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Tax-Spend or Fiscal Illusion? Allowing for Asymmetric Revenue Effects in Expenditure Error-Correction Models
Young, Andrew T. - 2008
The existing empirical literature on the US federal revenue-expenditure nexus has had mixed findings. Amongst those papers presenting evidence in favor of causation running from taxes to expenditures, support for the conventional, Friedman-type tax-spend hypothesis is nearly ubiquitous. Evidence...
Persistent link: https://www.econbiz.de/10012724482
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Fiscal consolidations and electoral outcomes in emerging economies : does the policy mix matter? : macro and micro level evidence from Latin America
Ardanaz, Martín; Hallerberg, Mark; Scartascini, Carlos G. - 2019
Do voters punish governments that introduce fiscal "austerity" measures? If so, does voter response vary according to the design (composition) of fiscal adjustments? What determines the timing of fiscal consolidations? The empirical literature on the political economy of fiscal adjustments,...
Persistent link: https://www.econbiz.de/10012052149
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Fiscal sustainability in the presence of structural breaks : does overconfidence on resource exports hurt government's ability to finance debt? ; evidence from Nigeria
Alhaji Jibrilla, Aliyu - In: Cogent economics & finance 4 (2016) 1, pp. 1-27
breaks, the study finds evidence of a cointegration relation between the government revenues and spending. The results did … difficulties in financing its debts in the long run. Lastly, the short run and long run Granger causality results, while providing …
Persistent link: https://www.econbiz.de/10011487675
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Comportamiento presupuestario y crecimiento económico en los países de la Unión Europea, 1984-2003
Miranda, María Jesús Vara - In: EKONOMIAZ 68 (2008) 02, pp. 370-403
This paper starts off explaining the arguments put forward to defend the need to reduce the State’s budgetary activity and minimize fiscal deficit in accordance with the institutionalized consensus reached under the Maastricht Treaty and the Stability and Growth Pact. Secondly, it sheds light...
Persistent link: https://www.econbiz.de/10010751611
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Constraints and demands on public finances: Considerations of resilient fiscal policy
Rawdanowicz, Łukasz - 2021
Over the past several decades, public debt has increased substantially in many OECD countries, particularly in the aftermath of recessions. The extent of this increase and the resulting debt levels varied across countries, partly reflecting differences in average budget balances. Despite rising...
Persistent link: https://www.econbiz.de/10012801149
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Public expenditure and revenue in Italy, 1862-1993
Magazzino, Cosimo - Volkswirtschaftliche Fakultät, … - 2010
to 1993, using cointegration techniques and the direction of causality relationship in the long and short runs between … the variables through integrating the Error Correction Model (ECM) into the traditional Granger causality test. A Granger … non-causality test (due to Toda and Yamamoto) is also performed. Unit root tests have been applied in order to investigate …
Persistent link: https://www.econbiz.de/10008765920
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Desperate times call for desperate measures : government spending multipliers in hard times
Lee, Sokbae; Liao, Yuan; Seo, Myung Hwan; Shin, Youngki - 2020
We investigate state-dependent effects of fiscal multipliers and allow for endogenous sample splitting to determine whether the US economy is in a slack state. When the endogenized slack state is estimated as the period of the unemployment rate higher than about 12 percent, the estimated...
Persistent link: https://www.econbiz.de/10012237148
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Desperate times call for desperate measures: Government spending multipliers in hard times
Lee, Sokbae; Liao, Yuan; Seo, Myung Hwan; Shin, Youngki - 2020
We investigate state-dependent effects of fiscal multipliers and allow for endogenous sample splitting to determine whether the US economy is in a slack state. When the endogenized slack state is estimated as the period of the unemployment rate higher than about 12 percent, the estimated...
Persistent link: https://www.econbiz.de/10012621106
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Effects of Fiscal Policy in a Small Open Economy: Evidence of Croatia
Deskar-Škrbić, Milan; Šimović, Hrvoje; Ćorić, Tomislav - Ekonomski Fakultet, Sveučilište u Zagrebu - 2013
In this paper we use structural VAR model to analyze dynamic effects of fiscal shocks on economic activity in Croatia from 2000Q1-2012Q2. Due to the fact that Croatia is a small open economy we assume that shocks of foreign origination can have notable effects on its performance. Therefore,...
Persistent link: https://www.econbiz.de/10011006969
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Measuring the effects of fiscal policy
Bouakez, Hafedh; Chihi, Foued; Normandin, Michel - In: Journal of Economic Dynamics and Control 47 (2014) C, pp. 123-151
Measuring the effects of discretionary fiscal policy is both difficult and controversial, as some explicit or implicit identifying assumptions need to be made to isolate exogenous and unanticipated changes in taxes and government spending. Studies based on structural vector autoregressions...
Persistent link: https://www.econbiz.de/10011051893