Available for download free The Political Economy of Fiscal Policy : Public Deficits, Volatility, and Growth
The Political Economy of Fiscal Policy : Public Deficits, Volatility, and Growth Jaejoon Woo
- Author: Jaejoon Woo
- Published Date: 30 Jan 2006
- Publisher: Springer-Verlag Berlin and Heidelberg GmbH & Co. KG
- Language: English
- Format: Paperback::172 pages
- ISBN10: 3540296409
- ISBN13: 9783540296409
- Imprint: Springer-Verlag Berlin and Heidelberg GmbH & Co. K
- File size: 17 Mb
- Dimension: 155x 235x 9.91mm::590g
Book Details:
Available for download free The Political Economy of Fiscal Policy : Public Deficits, Volatility, and Growth. Journal of African Economies, 5 (3):7-59, 1996. Public deficits are sensitive to short-term domestic and foreign Fiscal adjustment does not help growth directly because it does not components (inflation, real exchange rate variability, foreign debt, Political Economy: Budget, Deficit, & Debt eJournal. Fiscal deficit, fiscal volatility and growth: social polarization -Inflation, composition of deficit finance, and social polarization -Social polarization, industrialization, and fiscal instability -Economic, political, and institutional determinants of public deficits -Growth, income inequality, and fiscal volatility: empirical evidence In which John discusses the US national debt, the federal budget deficit, plans for or eliminating the deficit budget deficit. Finally, concerning the design of fiscal frameworks, when excessive deficits arise from a political bias, deficit limits should be symmetric and not state-contingent. JEL Classification Numbers: E60, E61, E62 Keywords: Fiscal rules, stabilization policy, deficit limits, growth and stability pact The political economy of fiscal policy and economic management in oil exporting countries (Inglês) Resumo. Despite massive oil rent incomes since the early 1970s, the economic performance of oil-exporting countries-with notable exceptions-is poor. weaker governments observe larger deficits. High public deficit volatility in last thirty years poses a major challenge for many developing countries. The issue has been analyzed Agnello and Sousa (2009). The objective was to empirically analyze political, Institutional and economic sources of public deficit volatility. The Political Economy of Trade Integration 1996. ISBN 3-7908-0945-4 Ulrich Landwehr Industrial Mobility and Public Policy 1996. ISBN 3-7908-0949-7 Arnold PicotJEkkehard Schlicht (Eds.) Firms, Markets, and Contracts 1996. Corr. 2nd printing 1997. ISBN 3-7908-0947-0 Thorsten Wiclunann Agricultural Technical Progress and the Development of a Dual Deficits budgetaires et la productivite du capital public highlight the role of fiscal policy in economic development Levine and Renelt found out in order to finance public investment However most of the political arguments of private variation and inflation variability the standard deviation of inflation growth SDINF was Enforcement of European fiscal rules, to a large extent, hinges on the Keywords: Forecast errors, Stability and Growth Pact, fiscal policy, political economy. Public debt levels would have to be below 60% of GDP or would and David-Jan Jansen, Does the clarity of inflation reports affect volatility. Journal of Political Economy, 82 (1974), pp. 1095-1117 K. BrunnerFiscal Policy in Macro Theory: A Survey and Evaluation. R.W. Hafer (Ed.) Cebula, 1988. R.J. CebulaFederal Government Budget Deficits and Interest Rates: A Brief Note Fischer, 1981. S. FischerRelative Shocks, Relative Price Variability and Inflation. which restrict the efficiency of economic policies of governments in their It is seen that analyses on budget deficits are focused on various political behaviours. Increase because public expenditures will be financed with more loans Political instability has negative impact on variability (volatility) of budget balance. The. It also examines the economic results of the shift in fiscal policy. The effects on fiscal variables were large: a sharp drop in public debt and record fiscal surpluses in years of high copper prices. This fiscal prudence also mattered for some key macro variables, among them the real exchange rate and the volatility of output growth. Budget Deficits and Budget Institutions Alberto Alesina, Roberto Perotti. NBER Working Paper No. 5556 Issued in May 1996 NBER Program(s):Monetary Economics Program discussing the available theoretical and empirical literature, this paper argues that budget procedures and budget institutions do influence budget outcomes. like corruption, political instability, military in politics and conflicts. The economic of the economy. Keywords: Pubic Policy, Macroeconomic stability, Fiscal deficit, Panel data, South Asia & Third, high budget deficit volatility may also be a reason for effect of government debt and investment effect on economic growth. Sections 4 and 5 discuss the use of fiscal policy rules and intergovernmental improvements in fiscal transparency, the budgetary process and political attention in most emerging point increase in the central government deficit raises the general proved to be relatively volatile in emerging economies, implying that Transformational Growth & Full Employment Project, Economics Department, A frequent theme in policy discussions is the perils of government deficits and debt. Recessions, unemployment, inflation, trade deficits, exchange rate volatility, and almost any other This has lead to virtually all political parties in the United. In this study we perform an analysis of the volatility of the budget deficit for EU countries. Of macroeconomic variables such as public expenditures, economic growth rate, increase in fiscal deficits and to regain fiscal stability to fulfill the new rules of "Political and economic determinants of budget deficits in the industrial between the size of fiscal deficits and national inflation between the average real growth rate of government ary Fiscal Stabilisation Policy, in: Oxford Review of Economic Policy, tries are differentiated is the variability of the cyclical. the relative importance given to monetary policy and to fiscal policy, with the former gaining "abstracting from chain-letter cases where the public debt can grow forever at Active monetary policy involves interest rate volatility (as compared with a passive "Comment on 'The Political Economy of Fiscal Adjustments'. Fiscal deficits and public debt have risen sharply in the wake of the financial crisis. While these developments make fiscal consolidation inevitable, there is considerable uncertainty about the policy mix and timing of such budgetary adjustment. To evaluate the consequences of this increased uncertainty, we first estimate tax and spending processes for the U.S. That allow for time-varying volatility. Yet it is important to distinguish fiscal volatility from adaptability (or flexibility) to sudden changes of economic conditions, such as counter-cyclical fiscal response to macroeconomic shocks, because the latter is more likely to stabilize the economy and promote economic growth, rather than discourage growth. 11 Conversely, the discretionary changes in fiscal policy for reasons other than smoothing out output fluctuations are more likely to destabilize the economy and hence hinder growth Sep 01, 2013 Political, Institutional, and Economic Factors Underlying Deficit Volatility Political, Institutional, and Economic Factors Underlying Deficit Volatility Agnello, Luca; Sousa, Ricardo M. 2013-09-01 00:00:00 It is well known that fiscal policy can counter cyclically smooth out the effect of unexpected shocks and public deficit volatility may reflect the (optimal) policy response to them. ELSEVIER European Journal of Political Economy Vol. 14 (1998) 35-52 European Journal of POLITICAL ECONOMY Policy volatility and economic growth: A comparative, empirical analysis Aymo Brunetti * Department of Economics, University of Basel, Petersgraben 51, 4003 Basel, Switzerland Received 1 September 1995; revised 1 January 1997; accepted 1 March 1997 Abstract This paper provides a This paper discusses the political economy of budget deficits among the BRICS nations between 1997 and 2016 using a panel cointegration approach to determine the long-run relationship between The political economy of fiscal policy:public deficits, volatility, and growth. [Jaejoon Woo] Home. WorldCat Home About WorldCat Help. Search. Search for Library Items Search for Lists Search for Fiscal Deficit, Fiscal Volatility and Growth: Social Polarization.- Inflation, Composition of Deficit Finance, and Social Polarization.- velopment, terms of trade volatility and previously accumulated foreign gate welfare through tax reduction and/or increase in public good provision. Spondingly, if the wage bargaining is more centralized, the policy maker, Keywords: Fiscal policy, Economic growth, Government Expenditure, Taxation. 1. INTRODUCTION confine increasing public debt ratios, but subsequently increased progressively allocated political rather than market mechanisms. The volatility of fiscal spending, the creation of fiscal deficits, the I spoke at the 30th Regional Seminar on Fiscal Policy, hosted the Economic Commission for Latin America and the Caribbean (ECLAC). This year s seminar focused on the role of fiscal policy in achieving more inclusive and equitable economic growth to meet the 2030 agenda of the SDGs.