Investments in fiscal capacity—economic institutions for tax compliance—are an important feature of economic development. This paper develops a dynamic model to study the evolution of over time. We contrast a social planner’s investment path with politically feasible paths. Three types of states emerge in the long run: a commoninterest state where public resources are devoted to public goods, a...

The title complex, [PtCl(C14H23N5)]Cl 2H2O, is isomorphous with the Pd compound characterized previously [Mendoza, Bernès & Mendoza-Dı́az (2006). Acta Cryst. E62, m2934– m2936]. The angle between pyrazole mean planes in the main ligand is 88.3 (4) , similar to that observed in the Pd analogue [87.62 (11) ]. This tridentate ligand adopts a conformation approximating a twofold symmetry, allowing i...

US federal transfers to individuals are large, countercyclical, vary geographically, and often credited with helping stabilize regional economies. This paper estimates the short-run effects of these using plausibly exogenous variation in temporary stimulus payments permanent Social Security benefit increases. States that received larger tended grow faster contemporaneously, a multiplier around ...

Given the unforeseen and uncertain circumstances during pandemic, role of government expenditure becomes extremely relevant in sustaining lives livelihoods masses. This brings forth public sector deficit as a key issue macroeconomic policy debate. article aims at investigating effects an unanticipated adverse shock like COVID-19, on real value debt, small open economy, consisting traded non-tra...

The hoped-for silver lining of euro-area austerity programs was to raise external competitiveness and improve current accounts. Using product- industry-level data for 12 countries over the period 1999–2018, we show that reductions in government spending reduce prices wages but only products with low import content industries export shares. This leads asymmetric expenditure switching, net export...

This study aims to analyze inflation's volatility as a combined phenomenon of energy, monetary and fiscal policies in Indonesia. By using secondary data the form quarter-time series from 2011 2019. uses descriptive quantitative analysis techniques with help Eviews 10. The findings are that all variables have significant effect on inflation Indonesia except tax revenue. Thus, it is evident count...

We study issues related to the long-run distribution of wealth in two variants of Ramsey’s model of optimal capital accumulation. First we show that, in the case where a government levies a progressive income tax, there exist infinitely many stationary equilibria in which all households own positive capital stocks. Moreover, it is demonstrated that non-stationary equilibria can exhibit complica...

We extend a standard overlapping-generations general-equilibrium model with idiosyncratic working ability shocks to design the optimal social security pension system. There are two main features in our approach. First, we keep track of individual social security wealth explicitly so that we can evaluate a wide range of policies, including “private accounts,” seamlessly. Second, we express our s...

The Keynesian multiplier effect is reinterpreted and several issues that may have misled assessments of the effect of fiscal spending are discussed. It is shown that even in the textbook Keynesian framework some transfer policy ‘reduces’ aggregate demand and that public works spending may completely crowd out private consumption. Useless public works are found to be equivalent to transfers alth...

We test whether the sharp increase in sovereign spreads of euro-area countries with respect to Germany after the explosion of the Greek crisis was due to deteriorating macroeconomic and fiscal fundamentals or to some form of financial contagion. Our analysis includes indicators of domestic and external imbalances which were mostly disregarded by previous studies, and distinguishes between inves...