Suchergebnisse

The focus of this volume is on the European context of public budget policy and a variety of different approaches are used - theoretical modelling, econometrics and applied general equilibrium modelling. Empirical evidence and case studies of European countries are contained in all the papers. The papers cover the four general themes of public budget policy: * economic stabilization, in view of the Economic and Monetary Union in the European Community * reinforcing structural change, involved in market liberalization and harmonization of economic structures * its distributional effects and implications for social equity * endogenous economic growth.

Chapter Part I Theoretical aspects PUBLIC EXPENDITURES, TAXES, DEBT AND ENDOGENOUS GROWTH /Patrick Artus --part STRUCTURAL ADJUSTMENT AND PUBLIC DEFICIT: A CGE MODELLING ANALYSIS FOR GREECE Pantélis Capros and Pavlos Karadeloglou --chapter 1 PUBLIC DEFICITS AND INCOME DISTRIBUTION: RESULTS OF AN ECONOMETRIC BUSINESS CYCLE MODEL FOR THE FEDERAL REPUBLIC OF GERMANY --chapter 2 ENDOGENOUS GROWTH AND BUDGETARY POLICY IN THE OPEN ECONOMY --part PART II PUBLIC DEFICITS AND STABILIZATION --chapter 3 PROPOSALS FOR COMMUNITY STABILIZATION MECHANISMS --chapter 4 SOME STOCHASTIC IMPLICATIONS OF THE GOVERNMENT'S BUDGET CONSTRAINT --chapter 5 CREDIT CONSTRAINTS AND THE EFFICIENCY OF BUDGETARY POLICY --chapter 6 STRUCTURAL ADJUSTMENT AND PUBLIC DEFICIT --chapter 7 PUBLIC DEFICITS AND INCOME DISTRIBUTION --part PART III STRUCTURE OF PUBLIC EXPENDITURES AND IMPLICATIONS --chapter 8 PUBLIC SPENDING IN FEDERAL STATES --chapter 9 CAUSALITY BETWEEN PUBLIC EXPENDITURE AND TAXATION --chapter 10 ON THE EFFICACY, EFFICIENCY AND EQUITY OF STATE SUPPORT IN BRITAIN.

We consider a dynamic general equilibrium model with collective wage bargaining and investigate how unemployment dynamics are affected by two types of budgetary policies. In line with traditional reasoning, a balanced-budget rule amplifies fluctuations in the short run, whereas an unbalanced-budget policy dampens them. However, the latter policy strengthens unemployment persistence by its adverse impact on growth, and may even destabilize the adjustment path. If this is the case, a future fiscal consolidation is needed which further raises unemployment. These results are consistent with empirical evidence on a positive cross-country relationship between government borrowing and unemployment persistence.

We consider a dynamic general equilibrium model with collective wage bargaining and investigate how unemployment dynamics are affected by two types of budgetary policies. In line with traditional reasoning, a balanced-budget rule amplifies fluctuations in the short run, whereas an unbalanced-budget policy dampens them. However, the latter policy strengthens unemployment persistence by its adverse impact on growth, and may even destabilize the adjustment path. If this is the case, a future fiscal consolidation is needed which further raises unemployment. These results are consistent with empirical evidence on a positive cross-country relationship between government borrowing and unemployment persistence. ; Wir betrachten ein dynamisches allgemeines Gleichgewichtsmodell mit kollektiven Lohnverhandlungen am Arbeitsmarkt und untersuchen die Entwicklung von Arbeitslosigkeit in Abhängigkeit von zwei verschiedenen staatlichen Budgetpolitiken. In Übereinstimmung mit der traditionellen Literatur werden Schwankungen in der Arbeitslosigkeit kurzfristig durch eine ausgeglichene Budgetpolitik verstärkt, während sie durch eine unausgeglichene Budgetpolitik abgeschwächt werden. Eine Politik unausgeglichener Budgets erhöht jedoch über die Zeit die Persistenz der Arbeitslosigkeit durch adverse Wachstumseffekte und führt eventuell zu instabilen Anpassungsprozessen. In diesem Fall müssen zu einem späteren Zeitpunkt fiskalische Konsolidierungsmaßnahmen ergriffen werden, die wiederum die Arbeitslosigkeit erhöhen. Diese Modellergebnisse stehen in Einklang mit empirischen Ergebnissen, die auf einen positiven Zusammenhang zwischen der Höhe öffentlicher Budgetdefizite und der Persistenz von Arbeitslosigkeit im Ländervergleich hindeuten.

Explores the future role of the Croatian government in running the national economy. Also, the role of government budgetary policy in achieving that task will be investigated to answer a fundamental question: Do the trends in Croatian public consumption differ from those in developed countries? To answer this question, the paper is divided into four chapters. The first deals with the analysis of public money politics by contrasting two opposite approaches, incremental & "unrestrained swelling." The second chapter is devoted to the structure of public consumption in Croatia. The following chapter looks into government expenditures in Croatia compared with public consumption trends in developed countries. The last chapter of the article deals with the role that Croatian political parties play in the budgetary process. 5 Tables, 10 References. Adapted from the source document.

The meaning of 'supply side' economis has been the cause of some confusion. Martin Ricketts, of the University of Buckingham, reveals that supply‐side measures encompass institutional reform as well as cuts in taxation. The Government's policy of privatisation is creating alienable property rights which will improve economic efficiency and reduce the discretionary power of the state.