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Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook x Public Economics x clear all

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Over-optimism in forecasts by official budget agencies and its implications

Jeffrey Frankel.

in Oxford Review of Economic Policy

December 2011; p ublished online December 2011 .

Journal Article. Subjects: National Government Expenditures and Related Policies; Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook. 8164 words.

The paper studies forecasts of real growth rates and budget balances made by official government agencies among 33 countries. In general, the forecasts are found: (i) to have a positive...

Policy coordination, conflicting national interests and the European debt crisis

Carlo Panico and Francesco Purificato.

in Cambridge Journal of Economics

May 2013; p ublished online April 2013 .

Journal Article. Subjects: National Budget, Deficit, and Debt; National Government Expenditures and Related Policies; Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook; Monetary Policy, Central Banking, and the Supply of Money and Credit. 12585 words.

This paper tries to identify the causes of and solutions to the debt crisis, by moving from the content of a previous debate on policy coordination in the euro area and from the available...

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Public debt sustainability and alternative theories of interest

Tony Aspromourgos, Daniel Rees and Graham White.

in Cambridge Journal of Economics

May 2010; p ublished online April 2009 .

Journal Article. Subjects: National Budget, Deficit, and Debt; Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook; Monetary Policy, Central Banking, and the Supply of Money and Credit; Money and Interest Rates. 8146 words.

This paper reappraises sustainable trajectories of public debt and fiscal balance, with particular reference to the possible relations between the interest rate on debt and the growth rate...

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Resource Funds: Stabilising, Parking, and Inter-generational Transfer

Anthony J. Venables and Samuel E. Wills.

in Journal of African Economies

September 2016; p ublished online October 2016 .

Journal Article. Subjects: Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook; International Finance; Macroeconomic Aspects of International Trade and Finance; Taxation, Subsidies, and Revenue; National Budget, Deficit, and Debt; Economic Development; Non-renewable Resources and Conservation. 9815 words.

The paper explores strategies for managing revenue from natural resources, focusing on the balance between domestic and foreign asset accumulation. It suggests that domestic asset...

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Rethinking the economic borders of the state—ownership, assets, and competition

Dieter Helm.

in Oxford Review of Economic Policy

January 2015; p ublished online October 2015 .

Journal Article. Subjects: Public Economics; Taxation, Subsidies, and Revenue; Publicly Provided Goods; Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook. 9855 words.

The paper sets out a new asset-based framework for the economic borders of the state. It considers how the economic borders have changed in response to major shocks, notably in the 1980s,...

The role of the media in fiscal consolidation programmes: the case of Ireland

Julien Mercille.

in Cambridge Journal of Economics

March 2014; p ublished online December 2013 .

Journal Article. Subjects: National Budget, Deficit, and Debt; Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook. 10693 words.

A number of European countries have implemented austerity programmes since the onset of the current economic crisis. This paper focuses on fiscal consolidation, a central aspect of such...

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The six flaws of the Eurozone

Charles Wyplosz.

in Economic Policy

July 2016; p ublished online July 2016 .

Journal Article. Subjects: Monetary Policy, Central Banking, and the Supply of Money and Credit; Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook; International Finance; National Budget, Deficit, and Debt. 20162 words.

SUMMARY

When it was created, it was reasonable to think that the architecture of the monetary union was not perfect. It was also likely that the...

Social discounting, migration, and optimal taxation of savings

Valeria De Bonis and Luca Spataro.

in Oxford Economic Papers

July 2010; p ublished online September 2009 .

Journal Article. Subjects: Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook; Taxation, Subsidies, and Revenue. 6741 words.

We study the problem of optimal inheritance and capital income taxation in an economy with migration. We find that, contrary to previous studies on OLG models, even if the utility function...

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Sovereign Debt, Government Myopia, and the Financial Sector

Viral V. Acharya and Raghuram G. Rajan.

in The Review of Financial Studies

June 2013; p ublished online April 2013 .

Journal Article. Subjects: Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook; Financial Institutions and Services; National Budget, Deficit, and Debt. 14348 words.

What determines the sustainability of sovereign debt? We develop a model where myopic governments seek popularity but can nevertheless commit credibly to service external debt. They do not...

Sovereign Wealth Funds and Natural Resource Management in Africa

Samuel E. Wills, Lemma W. Senbet and Witness Simbanegavi.

in Journal of African Economies

September 2016; p ublished online October 2016 .

Journal Article. Subjects: Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook; International Finance; Macroeconomic Aspects of International Trade and Finance; Corporate Governance; Corporate Regulation; Taxation, Subsidies, and Revenue; National Budget, Deficit, and Debt; Publicly Provided Goods; National Government Expenditures and Related Policies; Economic Development; Non-renewable Resources and Conservation. 8386 words.

Non-renewable resources dominate nearly one quarter of the world's economies. Over half of these economies are developing, with many in Africa. Managing resource revenues is one of the most...

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Strategies of regional development in European regions: are they efficient?

Marco Percoco.

in Cambridge Journal of Regions, Economy and Society

July 2013; p ublished online May 2013 .

Journal Article. Subjects: National Government Expenditures and Related Policies; Regional Government Analysis; Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook. 7064 words.

A wealth of literature has focused on the effectiveness of cohesion policy for regional development. However, most studies have neglected the heterogeneous nature of such interventions. In...

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Stylised fact or situated messiness? The diverse effects of increasing debt on national economic growth

Andrew Bell, Ron Johnston and Kelvyn Jones.

in Journal of Economic Geography

March 2015; p ublished online March 2014 .

Journal Article. Subjects: National Budget, Deficit, and Debt; Single Equation Models; Single Variables; Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook. 8631 words.

This article reanalyses data used by Reinhart and Rogoff (2010c, American Economic Review, 100: 573–78—RR), and later Herndon et al. (2013, Cambridge Journal of Economics, online, doi:...

The sustainable borders of the state

Dieter Helm.

in Oxford Review of Economic Policy

December 2011; p ublished online December 2011 .

Journal Article. Subjects: Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook; Public Economics. 10390 words.

Economic crises have historically set the stage for the reconfiguration of the economic borders of the state. Current concerns focus on debt and associated intergenerational issues, such as...

A Tale of Cyclicality, Aid Flows and Debt: Government Spending in Sub-Saharan Africa

Victor D. Lledó, Irene Yackovlev and Lucie Gadenne.

in Journal of African Economies

November 2011; p ublished online June 2011 .

Journal Article. Subjects: Economywide Country Studies; Fiscal Policies and Behaviour of Economic Agents; Prices, Business Fluctuations, and Cycles; Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook. 7872 words.

This paper documents cyclical patterns of government expenditures in Sub-Saharan Africa since 1970 and explains variation between countries and over time. Controlling for endogeneity and...

Tax and Expenditure Reforms in Africa: An Overview

Ramos E. Mabugu and Witness Simbanegavi.

in Journal of African Economies

March 2015; p ublished online February 2015 .

Journal Article. Subjects: Economic Development; Fiscal Policies and Behaviour of Economic Agents; Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook; Mathematical Methods; Programming Methods; Mathematical and Simulation Modelling; Taxation, Subsidies, and Revenue. 6605 words.

Taxation is recognised as being able to affect economic growth, poverty and inequality. In Africa, taxation is an instrument that can be used to promote development. Like other countries,...

Taxation and Household Labour Supply

Nezih Guner, Remzi Kaygusuz and Gustavo Ventura.

in The Review of Economic Studies

July 2012; p ublished online December 2011 .

Journal Article. Subjects: Demand and Supply of Labour; Demographic Economics; Fiscal Policies and Behaviour of Economic Agents; Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook. 18130 words.

We evaluate reforms to the U.S. tax system in a life cycle set-up with heterogeneous married and single households and with an operative extensive margin in labour supply. We restrict our...

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Taxation and Labour Supply of Married Couples across Countries: A Macroeconomic Analysis

Alexander Bick and Nicola Fuchs-Schündeln.

in The Review of Economic Studies

July 2018; p ublished online October 2017 .

Journal Article. Subjects: Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook; Taxation, Subsidies, and Revenue; Fiscal Policies and Behaviour of Economic Agents; Demographic Economics; Demand and Supply of Labour. 19064 words.

Abstract

We document contemporaneous differences in the aggregate labour supply of married couples across seventeen European countries and the U.S. Based on a...

Time-Consistent Public Policy

Paul Klein, Per Krusell and José-Víctor Ríos-Rull.

in The Review of Economic Studies

July 2008; p ublished online July 2008 .

Journal Article. Subjects: National Government Expenditures and Related Policies; Mathematical Methods; Programming Methods; Mathematical and Simulation Modelling; Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook. 10015 words.

In this paper we study how a benevolent government that cannot commit to future policy should trade off the costs and benefits of public expenditure. We characterize and solve for...

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The UK’s Coalition government and heterodox economics

Michael Ellman.

in Cambridge Journal of Economics

September 2015; p ublished online August 2015 .

Journal Article. Subjects: Economic Methodology; Wages, Compensation, and Labour Costs; National Budget, Deficit, and Debt; General Aggregative Models; Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook; Public Economics. 4683 words.

The UK Coalition government’s economic policy was primarily aimed at reducing the large fiscal deficit that it inherited, mainly by cutting expenditure. This was considered irrational by...

Walking up the Down Escalator: Public Investment and Fiscal Stability

William Easterly, Timothy Irwin and Luis Servén.

in The World Bank Research Observer

January 2008; p ublished online January 2008 .

Journal Article. Subjects: National Budget, Deficit, and Debt; National Government Expenditures and Related Policies; Development Planning and Policy; Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook. 7600 words.

When growth-promoting spending is cut so much that the present value of future government revenues falls by more than the immediate improvement in the cash deficit, fiscal adjustment...

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