Search results for "Fiscal"
showing 10 items of 448 documents
Fiscal policy discretion, private spending and crises episodes
2011
In this paper, we assess the impact of fiscal policy discretion on economic activity in the short and medium-term. Using a panel of 132 countries from 1960 to 2008, we find that fiscal policy discretion provides a net stimulus to the economy in the short-run and crowding-in effects are amplified once crisis episodes are controlled for– in particular, banking crises - giving a great scope for fiscal policy stimulus packages. However, crowding-out effects take over in the long-run – especially, in the case of debt crises -, in line with the concerns about long-term debt sustainability.
Fiscal Policy and Asset Price Cycles: Evidence from Four European Countries
2014
OS; International audience; We test for non-linear effects of asset prices on the fiscal policy of four major European economies (France, Italy, Spain and UK). We model government spending and revenue as time-varying transition probability Markovian processes (TVPMS), and find that: (i) in France and Italy, the impact of housing prices on government revenue is conditioned by the phase of the stock price cycle; (ii) a similar asymmetric pattern is found for the UK when considering the effect of stock price fluctuations on government revenue and spending vis-à-vis the troughs and peaks of aggregate wealth; and (iii) for Spain, a fall in government revenue is typically associated with a negati…
Intervento
2009
Fiscal Adjustments and Business Cycle Synchronization
2013
Using a panel of annual data for 20 countries we show that synchronized fiscal consolidation (stimulus) programmes in different countries make their business cycles more closely linked, especially in the case of fiscal adjustments lasting 2 or 3 years. We also find: (i) little evidence of decoupling when an inflation targeting regime is unilaterally adopted; (ii) an increase in business cycle synchronization when countries fix their exchange rates and become members of a monetary union; (iii) a positive effect of bilateral trade on the synchronization of business cycles
Harvard meets the crisis: U.S. fiscal policy in the 1930s and the political economy of Lauchlin B. Currie, Jacob Viner, John H. Williams and Harry D.…
2010
The paper aims to describe the contribution of four Harvard economists to the interpretation of the Great Depression and the policy decision making from 1933 to 1938. Lauchlin B. Currie, Jacob Viner, John H. Williams, Harry D. White, eminent scholars in the field of monetary and international economics, were deeply involved in policy decisions during the New Deal. In our synoptic analysis we will benefit from extensive scholarly work that has been provided in the last few years. We shall examine the extensive biographical connection between Currie, Viner, White and Williams with special regard to their common training at Harvard. Then we shall compare their interpretations of the causes of …
Il F.S.N. della Regione Siciliana ex art. 38 Statuto per la perequazione infrastrutturale - Una ricerca empirica sulle sue potenzialità inattuate
2016
The aim of the paper is to depict the development over time of F.S.N. as item of the financial statements of Sicily that crystallizes the duty of the Italian State to fill in the infrastructural gap that Sicily has historically experienced respect to the rest of the country. This item might be seen as a provisional State subsidy since theoretically the gap should have been closed at the end and at the same time the Sicilian Region would have ended up with be more able to provide for itself. Hence, the paper aims at assessing to what extent the article no. 38 of the Statute of Sicily - as rule that has made this capital grant formally established - has been applied, by comparing how much it …
Un approfondimento tecnico-giuridico sull’inserimento dei Certificati di Credito Fiscale nel sistema economico italiano
2015
The chapter develops, within a text devoted to the fiscal money, mainly under an economical point of view, an alternative point of view: the juridical one. The main problem dealed with is the legal feasibility of issuing Certified for Tax Credits. This study is conducted both under a private law approach and under a public law one. At the end, a properly accounting point of view is developped, under the provisions of generally agreed accounting standards and European Regulations on public sector accounts.
Se le tasse si abbassano arriveranno gli investimenti dall'esterno dell'area
2011
L'articolo affronta la tematica della fiscalità di vantaggio e la possibilità dell'Ente Regione Siciliana di saperne trarre vantaggio creando valore per la collettività operando secondo economicità
Fiscalità ecologica ed ecoincentivi
2009
Il contesto socio economico di riferimento: Sicilia ed Irlanda: quali le differenze?
2013
Da anni il Mezzogiorno appare come un territorio incapace di attrarre investimenti esteri in maniera consistente e continuativa, ciò soprattutto a causa della debolezza delle infrastrutture, ma anche per la presenza di industrie con una capacità di esportazione, che seppure in crescita negli ultimi anni risulta ancora limitata, in numero ancora insufficiente rispetto alle possibilità complessive e prevalentemente concentrate in settori tradizionali assai più esposti alla competizione di prezzo dei nuovi paesi concorrenti.