-
作者：Fatás, A; Mihov, I
作者单位：INSEAD Business School
摘要：Fiscal policy restrictions are often criticized for limiting the ability of governments to react to business cycle fluctuations and, consequently, the adoption of quantitative restrictions is viewed as inevitably leading to increased macroeconomic volatility. In this paper, we use data from 48 US states to investigate how budget rules affect fiscal policy outcomes. Our key findings are that (1) strict budgetary restrictions lead to lower policy volatility (i.e. less aggressive use of discretio...
-
作者：Coto-Martínez, J
作者单位：City St Georges, University of London; University of Greenwich
摘要：In this paper we consider a macroeconomic model in which public capital is a productive input and there is monopolistic competition in the product market. We analyze the effects of a permanent variation in public capital investment both in the short and in the long run. Finally, we show that the optimal provision of public capital under imperfect competition is higher than that associated with the first-best policy. (c) 2004 Elsevier B.V. All rights reserved.
-
作者：Gasparini, LC; Pinto, SA
作者单位：West Virginia University; National University of La Plata
摘要：This paper examines the argument for public provision of certain private goods, like education and health, based oil equality of opportunity by studying the utility possibility frontier of a society in which there is a concerti for the distribution of these goods. A given quality of education or health services call be consumed for free in the public sector, but people can opt-out and purchase their desired quality levels in the private sector. Some of the conclusions are: (i) a pure cash tran...
-
作者：Kessing, SG; Konrad, KA
作者单位：Free University of Berlin
摘要：Restrictions on working hours are more important in countries with a large welfare state. We show that this empirical observation is consistent with the strategic effects of such restrictions in a welfare state in the context of optimal direct taxation in the tradition of Mirrlees (1971) [Mirrlees, J.A., 1971. An exploration in the theory of optimum income taxation. Review of Economic Studies 38, 175-208]. Our results also apply to non-welfarist states that have income redistribution, but not ...
-
作者：Konrad, KA; Spadaro, A
作者单位：Universite PSL; Ecole Normale Superieure (ENS); Ecole des Hautes Etudes en Sciences Sociales (EHESS); Institut Polytechnique de Paris; Ecole des Ponts ParisTech; Centre National de la Recherche Scientifique (CNRS); Free University of Berlin; Universitat de les Illes Balears
摘要：We consider redistributional taxation between people with and without human capital if education is endogenous and if individuals differ in their perceptions about own ability. Those who see their ability as low like redistributive taxation because of the transfers it generates. Those who see their ability as high may also like redistributive taxation because it stops other people receiving education and increases the quasi rents on their own human capital. It is surprising that this rather in...
-
作者：Corneo, G
作者单位：IZA Institute Labor Economics; Free University of Berlin; Leibniz Association; Ifo Institut
摘要：Since objective news coverage is vital to democracy, captured media can seriously distort collective decisions. The Current paper develops a voting model where citizens are uncertain about the welfare effects induced by alternative policy options and derive information about those effects from the mass media. The media might however secretly collude with interest groups in order to influence the public opinion. In the case of voting over the level of a productivity-enhancing public bad, it is ...
-
作者：Ergin, H; Sönmez, T
作者单位：Massachusetts Institute of Technology (MIT); Boston College
摘要：Many school districts in the U.S. use a student assignment mechanism that we refer to as the Boston mechanism. Under this mechanism, a student loses his priority at a school unless his parents rank it as their first choice. Therefore, parents are given incentives to rank high oil their list the schools where the student has a good chance of getting in. We characterize the Nash equilibria of the induced preference revelation game. An important policy implication of our result is that a transiti...
-
作者：Auerbach, AJ
作者单位：University of California System; University of California Berkeley; National Bureau of Economic Research
摘要：In recent years, the United States has evaluated policy changes using a multi-year budget window A budget window that is too short permits the shifting of costs beyond the window's endpoint, while a window that is too long includes years for which current legislation is essentially meaningless, and allows the shifting of fiscal burdens to those whom budget rules are supposed to protect. This paper characterizes the optimal budget window. An appropriately designed budget window eliminates the i...
