Suchergebnisse

State government central administration's control over the project selection process; effects of key constraints on capital budget preparation.

"GAO/PAD-83-1." ; "B-201050"--P. [1] ; Distributed to depository libraries in microfiche. ; "September 22, 1983." ; Cover title. ; Includes bibliographical references. ; Mode of access: Internet.

"This book addresses the topic of capital management and budgeting in the public sector, with a focus on capital management and budgeting processes. It focuses on how capital management and budgeting processes support effective investment in public infrastructure, particularly as viewed through a normative framework."

We revisit the canonical policy of eliminating capital taxation by increasing labor taxation in a endogenous-labor, heterogeneous-agent model with income and wealth heterogeneity, when the government is subject to a strict (per-period) balancedbudget constraint. By contrast with its non-budget neutral equivalent-associated with a constant tax rate over time and a permanent increase in the level of public debt-we show that the obtained endogenous path for the labor tax rate is sharply increasing in the initial period and decreasing over time. The policy then generates a deeper recession in the short-run and a greater expansion in the long-run, as well as a smaller decline in wealth inequality associated with a reduced incentive to save for precautionary motives. Overall, the policy still generates significant losses in average welfare.

Budget annexe 2. - ca. 1982. - 25 S. : Tab. - 32833S.; Annexe III : a la loi contenant le budget de l'Etat pour 1981. - ca. 1982. - 29 S. : Tab. - 32832S