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This paper explores the Labour government’s fiscal policy performance at the macroeconomic level. This analysis is in two halves. The first covers the period up until the Great Recession,...

This paper considers how the economically important assets, liabilities, and institutions in the UK could be divided if Scotland becomes an independent country. We find that on the basis of...

Through constructing a new Keynesian DSGE model with heterogeneous agents, this article investigates both the aggregate and distributional consequences of fiscal policy. Polarized...

This paper develops an index measuring the adequacy of the institutions, rules and procedures governing the budget process in forty-six African countries, presenting the most comprehensive...

Building faith in a common future, which is at the core of the making of a common currency, has been declining since the turn of the 1980s. The economic neoliberalism that diffused...

We examine the effect of elections and government ideology on public funding to the agricultural sector using a panel model for more than 70 democratic countries from 1975-2009. We find...

Abstract

The 2008 financial crisis has been seen as providing an opportunity for core eurozone members to push neoliberal policies onto the periphery in order...

In this article we analyse the relation between the dynamics of economic growth and the welfare state using the Swedish experience as a case study. We defend three theses concerning the...

We consider the economic record of the 1997–2010 Labour government in the UK. Following a brief review of the government’s inheritance from its predecessor, we review the assessments made...

Simple time series regressions for 37 low-income African countries during 1960–2004 suggest that government consumption is highly procyclical, with consumption responding more than...

There is mounting evidence of a complex system of multi-directional links between fertility, productivity and inequality. The contribution of this study is a multi-country analysis of these...

Using real-time data, we explore the determinants of both fiscal plans and their implementation for OECD countries over the period 1995–2006. First, based on forecasts we estimate standard...

Abstract

We have examined the fiscal consolidation episodes in a group of OECD countries from 2009 to 2014. The range of the estimated short-term fiscal...

This paper provides evidence of various reactions of growth rates to changes in the composition of taxes and public spending in Europe. We use a quantile estimator to allow different slopes...

By distinguishing between discretionary and non-discretionary fiscal policy, this paper analyses the stability of fiscal rules for EMU countries before and after the Maastricht Treaty....

This article shows that equilibrium unemployment dynamics can significantly increase the efficacy of fiscal policy. In response to a shock that brings the economy into a liquidity trap, an...

I undertake a quantitative investigation into the short run effects of changes in the timing of proportional income taxes for model economies in which heterogeneous households face a...

Extending a model by Buffie et al. (2012), we explore the macroeconomic implications of public investment and fiscal reforms in an environment where the tax system is distortionary. We...

The contemporary wide-scale austerity measures are likely to fail in most countries. The first fallacy derives from the false diagnosis that the present crisis is the outcome of lax public...