Search results for "Expenditure"

A trade-off between current and future sex allocation revealed by maternal energy budget in a small mammal.

2011

Sex-allocation theories generally assume differential fitness costs of raising sons and daughters. Yet, experimental confirmation of such costs is scarce and potential mechanisms are rarely addressed. While the most universal measure of physiological costs is energy expenditure, only one study has related the maternal energy budget to experimentally controlled offspring sex. Here, we experimentally test this in the bank vole (Myodes glareolus) by simultaneously manipulating the litter's size and sex ratio immediately after birth. Two weeks after manipulation, when mothers were at the peak of lactation and were pregnant with concurrent litters, we assessed their energy budget. We found that …

Catastrophic health expenditure: A comparative analysis of smoking and non-smoking households in China.

2020

Introduction Smoking is hazardous to health and places a heavy economic burden on individuals and their families. Clearly, smoking in China is prevalent since China is the largest consumer of tobacco in the world. Chinese smoking and nonsmoking households were compared in terms of the incidence and intensity of Catastrophic Health Expenditures (CHEs). The factors associated with catastrophic health expenditures were analyzed. Methods Data for this study were collected from two waves of panel data in 2011 and 2013 from the national China Health and Retirement Longitudinal Study (CHARLS). A total of 8073 households with at least one member aged above 45 were identified each year. Catastrophic…

How to pay for the war in times of imperfect commitment. Adam Smith and David Ricardo on the Sinking Fund

2014

AbstractThe paper proposes a comparative analysis of Smith's and Ricardo's views on the sinking fund. It shows that Smith and Ricardo agreed in stressing the ineffectiveness of the sinking fund as a policy instrument targeted at public debt repayment and tax-burden relief, pointing out that its actual workings had paradoxically helped to increase rather than reduce British total debt-load. Moreover, their explanation of the sinking fund paradox integrates a defective fiscal commitment technology with powerful politicians’ incentives to siphon off the money stored in the sinking fund to meet sudden increases of public expenditure whenever the occasion arose.

A simple model of income, aggregate demand and the process of credit creation by private banks

2013

This paper presents a small macroeconomic model describing the main mechanisms of the process of creation by the private banking system. The model is composed of a core unit-where the dynamics of income, credit and aggregate demand are determined-and a set of sectoral accounts that ensure its stock-flow consistency. In order to grasp the role of credit and banks on the functioning of the economic system we make an explicit distinction between planned and realized variables, thanks to which, while maintaining the ex-post accounting consistency, we are able to introduce an ex-ante wedge between current aggregate income and planned expenditure. Private banks are the only economic agents capabl…

Long-Run Growth and Volatility: Which Source Really Matters

2010

The aim of the article is to analyse the relationship between long-run growth and business cycle volatility. In particular, the main purpose of this article is to identify which source of volatility is most detrimental to growth. Using cross-country data from 1970 to 2000, and several indicators of volatility (such as inflation, exchange rate, government expenditure, output and investment volatility) this article shows that although, all these measures of volatility are remarkably harmful for growth, business cycle investment volatility is the main source that hampers long-run growth. This relation is robust to different measures of business cycle, and to different sub-samples of countries.

Fiscal impact of the migration phenomenon

2019

Fiscal sustainability in the EU: From the short-term risk to the long-term challenge

2015

Abstract The paper analyses fiscal sustainability of public debt using a dynamic computable general equilibrium model. First, we identify the short-term risk for fiscal stress at country level; second, we investigate the assumption of convergence towards the government debt threshold (medium-term challenge); and, third, the requirement that debt projections do not show unsustainable trends (long-term challenge). The empirical implementation includes 18 EU Member States. Our findings show that the constant tax rate that stabilizes the public debt converges to 50 percentage of GDP for all the sample countries and tax revenues are the main driving forces for fiscal sustainability. Also our fin…

The Analysis on the Cyclical Behaviour of Fiscal Policy in the EU Member States

2013

Abstract This paper deals with the topic of cyclicality of fiscal policy. The main purpose of this paper is to determine the cyclical behaviour of fiscal policy in the EU member states, using historical time series for all the European countries during the period between 1995- 2011. The results pointed out that the procyclical fiscal policies are a feature of developing countries and the countercyclical and acyclical fiscal policies are a feature of developed counties.

On distributing quarterly national growth among regions

2008

In many countries a very important fraction of public expenditure is managed by regional authorities. However, in a world where economic life has quickened and become more turbulent, subnational institutions rarely have a timely regional macroeconomic picture at their disposal. The authors propose a guide to a method for estimating quarterly accounts of regions from the national quarterly and annual regional accounts, by the use of a temporal structure which eliminates possible spurious jumps. The robustness of the process and suggested practicalities are tested, and the proposal is also shown to produce better estimates than other uniregional methods often used in this framework.

Resting energy expenditure and body composition in morbidly obese, obese and control subjects

1994

Resting energy expenditure (REE) was investigated by indirect calorimetry in relation to body composition and to different degrees of obesity in order to assess if a defective energy expenditure contributes to extra body fat accumulation. Differences were found between control subjects (group C; BMI 23 +/- 0.5 kg/m2, REE 5890 +/- 218 kJ/day; mean +/- SEM) and obese subjects (group O; BMI 34.2 +/- 0.9 kg/m2, REE 7447 +/- 360 kJ/day; P0.0001) and between group C and morbidly obese subjects (group MO; BMI 49.9 +/- 1.6 kg/m2, REE 8330 +/- 360 kJ/day; P0.0001); REE was not significantly different between groups O and MO. Body composition data were obtained by means of body impedance analysis. Ev…