ERN: Fiscal Policy & Institutional Change in Transition Economics (Topic)最新文献

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Dynamic Model of Fiscal Solvency: Comparative Dynamic Analysis 财政偿付能力的动态模型:比较动态分析
ERN: Fiscal Policy & Institutional Change in Transition Economics (Topic) Pub Date : 2014-10-15 DOI: 10.2139/ssrn.2510543
R. Kruszewski, J. Kudła, K. Walczyk, K. Kopczewska, Agata Kocia
{"title":"Dynamic Model of Fiscal Solvency: Comparative Dynamic Analysis","authors":"R. Kruszewski, J. Kudła, K. Walczyk, K. Kopczewska, Agata Kocia","doi":"10.2139/ssrn.2510543","DOIUrl":"https://doi.org/10.2139/ssrn.2510543","url":null,"abstract":"Tax revenues and the issuance of debt are interdependent because governments are afraid of becoming insolvent. Therefore the long-term tax policy involving: adjustment of capital taxation, taxation of explicit consumption and the issuance of bonds ensures solvency and hampers capital tax competition. Applying long-term dynamic model of capital and consumption taxation, the revenue maximizing government can obtain the equilibrium with reasonable tax rates. The equilibrium solution fulfills simple solvency constraint imposed on bonds issuance and takes into account the possibility of capital income shifting and the limited taxation of consumption. The two tax rates, the levels of capital and consumption are driven by: capital income shifting parameter, explicit consumption and the intertemporal preferences. The interdependences in equilibrium between variables and selected parameters are provided with numerical simulation, as well as the behavior of variables in time after the changes of equilibrium parameters. The solution predicts positive level of bonds in long-term equilibrium and taxation rates positively dependent on the abundance of tax bases. The latter are strongly affected by the value of income shifting parameter and explicit consumption parameter.","PeriodicalId":222083,"journal":{"name":"ERN: Fiscal Policy & Institutional Change in Transition Economics (Topic)","volume":"10 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2014-10-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129959595","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
The Role of the Automatic Stabilizers in Modern Economy 自动稳定器在现代经济中的作用
ERN: Fiscal Policy & Institutional Change in Transition Economics (Topic) Pub Date : 2014-03-31 DOI: 10.2139/ssrn.2433715
Stevan Luković
{"title":"The Role of the Automatic Stabilizers in Modern Economy","authors":"Stevan Luković","doi":"10.2139/ssrn.2433715","DOIUrl":"https://doi.org/10.2139/ssrn.2433715","url":null,"abstract":"Automatic stabilizers as a factor of cyclical fluctuations stabilization attract economists' attention for several decades. This paper deals with the mechanisms through which automatic stabilizers influence economy and positive and negative effects on aggregate demand they can produce. It is common when discussing automatic stabilizers to put the accent on certain tax categories, such as personal income tax and corporate income tax, оr some public expenditures, such as unemployment benefits and social protection. Given that, here only fiscal stabilizers will be discussed, although some nonfiscal categories also demonstrate stabilizing impact.","PeriodicalId":222083,"journal":{"name":"ERN: Fiscal Policy & Institutional Change in Transition Economics (Topic)","volume":"32 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2014-03-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127057065","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 1
Effectiveness of Sovereign Oil Funds as Instruments of Fiscal Stability: A Panel Data Analysis of the Influence of Sovereign Oil Funds on Government Spending and Fiscal Balance 主权石油基金作为财政稳定工具的有效性:主权石油基金对政府支出和财政平衡影响的面板数据分析
ERN: Fiscal Policy & Institutional Change in Transition Economics (Topic) Pub Date : 2014-01-12 DOI: 10.2139/ssrn.2435849
Alexandre Etemad
{"title":"Effectiveness of Sovereign Oil Funds as Instruments of Fiscal Stability: A Panel Data Analysis of the Influence of Sovereign Oil Funds on Government Spending and Fiscal Balance","authors":"Alexandre Etemad","doi":"10.2139/ssrn.2435849","DOIUrl":"https://doi.org/10.2139/ssrn.2435849","url":null,"abstract":"To enrich the debate about the fiscal effectiveness of sovereign wealth funds, this paper explores the effect of sovereign wealth funds (more precisely sovereign oil funds, SOFs) on the government spending in real term and as a share of GDP. First, we evaluate the relationship between the balance of the funds and the real government spending. We also assess how the improvement of the characteristics of the funds may change the real public spending. Then, we introduce an econometric model that explains government spending as a share of GDP with a set of economic and demographic control variables. Thanks to this model, we compare the government spending of countries that have established funds to countries without funds and we also evaluate the change in government spending before and after the establishment of funds. Furthermore, we determine whether a larger balance of funds is better able to perform its stabilizing function. Finally, we extend the exploration to the influence of sovereign funds on the fiscal balance.","PeriodicalId":222083,"journal":{"name":"ERN: Fiscal Policy & Institutional Change in Transition Economics (Topic)","volume":"54 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2014-01-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126272502","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 2
중국의 중장기 경제개혁 과제와 전망 (China's Long-Term Economic Reform: Perspectives and Implications) 中国的中长期经济改革课题与展望(China's Long-Term Economic Reform: Perspectives and Implications)
ERN: Fiscal Policy & Institutional Change in Transition Economics (Topic) Pub Date : 2013-12-30 DOI: 10.2139/SSRN.2439057
Pyeong Seob Yang, Su Yeob Na, Soojoong Nam, Sang Hun Lee, Ho Lim Yoo, Hyun-jun Cho, Eui-Hyun Choi, Hyukku Lee, Youngseok Jang
{"title":"중국의 중장기 경제개혁 과제와 전망 (China's Long-Term Economic Reform: Perspectives and Implications)","authors":"Pyeong Seob Yang, Su Yeob Na, Soojoong Nam, Sang Hun Lee, Ho Lim Yoo, Hyun-jun Cho, Eui-Hyun Choi, Hyukku Lee, Youngseok Jang","doi":"10.2139/SSRN.2439057","DOIUrl":"https://doi.org/10.2139/SSRN.2439057","url":null,"abstract":"Korean Abstract: 금융개혁 과제 중국정부는 자유화ㆍ국제화ㆍ민영화를 금융개혁 방향으로 설정하고, 이를 실현하기 위해 다음과 같은 개혁을 추진할 계획이다. 첫째, 중국은 금융시장의 효율적 자원배분 기능이 정상화되도록 할 예정이다. 둘째, 중국정부는 금융의 실물경제 지원체제 강화와 관련하여 중소기업에 대한 대출환경 개선을 추진한다. 셋째, 중국정부는 금리자유화를 단계적으로 추진하려 한다. 넷째, 중국은 환율이 시장에서 결정되도록 자유화하는 동시에 외환규제를 완화할 방침이다. 다섯째, 중국정부는 향후 발생할 금융 리스크에 대응하기 위한 조치들을 추진한다. 마지막으로 금융감독 시스템의 선진화를 추진한다.재정개혁 과제 현재 중국의 재정제도는 1994년 단행된 분세제를 근간으로 하고 있다. 분세제는 중앙정부 재정수입의 안정적인 증가를 도모하고 중앙정부의 거시경제 조절능력의 제고를 위해 실시되었으며, 중앙정부와 지방정부 사이의 행정관리권(事權)과 재정권(財權)의 관계를 명확하게 하기 위해 실시되었다. 이를 위해 세원에 대해 중앙정부에 귀속되는 국세, 지방정부에 귀속되는 지방세, 그리고 중앙정부와 지방정부가 함께 공유하는 공동세(共享稅)로 구분하여 각각 징수하였다. 그러나 재정력이 중앙정부로 집중되고 지방정부의 재정수입이 안정적으로 유지되기 어려운 조세구조로 인해 지방정부의 재정적자가 빠르게 확대되었다. 현재의 지방정부 채무가 지출에 비해 절대적으로 부족한 수입에 기인하는 구조에서 출발하고 있음을 감안할 때, 지방정부의 채무를 해결하기 위해서는 중앙과 지방의 조세분배율 조정이나 부동산세 징수 등의 재정개혁을 통해 지방정부에 자체적인 세원이나 수입원을 제공해 지방정부의 재정 자립능력을 강화해야 한다.세제개혁 과제 현행 중국의 조세제도는 수평적 공평의 달성에는 유리하나 수직적 공평의 실현에는 불리한 구조를 가지고 있다. 그뿐 아니라 내수 소비의 확대를 통한 글로벌 불균형 문제의 해소에도 불리한 것으로 보인다. 따라서 향후 중국의 세제개혁은 수직적 공평의 실현을 통해 중국 국내에서의 소득불균형ㆍ조세부담의 불공평ㆍ글로벌 불균형문제를 해소하고 자원의 최적배분을 통한 정책 목적의 달성(사회주의 국가의 완성)에 방점을 둘 것으로 예상되는바, 향후 중국정부는 구체적으로 세제를 개편해나갈 것으로 전망된다.국유기업 개혁 과제 2013년 11월 제18기 3중전회의 ‘결정’ 내용 가운데 국유기업 개혁과 관련해 크게 두 가지의 두드러진 점이 있다. 하나는 시장 역할의 재정의이고, 다른 하나는 공유제와 비공유 경제의 위상을 대등하게 설정하면서 혼합소유제를 중시한 것이다. 이로써 제5세대 지도부의 국유기업 개혁의 기본원칙은 드러났으나, 구체적인 시행방침이나 세칙 등은 찾아보기 어렵다. 이번 3중전회에서 ‘전면심화개혁영도소조’를 구성한 것은 중국의 점진주의적(gradualistic)인 개혁 스타일의 연속이다. 이것은 아직 구체적인 계획과 조치가 마련되지 않았음을 의미하고, 또 하나는 그것을 마련하기가 쉽지 않음을 드러낸다. 시장개혁 과제 개혁ㆍ개방 이후 중국은 점진적으로 계획경제에서 시장경제로 그 시스템을 이행시켜 왔다. 1990년대 초까지 중국의 시장개혁은 주로 왜곡된 가격제도를 시정하여 공급부족 경제를 탈피하는 것이었으며, 또한 그 후 십 년간은 개방과 경쟁을 통한 효율성 제고를 추구하였다. 2000년도 이후의 개혁은 좀 더 시장경제의 질서를 갖추기 위한 방향으로 조정이 진행되었다. 현재의 중국경제가 계획경제의 모습에서는 벗어났지만, 그렇다고 완전한 시장경제의 모습을 갖추고 있지는 않다. 공정한 시장경쟁을 위한 개혁조치의 하나가 바로 반독점법의 제정이다. 중국에서의 독점은 시장 내 자연발생된 민간기업에 의한 독점과 정부에 의해 인위적으로 만들어진 국유기업에 의한 독점(행정독점)으로 구분할 수 있다. 지금까지의 반독점 규제개혁은 외자기업을 비롯한 민간부분에서 자연적으로 발생한 독점을 어떻게 규제할 것인가에 대한 내용이었다. 그리고 이 과정에서 외자기업이 차별적인 대우를 받지는 않을까 하는 우려도 있었다. 이런 이유로 앞으로의 반독점 개혁은 법 적용에서의 공평성과 일관성이 중요해질 것이다. 가격개혁 과제 중국은 개혁ㆍ개방 이후 정부 주도의 가격통제에 따른 자원배분의 비효율성 문제를 해결하기 위해 시장경제 가격체제로의 전환을 모색하고 있다. 특히 현재의 지도부에서는 지속가능한 성장을 위한 발전방식의 전환을 위해 자원배분에 있어서 시장의 역할을 강조하고 있으며, 자원ㆍ에너지 가격 및 농산물 가격 시장화를 위한 가격결정 메커니즘에 대한 개혁이 진행되고 있다. 노동ㆍ호적 제도 개혁 과제 중국 국무원은 2013년 2월에 발표한 「소득분배제도 개혁 심화에 관한 약간의 의견, 이하 ‘약간의 의견’이라고 함)」을 통해 민생개선과 분배제도 개혁의 청사진을 제시하였다. 본 연구에서는 노동과 호적제도 개혁을 통해 민생정책의 내용과 그 방향을 분석하였다.대외경제 개혁 과제 중국 신지도부의 대외경제정책 추진 방향은 크게 대외무역 발전방식 전환, 주동적 개방전략, 적극적 통상ㆍ지역협력 전략으로 구분할 수 있다. 우선 국내경제 발전방식의 전환에 부응하여 대외경제 발전방식의 전환을 도모하기 위해 수출산업의 고도화 및 수출ㆍ수입의 균형 발전을 추진한다. 또한 개방을 통해 국내경제의 개혁을 유도하는 데 중점을 두고 있는바, 상하이 자유무역시험구는 이러한 주동적 개방전략 추진의 대표적인 예로 평가할 수 있다. 마지막으로 세계경제의 지역주의와 신보호무역화 추세에 대응하기 위해 적극적인 통상 및 FTA 전략을 추구할 것이다. 중국이 이러한 전략을 실현하기 위한 핵심과제로는 외국인투자와 해외투자 관련 개혁, 위안화 국제화를 위한 자본항목의 자유태환과 환율제도 개혁, 중국의 FTA 추진전략을 제시할 수 있다.중국의 중장기 경제개혁 방향과 시사점 본 연구의 분석 결과 향후 중국의 경제개혁 추진 방향은 다음과 같다. 국유기업 및 국유자산에 대한 개혁에서는 다양한 소유제를 발전시킨다는 것이 기본방향이며, 금융 분야 개혁의 주요 내용은 진입제한 완화, 금리 시장화, 자본시장 개혁, 위안화의 국제화를 위한 관련 제도 개혁을 포함하고 있다. 재정 및 ","PeriodicalId":222083,"journal":{"name":"ERN: Fiscal Policy & Institutional Change in Transition Economics (Topic)","volume":"7 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2013-12-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129198535","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Ewolucja instytucjonalna Mercosur: Elementy integracji gospodarczej i politycznej (Institutional Evolution of Mercosur: Elements of Economic and Political Integration) 南方共同市场的制度演变:经济和政治一体化的要素
ERN: Fiscal Policy & Institutional Change in Transition Economics (Topic) Pub Date : 2013-05-20 DOI: 10.2139/SSRN.2267510
Marcin Stachlewski
{"title":"Ewolucja instytucjonalna Mercosur: Elementy integracji gospodarczej i politycznej (Institutional Evolution of Mercosur: Elements of Economic and Political Integration)","authors":"Marcin Stachlewski","doi":"10.2139/SSRN.2267510","DOIUrl":"https://doi.org/10.2139/SSRN.2267510","url":null,"abstract":"Mercosur jest jednym z ciekawszych rozwiązan regionalnej integracji gospodarczo-politycznej. Obejmuje dzisiaj Brazylie, Argentyne, Urugwaj, Paragwaj i Wenezuele. Czesto porownywane jest z Unią Europejską ze wzgledu na proby upodobnienia swojej siatki instytucjonalnej do projektu europejskiego. Mercosur znajduje sie jednak na zdecydowanie mlodszym poziomie rozwoju, co widac chociazby po problemach, ktore napotykają gospodarki je wspoltworzące. Celem artykulu jest uchwycenie wezlow rozwoju instytucjonalnego Mercosur od jego utworzenia w pierwszej polowie lat 90. do dzisiaj (wlączenie Wenezueli).Mercosur is one of the most interesting attempts of regional economical and political integration. It includes today Brazil, Argentina, Uruguay, Paraguay and Venezuela. It is often compared to the European Union because of the efforts to make its institutional net alike the European project. However, Mercosur is more at the beginning of its development. It can be spotted by the many problems its economies experience. The aim of the article is to capture the main nodes of its institutional development starting from its funding in the first half of the 90 till today (inclusion of Venezuela).","PeriodicalId":222083,"journal":{"name":"ERN: Fiscal Policy & Institutional Change in Transition Economics (Topic)","volume":"8 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2013-05-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125532596","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Macroeconomic Aspects of the Grey Economy - The Case of Macedonia 灰色经济的宏观经济方面——以马其顿为例
ERN: Fiscal Policy & Institutional Change in Transition Economics (Topic) Pub Date : 2012-11-11 DOI: 10.2139/ssrn.2174105
Tome Nenovski
{"title":"Macroeconomic Aspects of the Grey Economy - The Case of Macedonia","authors":"Tome Nenovski","doi":"10.2139/ssrn.2174105","DOIUrl":"https://doi.org/10.2139/ssrn.2174105","url":null,"abstract":"Compared regionally, Republic of Macedonia has one of the highest levels of grey economy activity. According to some estimations, it accounts for about 40% of GDP. This high level of grey economy has a direct influence to the main economic indicators, categories and instruments for macroeconomic regulation: GDP value cannot be precisely measured, there are problems in formulating and realization of macroeconomic policy instruments (fiscal policy, monetary policy, social policy, foreign-trade policy), etc. Because of its high value, grey economy is challenging and serious danger for macroeconomic planning and regulation. By using qualitative, descriptive, statistic and comparative methodologies, this research attempts to locate causes, consequences and the scope of grey economy in Republic of Macedonia. It also presents different ways for measurement of the size of grey economy in the Republic of Macedonia and understands the basic characteristics of the Macedonian case in order to present well‐grounded policy recommendations. The main finding (conclusion) of the paper is the fact that the grey economy in The Republic of Macedonia is a multifaceted phenomenon and the most efficient manner to remove the causes for the occurrence and presence of the grey economy is the improvement of the institutional frame in the country. There is a need for directly focused Government measures that would precipitate the integration of the grey economy in the formal sector, once the right conditions are put in place. The recommendations that this paper promotes will head exactly in that direction. The main recommendation is directed towards activities and measures of the authorities for preventing and removing the reasons of grey economy appearance and punishment of the consequences of this national economy “evil”. Another recommendation is for the Government to increase the speed for redefining (changing) its role on the market. Although there are noticeable signs that the situation has been changing, there is a need for widening the awareness of all business players for the necessity of playing by the rules as well as for enforcing the institutional framework, legal order, moral values and the motivators of the country’s functional economy.","PeriodicalId":222083,"journal":{"name":"ERN: Fiscal Policy & Institutional Change in Transition Economics (Topic)","volume":"12 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2012-11-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125334235","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 4
The Impact of the Global Crisis on South-Eastern Europe 全球危机对东南欧的影响
ERN: Fiscal Policy & Institutional Change in Transition Economics (Topic) Pub Date : 2011-12-01 DOI: 10.2139/ssrn.1982368
E. Cocozza, A. Colabella, Francesco Spadafora
{"title":"The Impact of the Global Crisis on South-Eastern Europe","authors":"E. Cocozza, A. Colabella, Francesco Spadafora","doi":"10.2139/ssrn.1982368","DOIUrl":"https://doi.org/10.2139/ssrn.1982368","url":null,"abstract":"This paper analyzes the impact of the global crisis on six South-Eastern European countries. The main objective is to compare macro-financial conditions and policies in the run-up to the crisis as well as to compare the policy responses to it, so as to highlight, inter alia, possible country-specific constraints. While sharing a common precrisis pattern of strong capital inflows and robust growth, a key difference in the conduct of macroeconomic policies is that some countries adopted expansionary (and procyclical) fiscal policies. These moves exacerbated extern al vulnerabilities and compromised the ability to discretionarily use the fiscal instrument in a countercyclical fashion.","PeriodicalId":222083,"journal":{"name":"ERN: Fiscal Policy & Institutional Change in Transition Economics (Topic)","volume":"7 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2011-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127778665","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 35
Budget Processes, Expenditures Assignments and Development Challenges at the State and Local Levels in the Gezira State, Sudan 苏丹格齐拉州州和地方各级的预算程序、支出分配和发展挑战
ERN: Fiscal Policy & Institutional Change in Transition Economics (Topic) Pub Date : 2010-07-10 DOI: 10.2139/ssrn.1638463
M. M. Ahmed
{"title":"Budget Processes, Expenditures Assignments and Development Challenges at the State and Local Levels in the Gezira State, Sudan","authors":"M. M. Ahmed","doi":"10.2139/ssrn.1638463","DOIUrl":"https://doi.org/10.2139/ssrn.1638463","url":null,"abstract":"This paper examines budget processes [the preparation, execution and monitoring stages] and the fiscal performance of the Gezira State and its localities. It analyzes the fiscal performance of the state and localities [expenditures composition and trends], and addresses the topic of off-budget activities in the state.It also focuses on the development spending of the Gezira state, at both state and local levels.","PeriodicalId":222083,"journal":{"name":"ERN: Fiscal Policy & Institutional Change in Transition Economics (Topic)","volume":"45 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2010-07-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124575008","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Fiscal Policy in the Crisis: Impact, Sustainability, and Long-Term Implications 危机中的财政政策:影响、可持续性和长期影响
ERN: Fiscal Policy & Institutional Change in Transition Economics (Topic) Pub Date : 2009-12-14 DOI: 10.2139/ssrn.1627990
P. Padoan
{"title":"Fiscal Policy in the Crisis: Impact, Sustainability, and Long-Term Implications","authors":"P. Padoan","doi":"10.2139/ssrn.1627990","DOIUrl":"https://doi.org/10.2139/ssrn.1627990","url":null,"abstract":"The global economic and financial crisis has sparked an unprecedentedly large, generalized fiscal policy response in practically all major industrial and emerging economies, which will change the fiscal and macroeconomic landscapes for some time to come. This paper offers an overview of the new fiscal landscape looking at the following aspects: the size and composition of the fiscal stimulus packages of the major economies, the likely impact of such packages on aggregate demand and growth, the sustainability of countries’ fiscal positions, and the international implications of the new fiscal landscape. It then considers under which conditions a virtuous scenario could develop that combines strong and balanced growth with fiscal sustainability. Finally, it offers some conclusions and lessons that can be shared by European and non-European economies. [ADBI Working Paper 178]","PeriodicalId":222083,"journal":{"name":"ERN: Fiscal Policy & Institutional Change in Transition Economics (Topic)","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2009-12-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132667728","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 15
Local Fiscal Equalization in Estonia: Is a Reform Necessary? 爱沙尼亚地方财政均等化:改革是否必要?
ERN: Fiscal Policy & Institutional Change in Transition Economics (Topic) Pub Date : 2009-09-01 DOI: 10.1111/J.1467-940X.2010.00173.X
P. Friedrich, C. Nam, Janno Reiljan
{"title":"Local Fiscal Equalization in Estonia: Is a Reform Necessary?","authors":"P. Friedrich, C. Nam, Janno Reiljan","doi":"10.1111/J.1467-940X.2010.00173.X","DOIUrl":"https://doi.org/10.1111/J.1467-940X.2010.00173.X","url":null,"abstract":"Estonian municipalities should perform a broad range of functions, while their fiscal resources are often limited and large disparities in fiscal capacity prevail among them. Moreover, the power to regulate fiscal affairs is mostly in the hands of the central government. We discuss how a strict application of the connexity principle can protect municipalities from the fiscal bottleneck. We also recommend the introduction of the principle of parallelism and investigate its effects on the unconditional, down-flow grant system in Estonia. In particular the procedure of determining the total sum of block grants appears to be changed.","PeriodicalId":222083,"journal":{"name":"ERN: Fiscal Policy & Institutional Change in Transition Economics (Topic)","volume":"99 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2009-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127170428","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 72
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