Suchergebnisse

En este trabajo se explora el modelo peruano de asignación de recursos ordinarios. - otorgados a los gobiernos regionales como transferencias fiscales discrecionales. - del gobierno nacional. Se estimó un modelo empírico basado en un panel de. - datos anuales correspondientes al período 2004-2010. Si bien las transferencias. - nacionales están considerablemente sesgadas hacia las regiones que prestaron. - menor apoyo al gobierno nacional en las elecciones, los datos presentados sugieren. - que este efecto es más significativo en el comienzo del mandato gubernamental.. - Sin embargo, a largo plazo, las regiones opositoras parecen concentrar a electores. - más volátiles, lo que es compatible con la hipótesis del "votante bisagra". Resulta. - interesante que las regiones que apoyaron fervientemente al presidente reciban muy. - pocos beneficios. Por último, los conflictos regionales, el efecto de los cabildeos de. - grupos civiles organizados a nivel regional y el tamaño del distrito electoral, entre. - otras variables, son factores estadísticamente significativos en las estimaciones. (Rev CEPAL/GIGA)

Lea Immel prepared this study while she was working at the Research Group Taxation and Fiscal Policy at the ifo Institute. The study was completed in September 2020 and accepted as doctoral thesis by the Department of Economics at the University of Munich. It consists of four distinct empirical essays investigating the causes and consequences of regional di erences in the distribution of income and wages using county-level data from Germany. Chapter 2 analyzes the impact of the so-called Hartz reforms on income inequality in German regions. Chapter 3 investigates the long-term effect of university openings on the wage distribution in the surrounding area. Chapters 4 and 5 turn to the political consequences of regional income dispersion and examine the effect of relative economic deprivation on the support for radical right- and left-wing parties as well as on local fiscal policy. The chapters employ difference-in-differences, event study, and instrumental variable estimations to answer the respective research questions.

As the United States seeks to compete in the increasingly connected global economy, efforts have been made to improve both internal educational outcomes such as test scores and graduation rates, as well as relative educational outcomes such as the ranking of the United States' test scores on international assessments. Finding the correct strategies to improve education nationally is difficult, since education takes place in a very personal context that differs from state to state, district to district, school to school, classroom to classroom, and student to student. However, because of the importance of increasing educational outcomes, the nation has looked to find ways to improve the entire system nationally through creating standards based legislation like No Child Left Behind or competitive incentives like in Race to the Top. If there are proven educational policies that can be applied nationally that can improve the entire nation's educational performance, then those policies would be important to include as a supplement to current plans or as a part of future ones. A highly analyzed input variable is funding. The debate over the relationship between funding and improved outcomes has lasted for fifty years, eventually leading to the answer that funding matters, sometimes. However, using fiscal effort rather than dollars spent may lead to finding a correlation between dollars and educational improvements. It may be that having a good deal of money may lead a district to spend less carefully and increase waste. It may also be that spending a higher percentage of a community's taxes on education may indicate a greater interest in education. While the goal of education is not simply to create new economic pawns within a greater system, it is understood that within the United States, capitalistic achievement is considered to be a gateway to greater life opportunities. Creating students that are more employable, more skilled, and therefore increase the economic base of the nation is certainly a goal that is achievable through better education. This dissertation seeks to ascertain if there is a correlation between fiscal effort and increased personal income. The dissertation analyzed data from several sample states over an extended period of time to determine if increasing fiscal effort has led to greater personal income.

European social policy changed with the evolution of European and global capitalism, the scope and shape of European-level international institutions, the size and heterogeneity of "Europe" as a polity, and the politics of the European national welfare state. The paper outlines the long-term trajectory of European social policy, from the intended absorption of national welfare states into one united, federal welfare state to a selective updating of national social policies by European social policies; to multi-level coordination of national systems by special European institutions; to European soft law helping national "modernization" on the "Third Way"; to exposure of national systems to international economic competition as an incentive for "structural reform"; and to subordination of social policy, national and European, to the defense of a common hard currency through fiscal consolidation - from, in other words, federal social democracy to competitive "adjustment" of national social protection and social life to global markets.

Introduction : a bird's-eye view of environmental taxation / Janet E. Milne -- The curious origins of the major U.S. tax incentives for oil and gas producers / George K. Yin -- Problems, policies, and politics of taxing energy in the U.S. / Michael Graetz -- The tax treatment of coal / Roberta F. Mann -- The Japanese carbon tax and the challenges to low-carbon policy cooperation in East Asia / Takeshi Kawakatsu, Sven Rudolph, and Soo-choel Lee -- Tax and the environment : Australia style / Natalie P. Stoianoff -- Environmental taxation in Canada / Deborah L. Jarvie -- The introduction of carbon taxes in Europe / Mikael Skou Andersen -- Environmental taxation in Latin America / Rodolfo Salassa Boix -- Taxing carbon dioxide emissions : key issues / Terry Dinan -- Tax incentives for conservation easement donations : learning from the U.S. experience / Nancy McLaughlin -- The World Trade Organization and renewable energy / Tracey M. Roberts

This study aims at concluding the general debt impact on economic growth for two different groups of countries during the period (1993-2013). Results showed negative impact of public debt on economic growth on short and long terms. Impact percentage differs according to countries and interpretive variables that interpret the relationship. Negative impact of debt starts from levels between 60-90% of gross domestic product on long term; its impact becomes bigger on long and short terms when percentage is higher than 90% of gross domestic product, whereas raise of public debt by 10% leads into decreasing economic growth by 1-2% in average. Results showed that the variables which affect the economic growth the most are savings/ investment, population growth, long and short terms of nominal interest rate, current account balance, private credit, inflation, Government budget primary balance, and debt service. Study results also revealed that banking crisis and double crisis are the most negatively reflecting crisis on the economic growth. ; peer-reviewed

This book review reexamines Henry Simons famous contribution to the tax policy literature, "Personal Income Taxation: The Definition of Income as Problem in Fiscal Policy" (1938). It argues that while Professor Simons was concerned with tax fairness and the redistribution of income, he adopted a definition of income that worked to undermine the interests of many of the poor individuals in society that he sought to support.

This essay analyzes the extent to which the Colombian centralization process, from 1886 to 1930, fulfilled Max Weber's criteria for successful State building: legitimate monopoly of force, territorial consolidation, and construction of a rational bureaucratic order. In the first part of the period, there were several civil wars, and religious and political strife that only ceased after the Thousand Days War (1899-1902). The economy stagnated and had few links with the global market. Between 1905 and 1930 more tolerant governments were committed to the country's economic development and it accelerated. However, the balance is poor: the monopoly of force was late and incomplete, the State remained weak due to low taxation and the oligarchic political order continued. Bureaucratic development was incomplete, although it extended into areas of economic policy driven by the central Government. The cities prospered and became poles of power with which the political center had to negotiate. ; Este ensayo analiza en qué medida el proceso de centralización colombiano de 1886 a 1930 cumplió los criterios de Max Weber para la construcción de Estado: el monopolio legítimo de la fuerza, la consolidación territorial y la construcción de un orden burocrático racional. En la primera parte del periodo hubo varias guerras civiles y una pugnacidad religiosa y política que solo cesó después de la Guerra de los Mil Días; la economía se estancó y tuvo pocos vínculos con el mercado global. Entre 1905 y 1930 unos gobiernos más tolerantes se empeñaron en el desarrollo económico del país y este se aceleró. No obstante, el balance es pobre: el monopolio de la fuerza fue tardío y muy incompleto, el Estado se mantuvo endeble por la baja tributación y continuó el orden político oligárquico. El desarrollo burocrático fue incompleto, aunque se extendió en las áreas de política económica del gobierno central. Las ciudades prosperaron y se volvieron polos de poder con los que el centro político tuvo que negociar. ; Este ensaio analisa até que ...

Cover -- CONTENTS -- Glossary -- EXECUTIVE SUMMARY -- DETERMINANTS OF EURO AREA BANK PROFITABILITY -- A. Introduction -- B. Conceptual and Empirical Framework -- C. Data, Key Trends, and Stylized Facts -- D. Econometric Analysis -- E. Conditional Profitability Distributions -- F. Weakest Bank Profits in 2016-An Illustrative Exercise -- G. Conclusions and Policy Implications -- References -- BALANCE SHEET-BASED INTERCONNECTEDNESS AND CONTAGION RISK ANALYSIS -- A. Bank-Level Analysis of Interbank Exposures and Contagion Risk -- B. Country-Level Analysis of Cross-Border Linkages and Contagion Risk -- C. Caveats -- D. Summary and Policy Implications -- References -- APPENDICES -- I. Euro Area: Stress Test Matrix (STeM) for the Banking Sector: Contagion Risks -- II. Methodology, Data, and Implementation -- MARKET-BASED INTERCONNECTEDNESS ANALYSIS -- A. Introduction -- B. General Framework: An Overview -- C. Data and Stylized Facts -- D. Pooled OLS Versus Quantile Regressions -- E. Conditional Spillover Distributions -- F. Conclusions and Policy Implications -- References -- APPENDICES -- I. Market and Balance Sheet Indicators -- II. Sample Description -- III. Pooled Estimation Strategy -- CONTINGENT CLAIMS ANALYSIS -- APPENDICES -- I. An Overview of the Structure of the CCA-MCS-GVAR Model -- II. List of Banks, Insurers, and Countries -- DATA GAPS IN THE NONBANK, NON-INSURANCE FINANCIAL SECTOR -- FIGURES -- 1. Euro Area Banks (Significant Institutions): Key Trends and Stylized Facts -- 2. Illustrative Conditional Profitability (ROE) Distributions -- 3. Illustrative Exercise: Bank Profitability, Growth, and NPLs -- 4. Banks' Cross-Border Exposures, June 2017 -- 5. Network Graphs, June 2017 -- 6. Intra-EA Interconnectedness Analysis, June 2017 -- 7. Cross-border Contagion Analysis, June 2017 -- 8. Bank Distress Sensitivity to Model Assumptions.

Since the Great Depression of the 1930s, and through the more recent Asian Crisis of 1997 and Great Recession of 2008/09, governments have experimented with Keynesian style fiscal stimulus to support employment and accelerate economic recovery. The effectiveness of these policies depends on the size of fiscal multipliers. A large body of economic literature has estimated such multipliers, with gradually increasing precision, due to econometric improvements and better ways to identify fiscal impulses. Overall, the largest multipliers are found to be associated with public investment, as opposed to other types of spending. Such public investment multipliers are typically below one in the short run, but studies with multi-year horizons suggest that values higher than unity can be attained over time. The size of multipliers is sensitive to economic conditions. During recessions, and periods of high unemployment, transfer payments appear sometimes to offer higher multipliers than public investment. An important exception is when fiscal and monetary policies are closely coordinated and interest rates approach zero, conditions that provide the strongest evidence for the efficacy of public investment multipliers. Other institutional factors also play a crucial role in determining the size of the public investment multiplier, in particular the country's absorptive capacity, and the selection of high-quality shovel ready projects. However, there is limited empirical evidence available on the magnitude of fiscal multipliers in developing country settings, or for infrastructure sectors or subsectors specifically. The few studies available suggest that certain types of green infrastructure (energy efficiency, solar energy, and so forth) may bring employment benefits in the short run, while innovative digital infrastructure may yield longer-run benefits for economic growth. The relevance of these findings to the current COVID-19 crisis is explored.

In his letter to US President Franklin D. Roosevelt Keynes (1933) wrote about "the technique of recovery itself". An increase in output is brought about by an increase in purchasing power, Keynes argues, which can come from three sectors: households, firms and government. Using the IS/MY macroeconomic model developed by Ehnts (2014), which features sectoral balances and endogenous money, the situation of some euro zone members is examined with a focus on the three techniques of recovery: increases in debt of the respective sectors as defined by Keynes. A fourth technique, an increase in spending by the rest of the world, is added. The conclusion is that the policy recommendation given by Keynes in his letter also holds for the euro zone at present: a rise in debt-financed government expenditure. Some reform at the institutional level in Europe would enable "the technique of recovery" to work via the TARGET2 payment system, which is organized along Keynes' International Clearing Union proposal and a solid foundation to build on.