Search results for "Fiscal"
showing 10 items of 448 documents
The Impact of Government Spending on the Private Sector: Crowding-Out versus Crowding-In Effects
2009
The aim of this paper is to analyze the impact of government spending on the private sector, assessing the existence of crowding-out versus crowding-in effects. Using a panel of 145 countries from 1960 to 2007, the results suggest that government spending produces important crowding-out effects, by negatively affecting both private consumption and investment. Moreover, while the effects do not seem to depend on the different phases of economic cycle, they vary considerably among regions. The results are economically and statistically significant, and robust to several econometric techniques.
Instruments, rules, and household debt: the effects of fiscal policy
2015
In this paper, we look at the interplay between the level of household leverage in the economy and fiscal policy, the latter characterised by different combinations of instruments and rules. When the fiscal rule is defined on lump-sum transfers, government spending or consumption taxes, the impact multipliers of transitory fiscal shocks become substantially amplified in an environment of easy access to credit by impatient consumers, regardless of the primary instruments used. However, when the government reacts to debt deviations by raising distortionary taxes on income, labour or capital, the effects of household debt on the size of the impact output multipliers vanish or even reverse, no …
Assessing Long-Term Fiscal Developments: A New Approach
2009
We use a new approach to assess long-term fiscal developments. By analyzing the time-varying behaviour of the two components of government spending and revenue - responsiveness and persistence - we are able to infer about the sources of fiscal behaviour. Drawing on quarterly data we estimate recursively these components within a system of government revenue and spending equations using a Three-Stage Least Square method. In this way we track fiscal developments, i.e. possible fiscal deteriorations and/or improvements for eight European Union countries plus the US. Results suggest that positions have not significantly changed for Finland, France, Germany, Spain, the United Kingdom and the US,…
HARVARD MEETS THE CRISIS: THE MONETARY THEORY AND POLICY OF LAUCHLIN B. CURRIE, JACOB VINER, JOHN H. WILLIAMS, AND HARRY D. WHITE
2015
The paper discusses the interpretation of the Great Depression and the policy decision making by four Harvard economists: Lauchlin B. Currie, Jacob Viner, John H. Williams, and Harry D. White. All were eminent scholars in the field of monetary and international economics, and were deeply involved in policy decisions during the New Deal. We will discuss how their Harvard training provided them with a common methodological and analytical perspective, and how this common perspective translated into specific policies when they moved from the academia to public service in the US administration. Their interpretation of the causes of the Great Depression and their policy proposals show the eclecti…
Determinación y definición de cuentas de las Cortes de 1329 en 1332: antecedentes de la Generalidad valenciana. La fiscalidad territorial y las impos…
2004
The year 1329 can be considered the starting point in the establishment of the <i>Generalitat Valenciana</i>. It is in this year when the first steps are taken toward the creation of a taxation system, starting with the regulation of local taxes.<br><br>A partir de 1329, se pueden establecer los pasos encaminados a determinar el origen de la Generalitat Valenciana, debido a que se darán las primeras pautes del procedimiento de implantación del sistema fiscal de dicho territorio a partir de la normativa de las imposiciones locales.
La financiación de las empresas mediterráneas de Alfonso el Magnánimo. Bailía General, Subsidios de Cortes y Crédito Institucional en Valencia (1419-…
2003
This article studies the role of the General Bailía of Valencia—the office for the management of the royal domain resources of the kingdom of Valencia- in the political and military projects of Alfonso V the Magnanimous in the Mediterranean. In this way its also analysed the role of the Parliament, a class representation of the kingdom, and the city of Valencia, main urban centre The incomes from the royal domain, the donations from the Parliaments as a representative assemblies, and the loans provided by the city of Valencia contributed in a decisive way to the guarantee of the economic viability of Alfonso Vs military expansion. It is right that the main instruments that the king had to a…
Entre la Diputación del General de Cataluña y la Cámara Apostólica: la trayectoria del colector Bernat Vallès (1365-1389)
2021
Bernat Vallès fue un miembro de la clerecía barcelonesa de la segunda mitad del siglo XIV y uno de los considerados «primeros presidentes» de la Generalitat de Cataluña. Fue nombrado diputado eclesiástico en las Cortes de Tortosa de 1365 y, en ese mismo año, se le documenta ya en relación con la Cámara Apostólica de Aviñón. Centrándonos en su perfil polifacético y empleando documentación del Archivo de la Corona de Aragón y del Archivo Apostólico Vaticano, nos interesa analizar la gestión fiscal y financiera de este personaje en relación con la fiscalidad regia y pontificia. Todo ello, en un periodo significativo para la consolidación de la fiscalidad general en la Corona de Aragón y la fis…
A Tale of Two Re-branded Cities: Riga, Latvia and Aarhus, Denmark
2016
Abstract This study shows how Riga and Arhus identified, formulated and communicated city re-branding. Our analysis concentrates on resident responses to city re-branding and how such responses could force the municipalities to withdraw their re-branding. A city loses its identity if it is globalized. In the Riga and Aarhus cases, the municipalities tried to find a global voice, which contradicted local traditions; and in both cases, the redefinition of city image took place top-down and not bottom-up. The two cases may not prove to be a golden rule, but should be a warning against rash city re-branding decisions made by municipalities.