Money's Fiscal Dictionary.

Currency exchange system for electronic moneys

A currency exchange system is introduced for a multi-currency electronic money trial, in which smartcardbased electronic moneys (two currencies) are circulated over the Internet. Considering the need to support our existing single currency electronic money protocol, the exchange method proposed herein offers fairness between untrusted parties based on the “optimistic approach”. This paper descr...

Hard Moneys Soft Underbelly: Understanding the Argentine Crisis

1 Fiscal Flows , Fiscal Balance , and Fiscal Sustainability Richard

The search for “fiscal indicators” to provide a short-hand (and preferably quantitative) picture of the size, direction, and nature of intergovernmental finance – and, ideally, some guidance for policy designed to improve outcomes – appears to be neverending. “Fiscal balance” and “fiscal sustainability” are, for example, terms commonly heard in discussions of intergovernmental fiscal relations....

Commentary: Fiscal Policy and the Fiscal Position

As economics has developed, a number of different fiscal principles have been suggested. Perhaps the oldest principle was that the Government should balance its books. This principle was adopted by the 1979 Conservative Government but they delivered a budget in balance or in surplus only in 1988/89 and 1989/90. The same principle has been adopted in the Stability and Growth Pact, albeit with an...

Fiscal Incidence, Fiscal Mobility and the Poor

Taxes and transfers can have significant impacts on poverty and inequality. All standard measures are by definition anonymous in the sense that we do not know the identity of winners and losers. That a given combination of taxes and transfers makes some of the poor poorer, however, may be important information to incorporate into a fiscal incidence analysis. The directional mobility literature ...