deficits. We lind only partial support for the ‘equilibrium approach to liscal policy’, which assumes ..."
Abstract - Cited by 298 (3 self) - Add to MetaCart
assumes that tax rates are set over time in order to minimize the excess burden of taxation. We suggest hat in several countries the slow rate at which the post-‘73 fiscal deficits were reduced resulted from the difliculties of political management in coalition governments. There is a clear tendency

Fiscal Shocks and their Consequences

by Craig Burnside, Martin Eichenbaum, Jonas D. M. Fisher - Journal of Economic Theory , 2004
"... This paper investigates the response of hours worked and real wages to fiscal policy shocks in the U.S. during the post World War II era. We identify these shocks with exogenous changes in military purchases and argue that they lead to a persistent increase in government purchases and tax rates on c ..."
Abstract - Cited by 77 (5 self) - Add to MetaCart
This paper investigates the response of hours worked and real wages to fiscal policy shocks in the U.S. during the post World War II era. We identify these shocks with exogenous changes in military purchases and argue that they lead to a persistent increase in government purchases and tax rates

Fluctuating Macro Policies and the Fiscal Theory

by Troy Davig, Eric, M. Leeper - NBER Macroeconomics Annual , 2006
"... Abstract. This paper estimates regime-switching rules for monetary policy and tax policy over the post-war period in the United States and imposes the estimated policy process on a calibrated dynamic stochastic general equilibrium model with nominal rigidities. Decision rules are locally unique and ..."
Abstract - Cited by 29 (5 self) - Add to MetaCart
Abstract. This paper estimates regime-switching rules for monetary policy and tax policy over the post-war period in the United States and imposes the estimated policy process on a calibrated dynamic stochastic general equilibrium model with nominal rigidities. Decision rules are locally unique

The Fiscal Impacts of

by Philip A. Trostel, Philip Trostel
"... This study quantifies one important part of the economic return to public investment in college education, namely, the fiscal benefits associated with greater college attainment. College graduates generally pay much more in taxes than those not going to college. Government expenditures are also gene ..."
Abstract - Add to MetaCart
This study quantifies one important part of the economic return to public investment in college education, namely, the fiscal benefits associated with greater college attainment. College graduates generally pay much more in taxes than those not going to college. Government expenditures are also

Assessing the Effects of Fiscal Shocks

by Craig Burnside, Martin Eichenbaum, Jonas D. M. Fisher , 2002
"... This paper investigates the response of hours worked and real wages to fiscal policy shocks in the U.S. during the post World War II era. We identify these shocks with exogenous changes in military purchases and argue that they lead to (i) a persistent increase in government purchases and tax rates ..."
Abstract - Cited by 12 (1 self) - Add to MetaCart
This paper investigates the response of hours worked and real wages to fiscal policy shocks in the U.S. during the post World War II era. We identify these shocks with exogenous changes in military purchases and argue that they lead to (i) a persistent increase in government purchases and tax rates

Fiscal Discoveries, Stops and Defaults

by Luis Catão, Ana Fostel, Romain Ranciere , 2012
"... Debt crises are often preceded by sharp decouplings in cross-country bond yields after prolonged periods of convergence. We model such decouplings as shifts from pooling to separating equilibria that are triggered by a large tax revenue shock. As investors lack full information on both the extent of ..."
Abstract - Add to MetaCart
of the shock and governments ’ capacity to adjust spending, they revise priors on the fiscal outlook by observing differences in resort to borrowing: when only a sub-set of countries intensifies post-shock market tapping, this signals to investors tangible discrepancies in the mean and variance of fiscal

Optimal Fiscal and Monetary Policy When Money is Essential ∗

by S. Bora˘gan Aruoba, Sanjay K. Chugh , 2006
"... We study optimal fiscal and monetary policy in an environment where explicit frictions give rise to valued money, making money essential in the sense that it expands the set of feasible trades. Our main results are in stark contrast to the prescriptions of earlier flexible-price Ramsey models. Two e ..."
Abstract - Cited by 16 (3 self) - Add to MetaCart
We study optimal fiscal and monetary policy in an environment where explicit frictions give rise to valued money, making money essential in the sense that it expands the set of feasible trades. Our main results are in stark contrast to the prescriptions of earlier flexible-price Ramsey models. Two

Optimal Fiscal and Monetary Policy When Money is Essential

by Sanjay K. Chugh - International Finance Discussion Paper no. 880 , Board of Governors of the Federal Reserve System , 2006
"... We study optimal fiscal and monetary policy in an environment where explicit frictions give rise to valued money, making money essential in the sense that it expands the set of feasible trades. Our main results are in stark contrast to the prescriptions of earlier flexible-price Ramsey models. The t ..."
Abstract - Cited by 7 (2 self) - Add to MetaCart
We study optimal fiscal and monetary policy in an environment where explicit frictions give rise to valued money, making money essential in the sense that it expands the set of feasible trades. Our main results are in stark contrast to the prescriptions of earlier flexible-price Ramsey models

The Optimal Petroleum Fiscal Regime for Ghana: An Analysis of Available Alternatives

by Dankwa Kankam, Ishmael Ackah
"... ABSTRACT: Ghana became an oil producing country in December 2010. This development renewed the expectation of the citizenry as to the revenue that will accrue to the state and its direct effect on standard of living. The purpose of this study was to evaluate the Ghanaian upstream petroleum fiscal re ..."
Abstract - Add to MetaCart
was used in the quantitative assessment of the regimes. Out of the seven regimes used in the quantitative analysis, the Ghanaian regime ranks sixth in terms of government take. It also ranks second with 31 months investor payback period based on post-tax discounted cash flow. Though the Ghanaian fiscal
Results 1 - 10 of 104