Aggregate fiscal policy under the Labour government, 1997–2010
in Oxford Review of Economic Policy
January 2013; p ublished online June 2013 .
Journal Article. Subjects: National Budget, Deficit, and Debt; Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook. 11278 words.
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,...
Assets and liabilities and Scottish independence
in Oxford Review of Economic Policy
January 2014; p ublished online August 2014 .
Journal Article. Subjects: National Budget, Deficit, and Debt; Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook. 6841 words.
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...
Austerity versus stimulus: the polarizing effect of fiscal policy
in Oxford Economic Papers
July 2015; p ublished online March 2015 .
Journal Article. Subjects: Fiscal Policies and Behaviour of Economic Agents; Prices, Business Fluctuations, and Cycles; Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook. 7512 words.
Through constructing a new Keynesian DSGE model with heterogeneous agents, this article investigates both the aggregate and distributional consequences of fiscal policy. Polarized...
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Budget Institutions and Fiscal Performance in Africa
in Journal of African Economies
January 2011; p ublished online October 2010 .
Journal Article. Subjects: National Budget, Deficit, and Debt; Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook. 13530 words.
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 currency: can the eurozone get beyond the Common Market logic?
in Cambridge Journal of Economics
January 2012; p ublished online January 2012 .
Journal Article. Subjects: International Relations and International Political Economy; Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook; Public Economics; Macroeconomics and Monetary Economics. 5935 words.
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...
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CAN LOBBYING PREVENT ANTICOMPETITIVE OUTCOMES? EVIDENCE ON CONSUMER MONOPSONY IN TELECOMMUNICATIONS
in Journal of Competition Law & Economics
December 2008; p ublished online June 2008 .
Journal Article. Subjects: Marketing; Analysis of Collective Decision-making; Energy and Utilities; Antitrust Issues and Policies; Law and Economics; Regulation and Industrial Policy; Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook; Public Economics. 12089 words.
When basic competition rules cannot stop market power abuses, industry-specific regulations can improve economic performance. But regulations are also more immediately exposed to political...
Conditional Election and Partisan Cycles in Government Support to the Agricultural Sector: An Empirical Analysis
in American Journal of Agricultural Economics
July 2013; p ublished online May 2013 .
Journal Article. Subjects: National Government Expenditures and Related Policies; Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook; Agricultural Economics. 11971 words.
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...
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The crisis as opportunity? On the role of the Troika in constructing the European consolidation state
in Cambridge Journal of Regions, Economy and Society
October 2018; p ublished online October 2018 .
Journal Article. Subjects: Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook; International Finance; Public Economics. 11625 words.
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...
Economic growth and welfare state: a case study of Sweden
in Cambridge Journal of Economics
July 2014; p ublished online October 2013 .
Journal Article. Subjects: Welfare and Poverty; National Government Expenditures and Related Policies; Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook. 8224 words.
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...
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The economic record of the 1997–2010 Labour government: an assessment
in Oxford Review of Economic Policy
January 2013; p ublished online June 2013 .
Journal Article. Subjects: Health, Education, and Welfare; National Government Expenditures and Related Policies; Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook. 12792 words.
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...
Explaining Procyclical Fiscal Policy in African Countries
in Journal of African Economies
June 2008; p ublished online January 2008 .
Journal Article. Subjects: National Budget, Deficit, and Debt; National Government Expenditures and Related Policies; Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook. 3443 words.
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...
Fertility, income inequality, and labour productivity
in Oxford Economic Papers
October 2008; p ublished online February 2008 .
Journal Article. Subjects: Multiple or Simultaneous Equation Models; Multiple Variables; Fiscal Policies and Behaviour of Economic Agents; Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook; Economic Growth and Aggregate Productivity. 7222 words.
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...
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Fiscal adjustment to cyclical developments in the OECD: an empirical analysis based on real-time data
in Oxford Economic Papers
July 2010; p ublished online December 2009 .
Journal Article. Subjects: National Budget, Deficit, and Debt; Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook. 9289 words.
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...
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Fiscal consolidation after the Great Recession: the role of composition
in Oxford Economic Papers
April 2018; p ublished online July 2017 .
Journal Article. Subjects: General Aggregative Models; Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook; Public Economics. 9014 words.
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...
Fiscal policies enhancing growth in Europe: does one size fit all?
in Oxford Economic Papers
October 2016; p ublished online June 2016 .
Journal Article. Subjects: Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook; Fiscal Policies and Behaviour of Economic Agents. 9036 words.
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...
Fiscal policy and monetary integration in Europe: an update
in Oxford Economic Papers
April 2010; p ublished online June 2009 .
Journal Article. Subjects: National Budget, Deficit, and Debt; Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook; Public Economics. 10169 words.
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....
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Fiscal Policy in an Unemployment Crisis
in The Review of Economic Studies
July 2016; p ublished online February 2016 .
Journal Article. Subjects: Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook; Prices, Business Fluctuations, and Cycles; Mobility, Unemployment, and Vacancies; Fiscal Policies and Behaviour of Economic Agents. 15535 words.
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...
Fiscal Policy with Heterogeneous Agents and Incomplete Markets
in The Review of Economic Studies
January 2005; p ublished online January 2005 .
Journal Article. Subjects: Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook; Taxation, Subsidies, and Revenue. 14017 words.
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...
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Fiscal Reforms and Public Investment in Africa
in Journal of African Economies
March 2015; p ublished online February 2015 .
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; Economic Development. 11096 words.
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 four fallacies of contemporary austerity policies: the lost Keynesian legacy
in Cambridge Journal of Economics
January 2012; p ublished online January 2012 .
Journal Article. Subjects: Public Economics; History of Economic Thought (1925 onwards); Economywide Country Studies; Money and Interest Rates; International Finance; National Budget, Deficit, and Debt; General Aggregative Models; Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook; Macroeconomic Aspects of International Trade and Finance. 11726 words.
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...
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