Political And Economic Determinants Of Budget Deficits In The Industrial Democracies PDF Download
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Author | : Nouriel Roubini |
Publisher | : |
Total Pages | : 76 |
Release | : 1988 |
Genre | : Budget deficits |
ISBN | : |
Download Political and Economic Determinants of Budget Deficits in the Industrial Democracies Book in PDF, ePub and Kindle
This paper focuses on the management of fiscal deficits and the public debt in the industrial democracies. Given the large deficits in many OECD countries in recent years, and the resulting sharp rise in the public debt, it is important to determine the economic and political forces leading to such large deficits. We find only partial support for the "equilibrium approach to fiscal policy", which assumes that tax rates are set over time in order to minimize the excess burden of taxation. Tax rates do not seem to be smoothed, and budget deficits in many countries in recent years appear to be too large to be explained by appeal to transitory increases in government spending. We suggest that in several countries the slow rate at which the post-'73 fiscal deficits were reduced resulted from the difficulties of political management in coalition governments. There is a clear tendency for larger deficits in countries characterized by a by a short average tenure of government and by the presence of many political parties in a ruling coalition
Author | : |
Publisher | : |
Total Pages | : |
Release | : 1988 |
Genre | : |
ISBN | : |
Download Political and Economic Determinants of Budget Deficits in the Industrial Democracies Book in PDF, ePub and Kindle
Author | : Nouriel Roubini |
Publisher | : |
Total Pages | : 39 |
Release | : 1988 |
Genre | : |
ISBN | : |
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Author | : Mr.Alberto Alesina |
Publisher | : International Monetary Fund |
Total Pages | : 48 |
Release | : 1994-08-01 |
Genre | : Business & Economics |
ISBN | : 1451850689 |
Download The Political Economy of Budget Deficits Book in PDF, ePub and Kindle
This paper provides a critical survey of the literature on politico-institutional determinants of the government budget. We organize our discussion around two questions: Why did certain OECD countries, but not others, accumulate large public debts? Why did these fiscal imbalances appear in the last 20 years rather than before? We begin by discussing the “tax smoothing” model and conclude that this approach alone cannot provide complete answers to these questions. We will then proceed to a discussion of political economy models, which we organize in six groups: (i) models based upon opportunistic policymakers and naive voters with “fiscal illusion;” (ii) models of intergenerational redistributions; (iii) models of debt as a strategic variable, linking the current government with the next one; (iv) models of coalition governments; (v) models of geographically dispersed interests; and (vi) models emphasizing the effects of budgetary institutions. We conclude by briefly discussing policy implications.
Author | : Eisaku Ide |
Publisher | : Routledge |
Total Pages | : 286 |
Release | : 2015-03-24 |
Genre | : Political Science |
ISBN | : 1317575873 |
Download Deficits and Debt in Industrialized Democracies Book in PDF, ePub and Kindle
Since the global financial crisis, government debt has soared globally by 40 percent and now exceeds an astonishing $100 trillion. Not all countries, though, have fared the same. Indeed, even prior to the financial crisis, the fiscal fates of countries have been diverging, despite predictions that pressures from economic globalization push countries toward more convergent fiscally conservative policies. Featuring the work of an international interdisciplinary team of scholars, this volume explains patterns of fiscal performance (persistent patterns of budget deficits and government debt) from the 1970s to the present across seven countries – France, Italy, Germany, Japan, South Korea, Sweden, and the United States. Employing a comparative case study approach, seldom employed in studies of fiscal performance, contributions illuminate the complex causal factors often overlooked by quantitative studies and advances our theoretical understanding of fiscal performance. Among other things, the cases highlight the role of taxpayer consent, tax structure, the welfare state, organization of interests, and labor and financial markets in shaping fiscal outcomes. A necessary resource to understand a broader array of factors that shape fiscal outcomes in specific national contexts, this book will reinvigorate the study of fiscal performance.
Author | : Richard E. Wagner |
Publisher | : Edward Elgar Publishing |
Total Pages | : 209 |
Release | : 2012-01-01 |
Genre | : Business & Economics |
ISBN | : 0857934600 |
Download Deficits, Debt, and Democracy Book in PDF, ePub and Kindle
This timely book reveals that the budget deficits and accumulating debts that plague modern democracies reflect a clash between two rationalities of governance: one of private property and one of common property. The clashing of these rationalities at various places in society creates forms of societal tectonics that play out through budgeting. The book demonstrates that while this clash is an inherent feature of democratic political economy, it can nonetheless be limited through embracing once again a constitution of liberty. Not all commons settings have tragic outcomes, of course, but tragic outcomes loom large in democratic processes because they entail conflict between two very different forms of substantive rationality; the political and market rationalities. These are both orders that contain interactions among participants, but the institutional frameworks that govern those interactions differ, generating democratic budgetary tragedies. Those tragedies, moreover, are inherent in the conflict between the different rationalities and so cannot be eliminated. They can, as this book argues, be reduced by restoring a constitution of liberty in place of the constitution of control that has taken shape throughout the west over the past century. Economists interested in public finance, public policy and political economy along with scholars of political science, public administration, law and political philosophy will find this book intriguing.
Author | : Alberto Alesina |
Publisher | : |
Total Pages | : 0 |
Release | : 1994 |
Genre | : Budget |
ISBN | : |
Download The Political Economy of Budget Deficits Book in PDF, ePub and Kindle
This paper provides a critical survey of the literature on politico-institutional determinants of the government budget. We organize our discussion around two questions: Why did certain OECD countries, but not others, accumulate large public debts? Why did these fiscal imbalances appear in the last twenty years rather than before? We begin by discussing the 'tax smoothing' model and conclude that this approach alone cannot provide complete answers to these questions. We will then proceed to a discussion of political economy models, which we organize in six groups: i) Models based upon opportunistic policy makers and naive voters with 'fiscal illusion'; ii) Models of intergenerational redistributions; iii) Models of debt as a strategic variable, linking the current government with the next one; iv) Models of coalition governments; v) Models of geographically dispersed interests; vi) Models emphasizing the effects of budgetary institutions.
Author | : Alberto F. Alesina |
Publisher | : |
Total Pages | : 48 |
Release | : 2006 |
Genre | : |
ISBN | : |
Download The Political Economy of Budget Deficits Book in PDF, ePub and Kindle
This paper provides a critical survey of the literature on politico-institutional determinants of the government budget. We organize our discussion around two questions: Why did certain OECD countries, but not others, accumulate large public debts? Why did these fiscal imbalances appear in the last 20 years rather than before? We begin by discussing the quot;tax smoothingquot; model and conclude that this approach alone cannot provide complete answers to these questions. We will then proceed to a discussion of political economy models, which we organize in six groups: (i) models based upon opportunistic policymakers and naive voters with quot;fiscal illusion;quot; (ii) models of intergenerational redistributions; (iii) models of debt as a strategic variable, linking the current government with the next one; (iv) models of coalition governments; (v) models of geographically dispersed interests; and (vi) models emphasizing the effects of budgetary institutions.We conclude by briefly discussing policy implications.
Author | : Per-Anders Edin |
Publisher | : |
Total Pages | : 18 |
Release | : 1990 |
Genre | : |
ISBN | : |
Download Political determinants of budget deficits Book in PDF, ePub and Kindle
Author | : Nouriel Roubini |
Publisher | : |
Total Pages | : 49 |
Release | : 1989 |
Genre | : Budget deficits |
ISBN | : |
Download Government Spending and Budget Deficits Book in PDF, ePub and Kindle