Sticking to fiscal plans: the role of institutions
In: Public choice, Band 144, Heft 3-4, S. 487-503
ISSN: 1573-7101
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In: Public choice, Band 144, Heft 3-4, S. 487-503
ISSN: 1573-7101
In: Publius: the journal of federalism, Band 42, Heft 2
ISSN: 1747-7107
We provide estimates of the risk-sharing and redistributive properties of the German federal fiscal system based on data from 1970 to 2006, with special attention to the effects of German unification. Tax revenue sharing between the states and the federal government and the fiscal equalization mechanism (Landerfinanzausgleich) together reduce differences in per-capita state incomes by almost 40 percent. The federal fiscal system offsets 47 percent of an asymmetric shock to state per-capita incomes. This effect has significantly decreased after the inclusion of the East German states in 1995. Furthermore, we find that the German fiscal system provides almost perfect insurance for state government budgets against asymmetric revenue shocks; also, its redistributive effect with regard to the tax resources available to state governments is very strong. Adapted from the source document.
In: European journal of political economy, Band 17, Heft 3, S. 641-664
ISSN: 0176-2680
The Konstanz Seminar was founded by the late Karl Brunner in 1970 & celebrated its 30th anniversary in 1999. Brunner initiated the Seminar with two objectives: to close the gap in the quality of research & teaching of economics between the US & Europe, Germany & Switzerland in particular; & to provide an alternative to the dominant Keynesian paradigm to European monetary policymakers. Thirty years ago, the Konstanz Seminar was at the fringe of the economics profession; today, it is part of the mainstream. This paper reviews the academic & policy accomplishments of the Konstanz Seminar. 4 Tables, 1 Appendix, 38 References. Adapted from the source document.
In: NBER-Conference Report
In: Conference report (National Bureau of Economic Research)
In: National Bureau of Economic Research conference report
The unprecedented rise and persistence of large-scale budget deficits in many developed and developing nations during the past three decades has caused great concern. The widespread presence of such deficits has proved difficult to explain. Their emergence in otherwise diverse nations defies particularistic explanations aimed at internal economic developments within a specific country. Fiscal Institutions and Fiscal Performance shifts emphasis away from narrow economic factors to more broadly defined political and institutional factors that affect government policy and national debt. This coll
In: Revue économique, Band 54, Heft 3, S. 477
ISSN: 1950-6694
In: Public choice, Band 109, Heft 3-4, S. 327-346
ISSN: 0048-5829
Recent research has demonstrated the importance of good quality of fiscal adjustments for the success of government budget consolidations. We extend this approach to analyze the importance of the economic conditions in which fiscal consolidations are started for their success. The cyclical positions of the domestic & international economy, the initial debt level, & the stance of fiscal policy in the OECD are all important determinants of the likelihood of fiscal consolidations. They also affect the government's choice of consolidation strategy, making them important determinants of the success of fiscal consolidations. In contrast, the monetary policy stance plays only a negligible role for fiscal consolidations. The authors use the analysis to test for any Maastricht effects on the performance of European governments during the 1990s. Such effects are weak at best & occurred only during the first half of the decade. 9 Tables, 13 References. Adapted from the source document.
In: European journal of political economy, Band 23, Heft 2, S. 338-359
ISSN: 1873-5703
In: Economic policy, Band 9, Heft 18, S. 147
ISSN: 1468-0327
In: Public choice, Band 73, Heft 1, S. 21
ISSN: 0048-5829
In: Economic policy, Band 9, Heft 19, S. 353
ISSN: 1468-0327
In: Economic policy, Band 8, Heft 17, S. 219
ISSN: 1468-0327