Fiscal Union Consensus Design under the Risk of Autarky* Inspired by the current debate over the future of the monetary union in Europe, this paper provides a simple model for the determination of the conditions of survival of the common good, which requires the creation of an effective fiscal union. We highlight the importance of institutional design and varying decision weights for the enlarg...

This paper analyzes fiscal competition among numerous spatiallyseparated jurisdictions in an explicitly dynamic framework. The degree of factor mobility between jurisdictions is imperfect because it is costly and timeconsuming to adjust factor stocks. Even if it is harmful in the long run, a jurisdiction’s residents can benefit in the short run from taxing mobile factors owned by non-residents....

This paper examines the country specific effect of policy reform on infrastructure spending in China and India. In China we have examined how marketization and decentralization has affected the composition of provincial public expenditure and in the case of India we have examined the impact of fiscal reforms on sub-national infrastructure spending. It is observed that in China with a lower mark...

This paper presents a comprehensive cross-country database of fiscal space, broadly defined as the availability budgetary resources for government to service its financial obligations. The covers up 202 countries over period 1990–2020, and includes 30 indicators space grouped into four categories: debt sustainability, balance sheet vulnerability, external private sector debt-related risks poten...