WorldWideScience

Sample records for alternative medicinecam fiscal

  1. Well-To-Wheel based fiscal systems. Can a WTW fiscal basis accelerate the introduction of alternative fuels?

    International Nuclear Information System (INIS)

    This report explores to which extent alternative, (partially) Well-To-Wheel based fiscal systems may accelerate the introduction of low-carbon fuels and vehicles. The design of two alternative fiscal systems is described, as well as the challenges that any fiscal system must meet. The alternative systems are compared to the existing fiscal system with regard to (1) the extent to which they honour the 'polluter pays' principle, (2) the extent to which they are expected to accelerate the introduction of (alternative) gaseous fuels, liquid biofuels, and zero-emission vehicles, (3) their expected impact on the vehicle stock, and (4) a number of (undesired) side-effects. The results show that the alternative systems provide a stronger fiscal support for some alternative fuels and vehicles, but not for all.

  2. The advantage of international fiscal cooperation under alternative monetary regimes

    DEFF Research Database (Denmark)

    Jensen, Henrik

    1996-01-01

    We consider the strategic interplay between international monetary and fiscal cooperation in a world of interdependent economies. Motivated by the ongoing discussion of monetary unification of Europe, focus is on monetary cooperation, and in particular how its performance is altered by the...... introduction of fiscal (tax) cooperation. Our main result is that fiscal cooperation may be disadvantageous when monetary cooperation lacks credibility with private sectors. On the other hand, fiscal cooperation under a rule based monetary regime is always advantageous...

  3. "Inflationary and Distributional Effects of Alternative Fiscal Policies: An Augmented Minskyan-Kaleckian Model"

    OpenAIRE

    Pavlina R. Tcherneva

    2012-01-01

    This paper augments the basic Post-Keynesian markup model to examine the effects of different fiscal policies on prices and income distribution. This is an approach à la Hyman P. Minsky, who argued that in the modern era, government is both 'a blessing and a curse', since it stabilizes profits and output by imparting an inflationary bias to the economy, but without stabilizing the economy at or near full employment. To build on these insights, the paper considers several distinct functions of...

  4. Monetary Science, Fiscal Alchemy

    OpenAIRE

    Eric M. Leeper

    2010-01-01

    Monetary policy decisions tend to be based on systematic analysis of alternative policy choices and their associated macroeconomic impacts: this is science. Fiscal policy choices, in contrast, spring from unsystematic speculation, grounded more in politics than economics: this is alchemy. In normal times, fiscal alchemy poses no insurmountable problems for monetary policy because fiscal expectations can be extrapolated from past fiscal behavior. But normal times may be coming to an end: aging...

  5. Federal Alternative Fuel Program Light Duty Vehicle Operations. Second annual report to Congress for fiscal year 1992

    Energy Technology Data Exchange (ETDEWEB)

    1993-07-01

    This annual report to Congress details the second year of the Federal light duty vehicle operations as required by Section 400AA(b)(1)(B) of the Energy Policy and Conservation Act as amended by the Alternative Motor Fuels Act of 1988, Public Law 100-494. In 1992, the Federal alternative fuel vehicle fleet expanded significantly, from the 65 M85 (85 percent methanol and 15 percent unleaded gasoline) vehicles acquired in 1991 to an anticipated total of 3,267 light duty vehicles. Operating data are being collected from slightly over 20 percent, or 666, of these vehicles. The 601 additional vehicles that were added to the data collection program in 1992 include 75 compressed natural gas Dodge full-size (8-passenger) vans, 25 E85 (85 percent denatured ethanol and 15 percent unleaded gasoline) Chevrolet Lumina sedans, 250 M85 Dodge Spirit sedans (planned to begin operation in fiscal year 1993), and 251 compressed natural gas Chevrolet C-20 pickup trucks. Figure ES-1 illustrates the locations where the Federal light duty alternative fuel vehicles that are participating in the data collection program are operating. The primary criteria for placement of vehicles will continue to include air quality attainment status and the availability of an alternative fuel infrastructure to support the vehicles. This report details the second year of the Federal light duty vehicle operations, from October 1991 through September 1992.

  6. Fiscal decentralization and fiscal discipline

    OpenAIRE

    Çakır, Nida

    2006-01-01

    Cataloged from PDF version of article. In this thesis, the effects of fiscal procedures, fiscal centralization and fiscal decentralization, on fiscal discipline are analyzed in a theoretical framework. A model of two optimization problems is established: central government’s optimization problem and local government’s optimization problem representing the two fiscal procedures; fiscal centralization and fiscal decentralization respectively. Comparative static analysis is per...

  7. Fiscal Federalism

    DEFF Research Database (Denmark)

    Feng, Xingyuan; Ljungwall, Christer; Guo, Sujian; Wu, Alfred M.

    2013-01-01

    critical review of the theories on fiscal federalism, we develop a refined prototype of fiscal federalism. The model shows that quasi-traditional fiscal federalism is a much closer reality in China, while we argue that the refined fiscal federalism should be the direction of future reform in China....

  8. Fiscal Transfers and Fiscal Sustainability

    OpenAIRE

    Potrafke, Niklas; Reischmann, Markus

    2014-01-01

    We examine whether US and German state governments pursue sustainable fiscal policies taking into account fiscal transfers. Using panel data techniques we investigate whether the debt-to-GDP ratio had a positive influence on the primary surplus (Bohn-model). We show that including/excluding fiscal transfers changes the results. If fiscal transfers are not included in the primary surplus, the test results do not indicate that the US and German state governments pursued sustainable fiscal polic...

  9. Energy fiscality

    International Nuclear Information System (INIS)

    This report gives a general presentation of energy fiscality in France: taxes on energy, mechanisms of stabilization of government's fiscal incomes in case of significant oil prices change, some particularities of energy taxes, the fiscality according to the energy content and according to the carbon content. The fiscality of petroleum products (automotive fuels and other products), natural gas and electricity in France is presented in appendixes together with a comparison of the fiscality in use in the rest of Europe (automotive fuels, domestic fuels, natural gas and electricity for domestic use and for industrial use). (J.S.)

  10. Electronic ways for the submission of fiscal declarations

    OpenAIRE

    Mihai ANTONESCU; Buziernescu, Radu

    2009-01-01

    The unprecedented development of information technology in the past few years has made possible the transmission of information, inclusively fiscal information, by electronic means of transmission at distance. Tax payers can use the method of submission of fiscal declarations by electronic means of transmission at distance as alternative method of deposition of fiscal declarations. For the submission of fiscal declarations by electronic means of transmission at distance, tax payers should use...

  11. Fiscal Transparency and Procyclical Fiscal Policy

    DEFF Research Database (Denmark)

    Andersen, Asger Lau; Nielsen, Lasse Holbøll Westh

    spending. The introduction of fiscal transparency generates two new predictions: 1) the procyclical bias in fiscal policy arises only in good times; and 2) a higher degree of fiscal transparency reduces the bias in good times. We find solid empirical support for both predictions using data on both OECD...

  12. Fiscal Federalism

    Directory of Open Access Journals (Sweden)

    Tatiana Mosteanu

    2007-06-01

    Full Text Available The central budget of a country collects only a fraction of the total fiscal revenues and executes only o fraction of the national public expenditures, the rest of the revenues and expenditures becoming the responsability of subnational governments. The economist Charles Tiebout developed a theoretical model which although makes an imperfect description of the reality, shows that people’s mobility is being influenced by tax rates and the amount of state/local expenditures. Thus, he suggests that the degree of responsibility that can be appointed to the local budgets should subscribe to the tax – benefits ratio, the extend of the positive externalities and the scale economies of public goods. Also, the issue of revenues distribution among communities is being raised, being identified three kinds of grants used by the public authorities: matching grants, block grants and conditional block grants. In the concept of fiscal federalism there can be found a limited analogy between national public finance theory and international public finance theory, with the international taxation as the pivotal element.

  13. Societal Aging: Implications for Fiscal Policy

    OpenAIRE

    Auerbach, Alan J

    2012-01-01

    This paper considers implications of population aging for the conduct of fiscal policy, grouping the issues into four areas, focusing on the impact of aging on: (1) the size of government budget imbalances; (2) the composition of government spending and government budget flexibility; (3) the composition of tax collections and the desirability of alternative tax systems; and (4) the effectiveness of fiscal policy as a tool for stabilization. Societal aging puts considerable stress put on publi...

  14. Fiscal Shocks in an Efficiency Wage Model

    OpenAIRE

    Craig Burnside; Martin Eichenbaum; Fisher, Jonas D. M.

    2000-01-01

    This paper illustrates a particular limited information strategy for assessing the empirical plausibility of alternative quantitative general equilibrium business cycle models. The basic strategy is to test whether a model economy can account for the response of actual economy to an exogenous shock. Here we concentrate on the response of aggregate hours worked and real wages to a fiscal policy shock. The fiscal policy shock is identified with the dynamic response of government purchases and a...

  15. Expansionary fiscal contractions

    DEFF Research Database (Denmark)

    Bergman, Ulf Michael; Hutchison, Michael

    2010-01-01

    The Expansionary Fiscal Contraction (EFC) hypothesis predicts that a major fiscal consolidation leads to an economic expansion under certain circumstances. We test this hypothesis, and the implied non-linear responses of the economy to large and small changes in fiscal policy, using data from the...... that the exogenous fiscal contraction in Denmark was a credible regime shift and, together with other reforms undertaken at the time, increased both private consumption and aggregate output....

  16. Identifying Fiscal Inflation

    OpenAIRE

    De Graeve, Ferre; Queijo von Heideken, Virginia

    2013-01-01

    Fiscal theorists warn about the risk of future inflation as a consequence of current fiscal imbalances in the US. Because actual inflation remains historically low and data on inflation expectations do not corroborate such risks, warnings for fiscal inflation are often ignored in policy and academic circles. This paper shows that a canonical NK- DSGE model enables identifying an anticipated component of inflation expectations that is closely related to fiscal policy. Estimation results sugges...

  17. Activist Fiscal Policy

    OpenAIRE

    Auerbach, Alan J.; William G. Gale; Harris, Benjamin H.

    2010-01-01

    During and after the "Great Recession" that began in December 2007, the U.S. federal government enacted several rounds of activist fiscal policy. In this paper, we review the recent evolution of thinking and evidence regarding the effectiveness of activist fiscal policy. Although fiscal interventions aimed at stimulating and stabilizing the economy have returned to common use, their efficacy remains controversial. We review the debate about the traditional types of fiscal policy interventions...

  18. Budgeting for fiscal space

    OpenAIRE

    Allen Schick

    2009-01-01

    Fiscal space refers to the financial resources available to a government for policy initiatives through the budget and related decisions. This article reviews the factors that contribute to the shrinkage of fiscal space, considers methods for protecting or enlarging it, and reflects on how budgeting may be recast into a process for explicitly allocating scarce fiscal space.

  19. THEORETICAL CONSIDERATIONS REGARDING THE AUTOMATIC FISCAL STABILIZERS OPERATING MECHANISM

    Directory of Open Access Journals (Sweden)

    Gondor Mihaela

    2012-07-01

    Full Text Available This paper examines the role of Automatic Fiscal Stabilizers (AFS for stabilizing the cyclical fluctuations of macroeconomic output as an alternative to discretionary fiscal policy, admitting its huge potential of being an anti crisis solution. The objectives of the study are the identification of the general features of the concept of automatic fiscal stabilizers and the logical assessment of them from economic perspectives. Based on the literature in the field, this paper points out the disadvantages of fiscal discretionary policy and argue the need of using Automatic Fiscal Stabilizers in order to provide a faster decision making process, shielded from political interference, and reduced uncertainty for households and business environment. The paper conclude about the need of using fiscal policy for smoothing the economic cycle, but in a way which includes among its features transparency, responsibility and clear operating mechanisms. Based on the research results the present paper assumes that pro-cyclicality reduces de effectiveness of the Automatic Fiscal Stabilizer and as a result concludes that it is very important to avoid the pro-cyclicality in fiscal rule design. Moreover, by committing in advance to specific fiscal policy action contingent on economic developments, uncertainty about the fiscal policy framework during a recession should be reduced. Being based on logical analysis and not focused on empirical, contextualized one, the paper presents some features of AFS operating mechanism and also identifies and systematizes the factors which provide its importance and national individuality. Reaching common understanding on the Automatic Fiscal Stabilizer concept as a institutional device for smoothing the gap of the economic cycles across different countries, particularly for the European Union Member States, will facilitate efforts to coordinate fiscal policy responses during a crisis, especially in the context of the fiscal

  20. Fiscal sustainability and fiscal policy targets

    DEFF Research Database (Denmark)

    Andersen, Torben M.

    Analyses of fiscal sustainability have become integral parts of fiscal policy planning due to high debt levels and projected demographic changes. A popular metric by which to evaluate sustainability gaps is the so-called S2 metric given as the permanent change in the primary budget balance...... (relative to GDP) needed to meet the intertemporal budget constraint. While a very useful metric it also suffers from some problems, and the paper discusses some of the problems with this metric as a way to assess fiscal sustainability problems. A particular important issue is the extent to which the S2...

  1. The Submission of Fiscal Declarations by Electronic Means of Transmission at Distance

    OpenAIRE

    Mihai ANTONESCU; Ligia ANTONESCU

    2008-01-01

    The unprecedented development of information technology in the past few years has made possible the transmission of information, inclusively fiscal information, by electronic means of transmission at distance. Tax payers can use the method of submission of fiscal declarations by electronic means of transmission at distance as alternative method of deposition of fiscal declarations. The date of deposition of a fiscal declaration is the date of its registration on the site of the Minis...

  2. Managing fiscal risk in Bulgaria

    OpenAIRE

    Brixi, Hana Polackova; Shatalov, Sergei; Zlaoui, Leila

    2000-01-01

    To understand the fiscal position of a country, contingent liabilities and other sources of fiscal risk need to be considered. The authors develop a framework to assess and manage fiscal risk in Bulgaria. Bulgaria's Currency Board Arrangement has effectively imposed fiscal discipline, but leaves only limited room to accommodate potential fiscal shocks. Through risks embedded in the portfol...

  3. Fiscal Multipliers in Recessions

    OpenAIRE

    Canzoneri, Matthew; Collard, Fabrice; Dellas, Harris; Diba, Behzad

    2015-01-01

    The Great Recession, and the fiscal response to it, has revived interest in the size of fiscal multipliers. Standard business cycle models have difficulties generating multipliers greater than one. And they also cannot produce any significant state-dependence in the size of the multipliers over the business cycle. In this paper we employ a variant of the Curdia-Woodford model of costly financial intermediation and show that fiscal multipliers can be strongly state dependent in a countercyclic...

  4. Fiscal Projections for Pension System of Belarus

    OpenAIRE

    World Bank

    2011-01-01

    This note attempts to describe the pension system in Belarus including its fiscal performance, redistributive aspects benefit levels and benefit eligibility conditions. The note also discusses the challenging demographic environment which Belarus pension system is expected to face in the future and explores alternative paths that the system could take in this environment. Some reform scena...

  5. Fiscal Decentralization and Economic Development

    OpenAIRE

    1993-01-01

    Discusses fiscal decentralization and economic development in developed and developing countries. Explores historical trends in fiscal centralization and puts them in context of the developing countries.

  6. Coordinating Monetary and Fiscal Policies in an Open Economy

    Directory of Open Access Journals (Sweden)

    Graeme Chamberlin

    2015-06-01

    Full Text Available This paper looks at the possible coordination problems that might result when monetary and fiscal policies are operated by separate authorities. In an open economy the feedback from movements in the exchange rate to the rate of consumer price inflation means fiscal policy can have a non-neutral effect on output even if monetary policy acts to keep inflation at target. This might encourage governments to run an overly expansive fiscal policy at the expense of weakness in the tradable sector. Preventing this scenario might require the monetary authority to target a measure of domestically-generated inflation or have a separate target for the exchange rate. Alternatively the government could delegate the assessment of policy against its fiscal rules to an independent fiscal council.

  7. Tax incentives in fiscal federalism

    DEFF Research Database (Denmark)

    Kelders, Christian; Köthenbürger, Marko

    2010-01-01

    Models of fiscal federalism rarely account for the efficiency implications of intergovernmental fiscal ties for federal tax policy. This paper shows that fiscal institutions such that federal tax deductibility, vertical revenue-sharing, and fiscal equalization (being common features of existing...

  8. Intergovernmental Fiscal Relations In China

    OpenAIRE

    Roy W. Bahl; Wallich, Christine

    2013-01-01

    The choice of the"right"fiscal relationship between central, provincial, and local governments depends on how a government weighs the benefits of decentralized economic development policies against the costs of having less effective central fiscal management. Three strong forces justify more fiscal centralization in China's highly decentralized fiscal system. First, Bouts of inflation and recurrent fiscal deficits can be seen as calling for more central control over the budget. Second, Reform...

  9. COMMON FISCAL POLICY

    Directory of Open Access Journals (Sweden)

    Gabriel Mursa

    2014-08-01

    Full Text Available The purpose of this article is to demonstrate that a common fiscal policy, designed to support the euro currency, has some significant drawbacks. The greatest danger is the possibility of leveling the tax burden in all countries. This leveling of the tax is to the disadvantage of countries in Eastern Europe, in principle, countries poorly endowed with capital, that use a lax fiscal policy (Romania, Bulgaria, etc. to attract foreign investment from rich countries of the European Union. In addition, common fiscal policy can lead to a higher degree of centralization of budgetary expenditures in the European Union.

  10. Fiscal reaction under endogenous structural changes in Brazil

    Directory of Open Access Journals (Sweden)

    Andrei G. Simonassi

    2014-01-01

    Full Text Available Regarding the importance of fiscal policy in smoothing the impact of shocks such as the international financial and economic crises, the paper analyzes the sustainability of the Brazilian fiscal policy by taking into consideration the possibility of multiple endogenous structural breaks on the coefficients of government reaction function. From monthly data in the period 1991–2008, tests on the reliable estimates dictate the occurrence of structural change in May 1994, and another in February 2003. There has been a situation of fiscal solvency in Brazil, but only from May 1994 the hitherto innocuous actions of government to formulate policies on public debt turn out to be significant, as it rose twofold after February 2003. This reinforces the existence of a more flexible alternative to implement strategic policy in Brazil, if an eventual alternative for increasing public spending is a way of hindering the effects of international financial crises without compromising the fiscal targets.

  11. Fiscal Year 2015 Budget

    Data.gov (United States)

    Montgomery County of Maryland — This dataset includes the Fiscal Year 2015 Council-approved operating budget for Montgomery County. The dataset does not include revenues and detailed agency budget...

  12. Fiscal Multipliers in Ukraine

    OpenAIRE

    Pritha Mitra; Tigran Poghosyan

    2015-01-01

    Amid renewed crisis, falling tax revenues, and rising debt, Ukraine faces serious fiscal consolidation needs. Durable fiscal adjustment can support economic confidence and rebuild buffers but what is its overall impact on growth? How effective are revenue versus spending instruments? Does current or capital spending have a larger impact? Applying a structural vector autoregressive model, this paper finds that Ukraine’s near-term revenue and spending multipliers are well below one. In the me...

  13. Fiscal Multipliers for India.

    OpenAIRE

    Bose, Sukanya; Bhanumurthy, N R

    2013-01-01

    This paper attempts to present a framework for the estimation of fiscal multipliers for the Indian economy in the structural macroeconomic modelling tradition. Empirical estimates of short-run multipliers are obtained by giving shocks to a range of fiscal instruments - expenditures and taxes. As per our estimates, the values of capital expenditure multiplier, transfer payments multiplier and other revenue expenditure multiplier are 2.45, 0.98, and 0.99, respectively, while the tax multipliers...

  14. Fiscal determinants of empowerment

    OpenAIRE

    Raich, Uri

    2005-01-01

    Empowerment of local governments and citizens is a primary object of decentralization. Using the analytic lens of empowerment, the author explores the nature of decentralized governance and how this type of structure is likely to be more or less empowering. His primary concern is fiscal decentralization, specifically the association between fiscal determinants and the degree of empowerment of both citizens and local governments. The author's main argument is that both the revenue and expendit...

  15. INSTITUTIONS AND FISCAL SUSTAINABILITY

    OpenAIRE

    Rose, Shanna

    2010-01-01

    As budgetary commitments outpace current revenues and long-term liabilities balloon, the fiscal sustainability of state and local governments is a matter of mounting concern. Over the years, these governments have experimented with a wide variety of political and fiscal institutions, ranging from direct democracy to balanced budget rules, with the goal of slowing the growth of government and increasing financial responsibility. This article synthesizes the related empirical literature, summar...

  16. Fiscal and monetary policies in complex evolving economies

    OpenAIRE

    Fagiolo G.; Treibich T.G.; Roventini A.; Napoletano M.; Dosi G.

    2014-01-01

    In this paper we explore the effects of alternative combinations of fiscal and monetary policies under different income distribution regimes. In particular, we aim at evaluating fiscal rules in economies subject to banking crises and deep recessions. We do so using an agent-based model populated by heterogeneous capital- and consumption-good firms, heterogeneous banks, workers/consumers, a central bank and a government. We show that the model is able to reproduce a wide array of macro and mic...

  17. New fiscal crisis Nueva crisis fiscal

    OpenAIRE

    Giraldo Giraldo César

    1996-01-01

    The fiscal deficit in Latin America is currently caused by the external and internal debt, and the fact that economic authorities have lost the ability to manage an important part of macroeconomic policy as a result of the process of decentralization. Along with less macroeconomic control, destabilizing factors increase due to the greater mobility of international financial markets, where any changein signals provokes abrupt and massive movements of capital in favor of or against a country. T...

  18. A benchmark for the fiscal theory of the price level in a monetary union

    OpenAIRE

    Brede, Maren

    2014-01-01

    This paper derives restrictions on monetary and fiscal policies for determinate equilibria in a two-country monetary union with autarkic members. It finds that a central bank following the Taylor principle may not be sufficient for determinacy unless accompanied by one 'active' fiscal authority in the sense of Leeper (1991). Alternatively, both fiscal authorities can be 'active' while the central bank abandons the Taylor principle. The two determinate equilibria have significantly different i...

  19. THE ESSENCE OF FISCAL MANAGEMENT

    OpenAIRE

    Carmen Comaniciu

    2008-01-01

    The existence of fiscal management determine the identification of the essential coordinates of it: the main objective; the sphere of action; essential characteristics; fundamental values; the main function; principles and legities. The essence of fiscal management represent its functions and on the basis of conceiving and exercising management from fiscality field resides an aggregate of principles. In this paper we will try to define the fiscal management, to identify the fundamental and sp...

  20. Fiscal Transparency in Transition Economies

    OpenAIRE

    Jens Hölscher; Mariusz Jarmuzek; Roman Matousek; Eva Katalin Polgar

    2006-01-01

    Fiscal transparency became a topic of lively public and academic debate in the aftermath of the Mexican and Asian financial crises. The concept of fiscal transparency is, however, largely of a qualitative nature and is therefore something of a challenge to measure. This paper proposes an index of fiscal transparency that comprises various aspects of fiscal policy formulation, such as medium-term budgeting and analysis, accounting and data quality, off-budgetary activity, intergovernmental rel...

  1. Evaluating fiscal equalization in Indonesia

    OpenAIRE

    Hofman, Bert; Kadjatmiko; Kaiser, Kai; Suharnoko Sjahrir, Bambang

    2006-01-01

    This paper presents a methodology to evaluate fiscal decentralization focusing on the potential mis-targeting of intergovernmental fiscal equalization transfers. The approach builds on an explicit comparison and the summary measurement of different (horizontal) allocation distributions across states or localities. Whereas formula-based fiscal transfers have the merit of being transparent and promoting revenue predictability in fiscal decentralization, in practice, two challenges emerge: (1) W...

  2. The Design of Fiscal Adjustments

    OpenAIRE

    Alesina, Alberto Francesco; Ardagna, Silvia

    2013-01-01

    This paper offers three results. First, in line with the previous literature, we confirm that fiscal adjustments based mostly on the spending side are less likely to be reversed. Second, spending based fiscal adjustments have caused smaller recessions than tax based fiscal adjustments. Finally, certain combinations of policies have made it possible for spending based fiscal adjustments to be associated with growth in the economy even on impact rather than with a recession. Thus, expansionary ...

  3. Fiscal Shocks and Fiscal Risk Management

    OpenAIRE

    Lloyd-Ellis, H.; Xiaodong Zhu

    1998-01-01

    We use the returns on a set of international financial securities to identify exogenous shocks to the Canadian federal surplus. We find that a large portion of the variation in the surplus can be replicated by a linear combination of these returns and that the rising debt observed in the 1980s and 1990s was a result of adverse exogenous shocks and a delayed response by the government to these shocks. We develop a formal framework to evaluate the potential gains from a fiscal risk management s...

  4. New fiscal crisis Nueva crisis fiscal

    Directory of Open Access Journals (Sweden)

    Giraldo Giraldo César

    1996-06-01

    Full Text Available The fiscal deficit in Latin America is currently caused by the external and internal debt, and the fact that economic authorities have lost the ability to manage an important part of macroeconomic policy as a result of the process of decentralization. Along with less macroeconomic control, destabilizing factors increase due to the greater mobility of international financial markets, where any changein signals provokes abrupt and massive movements of capital in favor of or against a country. This problem is aggravated by the dismantling of the principal regulations, especially those relating to exchange controls, foreign investment, and international trade. Fiscal policyends up defending the stability of the main economic variables, in anuncertain and unpredictable context determined by an autonomous finance capital. It defends the stability of three key prices: inflation, currency, and interest rateo An abrupt change in any of these may depreciate the real value of financial assets, with which financial wealth would disappear like foam.El déficit fiscal en América Latina se origina actualmente en las deuda externa e interna, y en que la autoridad económica ha perdido el manejo de una parte importante de la política macroeconómica como resultado del proceso de descentralización. A la par del menor control macroeconómico, los factores desestabilizadores aumentan por la mayor movilidad de mercados financieros internacionales, donde cualquier cambio en las señales suscita movimientos de capital abruptos y masivos en favor o en contra de un país. Este problema se agrava con el desmonte de las principales regulaciones, en especial a las referidas al control cambiario, la inversión extrnajera y el comercio internacional. La política fiscal termina defendiendo la estabilidad de las principales variables macroeconómicas, en un contexto incierto e impredecible determinado por un capital financiero autónomo. Defiende la estabilidad de tres

  5. Fiscal Forecasting in Italy

    OpenAIRE

    Carabotta, Laura

    2015-01-01

    [eng] The thesis “Fiscal forecasting in Italy” is comprised of three main chapters in which is analyzed, from an empirical point of view, several issues related to public finance forecasts, with an application to Italy. Chapter II, “Accuracy of fiscal forecasts in Italy” is focused on one of the most important aspects of the new Treaty: it requires that the decisions and recommendations taken by the European Commission are no longer be based on outcomes but on forecasts. In this chapter, I e...

  6. Sustaining Fiscal Incentives

    Institute of Scientific and Technical Information of China (English)

    2010-01-01

    The current round of China’s economic development is expected to clear up in 2010, the final year of the country’s 11th Five-Year Plan (2006-10) that will pave the way for the next wave of economic growth. This year’s fiscal policies should follow several guidelines to lay a solid foundation for the stable and sustainable growth of the economy, writes Jia Kang, Director of the Research Institute for Fiscal Science under the Ministry of Finance, in a recent Guangming Daily article. Edited excerpts follow

  7. Sustaining Fiscal Incentives

    Institute of Scientific and Technical Information of China (English)

    2010-01-01

    @@ The current round of China's economic development is expected to clear up in 2010,the final year of the country's 11th Five-Year Plan(2006-10)that will pave the way for the next wave of economic growth.This year's fiscal policies should follow several guidelines to lay a solid foundation for the stable and sustainable growth of the economy,writes Jia Kang,Director of the Research Institute for Fiscal Science under the Ministry of Finance,in a recent Guangming Daily article.Edited excerpts follow:

  8. Global Fiscal Consolidation

    OpenAIRE

    McKibbin, Warwick J.; Andrew B Stoeckel

    2011-01-01

    The build up in government debt in response to the ‘great recession’ has raised a number of policy dilemmas for individual countries as well as the world as a whole. Where the government fiscal stimulus was seen as necessary to restore confidence to markets and stimulate deteriorating economies in the aftermath of the ‘great recession’ by 2010 the massive fiscal stimulus programs and associated run-up in debt had, for many economies, become a confidence sapping exercise. This need for a chang...

  9. FISCAL MANAGEMENT OF ROMANIAN COMPANIES

    Directory of Open Access Journals (Sweden)

    Maria Zenovia GRIGORE

    2010-12-01

    Full Text Available This paper is aimed to analyze the taxation influence upon the company’s activity. Fiscal management is integrated into the company management and must therefore be defined in terms of general policy objectives of the company. The efficiency of fiscal policy is an essential element of fiscal management. This can be achieved directly (through the tax law that includes measures of fiscal incitement or indirectly (when the tax system offers a number of tax deductions for expenses, the possibility to cover losses from previous financial periods, the limitation of deductible expenses according to earnings before taxes etc.. The two forms of efficiency of fiscal policy are placed in the calculation of relations between fiscal management, strategic planning, tax risk and accounting. Fiscal policy should aim at the company’s research and to achieve optimal cost of taxation. This paper analyses the methods that the companies dispose of in order to reduce this cost.

  10. The Fiscal Placebo

    Directory of Open Access Journals (Sweden)

    Hana Lipovská

    2015-12-01

    Full Text Available Discretionary fiscal policy is associated with long time lags that, according to many authors, prevent its efficient implementation during economic crises. Implementation lags, i.e. the lag between the day on which economic policymakers decide on a specific form of response to the actual economic situation and the day on which a relevant law takes effect, have the signalling function. In this article we analyse the implementation lag in the discretionary fiscal policy in the Czech Republic during economic crises. First, we present arguments according to which time lags are pro-cyclic and thus they prevent implementation of the discretionary fiscal policy. We will verify the grounds behind the arguments concerning the Czech economy. Furthermore, we focus on the reasons due to which the implementation lag may be neutral as concerns the economic cycle. In the third part, we present our own concept of fiscal placebo pursuant to which the implementation lag may have negative, neutral, or even positive impacts on the actual economy. We have demonstrated, that anti-crisis laws have taken effect, with a single exception, always only after the end of the recession to which they were supposed to react and the volume of the funds used by the government to achieve stabilization is relatively low.

  11. US fiscal regimes and optimal monetary policy

    NARCIS (Netherlands)

    K. Mavromatis

    2014-01-01

    Fiscal policy in the US has been documented to have been the leading authority in the ‘60s and the ‘70s (active fiscal policy), while committing to make the necessary fiscal adjustments following Volcker’s appointment (passive fiscal policy). Moreover, while passive, US fiscal policy has at times fl

  12. Fiscal institutions, fiscal policy and sovereign risk premia

    OpenAIRE

    Hallerberg, Mark; Wolff , Guntram B.

    2006-01-01

    We investigate the effect of fiscal institutions such as the strength of the finance minister in the budget process and deficits on interest spreads contained in bond yields of the countries now belonging to the Eurozone. Deficits significantly increase risk premia measured by relative swap spreads. The effect of deficits is significantly lower under EMU. This effect partly results from neglecting the role of fiscal institutions. After controlling for institutional changes, fiscal policy rema...

  13. Fiscal institutions, fiscal policy and sovereign risk premia in EMU

    OpenAIRE

    Hallerberg, Mark; Wolff , Guntram B.

    2008-01-01

    We investigate the effect of fiscal institutions such as the strength of the finance minister in the budget process and deficits on interest rate spreads of Eurozone countries. Deficits significantly increase risk premia measured by relative swap spreads. The effect of deficits is significantly lower under EMU. This effect partly results from neglecting the role of fiscal institutions. After controlling for institutional changes, fiscal policy remains a significant determinant of risk premia ...

  14. La sociologie fiscale.

    OpenAIRE

    LEROY Marc

    2009-01-01

    La sociologie fiscale questionne les relations fondamentales entre l’impôt, l’Etat et la société. Cet article présente une revue de la littérature et des problématiques envisagées dans leur aspect sociopolitique. Plusieurs représentations sociales sont considérées : l’impôt-contribution, l’impôt-échange, et l’impôt-obligation/contrainte/tribut, mais l’élaboration d’une typologie de l’Etat fiscal met l’accent sur l’impôt-contribution payé par le citoyen qui est capable d’altruisme pour finance...

  15. Fiscal effects of aid

    OpenAIRE

    Timmis, Emilija

    2015-01-01

    This thesis analyses fiscal effects of aid, first of health aid on health spending for a sample of developing countries and then broadly for Ethiopia and Tanzania. Particular attention is paid to data quality and the severe difficulties in achieving a reliable disaggregation of aid into its on-budget and off-budget components. The first essay assesses the sensitivity of estimated health aid fungibility to how the missing data (often considerable) are treated and explores a novel (at least in...

  16. Mexico's Fiscal Crisis

    OpenAIRE

    Looney, R.E.

    1987-01-01

    Socio-Economic Planning Sciences, vol. 21, no.6, 1987. Refereed Journal Article Mexico's current crisis has its origins in a number of structural conditions that developed in the 1970s. This paper examines one of these structural impediments, the country's fiscal disequilibrium. An empirical analysis of the country's tax structure indicates that there is ample scope for major tax reforms geared to introducing more responsiveness into the country's tax collection system. Given t...

  17. FISCAL RULES AND PUBLIC INVESTMENT

    OpenAIRE

    Perée, Eric; Välilä, Timo

    2005-01-01

    This paper examines the link between fiscal rules and public investment both normatively and empirically. We first review the arguments for and against including public investment spending in a fiscal deficit rule. We then seek to assess the determinants of public investment, with a special focus on the role of the fiscal rules embodied in EMU. We conclude that there are practical difficulties precluding the introduction of a 'golden rule' and that there is virtually no evidence that EMU woul...

  18. Fiscal equalization under political pressures

    OpenAIRE

    Alejandro Esteller-Moré; Umberto Galmarini; Leonzio Rizzo

    2015-01-01

    We examine the design of fiscal equalization transfers aimed at inter-regional redistribution in a setting in which special interest groups distort the fiscal policies of local governments. Equity always calls for tax-base equalization while efficiency calls for tax-base equalization of fiscal capacities backed by strong lobby groups and for tax-revenue equalization of those backed by weak lobby groups. Hence, it is optimal to rely only on tax-base equalization if the special interest groups ...

  19. Is Catalonia being fiscally mistreated?

    OpenAIRE

    Angel de la Fuente

    2014-01-01

    This note critically appraises the claim that Catalonia is being fiscally mistreated, both in terms of the financing of its regional government and in terms of its net fiscal balance with the Spanish Central Government. Its conclusion is that nationalist complaints regarding these matters are not well founded. Looking at the available data, Catalonia's fiscal situation is similar to that of other regions with similar levels of income per capita relative to the national average, both within Sp...

  20. Fiscal Limits in Advanced Economies

    OpenAIRE

    Eric M. Leeper; Walker, Todd B

    2011-01-01

    Aging populations in advanced economies are placing ever-increasing demands on government spending in the form of old-age benefits. Economies that have promised substantially more benefits than they have made provision to finance are heading into a prolonged era of fiscal stress. Unresolved fiscal stress raises the possibility that the economies will hit their fiscal limits where taxes and spending no longer adjust to stabilize debt. In such economies, monetary policy may lose its ability to ...

  1. Intergovernmental fiscal relations, 'Argentine Style'

    OpenAIRE

    Gordin, Jorge P.

    2006-01-01

    This study assesses the explanatory power of two competing views about intergovernmental fiscal transfers; one emphasizing the traditional neoclassical approach to federal-subnational fiscal relations and the other suggesting that transfers are contingent on the political fortunes and current political vulnerability of each level of government. These models are tested using data from Argentina, a federation exhibiting one of the most decentralised fiscal systems in the world and severe imbala...

  2. Accountability report - fiscal year 1997

    International Nuclear Information System (INIS)

    This document contains the US NRC's accountability report for fiscal year 1997. Topics include uses of funds, financial condition, program performance, management accountability, and the audited financial statement

  3. PURSUING EUROPEAN DEBT CRISIS: FISCAL DISCIPLINE

    OpenAIRE

    Zafer SEZGIN

    2013-01-01

    Maastricht Treaty accepts some criteria for securing fiscal and monetary discipline. Fiscal discipline criteria consist of budget deficit and public borrowing criteria. On monitoring these criteria it is obvious that fiscal discipline is not provided in recent years. There is one monetary policy but lots of fiscal policies at EU. This effects efforts that aim re-constituting fiscal discipline negatively. So economic crisis increases. Monetary policy can not be effective without fiscal policy....

  4. "Fiscal Illusion Causes Fiscal Delusion - Please Be Careful!"

    Science.gov (United States)

    Mourao, Paulo

    Although fiscal illusion was first articulated by Puviani (1903), it is a current issue, and its consequences are rather serious, as shown in this paper. Fiscal illusion enlarges the public sector but it can, by itself, be a considerable threat to the trust between the State and its citizens, ultimately promoting serious instability in economic cycles and in democratic institutions.

  5. CAPITALIZATION OF FISCAL AND ACCOUNTING INTERFERENCES FOR FISCAL OPTIMIZATION

    Directory of Open Access Journals (Sweden)

    Dănuţ CHILAREZ

    2014-06-01

    Full Text Available As economic entities in Romania are still in a relationship of interdependence between the accounting interest and the fiscal one, it makes the application of one or another accounting treatment under different circumstances on the transactions specific to the activity have a certain influence on the information released by the financial statements, but also on the tax bases and hence on the fiscal cost. This article argues that the sustainability and performance of a business requires, in addition to the effective management of the economic and financial resources in order to maximise performance and to ensure the cash flows, that the management must take into account both the good informing of the information users through the financial statements, and proper management of the fiscal implications in order to record a fiscal cost as low as possible while respecting the legal framework so that the fiscal risk is avoided or reduced as much as possible.

  6. 75 FR 22689 - Fiscal Service

    Science.gov (United States)

    2010-04-29

    ... Fiscal Service Surety Companies Acceptable on Federal Bonds: Western Bonding Company AGENCY: Financial Management Service, Fiscal Service, Department of the Treasury. ACTION: Notice. SUMMARY: This is Supplement No. 12 to the Treasury Department Circular 570, 2009 Revision, published July 1, 2009, at 74 FR...

  7. 77 FR 32178 - Fiscal Service

    Science.gov (United States)

    2012-05-31

    ... Fiscal Service Reinsuring Companies Acceptable On Federal Bonds: Alterra Reinsurance USA, Inc. AGENCY: Financial Management Service, Fiscal Service, Department of the Treasury. ACTION: Notice. SUMMARY: This is Supplement No. 20 to the Treasury Department Circular 570, 2011 Revision, published July 1, 2011, at 76...

  8. The Causes of Fiscal Transparency

    DEFF Research Database (Denmark)

    Alt, James E.; Lassen, David Dreyer; Rose, Shanna

    We use unique panel data on the evolution of transparent budget procedures in the American states over the past three decades to explore the political and economic determinants of fiscal transparency. Our case studies and quantitative analysis suggest that both politics and fiscal policy outcomes...

  9. THE ANALYSIS OF FISCAL RISK

    OpenAIRE

    Alina Cojan

    2011-01-01

    This article describes the fiscal risk analysis, with emphasis on environmental and organizational factors, which should be taking into account in the risk management process. A special attention was given to the role of the fiscal policy and voluntary compliance related issues.

  10. Warfare, Fiscal Capacity, and Performance

    DEFF Research Database (Denmark)

    Dincecco, Mark; Prado, Mauricio

    2012-01-01

    We exploit differences in casualties sustained in pre-modern wars to estimate the impact of fiscal capacity on economic performance. In the past, states fought different amounts of external conflicts, of various lengths and magnitudes. To raise the revenues to wage wars, states made fiscal...

  11. Warfare, Fiscal Capacity, and Performance

    DEFF Research Database (Denmark)

    Prado, Mauricio; Dincecco, Mark

    We exploit differences in casualties sustained in pre-modern wars to estimate the impact of fiscal capacity on economic performance. In the past, states fought different amounts of external conflicts, of various lengths and magnitudes. To raise the revenues to wage wars, states made fiscal...

  12. Nueva crisis fiscal

    OpenAIRE

    Giraldo Giraldo, César

    1996-01-01

    El déficit fiscal en América Latina se origina actualmente en las deudas externa e interna, y en que la autoridad económica ha perdido el manejo de una parte importante de la política macroeconómica como resultado del proceso de descentralización. A la par del menor control económico, los factores desestabilizadores aumentan por la mayor movilidad de los mercados financieros internacionales, donde cualquier cambio de señales suscita movimientos de capital abruptos y masivos en favor o en cont...

  13. States in fiscal distress

    OpenAIRE

    Robert P. Inman

    2010-01-01

    The 2007-10 recession has imposed significant fiscal hardships on state and local governments. The result has been state budget deficits and the need to increase state taxes, cut spending, and withdraw funds from state “rainy day” accounts. The primary cause of state budget “gaps” has been the rise in the level of state unemployment. There is no evidence that these gaps are related to state political institutions, a state’s prior receipt of federal funding, or possibly favored access to key c...

  14. the fiscality, tool of an energy policy

    International Nuclear Information System (INIS)

    This report studies how the fiscality can be an adapted tool for the implementing of the french energy policy. The term fiscality designates here the fiscality of the energy production, consumption and use in the industrial fabrication processes. An evaluation of the french fiscality and the analysis of this accounting are detailed. (A.L.B.)

  15. 78 FR 14149 - 2012 Fiscal Transparency Report

    Science.gov (United States)

    2013-03-04

    ... the government's fiscal policy-making process.'' For the United States, reviews of the fiscal... Fiscal Transparency Report AGENCY: Department of State. ACTION: Notice. SUMMARY: The Department of State hereby presents the findings from the 2012 Fiscal Transparency review process in its first annual...

  16. Shaping the Fiscal Policy Framework

    DEFF Research Database (Denmark)

    Bergman, Ulf Michael; Hutchison, Michael M.; Hougaard Jensen, Svend E.

    This paper provides an overview of experiences with fiscal and structural reforms in Denmark and Sweden, focusing on areas of particular relevance to members of the euro area struggling with large budget imbalances. First, given the current priority to austerity plans in the euro area, we review......, we study the record of national fiscal rules, fiscal councils and gradual improvement of public finances, as implemented by Sweden for more than a decade. Third, given the challenges raised by ageing populations and budget pressures in several euro area countries, we assess the experiences with...

  17. The Growing US Fiscal Gap

    OpenAIRE

    Daniel Shaviro

    2002-01-01

    The United States has a huge long-term fiscal gap, perhaps with a present value as great as $74 trillion. The US may thus be unable to continue meeting its current spending commitments without eventually enacting huge tax increases. The tax cut enacted in 2001 may have increased the fiscal gap by about $13 trillion, but the main cause of the gap is increasing life expectancy, which raises the cost of Social Security and Medicare. While the fiscal gap can in theory be eliminated at the stroke ...

  18. CAPITALIZATION OF FISCAL AND ACCOUNTING INTERFERENCES FOR FISCAL OPTIMIZATION

    OpenAIRE

    Dănuţ CHILAREZ; ENE George Sebastian

    2014-01-01

    As economic entities in Romania are still in a relationship of interdependence between the accounting interest and the fiscal one, it makes the application of one or another accounting treatment under different circumstances on the transactions specific to the activity have a certain influence on the information released by the financial statements, but also on the tax bases and hence on the fiscal cost. This article argues that the sustainability and performance of a business requi...

  19. Accountability report - fiscal year 1997

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    1998-04-01

    This document contains the US NRC`s accountability report for fiscal year 1997. Topics include uses of funds, financial condition, program performance, management accountability, and the audited financial statement.

  20. Chicago, Keynes and Fiscal Policy

    Directory of Open Access Journals (Sweden)

    Esteban Pérez Caldentey

    2003-01-01

    Full Text Available En la primera mitad de la década de los años treinta los padres fundadores de la escuela de economía de Chicago y John Maynard Keynes en Inglaterra propusieron la puesta en marcha de trabajos públicos para combatir el desempleo y sobreponerse a la Gran Depresión. Frente a la rigidez de los precios de mercado y la impotencia de la política monetaria, la política fiscal contra cíclica pasó a ser vista como una estrategia viable y capaz de atenuar las fases del ciclo económico. A finales de la década tanto los economistas de Chicago como Keynes renunciaron al uso de este tipo de incentivos fiscales. Los economistas de Chicago centraron su rechazo en el potencial inflacionario de la política fiscal expansiva y enfocaron sus preocupaciones hacia los aspectos monetarios de la política fiscal. Por su parte Keynes mantuvo su apoyo a la política fiscal contra cíclica absteniéndose de recomendar los instrumentos que había propuesto anteriormente para combatir las fluctuaciones económicas. Utilizando el marco teórico que desarrolló en la Teoría General (1936, Keynes distinguió entre el presupuesto corriente y el de capital. El presupuesto corriente debía mostrar un equilibrio o un superávit con el fin de financiar el gasto en capital que actuaría como estabilizador del ciclo económico. Keynes distinguió así entre dos conceptos de política fiscal (la política fiscal compensatoria y la política fiscal basada en la programación de los gastos de capital. El segundo tipo de política fiscal, válido bajo la suposición de escasez del factor capital, suponía el rechazo de los instrumentos de estabilización fiscal de corto plazo (trabajos públicos y el uso de los impuestos para alterar los patrones de consumo. Más allá del punto de saturación del capital, la política fiscal podría cambiar su enfásis hacia el consumo y su rol compensatorio.

  1. Accrual Budgeting and Fiscal Policy

    OpenAIRE

    Marc Robinson

    2009-01-01

    Can an accrual budgeting system-a system in which budgetary spending authorizations to line ministries are formulated in accrual terms-serve the needs of good fiscal policy? If so, how must such a system be designed? What are the practical challenges which may arise in implementing sound fiscal policy under a budgeting system which is significantly more complex than traditional cash budgeting? These are the primary questions addressed in this paper. Because any budgeting system must support t...

  2. PRINCIPLES AND PROCEDURES ON FISCAL

    OpenAIRE

    Morar Ioan Dan

    2011-01-01

    Fiscal science advertise in most analytical situations, while the principles reiterated by specialists in the field in various specialized works. The two components of taxation, the tax system relating to the theoretical and the practical procedures relating to tax are marked by frequent references and invocations of the underlying principles to tax. This paper attempts a return on equity fiscal general vision as a principle often invoked and used to justify tax policies, but so often violate...

  3. Fiscal Aspects of Bank Restructuring

    OpenAIRE

    James Daniel

    1997-01-01

    Governments frequently assist troubled banks. This paper examines the fiscal aspects of such assistance: rationale, design criteria, methods, and macroeconomic implications. It concludes that (1) banks should be assisted only when there is a clear systemic risk; (2) assistance should be tied to a comprehensive restructuring program, minimize fiscal cost, be equitable and transparent, prevent recurrence, and facilitate a sound macroeconomic environment; (3) debt-based assistance will worsen pu...

  4. Fiscal councils and economic volatility

    Czech Academy of Sciences Publication Activity Database

    Geršl, A.; Jašová, M.; Zápal, Jan

    2014-01-01

    Roč. 64, č. 3 (2014), s. 190-212. ISSN 0015-1920 Grant ostatní: UK(CZ) UNCE 204005/2012 Institutional support: PRVOUK-P23 Keywords : dynamic inconsistency * fiscal and monetary policy interaction * independent fiscal council Subject RIV: AH - Economics Impact factor: 0.420, year: 2014 http://journal.fsv.cuni.cz/storage/1298_jasova.pdf

  5. Assessing Fiscal Risks in Bangladesh

    OpenAIRE

    Leandro Medina

    2015-01-01

    This paper identifies, quantifies, and assesses fiscal risks in Bangladesh. By performing sensitivity analysis and using stochastic simulations, it measures risks arising from shocks to GDP growth, the exchange rate, commodity prices, and interest rates. It also analyzes specific fiscal and institutional risks, such as those related to the pension system, the issuance of guarantees, the state-owned commercial banks, and the external borrowing and debt management strategy. The paper finds that...

  6. Learning about Fiscal Policy Uncertainty

    OpenAIRE

    Matthes, Christian; Sablik, Timothy

    2014-01-01

    In response to the financial crisis and recession of 2007-09, the federal government enacted a number of emergency fiscal policies intended to aid recovery. These included short-term stimulus measures, such as the American Recovery and Reinvestment Act of 2009, and temporary tax reductions, such as the payroll tax cut in 2010. However, the unconventional and transitory nature of these fiscal policies may have contributed to greater economic uncertainty. Given the slow recovery that has follow...

  7. Poor and under pressure: The social impact of Europe's fiscal consolidation

    OpenAIRE

    Darvas, Zsolt M.; Tschekassin, Olga

    2015-01-01

    Europe faces major challenges related to poverty, unemployment and polarisation between the south and the north, which impact adversely the current living conditions of many citizens, and also negatively impact medium- and long-term economic growth. Fiscal consolidation exaggerated social hardship. In vulnerable countries there was no alternative to fiscal consolidation, but in most EU countries and at aggregate EU level, consolidation was premature when the cyclical position of the economy w...

  8. Public Attitudes Toward Fiscal Consolidation: Evidence from a Representative German Population Survey

    OpenAIRE

    Hayo, Bernd; Neumeier, Florian

    2014-01-01

    The poor state of public finances in many countries has led to calls for fiscal consolidation. In practice, implementing concrete consolidation measures appears to meet with public resistance, suggesting that the success of consolidation efforts strongly depends on the popularity of the chosen measures. To identify public attitudes toward fiscal consolidation and alternative consolidation measures, we conducted a survey among 2,000 German citizens. Applying ordered and multinominal logit mode...

  9. WAREHOUSE TRANSFERS AND FISCAL FRAUD

    Directory of Open Access Journals (Sweden)

    Stanciu Dorica

    2015-07-01

    Full Text Available The fraud and fiscal evasion phenomenon generate indisputable negative effects, which are felt directly on the level of fiscal receipts earnings, determining major distortions in the market’s functioning mechanism. If in the European Union, the contribution of the three large tax categories (direct tax, indirect and social contributions in forming revenue are relatively close, in Romania, fiscal and budget revenue are directly dependent on the indirect tax and duties, especially on VAT and various sales taxes. If there is reductions in the fiscal evasion as to what these taxes are concerned, the premises for creating budget resource needed to fund the economic growth are created. In judicial literature, tax evasion is considered as being the logic result of all defects and inadvertencies of an imperfect legislation, of broken application methods, as well as a lack of foreseeing and lack of skill on the law-maker’s side, with their excessive tax system is as guilty as those who contribute in creating it. Regardless of how this phenomenon is defined, fiscal evasion represents the lack of fulfillment by the taxpayer of his fiscal obligation. The field in which tax evasion acts is as widespread as the different taxes, manifesting especially in the direct and indirect taxes, influencing their efficiency.

  10. Budget estimates, fiscal years 1994--1995

    International Nuclear Information System (INIS)

    This report contains the fiscal year budget justification to Congress. The budget provides estimates for salaries and expenses and for the Office of the Inspector General for fiscal years 1994 and 1995

  11. Fiscal Sustainability; The Case of Eritrea

    OpenAIRE

    Ayumu Yamauchi

    2004-01-01

    The paper examines fiscal sustainability issues for the case of Eritrea but has wider implications for addressing fiscal and debt sustainability. It begins with a formal definition and explanation of analytical sustainability indicators, followed by an assessment of the causes of fiscal deficits and their impact on the usual indicators of fiscal and external debt sustainability. The paper then goes beyond the usual analytical indicators by attempting to identify how and through which channels...

  12. The Political Economy of Fiscal Policy: Survey

    OpenAIRE

    Marcela Eslava

    2006-01-01

    This paper surveys the recent literature on the political economy of fiscal policy, in particular the accumulation of government debt. We examine three possible determinants of fiscal balances: opportunistic behavior by policymakers, heterogeneous fiscal preferences of either voters or politicians, and budget institutions. We focus on the contributions of the last 10 years and emphasize findings related to developing countries. We include a recent body of literature on the fiscal preferences ...

  13. The political economy of fiscal policy: Survey

    OpenAIRE

    Eslava, Marcela

    2006-01-01

    This paper surveys the recent literature on the political economy of fiscal policy, in particular the accumulation of government debt. We examine three possible determinants of fiscal balances: opportunistic behavior by policymakers, heterogeneous fiscal preferences of either voters or politicians, and budget institutions. We focus on the contributions of the last 10 years and emphasize findings related to developing countries. We include a recent body of literature on the fiscal preferences ...

  14. Ensuring Fiscal Sustainability in G-7 Countries

    OpenAIRE

    Daniel Leigh; David Hauner; Michael Skaarup

    2007-01-01

    Rising longevity, falling fertility rates, and the retirement of the baby boom generation will substantially raise age-related government spending in most advanced and many emerging market countries. This paper assesses the evolution of fiscal sustainability for each of the G-7 countries using two standard primary gap indicators. The estimated fiscal adjustment required to ensure long-run fiscal sustainability is substantial for all G-7 countries. In particular, ensuring fiscal sustainability...

  15. Stability consequences of fiscal policy rules

    OpenAIRE

    Railavo, Jukka

    2004-01-01

    Using an optimisation-based model with endogenous labour supply and a proportional tax rate, we compare the stabilising properties of different fiscal policy rules. The economy is affected by shocks from both government spending and technology. The fiscal policy rule can be based on government liabilities or the government budget deficit. As both are given as measures of fiscal policy performance in the Stability and Growth Pact (SGP), we also use a fiscal policy rule based on the combination...

  16. Temporary and persistent fiscal policy shocks

    OpenAIRE

    Sola, Sergio

    2012-01-01

    Abstract This paper conducts an empirical investigation of the effects of temporary versus persistent fiscal policy shocks. Using data from the US I show that short lived fiscal expansions have a positive effect on output and consumption; while persistent fiscal shocks generate negative effects on consumption and - to a lesser extent - on output. Persistent fiscal expansions are associated with an increase in precautionary savings, collapse in consumers' confidence and an increase the yield c...

  17. Fiscal Policy during the current Crisis

    OpenAIRE

    Cristina Aurora BUNEA-BONTAS; Petre, Mihaela Cosmina

    2009-01-01

    Fiscal policy is an important government tool for managing the economy, having the ability to affect the total amount of output produced - GDP. Changes in the level and composition of government spending, taxation or other instruments of fiscal policy have impact on aggregate demand, the pattern of resource allocation, and the distribution of income. The article shows the mechanisms through which fiscal policy stabilizes the business cycle, and the specific requirements for fiscal policy duri...

  18. Demand effects of fiscal policy since 2008

    OpenAIRE

    Stockhammer, Engelbert; Qazizada, Walid; Gechert, Sebastian

    2016-01-01

    The Great Recession 2007-09 has led to controversies around the role of fiscal policy. Academically this has translated into renewed interest in the effects of fiscal policy. Several studies have since suggested that fiscal multipliers are substantially larger in downswings or depressions than in the upswing. In terms of economic policy reactions countries have differed substantially in the fiscal stance. It is an important open question how big the impact of these policies on economic growth...

  19. Fiscal system analysis - contractual systems

    International Nuclear Information System (INIS)

    Production sharing contracts are one of the most popular forms of contractual system used in petroleum agreements around the world, but the manner in which the fiscal terms and contract parameters impact system measures is complicated and not well understood. The purpose of this paper is to quantify the influence of private and market uncertainty in contractual fiscal systems. A meta-modelling approach is employed that couples the results of a simulation model with regression analysis to construct numerical functionals that quantify the fiscal regime. Relationships are derived that specify how the present value, rate of return, and take statistics vary as a function of the system parameters. The deepwater Girassol field development in Angola is taken as a case study. (author)

  20. FISCAL POLICY AND FINANCIAL CRISIS

    Directory of Open Access Journals (Sweden)

    Burim GASHI

    2014-06-01

    Full Text Available In this paper I will try to analyze the fiscal policy and to suggest fiscal policy measures as very crucial instrument to market economy during the global financial crisis. Decision makers of monetary and financial policy in Kosovo currently are not under taking significant measures to promote growth and development. Public spending is excessive; the public debt is constantly growing, current account deficit also. In addition unemployment is high, capital investments in public and private sectors are insufficient, as well as investments in science and education. Market infrastructure in Kosovo is not functional and market laws are not enforced. The central government in Kosovo is facing trade of between market liberalization and challenges with public spending. Therefore fiscal policy measures are insufficient and cannot stimulate economic growth.

  1. 34 CFR 303.125 - Fiscal control.

    Science.gov (United States)

    2010-07-01

    ... 34 Education 2 2010-07-01 2010-07-01 false Fiscal control. 303.125 Section 303.125 Education... DISABILITIES State Application for a Grant Statement of Assurances § 303.125 Fiscal control. The statement must provide assurance satisfactory to the Secretary that such fiscal control and fund accounting...

  2. 45 CFR 402.21 - Fiscal control.

    Science.gov (United States)

    2010-10-01

    ... 45 Public Welfare 2 2010-10-01 2010-10-01 false Fiscal control. 402.21 Section 402.21 Public Welfare Regulations Relating to Public Welfare OFFICE OF REFUGEE RESETTLEMENT, ADMINISTRATION FOR CHILDREN... Administration of Grants § 402.21 Fiscal control. (a) Fiscal control and accounting procedures must be...

  3. Transatlantic Monetary and Fiscal Policy Interaction

    NARCIS (Netherlands)

    Aarle, B. van; Garretsen, J.H.; Huart, F.

    2003-01-01

    This paper studies the design, effects and interactions of monetary and fiscal policies in the euro-area and between the euro-area and the non euro-area. To do so, a stylized three-country model of monetary and fiscal policy rules is constructed. It is analyzed how monetary and fiscal rules affect t

  4. El tratamiento fiscal del crowdfunding

    OpenAIRE

    Martínez Muñoz, Yolanda

    2015-01-01

    Este trabajo aborda el estudio del crowdfunding y su tratamiento fiscal en el sistema español. El notable protagonismo adquirido por este modo de financiación alternativa para proyectos innovadores exige la creación de un marco jurídico adecuado y el establecimiento de un sistema de incentivos fiscales que impulsen su desarrollo. En este sentido, la Ley de fomento de la financiación empresarial establece el régimen jurídico del crowdfunding financiero, dando cobertura legal a esta nueva forma...

  5. Fiscal decentralisation and the size of government: a review of the empirical literature

    Directory of Open Access Journals (Sweden)

    Silvia Golem

    2010-03-01

    Full Text Available Within the public choice framework, it has been argued that decentralised authority over the provision and financing of certain public goods and services induces competitive pressure among different governmental units and consequently reduces the size of government. However, in many countries, fiscal decentralisation seems to have occurred almost exclusively through devolution of expenditure activities, without the accompanying devolution of the tax authority. We address this issue in detail, and discuss the epercussions of the resulting vertical fiscal imbalance on the total size of government. We also discuss alternative, demand-side channels of the influence of fiscal decentralisation on the size of government. In the empirical literature that we review, little consensus on the relationship between fiscal decentralisation and the size of government is reached.

  6. The output effect of fiscal consolidation plans

    OpenAIRE

    Alesina, Alberto; Favero, Carlo; Giavazzi, Francesco

    2014-01-01

    We show that the correct experiment to evaluate the effects of a fiscal adjustment is the simulation of a multi year fiscal plan rather than of individual fiscal shocks. Simulation of fiscal plans adopted by 16 OECD countries over a 30-year period supports the hypothesis that the effects of consolidations depend on their design. Fiscal adjustments based upon spending cuts are much less costly, in terms of output losses, than tax-based ones and have especially low output costs when they consis...

  7. Fiscal Federalism in Monetary Unions

    DEFF Research Database (Denmark)

    Dreyer, Johannes Kabderian; A. Schmid, Peter

    2015-01-01

    suggest their dependence on relative GDP and relative GDP growth during crisis periods, an evidence of net fiscal transfers from relatively rich to relatively poor states (redistributive effect) and to states with an underperforming economic development (stabilization effect). The Euro-zone (EZ) lacks a...

  8. PRINCIPLES AND PROCEDURES ON FISCAL

    Directory of Open Access Journals (Sweden)

    Morar Ioan Dan

    2011-07-01

    Full Text Available Fiscal science advertise in most analytical situations, while the principles reiterated by specialists in the field in various specialized works The two components of taxation, the tax system relating to the theoretical and the practical procedures relating to tax are marked by frequent references and invocations of the underlying principles to tax. This paper attempts a return on equity fiscal general vision as a principle often invoked and used to justify tax policies, but so often violated the laws fiscality . Also want to emphasize the importance of devising procedures to ensure fiscal equitable treatment of taxpayers. Specific approach of this paper is based on the notion that tax equity is based on equality before tax and social policies of the executive that would be more effective than using the other tax instruments. I want to emphasize that if the scientific approach to justify the unequal treatment of the tax law is based on the various social problems of the taxpayers, then deviates from the issue of tax fairness justification explaining the need to promote social policies usually more attractive to taxpayers. Modern tax techniques are believed to be promoted especially in order to ensure an increasing level of high efficiency at the expense of the taxpayers obligations to ensure equality before the law tax. On the other hand, tax inequities reaction generates multiple recipients from the first budget plan, but finalities unfair measures can not quantify and no timeline for the reaction, usually not known. But while statistics show fluctuations in budgetary revenues and often find in literature reviews and analysis relevant to a connection between changes in government policies, budget execution and outcome. The effects of inequality on tax on tax procedures and budgetary revenues are difficult to quantify and is among others to this work. Providing tax equity without combining it with the principles of discrimination and neutrality

  9. COMPARATIVE STUDY ON ACCOUNTING AND FISCAL AMORTIZATION

    Directory of Open Access Journals (Sweden)

    MARIANA GURAU

    2012-05-01

    Full Text Available Placed in the international trend, Romanian accounting had experienced various changes, especially as regards of progress on disconnection between accounting and fiscality. In the present, fiscal rules should not have any role in accounting decisions, because accounting rules are applied to produce accounting information that is useful in making decisions and to provide a "true and fair view" upon financial reality of the entity. However, the barrier in the habit of accounting to thinking for fiscal point of view all economic transactions remains insurmountable, yet. Starting from this perspective on disconnection between accounting and fiscality would mean that amortization recorded in the accounting, as a result of management policy, to be different from fiscality amortization, to calculate income tax. Although formally accepted, disconnect between accounting and fiscality continues to meet many difficulties. In this sense, it is usual in practice to use the same method of amortization for accounting purposes and for fiscal purposes to prevent complications of double track amortization and prevent wandering in the rules in this field. Accounting rule is deliberately eluded in favor of the fiscal rules. This is the reason we proposed to make in this paper a comparative study between norms and rules on accounting and fiscal amortization, paper in which we intend to show the benefits of applying accounting and fiscal rules separately.

  10. Fiscal Coordination vs. Fiscal Competition among Corporations in EU

    OpenAIRE

    Trandafir Adina

    2011-01-01

    While tax harmonization in Europe can be difficult, fiscal coordination is as necessary as it is desirable. Tax competition, however, is the result of international mobility of tax bases, such as companies and financial assets. This mobility was not driven only by technological innovations in transport and telecommunications sectors, but especially the political decisions of liberalization and deregulation. This article addresses the issue of eliminating tax competition through tax base, by a...

  11. Main fiscal dispositions in the domains of energy and mineral raw materials as foreseen by the 2002 finances law and by the last corrigendum law for 2001

    International Nuclear Information System (INIS)

    This short document summarizes the main changes for 2002 in the French fiscal measures (tax credits, amortization, tariffs, recovery etc..) relative to the petroleum products, the renewable energies, the energy conservation and the alternative vehicles. (J.S.)

  12. Fiscal Year 2013 Revegetation Assessment

    Energy Technology Data Exchange (ETDEWEB)

    Jenifer Nordstrom

    2013-11-01

    This report summarizes the Fiscal Year 2013 Revegetation Assessment by Battelle Energy Alliance, LLC. This assessment was conducted to supplement documentation related to the Storm Water Pollution Prevention Plan for Construction Activities and to ensure that disturbed vegetation and soil at various locations are being restored. This report provides the following information for each site being monitored by the Idaho National Laboratory Environmental Support and Services: Summary of each site Assessment of vegetation status and site stabilization at each location Actions and Resolutions for each site. Six disturbed sites were evaluated for this assessment. One has achieved final stabilization. The remaining five sites not meeting the criteria for final stabilization will be evaluated again in the next fiscal year.

  13. Fiscal Year 2012 Revegetation Assessment

    Energy Technology Data Exchange (ETDEWEB)

    Jenifer Nordstrom

    2012-11-01

    This report summarizes the Fiscal Year 2012 Revegetation Assessment by Battelle Energy Alliance, LLC. This assessment was conducted to supplement documentation related to the Storm Water Pollution Prevention Plan for Construction Activities and to ensure that disturbed vegetation and soil at various locations are being restored. This report provides the following information for each site being monitored by the Idaho National Laboratory Environmental Support and Services: • Summary of each site • Assessment of vegetation status and site stabilization at each location • Actions and Resolutions for each site. Ten disturbed sites were evaluated for this assessment. Six have achieved final stabilization. The remaining four sites not meeting the criteria for final stabilization will be evaluated again in the next fiscal year.

  14. Why fiscal regimes matter for fiscal sustainability analysis: an application to France

    OpenAIRE

    Aldama, Pierre; Creel, Jérôme

    2016-01-01

    This paper introduces a Regime-Switching Model-Based Sustainability test allowing for periodic (or local) violations of Bohn (1998, QJE)’s sustainability condition. We assume a Markov-switching fiscal policy rule whose parameters stochastically switch between sustainable and unsustainable regimes. We demonstrate that long-run fiscal sustainability not only depends on regime-specific feedback coefficients of the fiscal policy rule but also on the average durations of fiscal regimes. Evidence o...

  15. Distributional Consequences of Fiscal Consolidation and the Role of Fiscal Policy; What Do the Data Say?

    OpenAIRE

    Jaejoon Woo; Elva Bova; Tidiane Kinda; Yuanyan Sophia Zhang

    2013-01-01

    The 2007-09 Great Recession has led to an unprecedented increase in public debt in many countries, triggering substantial fiscal adjustments. What are the distributional consequences of fiscal austerity measures? This is an important policy question. This paper analyzes the effects of fiscal policies on income inequality in a panel of advanced and emerging market economies over the last three decades, complemented by a case study of selected consolidation episodes. The paper shows that fiscal...

  16. Monetary Exit and Fiscal Spillovers

    OpenAIRE

    Libich, Jan; Nguyen, Dat; Stehlik, Petr

    2014-01-01

    The aftermath of the Global financial crisis has seen two types of monetary policy concerns. Some economists (e.g. Paul Krugman) worry primarily about possible deflation caused by a secular stagnation. In contrast, others (e.g. John Taylor) worry about excessively high inflation caused by quantitative easing and monetization of fiscal imbalances. We show that some countries should fear both - deflation in the short term and high inflation in the long term - whereas some countries are unlikely...

  17. Managing expectations and fiscal policy

    OpenAIRE

    Anastasios G. Karantounias with Lars Peter Hansen; Sargent, Thomas J

    2009-01-01

    This paper studies an optimal fiscal policy problem of Lucas and Stokey (1983) but in a situation in which the representative agent's distrust of the probability model for government expenditures puts model uncertainty premia into history-contingent prices. This situation gives rise to a motive for expectation management that is absent within rational expectations and a novel incentive for the planner to smooth the shadow value of the agent's subjective beliefs to manipulate the equilibrium p...

  18. Fiscal Decentralization, Redistribution and Growth

    OpenAIRE

    Neyapti, Bilin; Bulut-Cevik, Zeynep Burcu

    2011-01-01

    This paper analyzes the welfare implications of a transfer mechanism in a fiscally decentralized economy where local governments select their tax collection effort to maximize their lifetime utility. We consider a transfer rule that both punishes for the lack of efficiency in tax-collection and compensates for the deviation of pre-tax or transfer income from a target level; in addition, a portion of transfers is considered to be directed towards investment. Simulations of the model's optimal ...

  19. Marks on the petroleum fiscality

    International Nuclear Information System (INIS)

    This document offers some marks on the petroleum fiscality in France: the taxes as the 'accises' and the 'TVA', the part of the taxes in the sale price at the service station, the comparison with other countries of Europe, the tax revenues and the Government budget. It provides also marks on the fuels prices formation (margins), the world petroleum markets (supply and demand) and the part of the petroleum companies on the petroleum market. (A.L.B.)

  20. Fiscal Devaluation: Efficiency and Equity

    OpenAIRE

    Matthias Burgert; Werner Roeger

    2014-01-01

    Whilst it is generally accepted that a shift of taxation from labour to consumption has positive effects on employment and is growth enhancing, such a policy reform is often not pursued due to equity considerations. In this paper we challenge these considerations by arguing that a fiscal devaluation is a means to shift taxes from labour to all sources of income including income from financial and non-financial wealth. Approaching income from a functional income distribution angle, we focus on...

  1. Public investment under fiscal constraints

    OpenAIRE

    Alessandro Missale; emanuele bacchiocchi; elisa borghi

    2009-01-01

    EU New Member States must comply with the Stability and Growth Pact (SGP) and the investment requirements implied by the Lisbon Agenda. However, the SGP rules may result in underinvestment or distortions in the allocation of public expenditure. This paper provides new evidence on the effects of debt sustainability and SGP fiscal constraints on government expenditure in fixed capital, education and health in OECD countries by estimating government expenditure reaction functions to public debt ...

  2. Fiscal Policy and Lending Relationships

    OpenAIRE

    Melina, Giovanni; VILLA, Stefania

    2013-01-01

    This paper studies how fiscal policy affects credit market conditions. First, it conducts a FAVAR analysis showing that the credit spread responds negatively to an expansionary government spending shock, while consumption, investment, and lending increase. Second, it illustrates that these results are not mimicked by a DSGE model where the credit spread is endogenized via the inclusion of a banking sector exploiting lending relationships. Third, it demonstrates that introducing deep habits in...

  3. Fiscal policy and intranational risk-sharing

    OpenAIRE

    von Hagen, Jürgen

    1998-01-01

    A general feature of national fiscal systems is that they provide buffers against regional fluctuations in output and employment by redistributing income between the different regions of a country. Recent literature in connection with European monetary integration has stressed the insurance aspect of this function: Through the fiscal system, regions obtain insurance against asymmetric shocks. In this paper, we review the literature on risk-sharing through fiscal mechanisms. While consumption ...

  4. Implementing the New Fiscal Policy Activism

    OpenAIRE

    Auerbach, Alan J.

    2009-01-01

    To many observers, the current recession provides compelling circumstances for renewed fiscal policy activism. But the strong support for fiscal policy intervention reflects a renewed belief in policy activism that had already appeared before the present crisis. However, the recent debate about possible fiscal policy interventions suggests that we are still relying on the approaches to discretionary policy used in past periods of policy activism. It is not surprising that there have been few ...

  5. The fiscal dimensions of conflict and reconstruction

    OpenAIRE

    Addison, Tony; Murshed, S. Mansoob

    2001-01-01

    Political violence, coup d’état, civil wars and inter-state wars, all have fiscal dimensions (and sometimes fiscal causes). Who gets what—public employment and public spending—and who has to pay for it, are questions that raise fundamental issues about the distribution of society's resources. These can only be resolved peacefully by some form of social contract, resting on the foundation of effective fiscal institutions (systems of public spending and taxation). Accordingly, the paper contras...

  6. Fiscal Policy and the Price Level

    OpenAIRE

    Annicchiarico Barbara; Marini Giancarlo

    2005-01-01

    This paper studies the issue of price stability in a continuous time optimizing general equilibrium model with overlapping generations. It is shown that fiscal policy has effects on nominal variables. Fiscal expansions are inflationary even when the government intertemporal budget constraint is respected for any prices sequence and there is no recourse to money financing. Our results shed new light on the interaction between fiscal policy and nominal prices.

  7. Assessing fiscal sustainability in some selected countries

    OpenAIRE

    Cruz-Rodríguez, Alexis

    2014-01-01

    The aim of this article is to assess the sustainability of fiscal policy in 18 developing and emerging countries, using the recursive algorithm developed by Croce and Juan-Ramón (2003). In general, the results suggest that most countries were identified as presenting large unsustainable fiscal positions in the period considered, explained basically by primary fiscal deficits. Interestingly, results for Panama suggest no evidence that officially dollarized countries run more pru...

  8. Optimal fiscal policy when migration is feasible

    OpenAIRE

    Occhino, Filippo

    2005-01-01

    This paper investigates how the feasibility of migration affects governments' optimal fiscal policies. We assume that households migrate towards economies where their welfare is higher, governments choose taxes and public expenditures to maximize a weighted sum of the households' welfare, welfare is increasing in public expenditures, and only distortionary labor income taxes are available. In isolated economies, the optimal fiscal policy implies that some households are net fiscal contributor...

  9. The Myth of Expansionary Fiscal Austerity

    OpenAIRE

    Dean Baker

    2010-01-01

    Recently governments, economists, and international financial institutions have been debating the merits of further fiscal stimulus to combat the Great Recession versus fiscal austerity or “adjustment” – that is, higher taxes and/or lower government spending – to combat budget deficits. Some supporters of austerity have gone as far as arguing that fiscal adjustment could restore economic growth. These analyses are being touted to oppose increased stimulus to boost the economy. This paper exam...

  10. Perceptions and Misperceptions of Fiscal Inflation

    OpenAIRE

    Eric M. Leeper; Todd B. Walker

    2012-01-01

    The Great Recession and worldwide financial crisis have exploded fiscal imbalances and brought fiscal policy and inflation to the forefront of policy concerns. Those concerns will only grow as aging populations increase demands on government expenditures in coming decades. It is widely perceived that fiscal policy is inflationary if and only if it leads the central bank to print new currency to monetize deficits. Monetization can be inflationary. But it is a misperception that this is the onl...

  11. Fiscal Fluctuation Risks and Intergovernmental Functional Allocation

    OpenAIRE

    Toshihiro Ihori

    2013-01-01

    To cope with business cycle risks, a government has several fiscal measures at its disposal. First, the government may reduce the economic cost of recession. Second, the government may stimulate GDP in a recession. Furthermore, it is also useful to maintain a boom as long as possible. For each policy option, the government can use both automatic stabilizers and discretionary fiscal policy. Automatic stabilizers prepare business fluctuation risks in advance as a part of fiscal systems. At the ...

  12. Alternative policies for solid waste management

    OpenAIRE

    Percoco Marco

    2004-01-01

    Because of the recent dramatic increase in waste production, solid waste management and control have become one of the central issues in environmental policy. In this paper we review alternative fiscal instruments to control the production of residuals by using the benchmark given by the social optimum. Finnally, we apply the model to theoretically evaluate the TARI.

  13. Are Independent Fiscal Institutions Really Independent?

    Directory of Open Access Journals (Sweden)

    Slawomir Franek

    2015-08-01

    Full Text Available In the last decade the number of independent fiscal institutions (known also as fiscal councils has tripled. They play an important oversight role over fiscal policy-making in democratic societies, especially as they seek to restore public finance stability in the wake of the recent financial crisis. Although common functions of such institutions include a role in analysis of fiscal policy, forecasting, monitoring compliance with fiscal rules or costing of spending proposals, their roles, resources and structures vary considerably across countries. The aim of the article is to determine the degree of independence of such institutions based on the analysis of the independence index of independent fiscal institutions. The analysis of this index values may be useful to determine the relations between the degree of independence of fiscal councils and fiscal performance of particular countries. The data used to calculate the index values will be derived from European Commission and IMF, which collect sets of information about characteristics of activity of fiscal councils.

  14. Fiscal Governance in the Euro Area

    DEFF Research Database (Denmark)

    Hallet, Andrew Hughes; Hougaard Jensen, Svend E.

    2012-01-01

    operated, supported by an effective excess debt protocol. A division of labour between fiscal and monetary policy is proposed, whereby fiscal policy is used for long-term targets and monetary policy for short-term stabilization. We then design a monitoring agency, in the form of a fiscal policy commission......This contribution considers mechanisms for rule-based fiscal policy co-ordination to replace the failed Stability and Growth Pact in the euro area. It argues in favour of soft debt targets as a means of addressing problems caused by excessive debt. It is shown how such targets can be safely...

  15. Fiscal Responsiveness, Persistence and Discretion: A Case Study of Pakistan

    Directory of Open Access Journals (Sweden)

    Syed Ammad

    2012-09-01

    Full Text Available The main objective of this study is to analyses the fiscal policy conditions in Pakistan; in case of output change ( fiscal responsiveness, effect of last year policy on this year( fiscal persistence and finally fiscal discretion, through a 2SLS method the study period consist of 1972 to 2010. The main finding of the study is government expenditures are more responsive in case Pakistan which is the main cause of this fiscal imbalances and also indicating an unstable fiscal stance.

  16. Independent Fiscal Councils and Their Possible Role in Greece

    OpenAIRE

    Vassilis Th. Rapanoss; Georgia Kaplanoglou

    2010-01-01

    There is a growing interest in the role of independent fiscal councils in strengthening the incentives for fiscal discipline and improving fiscal performance. This paper discusses the motivation for the establishment of such councils and draws on the existing literature and the range of fiscal councils in OECD countries to discuss their key functions. In light of the recent fiscal crisis in Greece, the paper examines the potential role of such a council in enhancing fiscal transparency and ac...

  17. Money Market Operations in Fiscal 2007

    OpenAIRE

    Financial Markets Department

    2008-01-01

    Throughout fiscal 2007, the Bank of Japan conducted money market operations with the uncollateralized overnight call rate as the operating target. The target level for the uncollateralized overnight call rate remained at "around 0.5 percent" throughout all of fiscal 2007. During this period, the basic loan rate applied to the complementary lending facility was 0.75 percent.

  18. Is fiscal policy coordination in EMU desirable?

    NARCIS (Netherlands)

    R.M.W.J. Beetsma; X. Debrun; F.J.G.M. Klaassen

    2001-01-01

    'It is widely argued that Europe's unified monetary policy calls for international coordination of fiscal policy. This paper surveys the issues involved with the coordination of fiscal policies as a demand management tool. We discuss ex-ante and ex-post coordination. The former operates through bind

  19. European Fiscal Policy of Tax Havens

    Directory of Open Access Journals (Sweden)

    Gabriela Mironov

    2009-10-01

    Full Text Available Taxation system is a necessary evil. Almost the entire world admits its utility, but even necessary as it is, the taxation system remains an evil. Fiscal paradises had been born heavily, but they multiplied quickly. In specialization literature, as well as in juridical and economical literature there are few and modest attempts of analysis of fiscal paradises, although a circumscribing of the area that is covered is not difficult to realize. Every state can be used as fiscal paradises for certain persons on the basis of several taxation agreements that provide an auspicious system for certain types of incomes and investments performed by foreigners in the respective country. There is a multitude of possibilities for the decrease of fiscal overwhelming. A legal possibility is the fiscal scheduling using the offshore companies registered in jurisdictions with fiscal paradise status. Fiscal scheduling through offshore company means the election of that type of company that fits for the purpose and interests of the business. There is also the problem of the election of the best jurisdiction in concordance with the purpose pursued. Fiscal paradises represent the fertile ground for the manipulation of taxation basis of the benefits, through utilization of intermediate transfer prices, having as justifiable basis economical transactions, most of the times simulated transactions. The legality, but most of all the ethics of the techniques used are al least controversial.

  20. 78 FR 31535 - Assistive Technology Alternative Financing Program

    Science.gov (United States)

    2013-05-24

    ... On August 8, 2012, we published a notice in the Federal Register (77 FR 47375) inviting applications... Assistive Technology Alternative Financing Program AGENCY: Office of Special Education and Rehabilitative... Technology (AT) Alternative Financing Program (AFP) in fiscal year (FY) 2012 to make new grant awards in...

  1. Chicago, Keynes and Fiscal Policy

    OpenAIRE

    Esteban Pérez Caldentey

    2003-01-01

    En la primera mitad de la década de los años treinta los padres fundadores de la escuela de economía de Chicago y John Maynard Keynes en Inglaterra propusieron la puesta en marcha de trabajos públicos para combatir el desempleo y sobreponerse a la Gran Depresión. Frente a la rigidez de los precios de mercado y la impotencia de la política monetaria, la política fiscal contra cíclica pasó a ser vista como una estrategia viable y capaz de atenuar las fases del ciclo económico. ...

  2. Fiscal Year 2010 Revegetation Assessment

    Energy Technology Data Exchange (ETDEWEB)

    Jenifer Nordstrom; Mike Lewis

    2010-11-01

    This report summarizes the Fiscal Year 2010 Revegetation Assessment by Battelle Energy Alliance, LLC. This assessment was conducted to supplement documentation related to the Storm Water Pollution Prevention Plan for Construction Activities and to ensure that disturbed vegetation and soil at various locations are being restored. This report provides the following information for each site being monitored by the Idaho National Laboratory Environmental Support and Services: • Summary of each site • Assessment of vegetation status and site stabilization at each location • Recommendation(s) for each site.

  3. Fiscal Year 2009 Revegetation Assessment

    Energy Technology Data Exchange (ETDEWEB)

    Michael Lewis

    2009-10-01

    This report summarizes the Fiscal Year 2009 Revegetation Assessment by Battelle Energy Alliance, LLC. This assessment was conducted to supplement documentation related to the Storm Water Pollution Prevention Plan for Construction Activities and to ensure that disturbed vegetation and soil at various locations are being restored. This report provides the following information for each site being monitored by the Idaho National Laboratory Environmental Support and Services: • Summary of each site • Assessment of vegetation status and site stabilization at each location • Recommendation(s) for each site.

  4. Political Consensus and Fiscal Outcomes

    DEFF Research Database (Denmark)

    Houlberg, Kurt; Holm Pedersen, Lene

    2015-01-01

    It is becoming difficult to maintain consensus in a period of economic austerity, and this possibly challenges the ability of democratic institutions to take decisions on tough economic questions. In order to find out how political consensus influences fiscal outcomes, this article sets out to...... cost, while at the same time politicians may be better at sticking to budgets if political consensus exists. The analysis is based on a pooled regression analysis of the local governments in Denmark in the years 2008 and 2009 using a data set combining survey data with administrative data on the local...

  5. Reference data about petroleum fiscality

    International Nuclear Information System (INIS)

    This paper explains the different taxes existing in France for the petroleum products (domestic tax on petroleum products, added-value tax), the share of taxes in the retail price, the differences with other European countries, the French Government fiscal receipts and budget. Some information forms are attached to this document and concern: the formation of fuel prices (upstream, refining and transport-distribution margins), the evolution of annual average transport-distribution margins, some reference data about world petroleum markets (supply and demand, prices, market data), and some reference data about the role of oil companies on the petroleum market. (J.S.)

  6. IMPROVEMENT OF THE FISCAL CLAIMS MANAGEMENT SYSTEM

    Directory of Open Access Journals (Sweden)

    DELIMAN EUGEN

    2010-12-01

    Full Text Available The conduct of the fiscal administration regarding the simplification and modernization of the systems of statements and payment of tax obligations is a necessary task to improve the relationship between the fiscal administration and the taxpayers, and also to induce efficiency regarding the management of fiscal duties in a single system. Regrouping the collecting of taxes under a single administration by taking over the functions of the social security administration has been the cornerstone of establishing a simplified tax administration. Improving the methods of compulsory enforcement of tax claims, the implementation of the management by objectives and the improvement of performance indicators of the fiscal administration activity, are considered to be the commitment of the fiscal body regarding the process of improving the collection of public financial resources.

  7. Do Municipal Mergers Improve Fiscal Outcomes?

    DEFF Research Database (Denmark)

    Hansen, Sune Welling; Houlberg, Kurt; Holm Pedersen, Lene

    2014-01-01

    basic argument is that the conceptualisation of fiscal management in political science is often too narrow as it focuses on the budget and pays hardly any attention to balances in the final accounts and debts – elements of management which are central to policy making. On this background, the causal......Improved fiscal management is a frequent justification for promoting boundary consolidations. However, whether or not this is actually the case is rarely placed under rigorous empirical scrutiny. Hence, this article investigates if fiscal outcomes are improved when municipalities are merged. The...... relationship between municipal mergers and fiscal outcomes is analysed. Measured on the balance between revenues and expenses, liquid assets and debts, municipal mergers improve the fiscal outcomes of the municipalities in a five-year perspective, although the pre-reform effects tend to be negative. For...

  8. Alternative security

    International Nuclear Information System (INIS)

    This book contains the following chapters: The Military and Alternative Security: New Missions for Stable Conventional Security; Technology and Alternative Security: A Cherished Myth Expires; Law and Alternative Security: Toward a Just World Peace; Politics and Alternative Security: Toward a More Democratic, Therefore More Peaceful, World; Economics and Alternative Security: Toward a Peacekeeping International Economy; Psychology and Alternative Security: Needs, Perceptions, and Misperceptions; Religion and Alternative Security: A Prophetic Vision; and Toward Post-Nuclear Global Security: An Overview

  9. Fiscal Decentralisation and Economic Growth: Role of Democratic Institutions

    OpenAIRE

    Nasir Iqbal; Musleh Ud Din; Ejaz Ghani

    2013-01-01

    This study attempts to analyse the impact of fiscal decentralisation on economic growth. It also examines the complementarity between fiscal decentralisation and democratic institutions in promoting growth. The modelling framework is the endogenous growth model augmented with measures of fiscal decentralisation through democratic institutions. To capture the multidimensionality, three different measures of fiscal decentralisation are used. The overall analysis shows that revenue decentralisat...

  10. STATE BUDGET AND FISCAL POLICY INSTRUMENTS TO ACHIEVE ITS

    Directory of Open Access Journals (Sweden)

    Haralambie George Alin

    2010-12-01

    Full Text Available This paper presents the tools for carrying out the fiscal budget in Romania. An effective fiscal policy involves increasing budget revenues and reduce their costs of collection. Public expenditure, taxes and debt are tools of fiscal policy to achieve economic stability budget. They are also presented the inter dependencies between fiscal policy and budget.

  11. Computable general equilibrium model fiscal year 2013 capability development report

    Energy Technology Data Exchange (ETDEWEB)

    Edwards, Brian Keith [Los Alamos National Lab. (LANL), Los Alamos, NM (United States); Rivera, Michael Kelly [Los Alamos National Lab. (LANL), Los Alamos, NM (United States); Boero, Riccardo [Los Alamos National Lab. (LANL), Los Alamos, NM (United States)

    2016-05-17

    This report documents progress made on continued developments of the National Infrastructure Simulation and Analysis Center (NISAC) Computable General Equilibrium Model (NCGEM), developed in fiscal year 2012. In fiscal year 2013, NISAC the treatment of the labor market and tests performed with the model to examine the properties of the solutions computed by the model. To examine these, developers conducted a series of 20 simulations for 20 U.S. States. Each of these simulations compared an economic baseline simulation with an alternative simulation that assumed a 20-percent reduction in overall factor productivity in the manufacturing industries of each State. Differences in the simulation results between the baseline and alternative simulations capture the economic impact of the reduction in factor productivity. While not every State is affected in precisely the same way, the reduction in manufacturing industry productivity negatively affects the manufacturing industries in each State to an extent proportional to the reduction in overall factor productivity. Moreover, overall economic activity decreases when manufacturing sector productivity is reduced. Developers ran two additional simulations: (1) a version of the model for the State of Michigan, with manufacturing divided into two sub-industries (automobile and other vehicle manufacturing as one sub-industry and the rest of manufacturing as the other subindustry); and (2) a version of the model for the United States, divided into 30 industries. NISAC conducted these simulations to illustrate the flexibility of industry definitions in NCGEM and to examine the simulation properties of in more detail.

  12. FISCAL FRAUD IN TEXTILE AND CLOTHING IMPORTS

    Directory of Open Access Journals (Sweden)

    STANCIU Dorică

    2015-05-01

    Full Text Available We have appreciated that this paper can be structured in four chapters that will explain the inevitable negative effects generated by tax and fiscal fraud, which are felt in the level of fiscal revenue, determining major malfunctions in the mechanism of the markets. In the economic reality and in the rise of the tax fraud phenomenon, in the contemporary fiscal doctrine it is stated that the public desiderate of “loyal collaboration between the tax payer and the revenue agency” with the purpose of correctly setting taxes and tariffs and other required fund needed for creating public interest monetary funds. The economic, social and political globalization tendencies of the last decade have stimulated and supported actions relating to eluding the fiscal dispositions, actions which have moved more and more from the center of the national fiscal system towards the exterior, outside the field of action of the national fiscal law. In this regard show that reducing fiscal evasion, allows the creation of budgetary resources, necessary for funds allocation for economical growth. In Romania, one of the basic economic problems is the lack of investment resources allocated, these being the main contributor to economic growth, in which the reduction of fraud and tax evasion is the solution to increase this allocation which can be rated as one of the priority tasks of the state.

  13. REVALUATION OF TANGIBLE ASSETS FROM ACCOUNTING AND FISCAL PERSPECTIVES

    Directory of Open Access Journals (Sweden)

    MARIANA GURAU

    2011-04-01

    Full Text Available Acknowledged by the accounting regulations conform to the European directives inside the alternative assessment norms, the revaluation of tangible assets is also accepted by the International Accounting Standards as an allowed alternative treatment. As there is a real interaction between accountancy and taxation, the present study aims to analyze the fiscal vision on the revaluation, the manner in which the above mentioned accepts the revaluation of tangible assets. It is a known fact that the accounting information is used by the taxation as an object and a support in order to determine and to settle the assessments, the taxes and the contributions. Still, the taxation authority reserves the rights to punctually impose some financial treatments distinct to the accounting rules. This also happens with the revaluation of tangible assets, and this is exactly what we emphasize in the present paper.

  14. Analysis of Fiscal Rules in the European Monetary Union

    OpenAIRE

    Šehović Damir

    2015-01-01

    The EMU fiscal system is specific in many areas compared to other classic fiscal systems of national states. Specific features mainly reflect in the implementation of economic policy within the EMU which is carried out by combining a common centralized monetary policy under the ECB jurisdiction and decentralized fiscal policies under the jurisdiction of the member states. The member states` sovereignty in governing their fiscal policies is one of the key causes of the EU fiscal system underde...

  15. Fiscal Transformation in Turkey over the Last Two Decades

    OpenAIRE

    Fatih Kaya; Selihan Yilar

    2011-01-01

    Turkey has made significant progress over the last two decades regarding fiscal consolidation and a strong reform of fiscal policy. The highly fragile country of the 1990s, whose primary fiscal concern was to sustain its public finances in the short term, has become a successful transition model. Now the authorities are discussing the adoption of fiscal rules as a new anchor in public finances. A draft Fiscal Rule Law was prepared and submitted to the parliament in 2010. This article examines...

  16. Policy Mix and Debt Sustainability: Evidence from Fiscal Policy Rules

    OpenAIRE

    Claeys, Peter

    2005-01-01

    This paper characterises rules-based fiscal policy setting. Basically, we translate a standard monetary policy rule into a simple fiscal policy rule. We then infer on fiscal policymakers' reaction coefficients by testing the rule with GMM. Interaction is also tested directly by the inclusion of monetary policy setting. Our results qualify existing evidence on systematic fiscal policy in two respects. First, fiscal policy usually stabilises public debt. And there is indeed substantial interact...

  17. Fiscal Decentralization in China: History, Impact, Challenges and Next Steps

    OpenAIRE

    Chunli Shen; Jing Jin; Heng-fu Zou

    2006-01-01

    Fiscal decentralization has been a fundamental aspect of China's transition to a market economy; and the country has made substantial efforts to break down its highly centralized fiscal management system with various forms of fiscal contracting systems (1978-1993) and later a tax sharing system (1994-present). The objectives of this paper are to provide a comprehensive review of China¡¯s experience in fiscal decentralization over the last decade, explore the impact of fiscal decentralization ...

  18. FISCAL REGIMES IN AND OUTSIDE THE MENA REGION

    OpenAIRE

    IBRAHIM AHMED ELBADAWI; RAIMUNDO SOTO

    2013-01-01

    The 1990s ushered the world not only into a democracy wave, following the collapse of the former Soviet Union, but also into a wave of Fiscal Rules, where the number of countries adopting this fiscal regime steadily rose from only 10 in 1990 to 97 in 2009. Countries that depend on hydrocarbons, in general, tend to suffer from fiscal policies that are highly susceptible to energy price shocks. This provides incentives for implementing fiscal stabilization instruments in the form of fiscal rule...

  19. Risk Assessment Under a Non-linear Fiscal Rule.

    OpenAIRE

    Christos Shiamptanis

    2012-01-01

    In the aftermath of the recent financial crisis and recession, governments' actions around the world suggest a non-linear responsiveness of fiscal policy to debt. Additionally, governments are realizing that they face fiscal limits on the size of debt that they can repay. The fiscal limits arise due to distortionary taxation and political will. This paper explores the implications of a non-linear fiscal rule coupled with fiscal limits on solvency crisis. We derive the restrictions on the non-...

  20. Fiscal planning of private electricity production projects

    International Nuclear Information System (INIS)

    Various fiscal considerations frequently encountered in the context of the planning of private electricity production projects were described. Two major themes were discussed: 1) the different jurisdictional vehicles that can be used during the planning of private electricity production projects and the associated fiscal considerations, and 2) the two main fiscal incentives of the Income Tax Act (Canada) which could impact on the financing and operation costs of such a project, namely the accelerated amortization and the possibility of deducting the costs associated to renewable energies and energy savings in Canada. This was a general presentation that did not go into specific details and did not represent a legal opinion. refs

  1. Consolidation under the Europe’s New Fiscal Rules: Analyzing the Implied Minimum Fiscal Effort

    OpenAIRE

    Kuusi, Tero

    2014-01-01

    The new EU fiscal framework builds on several overlapping target measures and convergence rules. Thus, it is not clear how strict goals the framework sets for public finances. In this paper we build a simulation framework that solves the minimum fiscal effort under different assumptions on the initial state of the economy and the expected economic conditions during the consolidation. We then use the model to analyze several fiscal consolidations. We find that Germany, France, Spain and Italy ...

  2. Tying hands is not commitment: can fiscal rules and institutions really enhance fiscal discipline?

    OpenAIRE

    Debrun, Xavier

    2006-01-01

    This paper discusses the role of fiscal institutions, including budget rules and non-partisan agencies, in enhancing fiscal discipline. A stylized model of fiscal policy illustrates that optimal institutions lack credibility unless the costs to bypass them are sufficiently high. To the extent that the deficit bias is related to electoral uncertainty, complete budgetary transparency and strong democratic accountability suffice to establish credibility. Under incomplete budgetary transparency, ...

  3. Fiscal Year 2014 Revegetation Assessment

    Energy Technology Data Exchange (ETDEWEB)

    Nordstrom, Jenifer [Idaho National Lab. (INL), Idaho Falls, ID (United States)

    2015-03-01

    This report summarizes the Fiscal Year 2014 Revegetation Assessment by Battelle Energy Alliance, LLC. This assessment was conducted to document revegetation efforts at Idaho National Laboratory to ensure that disturbed vegetation and soil at various locations are being restored. This report provides the following information for each site being monitored by the Idaho National Laboratory Environmental Support and Services: • Summary of each site • Assessment of vegetation status and site stabilization at each location • Actions and Resolutions for each site. Five disturbed sites were evaluated for this assessment. Four sites are recommended to be removed from the annual assessment, and one is recommended for continued evaluation. New sites are also identified for future monitoring as part of the annual assessment.

  4. Sherburne National Wildlife Refuge : Fiscal Year 2001

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Sherburne National Wildlife Refuge summarizes Refuge activities during the 2001 fiscal year. The report begins with an introduction...

  5. Yearly (Fiscal) Historical Electronic Services Report

    Data.gov (United States)

    Social Security Administration — This report contains yearly electronic services data for online applications. This report is updated monthly for the current fiscal year. The report is divided into...

  6. Planning and Accomplishment Narrative Fiscal Year 1973

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — This narrative report for Bombay Hook National Wildlife Refuge outlines Refuge accomplishments during the 1973 fiscal year. The report begins with a Refuge...

  7. THE LINK BETWEEN ACCOUNTING AND FISCAL EVASION

    Directory of Open Access Journals (Sweden)

    Silvia Lăzărescu (Marinescu

    2008-12-01

    Full Text Available In the literature, controversies have arisen concerning the link between accounting and fiscal evasion, which are the object of debates among specialists from different specialized organizations from many countries. Under the term of “creative accounting”, the American and European tax systems have made up an ensemble of accounting mechanisms and also of fiscal manipulation which increased the interest and involvement of the states in the mitigation of such fraud risks and fiscal subterfuges whose percentage in the countries’ GDP varies from 8 to 80%. Starting from the SWOT analysis of tax evasion in the real and underground economy, the specialists of the liberal trades are called to join the fight against fiscal fraud and share their professionalism in creating a real competitive environment characterized by fair play.

  8. Windom Wetland Management District : Fiscal Year 2000

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Windom Wetland Management District summarizes activities during the 2000 fiscal year. The report begins with an introduction to the...

  9. Windom Wetland Management District : Fiscal Year 2002

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Windom Wetland Management District summarizes activities during the 2002 fiscal year. The report begins with an introduction to the...

  10. Windom Wetland Management District : Fiscal Year 2003

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Windom Wetland Management District summarizes activities during the 2003 fiscal year. The report begins with an introduction to the...

  11. Windom Wetland Management District : Fiscal Year 2001

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Windom Wetland Management District summarizes activities during the 2001 fiscal year. The report begins with an introduction to the...

  12. Sherburne National Wildlife Refuge : Fiscal Year 2002

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Sherburne National Wildlife Refuge summarizes Refuge activities during the 2002 fiscal year. The report begins with an introduction...

  13. Sherburne National Wildlife Refuge : Fiscal Year 2000

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Sherburne National Wildlife Refuge summarizes Refuge activities during the 2000 fiscal year. The report begins with an introduction...

  14. Assessing Fiscal Sustainability in Theory and Practice

    OpenAIRE

    Nigel Andrew Chalk; Richard Hemming

    2000-01-01

    The main purpose of this paper is to provide an overview of approaches to assessing fiscal sustainability. It summarizes the general analytical background, focusing on the present value budget constraint, which is the benchmark against which solvency is determined, tests of sustainability (including sustainability indicators), and sustainability and uncertainty. The paper then looks at the way in which fiscal sustainability has been assessed in different types of IMF work. Finally the link be...

  15. Fiscal Adjustment and Business Cycle Synchronization

    OpenAIRE

    Luca Agnello; Guglielmo Maria Caporale; Ricardo M. Sousa

    2013-01-01

    Using a panel of annual data for 20 countries we show that synchronized fiscal consolidation (stimulus) programmes in different countries make their business cycles more closely linked, especially in the case of fiscal adjustments lasting 2 or 3 years. We also find: (i) little evidence of decoupling when an inflation targeting regime is unilaterally adopted; (ii) an increase in business cycle synchronization when countries fix their exchange rates and become members of a monetary union; (iii)...

  16. Fiscal adjustments and business cycle synchronization

    OpenAIRE

    Agnello, Luca; Caporale, Guglielmo Maria; Ricardo M. Sousa

    2013-01-01

    Using a panel of annual data for 20 countries we show that synchronized fiscal consolidation (stimulus) programmes in different countries make their business cycles more closely linked, especially in the case of fiscal adjustments lasting 2 or 3 years. We also find: (i) little evidence of decoupling when an inflation targeting regime is unilaterally adopted; (ii) an increase in business cycle synchronization when countries fix their exchange rates and become members of a monetary union; (iii)...

  17. Budgeting and Fiscal Management in Transitional Economies

    OpenAIRE

    Jorge Martinez-Vazquez; Jameson Boex

    2000-01-01

    The past ten years have been witness to one of the largest experiments in economic history, namely the transition of centrally planned economies to market-based economies. While policy reform in transitional countries has encompassed virtually every sector of the economy, modernization of public sector budgeting practices and fiscal management techniques have been widely recognized as critical to the success of the economic transition experiment. However, the breadth and pace of fiscal manage...

  18. Monetary and Fiscal Management, Finance, and Growth

    OpenAIRE

    Gylfason, Thorvaldur

    2004-01-01

    This lecture addresses three related aspects of monetary and fiscal management in Europe and elsewhere. First, I discuss the implications of economic integration for monetary and fiscal policy, especially the narrow focus on low inflation as the main objective of monetary policy. I argue that because inflation springs from several sources, monetary authorities held responsible by law for maintaining low inflation need to exercise their newfound independence by reserving the right to address a...

  19. Fiscal Policy for Inclusive Growth: An Overview

    OpenAIRE

    Gemma ESTRADA; Lee, Sang-Hyop; Park, Donghyun

    2014-01-01

    In recent years, inequality has risen in the region alongside rapid economic growth. The widening income gap strengthens the case for a government response, and fiscal policy is one of the most suitable policy instruments to promote a more equitable society that provides opportunities for all. Developing Asia has trailed other parts of the world in equity-promoting fiscal expenditures, namely education, health care, and social protection, and thus the region needs to do more. Expanding public...

  20. The Economic and Fiscal Impacts of Immigration

    OpenAIRE

    Bolin, Tim

    2006-01-01

    Immigration is a hotly contested policy issue in the United States. Diametrically opposed advocacy groups exchange counterclaims on immigration’s blessings or banes, sometimes with little pretext of objectivity. However, recent decades have also seen a growing body of nonpartisan scholarly analysis of immigration’s fiscal and economic impact in the US. An exploration of such study finds that the preponderance of evidence points to positive net fiscal and economic impacts—albeit modest ones—an...

  1. Fiscal and Externality Rationales for Alcohol Taxes

    OpenAIRE

    Parry, Ian W.H.; Laxminarayan, Ramanan; West, Sarah E.

    2006-01-01

    This paper develops and implements an analytical framework for estimating the optimal levels and welfare effects of alcohol taxes and drunk-driver penalties, accounting for externalities and how policies interact with the broader fiscal system. We find that the fiscal component of the optimal alcohol tax exceeds the externality-correcting component under many parameter scenarios and assumptions about revenue recycling; overall, the optimal tax is anything from three to more than ten times the...

  2. COMPARATIVE STUDY ON ACCOUNTING AND FISCAL AMORTIZATION

    OpenAIRE

    MARIANA GURAU; MARIA ZENOVIA GRIGORE

    2012-01-01

    Placed in the international trend, Romanian accounting had experienced various changes, especially as regards of progress on disconnection between accounting and fiscality. In the present, fiscal rules should not have any role in accounting decisions, because accounting rules are applied to produce accounting information that is useful in making decisions and to provide a "true and fair view" upon financial reality of the entity. However, the barrier in the habit of accounting to thinking for...

  3. Subnational Government Structure and Intergovernmental Fiscal Relations

    OpenAIRE

    Jameson Boex; Jorge Martinez-Vazquez; Andrey Timofeev

    2004-01-01

    Many countries around the world are currently engaged in one way or another in policy debates or reforms of their system of intergovernmental fiscal relations. While the policy dynamics vary greatly from country to country, the focus of such reform efforts can generally be categorized into one of the four main dimensions of intergovernmental fiscal relations, namely the assignment of functional responsibilities (expenditure assignments), the assignment of revenue sources, the provision of int...

  4. Fiscal Reform in European Economies in Transition

    OpenAIRE

    George Kopits

    1991-01-01

    Most European economies in transition are engaged in public sector reform aimed mainly at replacing the previous fiscal system subordinated to the central plan with a system where fiscal instruments can make a distinct contribution to stabilization, equity, and efficiency. This paper examines past progress and future tasks in major reform areas: taxation, subsidies, social security, public investment, public enterprises, government debt, and intergovernmental relations. An overview of the fis...

  5. Fiscal Revenues and Commitment in Immigration Amnesties

    OpenAIRE

    Francesco Magris; Giuseppe Russo

    2012-01-01

    Reasons to grant immigration amnesties include the intention to reduce the weight of the informal sector and the attempt to identify employers of undocumented workers. However, it is incontestable that potential fiscal gains are important: tax revenues are crucial in all kinds of amnesties. Nevertheless, over the last 30 years 24% of applications have been rejected. It is still unexplained why governments accept this loss of fiscal base. We argue that applying for amnesty is basically selfinc...

  6. Budget estimates fiscal year 1995: Volume 10

    Energy Technology Data Exchange (ETDEWEB)

    1994-02-01

    This report contains the Nuclear Regulatory Commission (NRC) fiscal year budget justification to Congress. The budget provides estimates for salaries and expenses and for the Office of the Inspector General for fiscal year 1995. The NRC 1995 budget request is $546,497,000. This is an increase of $11,497,000 above the proposed level for FY 1994. The NRC FY 1995 budget request is 3,218 FTEs. This is a decrease of 75 FTEs below the 1994 proposed level.

  7. State Public Debt Laws and Fiscal Performance

    OpenAIRE

    César Velázquez

    2006-01-01

    Institutions play a fundamental role on the fiscal performance of governments. In the literature of federalism, fiscal institutions are one possible way to control subnational debt that may cause problems in the financial sector and affect a country's macroeconomic stability. This is particular relevant in developing countries where problems of soft-budget constraints at the regional and local level are more common and reliance on market discipline is harder. This paper studies the impact of ...

  8. Fiscal Convergence in an Enlarged European Union

    OpenAIRE

    Georgeta VINTILĂ; Mihaela ONOFREI; Ioana Laura ŢIBULCĂ

    2014-01-01

    Taxation convergence in the European Union has always been a heatedly debated issue, and it has constantly resurfaced to the limelight as more and more fiscal directive proposals are being discussed. The current study is an analysis of the evolution of taxation convergence tendencies within the European Union in recent years, using sigma-convergence and cluster analysis. Our goal is to analyze the fiscal convergence trends in the context of European Union enlargement over the last two decades.

  9. Reforma fiscal en México

    OpenAIRE

    Horacio Sobarzo

    2004-01-01

    This document reports the results of an applied general equilibrium model built to evaluate the fiscal reform initiative of the Mexican government. Taking public revenues as endogenous and tax rates as exogenous variables, the model incorporates in an explicit manner both the tax structure of the Mexican economy and the oil exporting sector as an important source of government revenue. The results confirm that, to a great extent, the so-called fiscal problem in Mexico stems from a low degree ...

  10. Financial Fragility and the Fiscal Multiplier

    OpenAIRE

    van Wijnbergen, Sweder; van der Kwaak, Christiaan

    2014-01-01

    We investigate the effectiveness of `Keynesian' fiscal stimuli when government deficits and debt rollovers are (possibly partially) financed by balance sheet constrained financial intermediaries. Because financial intermediaries operate under a leverage constraint, deficit financing of fiscal stimulus packages will cause interest rates to rise as private loans are crowded out by government debt in the credit provision channel. This lowers investment and (future) capital stocks, which affects ...

  11. FISCAL DISCIPLINE WITHIN THE EU: COMPARATIVE ANALYSIS

    Directory of Open Access Journals (Sweden)

    SORIN CELEA

    2013-12-01

    Full Text Available This paper focuses on the analysis of the convergence indicators relative to fiscal area in the EU; subsequent to a description of the main peculiarities of the convergence criteria, the reseach develops a critical analysis on a comparative perspective of the actual values of fiscal convergence indicators registered in EU countries compared with the reference values of the indicators, with emphasis on the differences between emerging and developed countries.

  12. Productive government expenditure and fiscal sustainability

    OpenAIRE

    Arai, Real

    2008-01-01

    We consider an overlapping generations model in which public spending directly contributes to grow up productivity as Barro (1990) and a government comforts the constant spending-GDP and debtspending ratio rules. We analyse policy effects on fiscal sustainability, growth rate and welfare. This paper gives some remarks as follows: First, we demonstrate that when spending-GDP ratio rises it may be more sustainable fiscal policy. Second, we show analytically that if higher spending-GDP ratio is ...

  13. Fiscal decentralization and Pollution: Institutions Matter

    OpenAIRE

    Farzanegan, Mohammad Reza; Mennel, Tim

    2012-01-01

    We estimate the impact of fiscal decentralization on different indicators of pollution for more than 80 countries from 1970 to 2000. Our cross country estimates show that fiscal decentralization increases pollution. However, higher quality of institutions can limit the destructive environmental effects of decentralization. The empirical results confirm a strand of the literature on decentralization that predicts a “race to the bottom” under federalism. The mitigating effect of good governance...

  14. Fiscal forecast errors: governments vs independent agencies?

    OpenAIRE

    Rossana Merola; Pérez, Javier J.

    2012-01-01

    The fact that the literature tends to find optimistic biases in national fiscal projections has led to a growing recognition in the academic and policy arenas of the need for independent forecasts in the fiscal domain, prepared by independent agencies, such as the European Commission in the case of Europe. Against this background the aim of this paper is to test: (i) whether the forecasting performance of governments is indeed worse than that of international organizations, and (ii) whether f...

  15. Federal fiscal relations in Australia - 2001.

    OpenAIRE

    Bob Searle

    2002-01-01

    This paper provides a detailed description of fiscal federal relations in Australian. The keystone to those relationships is the application by the Commonwealth Grants Commission of the principle of fiscal equalisation - that each State should be able to provide the same standard of services to its population, if it operates at the same level of efficiency and makes the same effort to raise revenues from its own sources. The Paper pays particular attention to the processes by which this princ...

  16. Global Crises, fiscal space and national response

    OpenAIRE

    Sundaram, A

    2013-01-01

    The main aim of this paper is to examine the impacts of the crisis on fiscal space and government social spending. It also examines the design and implementation of national rescue packages, concentrating in particular on the composition of stimulus packages in terms of social protection and employment measures. This study analyses data from the year 2000 to 2011 in order to find out the Global Crises, fiscal space and national response. In this analysis various secondary sources have been us...

  17. Budget estimates fiscal year 1995: Volume 10

    International Nuclear Information System (INIS)

    This report contains the Nuclear Regulatory Commission (NRC) fiscal year budget justification to Congress. The budget provides estimates for salaries and expenses and for the Office of the Inspector General for fiscal year 1995. The NRC 1995 budget request is $546,497,000. This is an increase of $11,497,000 above the proposed level for FY 1994. The NRC FY 1995 budget request is 3,218 FTEs. This is a decrease of 75 FTEs below the 1994 proposed level

  18. Fiscal Convergence in an Enlarged European Union

    Directory of Open Access Journals (Sweden)

    Georgeta VINTILĂ

    2014-02-01

    Full Text Available Taxation convergence in the European Union has always been a heatedly debated issue, and it has constantly resurfaced to the limelight as more and more fiscal directive proposals are being discussed. The current study is an analysis of the evolution of taxation convergence tendencies within the European Union in recent years, using sigma-convergence and cluster analysis. Our goal is to analyze the fiscal convergence trends in the context of European Union enlargement over the last two decades.

  19. Reorienting fiscal policy after the great recession

    OpenAIRE

    Pavlina R. Tcherneva

    2012-01-01

    The paper evaluates the fiscal policy initiatives during the Great Recession in the United States. It argues that, although the nonconventional fiscal policies targeted at the financial sector dwarfed the conventional countercyclical stabilization efforts directed toward the real sector, the relatively disappointing impact on employment was a result of misdirected funding priorities combined with an exclusive and ill-advised focus on the output gap rather than on the employment gap. The paper...

  20. Fiscal multipliers in war and in peace

    OpenAIRE

    David Andolfatto

    2010-01-01

    Proponents of fiscal stimulus argue that government spending is needed to replace the private spending normally lost during a recession. Estimates of the so-called fiscal multiplier based on wartime episodes are used to support the proposition that a peacetime intervention can "stimulate" the economy in a desirable manner. The author argues that a wartime crisis is fundamentally different from a peacetime economic crisis. What may be desirable in war is not necessarily so in peace. This is de...

  1. NET FISCAL STIMULUS DURING THE GREAT RECESSION

    OpenAIRE

    Aizenman, Joshua; Pasricha, Gurnain Kaur

    2011-01-01

    This paper studies the patterns of fiscal stimuli in the OECD countries propagated by the global crisis. Overall, we find that the USA net fiscal stimulus was modest relative to peers, despite it being the epicenter of the crisis, and having access to relatively cheap funding of its twin deficits. The USA is ranked at the bottom third in terms of the rate of expansion of the consolidated government consumption and investment of the 28 countries in sample. Contrary to historical experience, em...

  2. Taxation, Fiscal Deficit and Inflation in Pakistan

    Directory of Open Access Journals (Sweden)

    Ghulam Rasool Madni

    2014-09-01

    Full Text Available Fiscal policy has more controversial debate regarding its effectiveness on different macroeconomic activities of an economy. Taxation and government expenditure are two main instruments of fiscal policy. This paper is aimed to analyze and update the effects of different instruments of fiscal policy on inflation in Pakistan economy. The data time span for this study is 1979-2013. The impact of fiscal policy on inflation is analyzed by utilizing the Bounds testing procedure and ARDL approach of co-integration which is a better estimation technique for small sample size. It is found that investment negatively and significantly affect the inflation rate. The outcomes of the study show that both types of taxes (direct and indirect are causing to increase the inflation level while fiscal deficit is also one of the reasons to increase the inflation in the country. The study proposed that government should decrease the level of expenditure to reduce the level of fiscal deficit and investment have to be promoted to decrease the inflation in the country. Furthermore, it is also suggested to decrease the level of taxation for controlling inflation.

  3. Naval Petroleum and Oil Shale Reserves. Annual report of operations, Fiscal year 1993

    Energy Technology Data Exchange (ETDEWEB)

    1993-12-31

    During fiscal year 1993, the reserves generated $440 million in revenues, a $33 million decrease from the fiscal year 1992 revenues, primarily due to significant decreases in oil and natural gas prices. Total costs were $207 million, resulting in net cash flow of $233 million, compared with $273 million in fiscal year 1992. From 1976 through fiscal year 1993, the Naval Petroleum and Oil Shale Reserves generated $15.7 billion in revenues for the US Treasury, with expenses of $2.9 billion. The net revenues of $12.8 billion represent a return on costs of 441 percent. See figures 2, 3, and 4. In fiscal year 1993, production at the Naval Petroleum and Oil Shale Reserves at maximum efficient rates yielded 25 million barrels of crude oil, 123 billion cubic feet of natural gas, and 158 million gallons of natural gas liquids. The Naval Petroleum and Oil Shale Reserves has embarked on an effort to identify additional hydrocarbon resources on the reserves for future production. In 1993, in cooperation with the US Geological Survey, the Department initiated a project to assess the oil and gas potential of the program`s oil shale reserves, which remain largely unexplored. These reserves, which total a land area of more than 145,000 acres and are located in Colorado and Utah, are favorably situated in oil and gas producing regions and are likely to contain significant hydrocarbon deposits. Alternatively the producing assets may be sold or leased if that will produce the most value. This task will continue through the first quarter of fiscal year 1994.

  4. Naval Petroleum and Oil Shale Reserves. Annual report of operations, Fiscal year 1993

    International Nuclear Information System (INIS)

    During fiscal year 1993, the reserves generated $440 million in revenues, a $33 million decrease from the fiscal year 1992 revenues, primarily due to significant decreases in oil and natural gas prices. Total costs were $207 million, resulting in net cash flow of $233 million, compared with $273 million in fiscal year 1992. From 1976 through fiscal year 1993, the Naval Petroleum and Oil Shale Reserves generated $15.7 billion in revenues for the US Treasury, with expenses of $2.9 billion. The net revenues of $12.8 billion represent a return on costs of 441 percent. See figures 2, 3, and 4. In fiscal year 1993, production at the Naval Petroleum and Oil Shale Reserves at maximum efficient rates yielded 25 million barrels of crude oil, 123 billion cubic feet of natural gas, and 158 million gallons of natural gas liquids. The Naval Petroleum and Oil Shale Reserves has embarked on an effort to identify additional hydrocarbon resources on the reserves for future production. In 1993, in cooperation with the US Geological Survey, the Department initiated a project to assess the oil and gas potential of the program's oil shale reserves, which remain largely unexplored. These reserves, which total a land area of more than 145,000 acres and are located in Colorado and Utah, are favorably situated in oil and gas producing regions and are likely to contain significant hydrocarbon deposits. Alternatively the producing assets may be sold or leased if that will produce the most value. This task will continue through the first quarter of fiscal year 1994

  5. Ingresos fiscales petroleros y política fiscal óptima

    OpenAIRE

    Alejandro Villagómez; Alejandro Castañeda

    2007-01-01

    This paper deals with the fiscal implications of a stabilization fund that allows for a stable consumption over time, in particular in the case of an oil producing and exporting country like Mexico. We present a model of optimal fiscal policy in the context of a country with important revenues generated by an exhaustible resource such as oil.

  6. Fiscal Policy in Urban Education. A Volume in Research in Education Fiscal Policy and Practice.

    Science.gov (United States)

    Roellke, Christopher, Ed.; Rice, Jennifer King, Ed.

    This volume focuses on school finance challenges in large urban school districts, fiscal accountability in these schools, and the fiscal dimensions of urban school reform. The 12 papers are (1) "School Finance and Urban Education Reform" (Christopher Roellke and Jennifer King Rice); (2) "Can Whole-School Reform Improve the Productivity of Urban…

  7. Analysis of Fiscal Rules in the European Monetary Union

    Directory of Open Access Journals (Sweden)

    Šehović Damir

    2015-01-01

    Full Text Available : The EMU fiscal system is specific in many areas compared to other classic fiscal systems of national states. Specific features mainly reflect in the implementation of economic policy within the EMU which is carried out by combining a common centralized monetary policy under the ECB jurisdiction and decentralized fiscal policies under the jurisdiction of the member states. The member states` sovereignty in governing their fiscal policies is one of the key causes of the EU fiscal system underdevelopment, i.e. its indigent structure in relation to “standard fiscal systems”.

  8. Elements for fiscal energy policy. Elementi per una politica fiscale sull'energia

    Energy Technology Data Exchange (ETDEWEB)

    Sartori, P.; D' Angelo, E.

    1990-01-01

    The energy surcharge policies of various developed countries are compared for different types of fossil fuels, and for electric power. This analysis is followed by a critical evaluation of the positions taken by renown fiscal policy strategists and of the impacts of fiscal policies on overall economic and energy policies. With regard to the planned European Common Market, the question of fiscal policy harmonization is examined in detail, and a look is given at the probable impacts upon Italy's energy system. An analysis of the role of Italian institutions leads to the assertion that there exists a strict correlation between the nation's fiscal system and energy policy, and that economic problems appear to override those which are purely of a technical nature in the creation of a sound fiscal policy.

  9. Judges as Fiscal Activists: Can Constitutional Review Shape Public Finance?

    Directory of Open Access Journals (Sweden)

    Kantorowicz Jarosław

    2014-07-01

    Full Text Available The judicialization of politics, or alternatively, politization of the judiciary has been much discussed over the last twenty years. Despite this, the way judges influence fiscal policy outcomes remains, to a large extent, unexplored. This paper attempts, at least partially, to fill this research gap. A judicial (constitutional review constitutes the central element of the current analysis since it is considered as a key institutional device through which Constitutional (Supreme Courts intervene in politics, including public finance. Specifically, this paper seeks to investigate empirically whether there is any systematic pattern according to which judges executing judicial review shape fiscal outcomes. The conceptual framework is based on the strategic interaction model and the assumption that the Constitutional Courts reflect public opinion (i.e. the Court as a majoritarian institution. Some preliminary results for a panel of 24 EU countries in the period 1995–2005 suggest that a strong judicial review correlates with a smaller size of government, measured as government income to GDP.

  10. On the Logic of Separating the Fiscal Policy from the Fiscal Administration

    Directory of Open Access Journals (Sweden)

    Ionel Leonida

    2010-06-01

    Full Text Available One of the problems yet to be solved in a satisfactorily manner in Romania is the decentralisation of the public administration. In general, by decentralisation we understand the separation of the central decision from the local (or regional decision based on the principle of subsidiarity. In our opinion, The National Agency for Fiscal Administration should function, in a decentralised manner, meaning outside of the Ministry of Public Finances. In support of this statement we will present two modules or arguments: a wewill first debate on the matter of public administration decentralisation; b second, we will debate in favour ofthe institutional separation of ANAF from the Ministry of Public Finances. Objectives: Implementation of concrete desire for decentralization of public administration; Identification of conceptual distinctions, structural and functional development of tax policy and administration of fiscal policy. Prior work: Assessment of net tax burden; Phillips curve assessment for Romania; Automatic fiscal stabilizers; Sustainability of fiscal policy. Approach: Logical analysis of the concepts involved in the study; Highlighting the distinctions of semantic and pragmatic nature of the concepts involved in the study. Results: decisive arguments concerning the desirability of the structural separation of the fiscal policy from the fiscal administration. Implications: providing arguments for a separation of fiscal policy decision to tax administration; a collection efficiency of budgetary obligations. Potential beneficiaries : The Ministry of Finance; the National Agency for Fiscal Administration; the Government of Romania; the Ministry ofInternal Affairs and Administration. Value: Contributions from conceptual nature: semantic separation of fiscal policy from tax administration; from methodological nature: demonstrating scientific research force of un application logic analysis method; from empirical nature: demonstrating the need

  11. The European Fiscal Union creation process

    Directory of Open Access Journals (Sweden)

    Oleksandr Sharov

    2015-06-01

    Full Text Available The paper presents evolution of the European Union fiscal system creation process as well as outlines problems in functioning thereof that have arisen during recent years and the main reforming (modification trends. The analysis is primarily focused on creation of the fiscal union within the EU. In this regard, the idea of two different groups of countries moving to the common goal at different paces is becoming ever increasingly much-talked-about in the EU. The first group comprises donor countries that adhere to all treaties and fiscal discipline, while demonstrating respective positive macroeconomic indicators. The second group implies countries of Euro-periphery, where the above processes take place along with significant complications or do not occur at all. In these countries Eurosceptic positions are also quite strong, which often leads to taking measures contrary to the jointly adopted decisions. Currently, there is no clear understanding within the EU as to which way out of the crisis should be taken. However, profound understanding of the crisis causes and active work on preparation and implementation of measures to overcome the negative effects of this crisis suggest availability of sufficiently favorable prospects for further development of the EU fiscal system (including formal creation of the Fiscal Union. Based on the conducted analysis conclusions have been made as to potential vectors of action aimed at improving EU fiscal system, while specific recommendations on actions to be taken by Ukraine have been developed (particularly, as regards budget forecasting and planning with the purpose of harmonizing Ukrainian financial institutions and mechanisms with the EU fiscal system.

  12. Fiscal Policy: Lessons from the Global Crisis

    Directory of Open Access Journals (Sweden)

    Neven Mates

    2011-04-01

    Full Text Available The global crisis interacted heavily with fiscal policy in the run-up to the crisis, during the crisis and now in the recovery phase. Contrary to the general consensus, the paper argues that in the run-up to the crisis, fiscal policy in the advanced economies and China substantially contributed to the propagation of the global imbalances, while at the same time it reduced the fiscal space that was available to the advanced countries when the crisis occurred. On the policy response during the crisis, the paper suggests that the discretionary relaxation was a mixed blessing at best: appropriate to some extent in countries that entered the crisis with solid fiscal and current account positions, but much less, if at all, in other countries, particularly those that faced problems of public debt sustainability. Even letting the automatic stabilizers operate fully was not an option for countries in a weak fiscal position, particularly in light of the substantial downward revisions in the potential GDP level and growth rates. Looking ahead, the large deterioration in the public debt ratios resulting from the crisis will slow down output growth in the advanced economies, while also requiring painful fiscal adjustment. Emerging market economies, in general, did better in the crisis than the advanced economies, but in most of the post-transition European economies, the effects of the crisis were amplified by the pronounced external imbalances at the outset of the crisis. A majority of European post-transition countries will, therefore, also face substantial fiscal challenges in the period ahead.

  13. Brookhaven highlights for fiscal year 1991, October 1, 1990--September 30, 1991

    Energy Technology Data Exchange (ETDEWEB)

    Rowe, M.S.; Cohen, A.; Greenberg, D.; Seubert, L.; Kuper, J.B.H.

    1991-12-31

    This report highlights Brookhaven National Laboratory`s activities for fiscal year 1991. Topics from the four research divisions: Computing and Communications, Instrumentation, Reactors, and Safety and Environmental Protection are presented. The research programs at Brookhaven are diverse, as is reflected by the nine different scientific departments: Accelerator Development, Alternating Gradient Synchrotron, Applied Science, Biology, Chemistry, Medical, National Synchrotron Light Source, Nuclear Energy, and Physics. Administrative and managerial information about Brookhaven are also disclosed. (GHH)

  14. Brookhaven highlights for fiscal year 1991, October 1, 1990--September 30, 1991

    Energy Technology Data Exchange (ETDEWEB)

    Rowe, M.S.; Cohen, A.; Greenberg, D.; Seubert, L.; Kuper, J.B.H.

    1991-01-01

    This report highlights Brookhaven National Laboratory's activities for fiscal year 1991. Topics from the four research divisions: Computing and Communications, Instrumentation, Reactors, and Safety and Environmental Protection are presented. The research programs at Brookhaven are diverse, as is reflected by the nine different scientific departments: Accelerator Development, Alternating Gradient Synchrotron, Applied Science, Biology, Chemistry, Medical, National Synchrotron Light Source, Nuclear Energy, and Physics. Administrative and managerial information about Brookhaven are also disclosed. (GHH)

  15. Brookhaven highlights for fiscal year 1991, October 1, 1990--September 30, 1991

    International Nuclear Information System (INIS)

    This report highlights Brookhaven National Laboratory's activities for fiscal year 1991. Topics from the four research divisions: Computing and Communications, Instrumentation, Reactors, and Safety and Environmental Protection are presented. The research programs at Brookhaven are diverse, as is reflected by the nine different scientific departments: Accelerator Development, Alternating Gradient Synchrotron, Applied Science, Biology, Chemistry, Medical, National Synchrotron Light Source, Nuclear Energy, and Physics. Administrative and managerial information about Brookhaven are also disclosed

  16. Dealing with the Dutch disease: Fiscal rules and macro-prudential policies

    OpenAIRE

    García-Cicco, Javier; Kawamura, Enrique

    2015-01-01

    This paper evaluates from a welfare perspective three policy alternatives for dealing with Dutch disease problems originating from cyclical movements in commodity prices: fiscal rules for government expenditures, capital controls, and taxes on domestic lending. A DSGE model of a small open economy is developed, with a sectoral decomposition that features three distinctive characteristics: financial frictions, a learning-by-doing externality in the industrial sector, and a fraction of househol...

  17. DECWEB - Internet Fiscal Statement Submission

    Directory of Open Access Journals (Sweden)

    Mihai Ianciu

    2009-12-01

    Full Text Available

    The latest technologies are used not only in business, considered the most dynamic field of activity, but also in Governmental strategies of interaction with the civil society and  the business environment. The governmental functional and technological requirements created new concepts and approaches of electronic business (G2G, G2B, and G2C. In Romania, the Ministry of Communications and Information Technology was the trend setter. It developed a large number of proofs of concept and pilot projects covering a wide area of services that needed to evolve electronically. Together with the Ministry of Public Finance, it defined the requirements and specifications for DECWEB, the programme that allows companies to submit their fiscal statements via Internet.

    DECWEB system is a keystone programme for the Ministry of Public Finance on its way towards moving administration and services for society to information age. Highly awarded, the first DECWEB initiative was a successful proof of concept and it needed to be upgraded to a new professional version with extended functionalities, higher flexibility and advanced security mechanisms. This paper describes the DECWEB project and how technology and professional services enhanced Governmental activities, why the project was such a success and how it will evolve.

  18. DECWEB - Internet Fiscal Statement Submission

    Directory of Open Access Journals (Sweden)

    Mihai Ianciu

    2009-12-01

    Full Text Available The latest technologies are used not only in business, considered the most dynamic field of activity, but also in Governmental strategies of interaction with the civil society and  the business environment. The governmental functional and technological requirements created new concepts and approaches of electronic business (G2G, G2B, and G2C. In Romania, the Ministry of Communications and Information Technology was the trend setter. It developed a large number of proofs of concept and pilot projects covering a wide area of services that needed to evolve electronically. Together with the Ministry of Public Finance, it defined the requirements and specifications for DECWEB, the programme that allows companies to submit their fiscal statements via Internet. DECWEB system is a keystone programme for the Ministry of Public Finance on its way towards moving administration and services for society to information age. Highly awarded, the first DECWEB initiative was a successful proof of concept and it needed to be upgraded to a new professional version with extended functionalities, higher flexibility and advanced security mechanisms. This paper describes the DECWEB project and how technology and professional services enhanced Governmental activities, why the project was such a success and how it will evolve.

  19. Shocks Externos y Política Fiscal

    OpenAIRE

    Osvaldo Larrañaga; Jorge Marshall

    1992-01-01

    This paper studies the effect of external shocks on fiscal policy in the developing economies. Following a survey of recent experiences regarding fiscal responses to external shocks the paper offers a basic analytical framework to analyze the issue. The c

  20. Assessing the impact of fiscal measures on the Czech economy

    Czech Academy of Sciences Publication Activity Database

    Ambriško, Róbert; Babecký, J.; Ryšánek, J.; Valenta, V.

    2015-01-01

    Roč. 44, January (2015), s. 350-357. ISSN 0264-9993 Institutional support: PRVOUK-P23 Keywords : Bayesian estimation * fiscal multipliers * fiscal policy Subject RIV: AH - Economics Impact factor: 0.827, year: 2014

  1. Equilibrium Implications of Fiscal Policy with Tax Evasion

    DEFF Research Database (Denmark)

    Busato, Francesco; Chiarini, Bruno; Rey, Guido M.

    This paper studies equilibrium effects of fiscal policy disturbances within a dynamic general equilibrium model where tax evasion and underground activities are explicitly incorporated. There are three mainresults. (i) The underground sector mitigates the distortionary impact of fiscal policies, ...

  2. Number of New Leases Issued During Fiscal Year by BLM

    Data.gov (United States)

    Bureau of Land Management, Department of the Interior — This table contains the total number of new leases, by state, issued by the BLM during each fiscal year. Leases issued over the course of a fiscal year may or may...

  3. Mistakes in the Fiscal Policy in Spain before the Crisis

    OpenAIRE

    Ferreiro Jesús; Gómez Carmen; Serrano Felipe

    2013-01-01

    The paper analyses the mistakes made in the management of the fiscal policy in Spain before the crisis. The authors argue that the low size of the public expenditures, the adoption of a procyclical expansionary fiscal policy the years before the crisis, and the lack of a correct coordination between the Spanish fiscal policy and the ECB’s monetary policy, are key elements to understand the depth and length of the economic crisis and the current high fiscal imbalances in Spain.

  4. Managing the Oil Revenue Boom; The Role of Fiscal Institutions

    OpenAIRE

    Mauricio Villafuerte; Rolando Ossowski; Theo Thomas; Paulo A. Medas

    2008-01-01

    Oil-producing countries have benefited from rising oil prices in recent years. The increase in oil exports and oil revenues has had major implications for these countries. These developments have revealed how governments manage their fiscal policies in light of changing oil-market conditions and the role of special fiscal institutions (SFIs). In this Occasional Paper, IMF experts examine the fiscal response of oil-producing countries to the recent oil boom and the role of SFIs in fiscal manag...

  5. Lack of fiscal discipline: Challenges and possible solutions

    OpenAIRE

    Ćirović Nikola

    2013-01-01

    The lack of fiscal discipline is one of the most pressing issues in the framework of various economic systems today. The consequences of the global economic crisis have shown all the weaknesses of measures and mechanisms in terms of decision-making in fiscal policy. This problem can be seen now in almost every country. The problem of inadequate implementation of fiscal policy and the maintenance of fiscal discipline is reflected in the fact that their conse...

  6. Federal Transfers and Fiscal Discipline in India: An Empirical Evaluation

    OpenAIRE

    Bhatt, Antra; Scaramozzino, Pasquale

    2015-01-01

    This paper examines the relationship between federal transfers and fiscal deficits in India. The system of federal transfers has been criticized on the grounds that it distorts the incentives for states to promote fiscal discipline. We analyze the relationship between transfers, state domestic product, and fiscal deficit for a panel of states during the period 1990–2010. The paper finds a positive long-run relationship and bi-directional causality between primary/gross fiscal deficits and non...

  7. The Impact of Fiscal Policy to the Kosovo Economical Development

    OpenAIRE

    Gani Asllani

    2011-01-01

    The aim of this study is defining and finding fiscal politics in the function of the development of our economy in this transition phase as well as identifying the fiscal measures to overpass the existing difficulties within future development framework of the country. The paper contains very important data regarding the level of economic charges with taxes, comparison of fiscal charge of some important economies of Europe and world with fiscal charges of our economy. General conclusion from ...

  8. An Empirical Study on Fiscal Sustainability in Malaysia

    OpenAIRE

    Hussin Abdullah; Muszafarshah Mohd Mustafa; Jauhari Dahalan

    2012-01-01

    Fiscal sustainability has become a prominent issue in developing countries, and fiscal sustainability assessments have become an increasingly demanded component of macroeconomic analysis. Unfortunately, there is no single basic source of information on fiscal sustainability. Country economists who are new to fiscal sustainability analysis could rely on sample work by other economists and could delve into scattered journal articles for the theoretical background. This paper focuses on a partic...

  9. CONSIDERATION REGARDING TO THE FISCAL REGULATIONS IN SOME EUROPEAN STATES

    Directory of Open Access Journals (Sweden)

    Ardeleanu-Popa Carmen

    2010-12-01

    Full Text Available It can be observed, that the member states of the European Union were guided to implement some reforms in the domain of fiscal politics, the aim of which would constitute in fighting and eliminating the damaging fiscal competition, of the differences regarding to indirect fiscality, etc. Without this political fiscal instrument coordinated by the members of the European Union, the free traffic of capitals could be transformed into a determinant factor of the cross-border fraud.

  10. Monetary union without fiscal coordination may discipline policymakers

    OpenAIRE

    R. Beetsma; Bovenberg, A.L.

    1995-01-01

    We show that, with benevolent policymakers and fiscal leadership, monetary unification reduces inflation, taxes and public spending. These disciplining effects of a monetary union, which rise with the number of fiscal players in the union, are likely to raise welfare. Joining an optimally designed monetary union is particularly attractive if fiscal authorities do not care about inflation. Fiscal coordination offsets the disciplining effects of monetary unification. Hence, subsidiarity in fisc...

  11. Fixed versus Flexible Exchange Rates: Which Provides More Fiscal Discipline?

    OpenAIRE

    Aaron Tornell; Andres Velasco

    1995-01-01

    In recent years the conventional wisdom has held that fixed rates provide more fiscal discipline than do flexible rates. In this paper we show that this wisdom need not hold in a standard model in which fiscal policy is endogenously determined by a maximizing fiscal authority. The claim that fixed rates induce more discipline stresses that sustained adoption of lax fiscal policies must eventually lead to an exhaustion of reserves and thus to a politically costly collapse of the peg. Hence, un...

  12. LINK OF FISCAL DECENTRALIZATION TO POVERTY REDUCTION: INDONESIAN CONTEXT

    OpenAIRE

    Rr. Sita Dewi Kusumaningrum

    2013-01-01

    Abstract: Link of Fiscal Decentralization to Poverty Reduction: Indonesian Context. It is identified from the literature studies that there are links between fiscal decentralization and poverty reduction. However, the links occurs in different ways among countries and local governments. This is a preliminary study which aims at observing the potential link pattern of fiscal decentralization to poverty reduction in Indonesian provinces before and in the period of fiscal decentralization implem...

  13. Does Fiscal Stimulus Cause Too Much Debt?

    OpenAIRE

    Laurence S. Seidman; Kenneth A. Lewis

    2009-01-01

    This study distinguishes between temporary fiscal stimulus to combat a recession and two other debt-raising policies: financial bailouts and spending on Medicare, Medicaid, and Social Security. Two striking conclusions emerge from our simulations of the impact of a temporary fiscal stimulus on the economy. First, the fiscal stimulus effectively mitigates the recession. Second, debt as a percentage of GDP is only slightly greater with the fiscal stimulus than it would be without the stimulus.

  14. The Fiscal Trilemma in a Danish Perspective

    DEFF Research Database (Denmark)

    Højbjerg Jacobsen, Rasmus; Nielsen, Søren Bo; Sørensen, Anders

    2013-01-01

    This article argues that the "fiscal trilemma"-the tension between sufficient revenue and long-run fiscal sustainability on one side; medium- to long-run growth opportunities on the other; and progressivity and avoidance of inequality on the third side-is very much present in Denmark. We provide an...... overview of main features of the Danish tax system; the state of fiscal balances in the short and longer run; growth and productivity developments; and the extent of inequality in the Danish society. Thereafter, we go into details with reforms and changes in the tax system over the last twenty-five years...... and diagnose main problem areas. We argue that the tax reform carried in Parliament on September 13, 2012, does not pass a "trilemma test"; that is, it is in conflict with at least one of the three key considerations. Finally, we put forth reform elements that should improve the system...

  15. Budget estimates: Fiscal years, 1990--1991

    International Nuclear Information System (INIS)

    The budget estimates for the NRC for fiscal year 1990 provide for obligations of $475,000,000, to be funded in total by two new appropriations---one is NRC's Salaries and Expenses appropriation for $472,100,000 and the other is NRC's Office of the Inspector General appropriation of $2,900,000. Of the funds appropriated to the NRC's Salaries and Expenses, $23,195,000 shall be derived from the Nuclear Waste Fund. The sum appropriated to the NRC's Salaries and Expenses shall be reduced by the amount of revenues received during fiscal year 1990 from licensing fees, inspection services, other services and collections, and from the Nuclear Waste Fund, excluding those moneys received for the cooperative nuclear safety research program, services rendered to foreign governments and international organizations, and the material and information access authorization programs, so as to result in a final fiscal year 1990 appropriation estimated at not more than $292,155,000

  16. The power of fiscal multipliers in Croatia

    Directory of Open Access Journals (Sweden)

    Ana Grdović Gnip

    2014-06-01

    Full Text Available This paper investigates fiscal multipliers in Croatia in the period 1996Q1-2011Q4. For this purpose, a Blanchard Perotti three variable baseline SVAR is employed as a no regime-switch model, along with a four variable baseline STVAR as a regime-switch model. Results show that during recessions fiscal multipliers in Croatia tend to be much larger and move in line with Keynesian assumptions, i.e. a positive government spending shock increases output, private consumption and private investment, while oppositely a positive tax shock worsens the same macroeconomic variables. Moreover, during recession times government spending for purchases of goods and services seems to be the most effective fiscal instrument for boosting economic activity.

  17. Fiscal multipliers over the growth cycle : evidence from Malaysia

    OpenAIRE

    Rafiq, Sohrab; Zeufack, Albert

    2012-01-01

    This paper explores the stabilisation properties of fiscal policy in Malaysia using a model incorporating nonlinearities into the dynamic relationship between fiscal policy and real economic activity over the growth cycle. The paper also investigates how output multipliers for government purchases may alter for different components of government spending. The authors find that fiscal polic...

  18. 42 CFR 434.10 - Contracts with fiscal agents.

    Science.gov (United States)

    2010-10-01

    ... 42 Public Health 4 2010-10-01 2010-10-01 false Contracts with fiscal agents. 434.10 Section 434.10 Public Health CENTERS FOR MEDICARE & MEDICAID SERVICES, DEPARTMENT OF HEALTH AND HUMAN SERVICES... following options, if the fiscal agent or the fiscal agent's subcontractor has a proprietary right...

  19. 42 CFR 434.76 - Costs under fiscal agent contracts.

    Science.gov (United States)

    2010-10-01

    ... 42 Public Health 4 2010-10-01 2010-10-01 false Costs under fiscal agent contracts. 434.76 Section... (CONTINUED) MEDICAL ASSISTANCE PROGRAMS CONTRACTS Federal Financial Participation § 434.76 Costs under fiscal agent contracts. Under each contract with a fiscal agent— (a) The amount paid to the provider of...

  20. THE IMPACT OF ECONOMIC CRISIS ON THE FISCAL REVENUES

    Directory of Open Access Journals (Sweden)

    Inceu Adrian

    2009-05-01

    Full Text Available This paper tries to evaluate the situation of the fiscal revenues in Romania in the context of economic and financial crisis, because the fiscal revenues are the major source of financing the public expenditure. The evolution of the level of fiscal revenu

  1. EPAct Alternative Fuel Transportation Program: State and Alternative Fuel Provider Fleet Compliance Annual Report, Fleet Compliance Results for MY 2014/ FY 2015

    Energy Technology Data Exchange (ETDEWEB)

    2016-04-01

    This annual report of the Alternative Fuel Transportation Program, which ensures compliance with DOE regulations covering state government and alternative fuel provider fleets pursuant to the Energy Policy Act of 1992 (EPAct), as amended, provides fleet compliance results for manufacturing year 2014 / fiscal year 2015.

  2. Política fiscal y vulnerabilidad fiscal en Uruguay: 1976-2006

    OpenAIRE

    Isabel Rial; Leonardo Vicente

    2008-01-01

    Este documento analiza la historia de 30 años de vulnerabilidad fiscal (VF) en Uruguay desde una perspectiva global. Luego de discutir el marco conceptual propuesto, basado en Hemming y Petrie (2000), se construye una serie de indicadores que intentan captar las distintas fuentes de vulnerabilidad: la posición fiscal inicial, exposición al riesgo de corto plazo derivado del entorno macro-financiero, riesgos inherentes a la sostenibilidad de la política fiscal en el mediano y largo plazo y deb...

  3. Public investment and the EU fiscal framework

    OpenAIRE

    Alessandro Turrini

    2004-01-01

    It is often claimed that the introduction of the EU rules-based fiscal framework of the Maastricht Treaty and the Stability and Growth Pact was responsible for a decline in public investment shares in EU countries. Proposals have also been made in recent times in favour of a revision of the EU fiscal framework in such a way to grant special treatment to public capital expenditures (e.g., by amending it with a ‘golden rule'). This paper analyses empirically the relation between the introduct...

  4. FISCAL POLLUTION OF FINANCIAL STATEMENTS. EMPIRICAL STUDY

    Directory of Open Access Journals (Sweden)

    MARIANA GURĂU

    2012-11-01

    Full Text Available Accounting should provide a representation of the economic reality of an economic entity. But what is the economic reality and how we might quantify? By choosing different policies, "economic reality" has different faces. Can we say that one of these faces is wrong, false? We think not. This paper is a part of the research from the field regarding the relationship between accounting and taxation, field that I approached in several papers. We conducted our approach starting from the evidence that in Romania still exist a dependence of accounting from fiscality. This is maintained from specialists in accounting who prefer to choose accounting policies in accordance with the fiscal rules.

  5. Monetary and Fiscal Policy under Deep Habits

    OpenAIRE

    Leith, Campbell; Moldovan, Ioana; Rossi, Raffaele

    2009-01-01

    Allowing habits to be formed at the level of individual goods - deep habits - can radically alter the fiscal policy transmission mechanism as the counter-cyclicality of mark-ups this implies can result in government spending crowding-in rather than crowding-out private consumption in the short run. We explore the robustness of this mechanism to the existence of price discrimination in the supply of goods to the public and private sectors. We then describe optimal monetary and fiscal policy in...

  6. The price relevance of fiscal developments

    OpenAIRE

    Afonso, António; Jalles, João Tovar

    2015-01-01

    We use SURE estimation methods to assess the link between prices, bond yields and the fiscal behavior. A first equation determines the country-specific cost of government financing via the long-term government bond yield, as a function of budget balance positions. A second equation links the price level to the cost of government financing. Our results for 15 EU countries in the period 1980Q1-2013Q4, show that: improvements in the fiscal stance lead to persistent falls in sovereign yields; hig...

  7. Fiscal Policy: Lessons from the Crisis

    OpenAIRE

    Daniele Franco (editor)

    2011-01-01

    The volume collects the essays presented at the 12th Workshop on Public Finance organised by Banca d'Italia in Perugia on 25-27 March 2010. The workshop focused on the implications for fiscal policy analysis of the 2008-09 recession, the most severe at global level since the Great Depression. Session 1 examined the lessons of the crisis for the role of automatic stabilisers and discretionary fiscal policy. Session 2 investigated the effects of policy actions on the economy. Section 3 consider...

  8. Quantitative vs. Qualitative in the Romanian Fiscal Adjustment

    Directory of Open Access Journals (Sweden)

    Cristian SOCOL

    2012-02-01

    Full Text Available As it encountered a fiscal event (budget liquidity crisis in 2009, Romania should have proceeded to one of the most ambitious fiscal correction in the last 30 years in EU. Nevertheless, the absence of vision regarding the increase in quality of the fiscal adjustment is obvious. The fiscal correction made until now has rather been a quantitative one, falling within certain strictly numerical targets. In this paper, we present a series of signals arguing for the necessity to increase the fiscal quality. Moreover, we propose a few immunization mechanisms of the Romanian economy against the contagion of the current uncertainty in the Euro area or against the future crises.

  9. Fiscal positions and government bond yields in OECD countries

    OpenAIRE

    Joseph W. Gruber; Steven B. Kamin

    2010-01-01

    We examine the impact of fiscal positions, both the level of debt and the fiscal balance, on long-term government bond yields in the OECD. In order to control for the endogenity of fiscal positions to the business cycle we utilize forward projections of fiscal positions from the OECD's Economic Outlook. In a panel regression over the period from 1988 to 2007, we find a robust and significant effect of fiscal performance on long-term bond yields. Our estimates imply that the marginal effect of...

  10. Fiscal policy and the 'Great Recession' in the euro area

    OpenAIRE

    Gunter Coenen; Roland Straub; Mathias Trabandt

    2012-01-01

    How much did fiscal policy contribute to euro area real GDP growth during the Great Recession? We estimate that discretionary fiscal measures have increased annualized quarterly real GDP growth during the crisis by up to 1.6 percentage points. We obtain our result by using an extended version of the European Central Bank’s New Area-Wide Model with a rich specification of the fiscal sector. A detailed modeling of the fiscal sector and the incorporation of as many as eight fiscal time series ap...

  11. Environmental Fiscal Reform and Fiscal Consolidation: The Quest for the Third Dividend in Portugal

    OpenAIRE

    Alfredo Marvão Pereira; Rui M. Pereira

    2013-01-01

    This paper explores the capacity for environmental fiscal reform to reduce CO2 emissions, stimulate economic performance, and promote fiscal sustainability. Simulation results suggest that reforms based on CO2 taxation stimulate GDP when tax revenues are used to promote private or public investment and stimulate employment when used to finance reductions in personal income taxation or firms' social security contributions. More generally, reforms allow for reductions in the costs of climate po...

  12. Is fiscal policy Keynesian? : fiscal policy in Western countries : an empirical study

    OpenAIRE

    2005-01-01

    This thesis examines the influence of the cyclical position on discretionary fiscal policy in twenty Western countries in the time period 1960-2004. The first chapter discusses economic theories related to the concept. A traditional Keynesian view of economic fluctuations is presented, saying that economic fluctuations should be avoided and that counter-cyclical fiscal policy is one way of dealing with the problem. This is then contrasted with several objections. Real business cycle theo...

  13. An Empirical Study on Fiscal Sustainability in Malaysia

    Directory of Open Access Journals (Sweden)

    Hussin Abdullah

    2012-01-01

    Full Text Available Fiscal sustainability has become a prominent issue in developing countries, and fiscal sustainability assessments have become an increasingly demanded component of macroeconomic analysis. Unfortunately, there is no single basic source of information on fiscal sustainability. Country economists who are new to fiscal sustainability analysis could rely on sample work by other economists and could delve into scattered journal articles for the theoretical background. This paper focuses on a particular country: Malaysia. The main purpose of this paper is to monitor fiscal sustainability in Malaysia using empirical analysis, and see whether the fiscal sustainability indicators are consistent with the co-integration framework. We employ VAR analysis as it is simple to compute and easily automated. We show how it is possible to analyze a change of policy within a VAR framework. We also use a Multivariate Co-integration Test methodology to conduct inference about the co-integrating relationship between fiscal sustainability indicators and output (GDP. Empirical validation from the time series analysis finds that fiscal sustainability indicators and Gross domestic Product (GDP are co-integrated, which provides some support for the position that Malaysia’s fiscal sustainability is sustainable in the long run in sampling period. This finding suggests that the Government should improve the presentation of sustainability of fiscal policy and develop the analysis, review the sustainability indicators, and strengthen the role of the long term estimates in the design of short term fiscal policy.

  14. Fiscal policies in the European Union during the crisis

    Directory of Open Access Journals (Sweden)

    Ferreiro Jesús

    2015-01-01

    Full Text Available The paper studies the fiscal policies implemented in the European Union countries since the beginning of the current crisis. With this aim in mind we have analyzed separately the expansionary fiscal policies implemented at the first stage of the crisis and the fiscal consolidation policies that became widespread at the beginning of the current decade. Studying the content of the national fiscal policies (discretionary measures versus built-in stabilizers, revenue-based versus expenditure-based fiscal policies, the relationship existing between the size of the fiscal impulses-adjustments and the composition of these measures shows the significant differences between the fiscal policies implemented in the European Union countries.

  15. Fiscal Challenges in Multilayered Unions: An Overview and Case Study

    Directory of Open Access Journals (Sweden)

    Joshua Aizenman

    2015-05-01

    Full Text Available This paper reviews recent research dealing with fiscal discipline and revisit the issues of fiscal control in federal systems, focusing on selective case studies covering the 2000s, before and after the global financial crisis (GFC. We start by contrasting the recent fiscal history of California to that of Greece, illustrating the different ways of dealing with fiscal deficiencies in a mature union, U.S., versus a young union, Eurozone. We continue with an overview of the fiscal developments in Brazil, illustrating the challenges facing federal systems in emerging markets, and possible ways to move forward in upgrading a country’s fiscal institutions. We conclude with the fiscal history of Iceland before and after the financial crisis—a standalone small country, assessed favorably by rating agencies prior to the GFC, and now recovering from a deep financial crisis.

  16. Fiscal Consolidation As a Public Policy: Conceptual and Theoretical Framework

    Directory of Open Access Journals (Sweden)

    Doğan Bakırtaş

    2015-12-01

    Full Text Available                         AbstractFiscal consolidation is the implementation of policies to reduce government expenditures and the public debt ratio to GDP. These policies are used to ensure fiscal discipline and minimize the debt stock by either tax or expenditure side. In this respect, the importance of fiscal consolidation policy is to ensure fiscal discipline without making negative effects on economic growth and economic life. Besides the conceptual framework, periods and the success criteria of fiscal consolidation are important factors for evaluating the success or failure of fiscal consolidation. In this study, it has been identified that there is no consensus on these criteria in the literature.Keywords: Fiscal Consolidation, Budget Deficits,Government Spending, Public EconomyJEL Classification Codes: E62, H32, H62

  17. Research and development program, fiscal year 1974

    Energy Technology Data Exchange (ETDEWEB)

    1972-04-01

    The biomedical program of the Laboratory of Nuclear Medicine and Radiation Biology for Fiscal Year 1974 is conducted within the scope of the following categories: Effects of Radiation of Living Organisms; Molecular and Cellular Radiobiology; Land and Fresh Water Environmental Sciences; Radiological and Health Physics and Instrumentation; and Nuclear Medical Research. (ACR)

  18. 78 FR 66852 - State Fiscal Administration

    Science.gov (United States)

    2013-11-07

    ... From the Federal Register Online via the Government Publishing Office ] DEPARTMENT OF HEALTH AND HUMAN SERVICES Centers for Medicare & Medicaid Services 42 CFR Part 433 State Fiscal Administration CFR Correction 0 In Title 42 of the Code of Federal Regulations, Parts 430 to 481, revised as of October 1,...

  19. Fiscality and environment; Fiscalite et environnement

    Energy Technology Data Exchange (ETDEWEB)

    Voynet, D. [Ministere de l' Amenagement du Territoire et de l' Environnement, 75 - Paris (France); Strass-Kahn, D. [Ministere de l' Economie, des Finances et de l' Industrie, 75 - Paris (France); Guerin, A.J. [President de l' environnement, 69 (France)] [and others

    1998-04-01

    In the context of government policies to prevent the climatic changes, taxation offers many advantages in terms of efficiency and equity. This document presents fourteen speeches of scientists and economists on the fiscality subject in the environmental policy and takes stock of regulations in force and their advantages. (A.L.B.)

  20. 7 CFR 915.6 - Fiscal year.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 8 2010-01-01 2010-01-01 false Fiscal year. 915.6 Section 915.6 Agriculture Regulations of the Department of Agriculture (Continued) AGRICULTURAL MARKETING SERVICE (Marketing Agreements and Orders; Fruits, Vegetables, Nuts), DEPARTMENT OF AGRICULTURE AVOCADOS GROWN IN SOUTH FLORIDA Order Regulating Handling Definitions § 915.6...

  1. Vegetation management 1994 fiscal year end report

    International Nuclear Information System (INIS)

    This year-end report evaluates vegetation management operations on the Hanford reservation conducted during fiscal year (FY) 1994 and proposed control methods to be used in FY 1995 and following years. The 1995 control methods proposed are based on an evaluation of past and current ALARA principles, employee safety, environmental impacts, applicable regulations, site esthetics, and other site-specific factors

  2. Yardstick competition, fiscal disparities, and equalization

    NARCIS (Netherlands)

    Allers, Maarten A.

    2012-01-01

    The theory of political yardstick competition states that a comparison of public service levels and tax rates with those in nearby jurisdictions can provide voters with a useful instrument to assess politicians' performance. However, we argue that fiscal disparities bias this yardstick, and that thi

  3. Fiscal Officer Training Workshop, 1997. Participant's Guide.

    Science.gov (United States)

    Department of Education, Washington, DC.

    Extensive workshop materials are presented in this 1997 training guide for fiscal officers, business officers, bursars, loan managers, and others who have responsibility for Title IV college student financial aid programs. Workbook type material is provided for nine workshop sessions that cover the following topics: (1) Institutional…

  4. Fiscal policy and the global financial crisis

    DEFF Research Database (Denmark)

    Andersen, Torben M.

     The financial crisis raises demands for fiscal policy interventions. While a fall in aggregate demand is an important consequence of the crisis, it also reflects more underlying structural problems and changes. Hence, appropriate policy designs have to take account of the nature of the crisis...

  5. Fiscal Disaster Risk Assessment Options for Consideration

    OpenAIRE

    World Bank Group; Global Facility for Disaster Reduction and Recovery

    2015-01-01

    Pakistan is vulnerable to a number of adverse natural events and has experienced a wide range of disasters over the past 40 years, including floods, earthquakes, droughts, cyclones, and tsunamis. The World Bank is supporting the Government of Pakistan (GoP) in building capacity in the area of disaster risk management (DRM) in order to build resilience from both humanitarian and fiscal shoc...

  6. 7 CFR 1215.7 - Fiscal year.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 10 2010-01-01 2010-01-01 false Fiscal year. 1215.7 Section 1215.7 Agriculture Regulations of the Department of Agriculture (Continued) AGRICULTURAL MARKETING SERVICE (MARKETING AGREEMENTS AND ORDERS; MISCELLANEOUS COMMODITIES), DEPARTMENT OF AGRICULTURE POPCORN PROMOTION, RESEARCH, AND CONSUMER INFORMATION Popcorn...

  7. 7 CFR 1216.11 - Fiscal year.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 10 2010-01-01 2010-01-01 false Fiscal year. 1216.11 Section 1216.11 Agriculture Regulations of the Department of Agriculture (Continued) AGRICULTURAL MARKETING SERVICE (MARKETING AGREEMENTS AND ORDERS; MISCELLANEOUS COMMODITIES), DEPARTMENT OF AGRICULTURE PEANUT PROMOTION, RESEARCH, AND INFORMATION ORDER Peanut Promotion,...

  8. 7 CFR 1209.7 - Fiscal year.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 10 2010-01-01 2010-01-01 false Fiscal year. 1209.7 Section 1209.7 Agriculture Regulations of the Department of Agriculture (Continued) AGRICULTURAL MARKETING SERVICE (MARKETING AGREEMENTS AND ORDERS; MISCELLANEOUS COMMODITIES), DEPARTMENT OF AGRICULTURE MUSHROOM PROMOTION, RESEARCH, AND CONSUMER INFORMATION ORDER Mushroom...

  9. Fiscal policy lags and income adjustment processes

    International Nuclear Information System (INIS)

    Highlights: ► There are delays either in the government expenditure or in the tax system. ► Both delays affect fiscal policy outcomes. ► The system of differential equations with two delays may be chaotic. ► Fiscal policy outcomes might be inconsistent with their stabilization purposes. - Abstract: The interest in the impact of fiscal policy lags on economic stability increased in the last decade. Several studies have been made on delays either in the government expenditure or in the tax system, where lags exist between the accrual and the payment of taxes. Nevertheless there is in the literature no model where time delays in government expenditures and in tax revenues are considered together as it happens in the real world. In this paper we remedied this defect and proposed a macro-dynamic model where two delays appear: the first pertains to the public expenditure, the second, to the tax revenue. The resulting system of delayed differential equations is studied qualitatively and numerically. The analysis suggests that only particular combinations of the two delays make the system stable. Prevalently the system is unstable and chaotic motions may arise. This implies that the economy may need appropriate structural changes in the public sector to improve fiscal policy outcomes in such a way they may really be consistent with their stabilization purposes.

  10. Fiscal aspects of European monetary integration

    DEFF Research Database (Denmark)

    Hallett, Andrew Hughes; Hutchison, Michael; Hougaard Jensen, Svend E.

    Monetary union in Europe started in 1999. The fiscal policy implications are, in many ways, more complex than the monetary issues. This book contains 11 papers and three review essays, which analyze a spectrum of empirical, theoretical, institutional and political aspects of the design and impact...

  11. The State Fiscal Situation: The Lost Decade

    Science.gov (United States)

    National Governors Association, 2009

    2009-01-01

    The fiscal condition of states deteriorated dramatically over the last two years because of the depth and length of the economic downturn, and state officials do not expect this situation to improve any time soon. Previous downturns have proven that the worst budget years for a state are the two years after the national recession is declared over.…

  12. Analysis of monetary and fiscal policy mix

    OpenAIRE

    Ionut Constantin

    2010-01-01

    Economies are constantly hit by various shocks-that effect aggregate demand and aggregate supply and have the potential to generate recession or expansion, respective a high level of unemployment and high inflation rate. Governments use fiscal and monetary policies to try to stabilioze the economy.

  13. Analysis of monetary and fiscal policy mix

    Directory of Open Access Journals (Sweden)

    2010-12-01

    Full Text Available Economies are constantly hit by various shocks-that effect aggregate demand and aggregate supply and have the potential to generate recession or expansion, respective a high level of unemployment and high inflation rate. Governments use fiscal and monetary policies to try to stabilioze the economy.

  14. Fiscal Deadline, Thorny Deficits Bedevil States

    Science.gov (United States)

    Maxwell, Lesli A.

    2009-01-01

    A handful of recession-ravaged states have kicked off a new fiscal year without balanced budgets, leaving public school educators in limbo as they struggled to manage spending amid dwindling resources and political bickering over unprecedented budget gaps. The crisis remains most severe in California, which, as of last week, faced a $26.3 billion…

  15. Alternative Treatments

    Science.gov (United States)

    ... Find your chapter: search by state Home > Alzheimer's Disease > Treatments > Alternative Treatments Overview What Is Dementia? What Is Alzheimer's? Younger/Early Onset Facts and Figures Know the 10 Signs Stages Inside the Brain: ...

  16. Los paraisos fiscales en la UE: Luxemburgo

    OpenAIRE

    Heras González, Roberto Las

    2014-01-01

    La existencia de los paraísos fiscales es, hoy en día, conocida por la gran mayoría de las personas. Esto se debe fundamentalmente a los escándalos que, día sí y día también, aparecen en los principales espacios informativos. Estos escándalos, propiciados por los paraísos fiscales, ponen en pie de guerra nuestra sociedad. Entre ellos podemos encontrar; los casos de corrupción en los gobiernos, la evasión y elusión de impuestos por parte de los grandes patrimonios, y el blanqueo...

  17. Hydrogen program summary Fiscal Year 1994

    Energy Technology Data Exchange (ETDEWEB)

    1995-03-01

    The annual program summary provides stakeholders within the hydrogen community with a snapshop of important advances that have occurred in the National Hydrogen Program over the fiscal year, including industry interactions and cooperation. The document will also be used to encourage additional potential industrial partners to join the Hydrogen Program Team. Fiscal Year 1994 marked a turning point for the Hydrogen Program, with a budget that grew significantly. The focus of the program was broadened to include development of hydrogen production technologies using municipal solid waste and biomass, in addition to an increased emphasis on industrial involvement and near-term demonstration projects. In order to maintain its near- and long-term balance, the Hydrogen Program will continue with basic, fundamental research that provides the long-term, high-risk, high-payoff investment in hydrogen as an energy carrier.

  18. Ecological Fiscal Policy: between Theory and Practice

    Directory of Open Access Journals (Sweden)

    Mariana VUŢĂ

    2011-12-01

    Full Text Available The environment is becoming a more important element in the public decision process. Governments, non-profit organizations, civil society and firms are involved in different projects in order to protect this public good. But what does a state do in order to correct the damages brought upon the environment? This paper aims, on one side, to underline state’s fiscal leverages in order to internalize costs related to pollution externalities, and on the other side to preset clean investments encouraging instruments. The study will show that even though in Romania the fiscal pressure in high budgetary encasements obtained though environmental instruments do not help in putting in place a coherent policy with positive and visible effects upon future generations.

  19. Money Market Operations in Fiscal 2006

    OpenAIRE

    Financial Markets Department

    2007-01-01

    Throughout fiscal 2006, the Bank of Japan conducted money market operations with the uncollateralized overnight call rate as the operating target. Between March 2001 and March 2006, the Bank adopted the so-called "quantitative easing policy" whereby it conducted money market operations with the main target being the outstanding balance of current accounts at the Bank. Thus, this marked the first time in five years that the Bank used uncollateralized overnight call rates as its operating target.

  20. Money Market Operations in Fiscal 2003

    OpenAIRE

    Financial Markets Department

    2004-01-01

    In fiscal 2003, the Bank of Japan changed the target level for current account balances held at the Bank five times, raising it by 15 trillion yen in total. To achieve the target and maintain stability in the money market, the Bank conducted money market operations appropriately by carefully monitoring money market conditions and market participants' bidding in response to the Bank's operations. Autonomous factors such as the flow of treasury funds and banknotes contributed to the increase in...

  1. Fiscal responsibility: What exactly does it mean?

    OpenAIRE

    Jan KREGEL

    2010-01-01

    The use of government fiscal stimulus to support the economy in the recent economic crisis has brought increases in government deficits and increased government debt. This has produced an interest in sustainable government debt and the role of deficits in the economy. This paper argues in favor of a concept of "responsible" government policy, referring to positions held by Franklin and Marshall Professor Will Lyons. The idea is that government should be responsible to the needs and desires of...

  2. An Efficient test of Fiscal Sustainability

    OpenAIRE

    Gabriel, VJ; Sangduan, P

    2010-01-01

    We suggest using the efficient test with prespecified cointegration vectors of Horvath and Watson (19954. Horvath , M. and Watson , M. 1995 . Testing for cointegration when some of the cointegrating vectors are prespecified . Econometric Theory , 11 : 984 – 1014 . [CrossRef], [Web of Science ®] View all references) for the ‘strong’ fiscal sustainability hypothesis. Unlike this procedure, conventional methodologies tend to penalize the sustainability hypothesis.

  3. Rise of the Japanese fiscal state

    OpenAIRE

    Masaki Nakabayashi

    2008-01-01

    A sustainable fiscal state needs to have two critical factors: A stable tax base and access to an efficient bond market. The Tokugawa Shogunate had a stable land tax revenue, which was inherited to modern Japan after the Meiji restoration. Taxation, however, was restricted by the constitution after the Meiji restoration. The parliament opposed to expansionary policy in the early 1890s, and then it turned to support that at the exchange of governmental commitment to investment in social infras...

  4. ASPECTS REGARDING FISCAL HARMONIZATION IN EUROPEAN UNION

    OpenAIRE

    MOLDOVAN Iosif

    2012-01-01

    Specific issues of public finance in general and taxation in particular have been always considered an essential attribute of a national state sovereignty. In the modern times, taxation due to its complexity and the vast area of regulation has an influence on national economy but also influences other states due to the international treaties. In the European Union, each Member State has the responsibility to promote and implement fiscal policies. The State then delegates some of its competenc...

  5. A endogeneidade da crise fiscal do estado

    OpenAIRE

    Pichai Chumvichitra; Robério Ferreira dos Santos

    1985-01-01

    In the wake of the sharp and sudden petroleum price increase in 1973, Brazil opted to pursue a high rate of economic growth as a main strategy, managing the consequent strain on the balance of payments through a combination of renewad import substitution, export subsidies, and foreign borrowing However in order to reach this objective in the minimum period, there was an increase in the participation of the government activity to influence aggregate demand, besides its monetary and fiscal acti...

  6. Fiscal Management in Resource-Rich Countries

    OpenAIRE

    Ossowski, Rolando; Halland, Havard

    2016-01-01

    The extractive industries (EI) sector occupies an outsize space in the economies of many developing countries. Policy makers, economists, and public finance professionals working in such countries are frequently confronted with issues that require an in-depth understanding of the sector, its economics, governance, and policy challenges, as well as the implications of natural resource wealth for fiscal and public financial management. The objective of the two-volume Essentials for Economists, ...

  7. Managing pessimistic expectations and fiscal policy

    OpenAIRE

    Karantounias, Anastasios G.

    2013-01-01

    This paper studies the design of optimal fiscal policy when a government that fully trusts the probability model of government expenditures faces a fearful public that forms pessimistic expectations. We identify two forces that shape our results. On the one hand, the government has an incentive to concentrate tax distortions on events that it considers unlikely relative to the pessimistic public. On the other hand, the endogeneity of the public’s expectations gives rise to a novel motive for ...

  8. FISCAL SUSTAINABILITY CRITERIA OF THE PUBLIC FINANCE

    OpenAIRE

    R. Tsytsyk

    2013-01-01

    During the global economic crisis, there was a significant deterioration in the stability of public finances of Ukraine under the influence of both internal and external factors. The experience has shown that public finances of Ukraine are unbalanced and offset with the significant deficit during recent years. Resource base of public sector of financial corporations and non-financial corporations is still insufficient. This situation reflects the low level of fiscal sustainability that limits...

  9. The fiscal impacts of college attainment

    OpenAIRE

    Trostel, Philip A.

    2007-01-01

    This study quantifies one important part of the economic return to public investment in college education, namely, the fiscal benefits associated with greater college attainment. College graduates generally pay much more in taxes than those not going to college. Government expenditures are also generally much less for college graduates than for those without a college education. Indeed, over an average lifetime, total government spending per college degree is negative. That is, direct savings...

  10. Rescuing the concept of vertical fiscal imbalance

    OpenAIRE

    Sharma, Chanchal Kumar

    2007-01-01

    This article restores the concept of vertical fiscal imbalance (VFI) to its original meaning. The literature shows that there is neither a universally accepted definition of VFI nor a commonly accepted approach to measuring it. Estimates of VFI are derived, much like accounting or deficit measurements, by comparing the revenues and expenditures of two levels of government. VFI is, however, too nuanced an issue to be described by this kind of national accounting procedure. We argue that ease ...

  11. Accrual Financial Reporting and Australian Fiscal Policy

    OpenAIRE

    Marc Robinson

    2000-01-01

    Australian governments have recently moved from cash accounting to accrual accounting. In doing so they have made simultaneous use of two rival accrual accounting frameworks: AAS 31 and GFS. AAS 31 and GFS operating result measures differ significantly. To date, the AAS 31 framework has enjoyed primacy. This paper evaluates these two frameworks, and suggests that GFS is superior. Accrual accounting has been accompanied at the national government level by the introduction of a new key fiscal p...

  12. Fiscal corruption : a vice or a virtue?

    OpenAIRE

    Fjeldstad, Odd-Helge; Tungodden, Bertil

    2002-01-01

    Recent literature on tax administration in poor countries suggests there are virtues of allowing fiscal corruption. By strengthening the bargaining power of corrupt tax officers, it is argued that tax evasion may be reduced and tax revenues increased. But does such an intriguing paradox justify policies that stimulate corruption? Our answer is no, and this note puts forward three arguments to support our view. First, while an increase in corruption may raise revenues in the short ...

  13. Fiscal policy and economic growth in Kenya

    OpenAIRE

    M'Amanja, Daniel; Morrissey, Oliver

    2005-01-01

    The question of whether or not fiscal policy stimulates growth has dominated theoretical and empirical debate for a long time. One viewpoint believes that government involvement in economic activity is vital for growth, but an opposing view holds that government operations are inherently bureaucratic and inefficient and therefore stifles rather than promotes growth. In the empirical literature, results are equally mixed. The aim of this paper is not to resolve the raging debate but to add to ...

  14. Fiscal outlook and fi scal sustainability risks.

    OpenAIRE

    Cottarelli, C.

    2012-01-01

    The paper assesses the outlook for public finances in both advanced and emerging economies following the financial crisis. It highlights the risks arising from the current outlook and discusses the key reasons for different market responses to the deterioration of the fiscal accounts across the regions of the world (e.g. between Europe on one side and the United States and Japan on the other side). It draws policy implications for the short and medium term.

  15. Fiscal decentralization and urbanization in Indonesia

    OpenAIRE

    Comola, Margherita; De Mello, Luiz

    2010-01-01

    Indonesia went through a process of fiscal decentralization in 2001 involving the devolution of several policymaking and service delivery functions to the subnational tiers of government (provinces and districts). This process is likely to have affected regional patterns of urbanization, because the new prerogatives granted to the local governments have altered the distribution of urban amenities and labour market outcomes among and within the local jurisdictions. This paper uses a dataset of...

  16. Optimal Fiscal Management of Commodity Price Shocks

    OpenAIRE

    2014-01-01

    A dynamic stochastic general equilibrium model is used to study the optimal fiscal response to commodity price shocks in a small open low-income country. The model accounts for imperfect access to world capital markets and a variety of externalities associated with public infrastructure, including utility benefits, a direct complementarity effect with private investment, and reduced distribution costs. However, public capital is also subject to congestion and absorption constraints, with the ...

  17. Kosova budgetary sustainability and fiscal policy

    Directory of Open Access Journals (Sweden)

    Prof. Ph.D. Myrvete Pantina

    2008-05-01

    Full Text Available Budgeting is the process of governmental resource allocation in order to achieve specificsocial and economic goals. Since the governmental resources are scarce in most transitional countries, as isthe case in Kosova, they need to be allocated based on priority needs, in order to ensure greater efficiency.In post-war Kosova the primary objectives of drafting policies were concentrated around establishingbudgeting systems, collecting revenues by means of the tax system and development of a comprehensivereconstruction programme, it could be said that these goals were achieved within a short period of time.When we take into account the fact that the Central Banking Authority of Kosova (CBAK is still unableto completely manage the monetary policy, and does this only to a certain extent, and the fact that Kosovauntil now did not have access to additional foreign financing, these elements make it all the more necessaryto be more careful in preserving fiscal sustainability, since the fiscal policy, until now, was the sole meansof macroeconomic policies at the hands of the government.The objective of this paper is to present the proceedings of the Kosova fiscal policy and budgeting during2000-2007, as well as provide several recommendations which could result in an increased efficiency infiscal policy by generating budgetary revenues

  18. Implications of Electronic Commerce for Fiscal Policy

    Science.gov (United States)

    Goolsbee, Austan

    In this chapter, I will consider both sides of the relationship between electronic commerce and fiscal policy. For the impact of electronic commerce on fiscal policy, I will pay particular attention to the potential sales-tax revenue losses. The data suggest that the potential losses are actually modest over the next several years. I will also consider the reverse relationship - how fiscal policy affects Internet commerce. Here the evidence suggests that taxes have a sizable effect. I point out, though, that this only supports special treatment if there is some positive externality. Without one, the tax system will lead to excessive online buying to avoid taxes. I will then deal the neglected issue of taxes and Internet access, which can create large deadweight costs both because demand may be price-sensitive and because taxes can slow the spread of new technologies. Finally, I offer some discussion of the international context of taxes and the Internet and the international temptations to raise rates on E-commerce.

  19. Essays on labour market frictions and fiscal policy

    OpenAIRE

    Obstbaum, Meri

    2012-01-01

    This thesis analyzes labour market fluctuations and fiscal policy from the perspective of a small monetary union member state, namely Finland. The first essay identifies how frictions in the labour market shape the responses of the economy to government spending shocks. The nature of offsetting fiscal measures is found to be critical for the effects of fiscal stimulus, due to the different effects of different tax instruments on the labour market. Shifting the debt-stabilizing burden tow...

  20. Property Tax and Fiscal Discipline in OECD Countries

    OpenAIRE

    Andrea Filippo Presbitero; Agnese Sacchi; Alberto Zazzaro

    2014-01-01

    This paper investigates the effects of property taxation on fiscal discipline for a sample of OECD countries over the period 1973-2011. We find that aggregate property taxation in total tax revenues is not statistically correlated with the primary surplus-to-GDP ratio. In contrast, a greater reliance on property taxes pertaining to sub-national governments contributes to fiscal discipline, suggesting that fiscal decentralization should favor responsive tax base instruments.

  1. FISCAL DEFICITS AND STOCK PRICES IN NIGERIA: AN EMPIRICAL EVIDENCE

    OpenAIRE

    Osahon, Igbinedion Sunday; Dickson E. Oriakhi

    2013-01-01

    This study investigates the effects of fiscal deficits on stock prices in Nigeria, utilizing vector auto-regression and error-correction mechanisms (ECM) techniques with annual time series data spanning 1984-2010. The results reveal, amongst others, that fiscal deficit is negatively related to stock prices. Therefore, to maintain a robust stock market, the authorities are expected to de-emphasize monetary financing of fiscal deficits in preference for bond-financing, since the former not only...

  2. Tracking Monetary-Fiscal Interactions across Time and Space

    OpenAIRE

    Franta, Michal; Libich, Jan; Stehlík, Petr

    2012-01-01

    The fiscal position of many countries is worrying - and getting worse. Should formally independent central bankers be concerned that observed fiscal excesses spill over to monetary policy, and jeopardize price stability? To provide some insights this paper tracks the interactions between fiscal and monetary policies in the data across time and space. It makes three main contributions. The first one is methodological: we combine two recent econometric procedures - time varying parameter vector...

  3. The Growth and Stabilization Properties of Fiscal Policy in Malaysia

    OpenAIRE

    Sohrab Rafiq

    2013-01-01

    This paper examines the size of the fiscal multiplier values generated in Malaysia. The results show that a government spending shock leads to broad positive economic effects. Although, the effectiveness of fiscal policy alters across macroeconomic states. The estimates show that since the Asian financial crisis the medium- and long-run effect of fiscal policy spending has declined. Some of this is down to greater credit availability and less investment spending.

  4. Post-Crisis Fiscal Policy Priorities for the ASEAN-5

    OpenAIRE

    International Monetary Fund

    2010-01-01

    This paper focuses on post-crisis fiscal priorities in the ASEAN-5 economies - Indonesia, Malaysia, Philippines, Singapore and Thailand. Sound economic fundamentals and timely and forceful policy responses to the crisis, including fiscal stimulus, contributed to rapid economic recovery in the ASEAN-5. As growth rebounds, these economies are beginning to identify, communicate and implement their strategies for unwinding the fiscal stimulus while addressing long-term growth challenges. In this ...

  5. Annual Hanford Seismic Report for Fiscal Year 2007

    Energy Technology Data Exchange (ETDEWEB)

    Rohay, Alan C.; Sweeney, Mark D.; Hartshorn, Donald C.; Clayton, Ray E.; Devary, Joseph L.

    2007-12-27

    This annual report documents the locations, magnitudes, and geologic interpretations of earthquakes recorded for the Hanford monitoring region of south-central Washington in fiscal year 2007 (October 2006 through September 2007). The report provides summaries of seismic events recorded during the first three quarters of fiscal year 2007 and contains a more comprehensive discussion of seismic events for the fourth quarter of the fiscal year.

  6. The benefits of fiscal consolidation in uncharted waters

    OpenAIRE

    Rother, Philipp; Schuknecht, Ludger; Stark, Jürgen

    2010-01-01

    This paper looks at fiscal sustainability and fiscal risks from a comprehensive, global perspective. It argues that the benefits of consolidation have to be re-assessed given that industrialised countries have entered uncharted waters with unsustainable public debt dynamics and enormous contingent liabilities across sectors and countries coinciding with strong, non-linear and potentially highly adverse fiscal-financial interlinkages. This suggests that there would be significant benefits from...

  7. OCRWM annual report to Congress, fiscal year 1997

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    1998-07-01

    This report presents the progress in the activities of the Office of Civilian Radioactive Waste Management. Chapters include: Yucca Mountain site characterization project; Waste acceptance, storage and transportation project; Program management; Working with external parties; and Financial management. Also included in five appendices are: financial statements; key federal laws and regulations; fiscal year 1997 Congressional testimony and meetings with regulators and oversight bodies; OCREM publications for fiscal year 1997; and selected publications from other organizations during fiscal year 1997.

  8. Fiscal aspect of evolving federations : issues for policy and research

    OpenAIRE

    David E. Wildasin

    1998-01-01

    Recent experience with fiscal decentralization in many developing and transition economies has led many observers to question whether fiscal decentralization undermines macroeconomic stability. In several countries, transfers from central to lower-level governments have increased fiscal deficits at the central level, creating pressures on central banks to monetize additional debt, thus jeopardizing price stability. In other countries, central governments trying to control their deficits have ...

  9. Fiscal Austerity, Unemployment and Suicide Rates in Greece

    OpenAIRE

    Antonakakis, Nikolaos

    2013-01-01

    This study examines the effects of fiscal austerity, among other socioeconomic variables, on suicide rates in Greece over the period 1968-2011. Our results suggest that fiscal austerity, higher unemployment rates, negative economic growth and reduced fertility rates, significantly increase suicide rates in Greece, while increased alcohol consumption and divorce rates do not exert any significant influence on suicide rates. Interestingly, the effects of fiscal austerity and economic growth are...

  10. How much fiscal adjustment is enough? The case of Colombia

    OpenAIRE

    Easterly, William R.

    1989-01-01

    This paper concludes that Colombia's impressive fiscal adjustment during 1985 - 1987 was due to structural changes in fiscal policy, not simply to such fortuitous events as the coffee boom. Although impressive, the fiscal adjustment fell short of actually improving the government's net financial position. Total public debt as a percentage of GDP was roughly unchanged, even after correcting for the effect of currency devaluation on dollar denominated instruments. Public development lending as ...

  11. OCRWM annual report to Congress, fiscal year 1997

    International Nuclear Information System (INIS)

    This report presents the progress in the activities of the Office of Civilian Radioactive Waste Management. Chapters include: Yucca Mountain site characterization project; Waste acceptance, storage and transportation project; Program management; Working with external parties; and Financial management. Also included in five appendices are: financial statements; key federal laws and regulations; fiscal year 1997 Congressional testimony and meetings with regulators and oversight bodies; OCREM publications for fiscal year 1997; and selected publications from other organizations during fiscal year 1997

  12. The new Spanish Autonomous Communities fiscal stability framework

    OpenAIRE

    Prieto, M. Jose; Manzano, Agustin

    2004-01-01

    From to beginning of year 2002, the Spanish Autonomous Communities (CC. AA.) fiscal performance is conditioned by a new legal framework compounded from the financial agreement and the legislation on budget stability. This new framework implies a change in the CC. AA. fiscal behaviour. Are the CC. AA. ready to provide its citizens the public services they demand and fulfil its fiscal stability commitments? Are all the CC. AA. in the same position? Using political economic models and data on pa...

  13. EFFECT OF FISCAL DECENTRALIZATION ON CAPITAL EXPENDITURE, GROWTH, AND WELFARE

    OpenAIRE

    Rudy Badrudin

    2013-01-01

    This research analyzes the influence of fiscal decentralization on capital expenditure, economic growth, and social welfare of 29 regencies and 6 cities in Central Java Province based on the data of year 2004 to 2008. The method used to analyze the hypotheses is the Partial Least Square. The results showes that fiscal decentralization has no significant effect on capital expenditure; fiscal decentralization has significant effect on economic growth and social welfare; capital expenditure has ...

  14. Fiscal decentralization and development: How crucial is local politics?

    OpenAIRE

    Pal, Sarmistha; Roy, Jaideep

    2010-01-01

    Does fiscal decentralization in a politically decentralized less developed country help strengthen democratic institutions at the grass root level? And is the impact of such decentralization on local politics important in determining local development? Our study on Indonesia suggests that fiscal decentralization enhanced free and fair local elections, though the incidence of elite capture, and the consequent breakdown of local democracy, was also present in significant proportions. Fiscal de...

  15. The role of fiscal instruments in environmental policy

    OpenAIRE

    Kosonen, Katri; Nicodème, Gaëtan J.A.

    2009-01-01

    Environmental protection is one of Europe's key values. The EU has set clear policy objectives to achieve its environmental goals. The EU has favoured market-based instruments, among which fiscal instruments to tackle the climate change problem. This paper takes a policy-making perspective and provides an overview of key issues on the role of fiscal instruments in energy and environmental policies. It describes fiscal instruments as cost-effective means to promote environmental goals and high...

  16. The Fiscal Burden of Korean Reunification: A Generational Accounting Approach

    OpenAIRE

    Alan J. Auerbach; Young Jun Chun; Ilho Yoo

    2004-01-01

    This paper uses Generational Accounting to assess the fiscal impacts of Korean reunification. Our findings suggest that early reunification will result in a large increase in the fiscal burden for most current and future generations of South Koreans. The Korean reunification's fiscal impact appears much larger than that of German reunification, due to a wider gap in productivity between the two Koreas and North Korea's much larger share of the unified country's population. The projected large...

  17. Fiscal Policy in the Aftermath of the Crisis

    OpenAIRE

    Kollmann, Robert; Leeper, Eric; Otrok, Christopher; Roeger, Werner

    2013-01-01

    The financial crisis that erupted in 2007 triggered the deepest global recession since the 1930s. In many advanced economies, governments attempted to counter the recession by sizable fiscal stimulus measure. Those measures, and the fall in tax revenues due to the recession, frequently lead to sharp increases in public debt that threaten fiscal sustainability. A key fiscal policy challenge for major advanced economies will be to reduce public deficits and debt over the coming years, without h...

  18. Understanding Policy in the Great Recession: Some Unpleasant Fiscal Arithmetic

    OpenAIRE

    John H. Cochrane

    2010-01-01

    I use the valuation equation of government debt to understand fiscal and monetary policy in and following the great recession of 2008-2009, to think about fiscal pressures on US inflation, and what sequence of events might surround such an inflation. I emphasize that a fiscal inflation can come well before large deficits or monetization are realized, and is likely to come with stagnation rather than a boom.

  19. Long-term fiscal sustainability in major economies

    OpenAIRE

    Auerbach, Alan J.

    2011-01-01

    As the world economy slowly recovers from the very deep and widespread recession of recent years, many countries confront very serious fiscal imbalances. How much time they have to deal with these imbalances is a central question, the salience of which can only have been increased by the ongoing fiscal crisis and bailout in Greece and the immediate fiscal adjustments being discussed or already undertaken in several other countries. There is little doubt that much of the current attention to f...

  20. Time varying fiscal policy in the U.S.

    OpenAIRE

    Manuel Coutinho Pereira; Artur Silva Lopes

    2010-01-01

    To investigate the time heterogeneity effects of fiscal policy in the U.S., we use a non-recursive, Blanchard and Perotti-like structural VAR with time-varying parameters, estimated through Bayesian simulation over the 1965:2-2009:2 period. Our evidence suggests that fiscal policy has lost some capacity to stimulate output but that this trend is more pronounced for taxes net of transfers than for government expenditure, whose effectiveness declines only slightly. Fiscal multipliers keep conve...

  1. Econometric analysis of regime switches and of fiscal multipliers

    OpenAIRE

    Sylvérie Herbert

    2014-01-01

    Debates on the appropriate response of fiscal policy to economic downturns, such as the debates on the merits of austerity measures in Europe, have been centered on the size of the fiscal multipliers. Indeed, empirical and theoretical evidence suggests larger multipliers at times of recession than in expansions,thereby conditioning the success of fiscal consolidation - the higher the multiplier,the more costly the austerity would be in terms of growth of output. We extend the technique of vec...

  2. Fiscal Policy as a Tool for Stabilization in Developing Countries

    OpenAIRE

    Kraay, Aart; Serven, Luis

    2013-01-01

    The financial crisis of 2007/2008, the subsequent great recession in rich countries and its propagation to developing countries has sparked a renewed interest in the role of fiscal policy as a potential countercyclical tool among policymakers and researchers. This paper reviews the state of empirical evidence on the effectiveness of discretionary countercyclical fiscal policy by placing a particular emphasis on developing countries. On the whole, successful fiscal interventions of this type h...

  3. Cosmic alternatives?

    Science.gov (United States)

    Gregory, Ruth

    2009-04-01

    "Cosmologists are often in error but never in doubt." This pithy characterization by the Soviet physicist Lev Landau sums up the raison d'être of Facts and Speculations in Cosmology. Authors Jayant Narlikar and Geoffrey Burbidge are proponents of a "steady state" theory of cosmology, and they argue that the cosmological community has become fixated on a "Big Bang" dogma, suppressing alternative viewpoints. This book very much does what it says on the tin: it sets out what is known in cosmology, and puts forward the authors' point of view on an alternative to the Big Bang.

  4. Fiscal Policy over the Real Business Cycle: A Positive Theory

    OpenAIRE

    Marco Battaglini; Stephen Coate

    2008-01-01

    This paper presents a political economy theory of the behavior of fiscal policy over the business cycle. The theory predicts that, in both booms and recessions, fiscal policies are set so that the marginal cost of public funds obeys a submartingale. In the short run, fiscal policy can be pro-cyclical with government debt spiking up upon entering a boom. However, in the long run, fiscal policy is counter-cyclical with debt increasing in recessions and decreasing in booms. Government spending i...

  5. Petroleum fiscality indicators; Reperes sur la fiscalite petroliere

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2008-02-15

    This document presents the different taxes imposed to petroleum products in France: domestic tax on petroleum products (TIPP) and added value tax (TVA). A comparison is made with the fiscality into effect in other European countries for some petroleum products. Then, the fiscality is detailed for the different petroleum products and automotive fuels with its regional modulations. Finally, the fiscal measures adopted in 2007 are detailed. They concern the transposition of the European directive 2003-96/CE into French right and some fiscal regime changes given to some economical sectors particularly penalized by the rise of petroleum energy prices in 2007. (J.S.)

  6. EFFECT OF FISCAL DECENTRALIZATION ON CAPITAL EXPENDITURE, GROWTH, AND WELFARE

    Directory of Open Access Journals (Sweden)

    Rudy Badrudin

    2013-04-01

    Full Text Available This research analyzes the influence of fiscal decentralization on capital expenditure, economic growth, and social welfare of 29 regencies and 6 cities in Central Java Province based on the data of year 2004 to 2008. The method used to analyze the hypotheses is the Partial Least Square. The results showes that fiscal decentralization has no significant effect on capital expenditure; fiscal decentralization has significant effect on economic growth and social welfare; capital expenditure has no significant effect on economic growth and social welfare; and economic growth has significant effect on social welfare.Keywords: Fiscal decentralization, capital expenditure, economic growth, social welfareJEL classification: H76, I31, 043

  7. Growing Alternatives

    DEFF Research Database (Denmark)

    Bagger-Petersen, Mai Corlin

    2014-01-01

    From 2014, Anhui Province will pilot a reform of the residential land market in China, thus integrating rural Anhui in the national housing market. In contrast, artist and activist Ou Ning has proposed the Bishan time money currency, intending to establish an alternative economic circuit in Bishan...

  8. FISCAL POLICY OF THE REPUBLIC OF MOLDOVA: ACHIEVEMENTS OF THE FISCAL CONTROL AND ENTITY BEHAVIOR

    Directory of Open Access Journals (Sweden)

    Olimpiu GHERMAN

    2015-12-01

    Full Text Available It is an actual theme, determined by achievements of tax control in Moldova and its impact on the behaviour of the entity as important elements of fiscal policy. There are examined different methods for differentiating the problem, supplemented by deduction, induction, synthesis, analysis of defining phenomena of fiscal policy and its elements. The methodology used in this study is based on assessments of the theory, studies and interpretations of specialized literature and analyzes the practical activities specific for taxation at national, European and international levels, depending on which some opinions, conclusions and proposals were founded and formulated, to minimize the impact of tax evasion and fraud.

  9. Austerity, Cyclical Adjustment and How to use the Remaining Leeway for Expansionary Fiscal Policies Within the Current EU Fiscal Framework

    OpenAIRE

    Truger, Achim; Nagel, Michael

    2016-01-01

    Abstract. Fiscal policy in the Euro area has been dominated by austerity measures implemented under the institutional setting of the 'reformed' stability and growth pact, and the even stricter 'fiscal compact' for some years. Since mid-2014 calls for a more expansionary fiscal policy to overcome the economic crisis have become more frequent.  The EU-Commission in this spirit has launched the Juncker-Plan to stimulate (public) investment and is using a less strict interpretation of the Stabili...

  10. The Individual Taxpayer Utility Function with Tax Optimization and Fiscal Fraud Environment

    Directory of Open Access Journals (Sweden)

    Paweł Pankiewicz

    2011-11-01

    Full Text Available In this paper I examine a taxpayer utility function determined by the extended set of variables – i.e. consumption, labor and tax-evasion propensity. This constitutes the main framework for the analysis of taxpayer’s decision making process under assumption that in the economy there exist two main reduction methods: a access to tax optimization techniques, which may decrease effective tax burden and are fully compliant with binding laws, but generate transactional costs and 2 possibility of fiscal fraud – in particular tax evasion, as the alternative method of reducing tax due, which has no direct transactional costs, but involves tax litigation risk.

  11. Fiscal Transparency, Measurement and Determinants: Evidence from 27 Developing Countries

    Directory of Open Access Journals (Sweden)

    Yves M. Tehou TEKENG

    2015-03-01

    Full Text Available Fiscal transparency has been consistently identified as a key feature of efficient fiscal policy and a prerequisite for good public governance. However, measuring fiscal transparency remains an empirical challenge, and extant literature on developing countries is still sparse. To that end, this paper examines the determinants of fiscal transparency in developing countries. We add to the existing literature by proposing a new replicable index of fiscal transparency that is consistent with the definition provided by the International Monetary Fund (IMF and the World Bank. Additional determinants of fiscal transparency, which are exclusively relevant in the study of developing countries, are also examined. In particular, we introduce such factors as natural resources, openness of the economy, the literacy rate of the population, and the quality of institutions. Because of possible endogeneity arising from interdependence among some variables, two-stage least squares (2SLS is used to ensure that the estimators are consistent. As a robustness check, the same estimation procedure was replicated by replacing our index of fiscal transparency with respectively the index of Andreula et al. (2009 and the Open Budget Index, both of which use a significant similar number of developing countries of our selected sample. The results provide additional credence to our suggested procedure. The paper found that the level of natural resources and the openness of the capital account negatively affect fiscal transparency. However, the quality of institutions and literacy were found to positively affect fiscal transparency. The findings of this paper provide an explanation of why, after a decade of fiscal transparency programs, many developing countries are still lagging behind, thereby losing the potential benefits mentioned in the literature. These findings could help guide policies directed at improving fiscal transparency in the case of developing countries.

  12. Alternative 23

    OpenAIRE

    Jackson, Mark

    2014-01-01

    Alternative 23 is a curated exhibition of works by Steve Aylett, David Blandy & Daniel Locke, Let Me Feel Your Finger First, Laura Oldfield Ford, Plastique Fantastique and Henrik Schrat, including the first screening of Let Me Feel Your Finger First’s Postcolonial Capers. In 1985 DC Comics in the US had taken the commercial decision to unify the complex and contradictory character story arcs from its various strips such as Superman, Batman and Green Lantern. The resultant crossover series...

  13. Fiscal sustainability, volatility and oil wealth: A stochastic analysis of fiscal spending rules

    NARCIS (Netherlands)

    S. van Wijnbergen; N. Budina

    2011-01-01

    Whether fiscal policy is sustainable depends on a government's future revenue and expenditure streams, both of which are highly uncertain. In commodity-rich countries, this problem is intensified by unpredictable and volatile commodity prices. We show how spending rules for oil income and non-oil pr

  14. AGEFIS:Applied General Equilibrium for FIScal Policy Analysis

    OpenAIRE

    Arief Anshory Yusuf; Djoni Hartono; Wawan Hermawan; Yayan

    2008-01-01

    AGEFIS (Applied General Equilibrium model for FIScal Policy Analysis) is a Computable General Equilibrium (CGE) model designed specifically, but not limited, to analyze various aspects of fiscal policies in Indonesia. It is yet, the first Indonesian fully-SAM-based CGE model solved by Gempack. This paper describes the structure of the model and illustrates its application.

  15. Federal Facility Agreement Annual Progress Report for Fiscal Year 1998

    International Nuclear Information System (INIS)

    This FFA Annual Progress Report has been developed to summarize the information for activities performed during the Fiscal Year 1998 (October 1, 1997, to September 30, 1998) and activities planned for Fiscal Year 1999 by U.S. EPA, SCDHEC, and SRS at those units and areas identified for remediation in the Agreement

  16. 78 FR 62415 - Refugee Admissions for Fiscal Year 2014

    Science.gov (United States)

    2013-10-21

    ... in the Federal Register. (Presidential Sig.) THE WHITE HOUSE, Washington, October 2, 2013 [FR Doc... Documents#0;#0; ] Presidential Determination No. 2014-01 of October 2, 2013 Refugee Admissions for Fiscal... up to 70,000 refugees to the United States during fiscal year (FY) 2014 is justified by...

  17. Fiscal Response and School Finance Simulations: A Policy Perspective.

    Science.gov (United States)

    Adams, E. Kathleen

    Addition of fiscal response factors to the traditional simulation model of school finance demonstrates that the traditional model underestimates both the costs and impacts of state aid programs at the district level. The study reviews research on fiscal response--defined as school districts' taxing and spending behavior after receipt of state…

  18. Fiscal responsibility laws for subnational discipline : the Latin American experience

    OpenAIRE

    Webb, Steven B.

    2004-01-01

    This paper discusses fiscal responsibility laws in Latin America, with special attention to their provisions for fiscal discipline by subnational governments. It discusses why and when such laws might be useful-to help resolve the coordination problem in getting diverse governments to avoid overusing the common national credit market and to help individual governments make a time-consisten...

  19. Fiscal and Monetary Policy Reconsidered, Again: Basic Lessons.

    Science.gov (United States)

    Eisner, Robert

    1993-01-01

    Asserts that many macroeconomics textbooks include arguments about national fiscal policy that may not be relevant nor accurate. Concludes that counter cyclical fiscal policy restricted to changes in income taxes and transfer payments are weak tools in efforts to pull a nation out of recession. (CFR)

  20. Summary of Hanford Site Groundwater Monitoring for Fiscal Year 2001

    International Nuclear Information System (INIS)

    This booklet summarizes a more detailed report, Hanford Site Groundwater Monitoring for Fiscal Year 2001. This summary booklet is designed to briefly (1) describe the highlights for fiscal year 2001; (2) identify emerging issued in groundwater monitoring; (3) discuss groundwater flow and movement; and (4) provide an overview of current contamination in the Hanford Site groundwater and vadose zone

  1. Romanian Fiscal Policy in Perspective of Admittance in EU

    Directory of Open Access Journals (Sweden)

    Eugen Mitrica

    2006-03-01

    Full Text Available The paper analizes the convergence between Romanian and European fiscal policy in terms of three issues: the fiscal revenues percentage of GDP, the structure of public revenues and the public budget deficit (under the constrait of 3% of GDP. The analysis reveals small differences for the first and second issues and an important opportunity cost for the ceiling of deficit.

  2. Fiscal Neutrality and Local Choice in Public Education.

    Science.gov (United States)

    Weber, William L.

    1991-01-01

    Extends Feldstein's notion of wealth neutrality to embrace fiscal neutrality, using a representative consumer context. Employs an "ideal" demand system to model school district expenditures in a general equilibrium framework. Rejects constant price and income elasticity demand models. Supports the fiscally neutral elasticity model varying by…

  3. SOCIAL PRIORITIES OF FISCAL POLICY IN POST-CRISIS PERIOD

    Directory of Open Access Journals (Sweden)

    I. Lyutyy

    2014-01-01

    Full Text Available The article carried out a comprehensive study of the social priorities of fiscal policy in Ukraine. Efficiency of fiscal instruments in the system of state regulation of social processes in society. Defined the role of the budgetary impact on the social development of society.

  4. Monetary union without fiscal coordination may discipline policymakers

    NARCIS (Netherlands)

    Beetsma, R.M.W.J.; Bovenberg, A.L.

    1995-01-01

    We show that, with benevolent policymakers and fiscal leadership, monetary unification reduces inflation, taxes and public spending. These disciplining effects of a monetary union, which rise with the number of fiscal players in the union, are likely to raise welfare. Joining an optimally designed m

  5. Lack of fiscal discipline: Challenges and possible solutions

    Directory of Open Access Journals (Sweden)

    Ćirović Nikola

    2013-01-01

    Full Text Available The lack of fiscal discipline is one of the most pressing issues in the framework of various economic systems today. The consequences of the global economic crisis have shown all the weaknesses of measures and mechanisms in terms of decision-making in fiscal policy. This problem can be seen now in almost every country. The problem of inadequate implementation of fiscal policy and the maintenance of fiscal discipline is reflected in the fact that their consequences are not visible right away, but tend to show their negative effects much later. Today, we have a situation where a certain current government suffers badly implemented prior fiscal discipline of a previous government. The paper identified causes of fiscal indiscipline, which is most easily seen in the budget process. In addition to determining the causes of fiscal indiscipline, the author puts forward a set of different possible solutions that could positively affect the stabilization of the growing public debt and eliminate the cause of fiscal indiscipline. Possible solutions are analyzed, as well as the positive and negative aspects of their use, and possible implementation problems of specific solutions.

  6. Kyrgyz Republic Public Expenditure Review Policy Notes : Intergovernmental Fiscal Relations

    OpenAIRE

    World Bank

    2014-01-01

    Intergovernmental fiscal relations have advanced over the last decade in the Kyrgyz Republic. Since the previous public expenditure review in 2004, the government of the Kyrgyz Republic has developed a number of policy changes in the area of intergovernmental fiscal relations. These policy changes helped the country to introduce a more transparent and equitable system of local government f...

  7. The Fiscal Impacts of School Choice in New Hampshire

    Science.gov (United States)

    Gottlob, Brian J.

    2004-01-01

    This study addresses the fiscal impacts of school choice in New Hampshire. The author uses one example from the 2003 New Hampshire legislative session to illustrate the fiscal impacts of school choice on New Hampshire and its communities. He develops a unique database of individual and household level responses from the 2000 Census of New…

  8. The Fiscal Impact of the Kentucky Education Tax Credit Program

    Science.gov (United States)

    Gottlob, Brian J.

    2006-01-01

    This study examines the fiscal impact of a proposal to create a personal tax credit for educational expenses and a tax-credit scholarship program in Kentucky. It finds that the actual fiscal impact of the program would be much less than its nominal dollar size, due to the reduced public school costs resulting from migration of students from public…

  9. Calcination/dissolution chemistry development Fiscal year 1995

    International Nuclear Information System (INIS)

    The task open-quotes IPC Liaison and Chemistry of Thermal Reconstitutionclose quotes is a $300,000 program that was conducted in Fiscal Year (FY) 1995 with U.S. Department of Energy (DOE) Office of Research and Development (EM-53) Efficient Separations and Processing Crosscutting Program supported under technical task plan (TTP) RL4-3-20-04. The principal investigator was Cal Delegard of the Westinghouse Hanford Company (WHC). The task encompassed the following two subtasks related to the chemistry of alkaline Hanford Site tank waste: (1) Technical Liaison with the Institute of Physical Chemistry of the Russian Academy of Science (IPC/RAS) and its research into the chemistry of transuranic elements (TRU) and technetium (Tc) in alkaline media. (2) Laboratory investigation of the chemistry of calcination/dissolution (C/D) (or thermal reconstitution) as an alternative to the present reference Hanford Site tank waste pretreatment flowsheet, Enhanced Sludge Washing (ESW). This report fulfills the milestone for the C/D subtask to open-quotes Provide End-of-Year Report on C/D Laboratory Test Resultsclose quotes due 30 September 1995. A companion report, fulfilling the milestone to provide an end-of-year report on the IPC/RAS liaison, also has been prepared

  10. Accountability report. Fiscal Year 1996, Volume 2

    International Nuclear Information System (INIS)

    This report consolidates several performance-related reports into a single financial management report. Information in this report includes information previously reported in the following documents: (1) US Nuclear Regulatory Commission's (NRC's) annual financial statement, (2) NRC Chairman's annual report to the President and the Congress, and (3) NRC Chairman's semiannual report to Congress on management decisions and final actions on Office of Inspector General audit recommendations. This report also contains performance measures. The report is organized into the following subtopics: information about the US NRC, program performance, management accountability, and the audited financial statement for Fiscal Year 1996. 19 figs., 4 tabs

  11. Accountability report. Fiscal Year 1996, Volume 2

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    1997-05-01

    This report consolidates several performance-related reports into a single financial management report. Information in this report includes information previously reported in the following documents: (1) US Nuclear Regulatory Commission`s (NRC`s) annual financial statement, (2) NRC Chairman`s annual report to the President and the Congress, and (3) NRC Chairman`s semiannual report to Congress on management decisions and final actions on Office of Inspector General audit recommendations. This report also contains performance measures. The report is organized into the following subtopics: information about the US NRC, program performance, management accountability, and the audited financial statement for Fiscal Year 1996. 19 figs., 4 tabs.

  12. Does fiscal cooperation increase local tax rates ?

    OpenAIRE

    Sylvie Charlot; Sonia Paty; Virginie Piguet

    2010-01-01

    The main purpose of this paper is to assess the effects of fiscal cooperation on local taxation in a decentralized country, using the French experience. We estimate a model of tax setting for local business tax using spatial and dynamic econometric techniques, for the period 1993-2003. We find first that reducing the number of municipalities is likely to limit tax competition and increase local business tax rates as a consequence. Second, we find that tax rates are higher when groups of local...

  13. Complexity of fiscal policy in Kosovo and their treatment

    Directory of Open Access Journals (Sweden)

    Gani Asllani

    2015-07-01

    Full Text Available Fiscal policy and monetary policy are two key instruments of economic policy of a country which are used to achieve macroeconomic goals. In Kosovo and in the new and consolidating countries the fiscal policy plays the primary role in the functioning of the state, its institutions and economic growth in general. In the study paper treated some of the most sensitive issues affecting fiscal and tax policies, theoretical approaches, modern trends of fiscal policy and addressed some of the reforms in neighboring countries. Special emphases is given fiscal policies applied in Kosovo, its reforms, actions to be taken on the occasion of the policymaking reforms and finally are given appropriate recommendations.

  14. Energy alternatives

    International Nuclear Information System (INIS)

    Due to sharp rise in oil proces after the 1973 Arab-Israeli War, world attention has been focussed on the energy problem. At present the energy problem is limited to the cost and reliability of supply, even though there are enough supplies to go round. However, in the future the problem will be of availability, because in spite of the full exploitation of currently available conventional energy sources, the supply will fall short of demand which will always be increasing. Hence, there is need to develop alternate energy sources, including fast breeder reactors, fusion reactors and MHD. Economic and technical aspects of these energy are discussed. (M.G.B.)

  15. Alternative detente

    International Nuclear Information System (INIS)

    The influence of the Chernobyl accident on the disarmament and anti-nuclear movements is discussed. The accident directed attention towards the areas in common rather than the areas of disagreement. It also demonstrated the environmental impact of radioactivity, strengthening the ecological case of the anti-nuclear movement. The issues are discussed for the Western and Eastern bloc countries and the relationship between the two. Sections focus on the Eco-protest, Green politics and economics and on the politics of minority protest and the Green alternative. (U.K.)

  16. Grenada, OECS Fiscal Issues : Policies to Achieve Fiscal Sustainability and Improve Efficiency and Equity of Public Expenditures

    OpenAIRE

    World Bank

    2004-01-01

    The report reviews Grenada public expenditures for the period 1995-02 and suggests policy recommendations to achieve fiscal sustainability, improve social service delivery, and reform social protection based on the economic situation of the country at the time. To restore rapid economic growth, ensure medium-term fiscal sustainability under the umbrella of the currency union and protect th...

  17. Alternative strategies to reduce public deficits: Taxes vs. spending

    OpenAIRE

    Oscar Bajo-Rubio; Gómez-Plana, Antonio G.

    2015-01-01

    We examine the effects of several alternative measures intended to reduce government deficits for the case of Spain, distinguishing between those acting through taxes and through spending. The Spanish case is relevant as an example of front-loaded fiscal adjustment that has led to a large GDP fall, where (unlike the cases of Greece, Ireland and Portugal) the authorities were able to choose the composition of the adjustment measures. The empirical methodology is based on a computable general e...

  18. Dinâmica de Transição e Sustentabilidade da Política Fiscal no Rio Grande do Sul

    OpenAIRE

    Cristiano Aguiar de Oliveira; Liderau dos Santos Marques Júnior

    2011-01-01

    Este artigo avalia a sustentabilidade da política fiscal do Rio Grande do Sul a partir de um modelo de correção de equilíbrio com mudanças Markovianas de regime. São estudadas as dinâmicas de curto e de longo prazo da política fiscal do Estado no período compreendido entre 1970 e 2007. A principal conclusão é de que a política fiscal do Estado é sustentável no longo prazo. Entretanto, este resultado está condicionado a uma alternância de regimes fiscais. O artigo conclui que são necessárias r...

  19. Alternative crops

    International Nuclear Information System (INIS)

    Surplus cereal production in the EEC and decreasing product prices, mainly for cereals, has prompted considerable interest for new earnings in arable farming. The objective was to examine whether suggested new crops (fibre, oil, medicinal and alternative grains crops) could be considered as real alternatives. Whether a specific crop can compete economically with cereals and whether there is a market demand for the crop is analyzed. The described possibilities will result in ca. 50,000 hectares of new crops. It is expected that they would not immediately provide increased earnings, but in the long run expected price developments are more positive than for cereals. The area for new crops will not solve the current surplus cereal problem as the area used for new crops is only 3% of that used for cereals. Preconditions for many new crops is further research activities and development work as well as the establishment of processing units and organizational initiatives. Presumably, it is stated, there will then be a basis for a profitable production of new crops for some farmers. (AB) (47 refs.)

  20. Atomic energy policy in fiscal year 1985

    International Nuclear Information System (INIS)

    The international demand and supply of petroleum advance in relaxed condition at present, but tend to get stringent in long term. Nuclear power is the most promising substitute energy for petroleum, and in Japan, 28 nuclear power plants with 20.56 million kW output are in operation, generating 20.4% of the total generated power in 1983. According to the perspective of long term power supply, the installed capacity of nuclear power plants will reach 62 million kW and 27% of the total installed capacity by 2000. It is important to positively deal with the industrialization of nuclear fuel cycle, the upgrading of nuclear power generation, the development of the reactors of new types and so on, preparing for the age that nuclear power generation will become the center of power supply. The atomic energy policy of the Ministry of International Trade and Industry in fiscal year 1985 is reflected to the budget, financial investment and funding and other measures based on the above viewpoint. The outline of the budget and financial investment and funding for fiscal year 1985 is explained. The points are the promotion of industrialization of nuclear fuel cycle, the promotion of nuclear power generation and the promotion of understanding and cooperation of nation on the location of electric power sources. (Kako, I.)

  1. Understanding and Using Fiscal Data: A Guide for Part C State Staff

    Science.gov (United States)

    Greer, Maureen; Kilpatrick, Jamie; Nelson, Robin; Reid, Kellen

    2014-01-01

    This document provides an overview of the critical role of fiscal data in state Part C systems. This information is intended to help state Part C lead agency staff better understand strategic fiscal policy questions, the fiscal data elements needed to address those questions, and the benefits of using these data. Fiscal data provide powerful…

  2. Energy alternatives

    International Nuclear Information System (INIS)

    English. A special committe of the Canadian House of Commons was established on 23 May 1980 to investigate the use of alternative energy sources such as 'gasohol', liquified coal, solar energy, methanol, wind and tidal power, biomass, and propane. In its final report, the committee envisions an energy system for Canada based on hydrogen and electricity, using solar and geothermal energy for low-grade heat. The committe was not able to say which method of generating electricty would dominate in the next century, although it recommends that fossil fuels should not be used. The fission process is not specifically discussed, but the outlook for fusion was investigated, and continued governmental support of fusion research is recommended. The report proposes some improvements in governmental energy organizations and programs

  3. Computable General Equilibrium Model Fiscal Year 2013 Capability Development Report - April 2014

    Energy Technology Data Exchange (ETDEWEB)

    Edwards, Brian Keith [Los Alamos National Lab. (LANL), Los Alamos, NM (United States). National Infrastructure Simulation and Analysis Center (NISAC); Rivera, Michael K. [Los Alamos National Lab. (LANL), Los Alamos, NM (United States). National Infrastructure Simulation and Analysis Center (NISAC); Boero, Riccardo [Los Alamos National Lab. (LANL), Los Alamos, NM (United States). National Infrastructure Simulation and Analysis Center (NISAC)

    2014-04-01

    This report documents progress made on continued developments of the National Infrastructure Simulation and Analysis Center (NISAC) Computable General Equilibrium Model (NCGEM), developed in fiscal year 2012. In fiscal year 2013, NISAC the treatment of the labor market and tests performed with the model to examine the properties of the solutions computed by the model. To examine these, developers conducted a series of 20 simulations for 20 U.S. States. Each of these simulations compared an economic baseline simulation with an alternative simulation that assumed a 20-percent reduction in overall factor productivity in the manufacturing industries of each State. Differences in the simulation results between the baseline and alternative simulations capture the economic impact of the reduction in factor productivity. While not every State is affected in precisely the same way, the reduction in manufacturing industry productivity negatively affects the manufacturing industries in each State to an extent proportional to the reduction in overall factor productivity. Moreover, overall economic activity decreases when manufacturing sector productivity is reduced. Developers ran two additional simulations: (1) a version of the model for the State of Michigan, with manufacturing divided into two sub-industries (automobile and other vehicle manufacturing as one sub-industry and the rest of manufacturing as the other subindustry); and (2) a version of the model for the United States, divided into 30 industries. NISAC conducted these simulations to illustrate the flexibility of industry definitions in NCGEM and to examine the simulation properties of in more detail.

  4. Assessing Swaziland’s Fiscal Sustainability and Policy Options

    Directory of Open Access Journals (Sweden)

    Albert Mafusire

    2015-01-01

    Full Text Available In 2011, Swaziland’s fiscal policy was extensively scrutinized following its worst fiscal crisis in decades. The impacts of fiscal adjustment on Swaziland’s growth, inflation, and sectoral allocations of resources were some of the issues analyzed. The fall in the Southern African Customs Union revenue receipts to levels below the trend line, for two consecutive years, and the fiscal challenges that followed were the main motivation behind this interest. This paper attempts to establish whether fiscal sustainability was threatened, and if so what were the policy options? Based on the results from econometric estimations, using a sample for the 1986 to 2012 period, I show that the country’s fiscal sustainability was not threatened. However, calculations of the tax gap and the primary gap covering the period 2000 to 2016 reveal that fiscal sustainability was threatened. Subject to the major drivers of government expenditure and revenue handles, it is concluded that, in the short run, the two needed to be realigned while also allocating more resources to support growth.

  5. Fiscal greening. An outline of fiscal options to relieve the environment

    International Nuclear Information System (INIS)

    Dutch environmental taxes belong to the most environment-friendly taxes in Europe. In the last 15 year a large number of measures is implemented to stimulate positive behavioral changes and to finance environmental policy. The contribution of those so-called green taxes is 14% of the total tax income with positive effects on energy consumption, water use and waste disposal.l. In order to maintain the lead in this respect, the working group Greening of the fiscal system II recommends several new measures. Also, the working group studied energy taxes for large consumers, taxes for parking, and how the presentation of regulating effects of the greening measures can be improved. In total, the working group studied circa 80 fiscal options to deburden the environment

  6. Towards Establishing Fiscal Legitimacy Through Settled Fiscal Principles in Global Health Financing.

    Science.gov (United States)

    Waris, Attiya; Latif, Laila Abdul

    2015-12-01

    Scholarship on international health law is currently pushing the boundaries while taking stock of achievements made over the past few decades. However despite the forward thinking approach of scholars working in the field of global health one area remains a stumbling block in the path to achieving the right to health universally: the financing of heath. This paper uses the book Global Health Law by Larry Gostin to reflect and take stock of the fiscal support provided to the right to health from both a global and an African perspective. It then sets out the key fiscal challenges facing global and African health and proposes an innovative solution for consideration: use of the domestic principles of tax to design the global health financing system. PMID:26337764

  7. SOME CONSIDERATIONS REGARDING THE PRINCIPLE OF THE UNIQUENESS OF FISCAL CONTROL

    OpenAIRE

    Florin TUDOR

    2009-01-01

    By means of pertinent solutions and annotations, the scholarly literature has drawn attention to the possible danger of the wrongful implementation of the provisions of art.216 paragraph 3 of the Fiscal Procedure Code, as it’s increasingly becoming a common practice of the NAFA competent fiscal authorities to abrogate fiscal acts and to issue another fiscal administrative act. Advantages can be thus created for the subordinate observing fiscal bodies, proportional with the opponent debtor, du...

  8. Preconditions for Establishing Structural Fiscal Balances in Latin America and the Caribbean: The Case of Brazil

    OpenAIRE

    Paulo Levy

    2013-01-01

    Fiscal policy has been at the center of Brazil's economic dynamics and performance for more than 30 years. In this line, the approval and implementation of a Fiscal Responsibility Law in 2000 was a key step in supporting fiscal sustainability and the transparency of fiscal accounts. Despite these improvements, removing the uncertainties and addressing the imbalances that still persist in fiscal policy-a long-term trend of rising expenditures and tax burden-will be a crucial step when consider...

  9. CPB and Dutch fiscal policy in view of the financial crisis and ageing

    OpenAIRE

    Coen Teulings; Frits Bos

    2010-01-01

    Independent national fiscal institutions can play a major role in fiscal policy and in maintaining and restoring sustainability of a country's public finance. This paper describes the role of CPB in Dutch fiscal policy and discusses its merits and risks. And to what extent can it provide lessons for improving decision-making on fiscal policy in other countries? In the second part, the Dutch fiscal targets and rules are discussed in view of the rising costs of ageing, the depletion of natural ...

  10. An Overview of Intergovernmental Fiscal Relations and Subnational Public Finance in Nigeria

    OpenAIRE

    James Alm; Jameson Boex

    2002-01-01

    Fiscal decentralization reform, the reform of fiscal relations between different levels of government, is an important fiscal policy issue in many African countries. While for many African nations the decentralized delivery of government goods and services is a relatively new concept, the issue of intergovernmental fiscal relations has been a constant and important fiscal policy consideration in Nigeria since the country's independence in 1960. Despite Nigeria's long history with a federal go...

  11. The Great Recession, 'Rainy Day' Funds, and Countercyclical Fiscal Policy in Latin America

    OpenAIRE

    Eduardo Fernández-Arias; Peter Montiel

    2010-01-01

    This paper examines the fiscal policy options that were available to Latin American countries at the onset of the current global economic crisis. It concludes that most of the major countries in the region possessed the fiscal space (as measured by credible fiscal sustainability and debt headroom) to run prudent countercyclical fiscal deficits. For those countries, the appropriate policy response involved a constrained fiscal expansion focused on productive public spending and financed by dra...

  12. Interplay of aid and fiscal policy: Does budget support induce greater fiscal discipline?

    OpenAIRE

    Puonti, Päivi

    2010-01-01

    The effectiveness of foreign aid has been studied from various perspectives. The current aid system has come under a lot of criticism and the relevance of aid giving in eradicating extreme poverty has been widely questioned. Even though aid has been found to have a strong, positive impact on growth, there is a concern about other possible effects. Among them is the concern about its impact on aid receiving country government’s fiscal discipline. However the research done to date does not...

  13. Measuring Fiscal Impetus: The Great Recession in Historical Context

    OpenAIRE

    McGranahan, Leslie; Berman, Jacob

    2014-01-01

    The authors use a measure of fiscal impetus to examine how fiscal policy has behaved during business cycles in the past, how it responded to the most recent recession, and how it is likely to evolve over the next several years. They find that policy was more expansionary than average during the 2007 recession and has been significantly more contractionary than average during the recovery. By the end of 2012, fiscal impetus was below its historical business-cycle average and it is forecast to ...

  14. Varieties of Capitalism and Fiscal Stimulus, 2008–2010

    Directory of Open Access Journals (Sweden)

    Toloudis Nicholas

    2015-10-01

    Full Text Available This paper tests the Varieties of Capitalism (VoC framework to explain variation in fiscal stimulus measures across OECD countries in response to the 2008-2010 economic crisis. Following Soskice (2007, I argue that coordinated market economies are less flexible with fiscal policy than liberal market economies. Multivariate analysis across 23 OECD countries demonstrates that VoC is more powerful than three competing theories: fiscal institutions, which hypothesizes more stimulus in countries with less restrictive budgetary rules; debt credibility, which hypothesizes more stimulus in less indebted countries; and political partisanship, which hypothesizes more stimulus in countries governed by the left.

  15. Concorrência e evasão fiscal internacional

    OpenAIRE

    Tavares, Mónica Sofia Ferreira

    2011-01-01

    A presente dissertação tem como objetivo, compreender o que se entende por dupla tributação internacional e concorrência fiscal prejudicial, e perceber em que medida estas tem influenciado as reformas fiscais ao nível da OCDE (Organização para a Cooperação e Desenvolvimento Económico). Identificar os critérios utilizados para a qualificação de determinado país ou território de paraíso fiscal ou regime fiscal privilegiado, bem como, conhecer as principais medidas, levadas a cabo pela OCDE e pe...

  16. Assessing the effects of monetary and fiscal policy

    OpenAIRE

    Stefano Neri

    2001-01-01

    This paper has two objectives: the first is to jointly analyse monetary and fiscal policy with a structural VAR model, evaluate the dynamic impact of policy shocks on U.S. output and prices and the contributions of these two sources to fluctuations in these variables. The second objective is to investigate if and how the effects of monetary policy are altered by the inclusion of fiscal policy variables in a benchmark monetary VAR. It is found that both monetary policy and fiscal policy have s...

  17. US Monetary and Fiscal Policies - conflict or cooperation?

    OpenAIRE

    Xiaoshan Che; Eric M. Leepe; Campbell Leith

    2015-01-01

    Most of the literature estimating DSGE models for monetary policy analysis ignores fiscal policy and assumes that monetary policy follows a simple rule. In this paper we allow both fiscal and monetary policy to be described by rules and/or optimal policy which are subject to switches over time. We find that US monetary and fiscal policy have often been in conáict, and that it is relatively rare that we observe the benign policy combination of an conservative monetary policy paired with a debt...

  18. Comparison of Nominal and Real Rigidities: Fiscal Policy Perspective

    OpenAIRE

    Krajewski Piotr

    2014-01-01

    This paper examines the impact of nominal and real rigidities in the economy on the effects of fiscal policy. The study confirmed the hypothesis that both nominal and real rigidities enhance the impact of fiscal policy on the Polish economy. In the case of nominal price rigidity it was found that the impact of government spending on GDP depends on the conduct of monetary policy. On the other hand, under conditions of wage rigidity, the strength of fiscal multipliers depends on the slope of th...

  19. Empiric Study about the Mix Fiscal Policy – Economic Development

    Directory of Open Access Journals (Sweden)

    Alexandru Sergiu Ocnean

    2006-09-01

    Full Text Available Economic development is one of the primary objectives of any government. Fiscal policy represents one of the most effective tools that government authorities could use in order to influence the economy. Having this in mind, this paper focuses on the connection between economic development and fiscal policy and proposes an empirical study based on a sample of 21 European countries. Using a simple pool data model, we tried to distinguish the relations between the evolution of GDP per capita, as a proxy for economic development, and the evolution of three fiscal policy variables, namely the tax burden, the public expenditure to GDP ratio and the budget deficit to GDP ratio.

  20. Empiric Study about the Mix Fiscal Policy – Economic Development

    Directory of Open Access Journals (Sweden)

    Alexandru Sergiu Ocnean

    2006-11-01

    Full Text Available Economic development is one of the primary objectives of any government. Fiscal policy represents one of the most effective tools that government authorities could use in order to influence the economy. Having this in mind, this paper focuses on the connection between economic development and fiscal policy and proposes an empirical study based on a sample of 21 European countries. Using a simple pool data model, we tried to distinguish the relations between the evolution of GDP per capita, as a proxy for economic development, and the evolution of three fiscal policy variables, namely the tax burden, the public expenditure to GDP ratio and the budget deficit to GDP ratio.

  1. La Holding Estrategia Fiscal Para las Empresas Familiares

    OpenAIRE

    Rosa Hilda Hernandez Sandoval; Sandra Patricia de la Garza Cienfuegos; Laura Leticia Gaona Tamez

    2010-01-01

    La presente investigación se realizó en Monclova, Coah., en el año 2011 y tiene por objeto constituir una empresa holding para obtener beneficios fiscales sin caer en la evasión o elusión fiscal, esta alternativa permite controlar desde la cúspide a las demás empresas subsidiarias que han sido creadas. Los resultados muestran que existen en México 4,862 empresas familiares que consolidan para efectos fiscales, las cuales se encuentran integradas en 422 grupos. En este régimen de fiscalización...

  2. Incentivos fiscales e inconsistencia temporal: Uruguay 1970-2005

    OpenAIRE

    Gerardo Licandro; Leonardo Vicente

    2006-01-01

    El presente trabajo analiza las posibles tensiones entre objetivos de estabilidad de precios y de estabilización fiscal. Utilizando un modelo de inconsistencia temporal con objetivos fiscales y una restricción presupuestal del Gobierno similar a la uruguaya, se demuestra que la existencia de deuda nominal en moneda nacional y la posibilidad de licuar el gasto real generan incentivos adicionales al seignorage para el uso fiscal de la inflación. Analizando los datos de Uruguay entre 1970 y 2005...

  3. FISCAL SHOCKS AND THE REACTION OF AUTOMATIC STABILIZERS

    Directory of Open Access Journals (Sweden)

    EMILIA CÂMPEANU

    2012-05-01

    Full Text Available Investigation of the fiscal policy effects generates comprehensive dispute given the scientific importance of understanding the mechanisms by which governments interventions operate and interact throughout the economy. In addition, should not be overlooked that the effects of fiscal policies are considered in the literature that results shocks. In this case, temporary shocks caused by business cycles should be corrected by automating stabilizers. This requires proper functioning of the automate stabilizers. It is therefore useful the scientific approach proposed in this paper to analyze the fiscal policy shocks and the mechanism through which the automatic stabilizers react to them.

  4. Investments in Renewable Energies. Eonomic, technical and fiscal funding opportunities; Investitionen in Erneuerbare Energien. Wirtschaftliche, technische und steuerliche Foerdermoeglichkeiten

    Energy Technology Data Exchange (ETDEWEB)

    Drysch, Michael; Rosarius, Lothar

    2013-02-01

    The first part of the book under consideration analyses the actual market situation for renewable energies, presents alternative forms of use of renewable energies, summarizes decision-relevant criteria and points out possible promotions of investment. Specialist terms are explained understandable. The consciousness becomes aware of the renewable energy resources. The calculation of profitability is presented by means of a case example. The second part of the book establishes tax basics and presents individual problem areas such as turnover tax liability or commerciality. Fiscal funding opportunities with respect to decisions on investment are explained in detail such as tax-exempt income or special amortizations. Fiscal opportunities are discussed with a particular emphasis on tax pitfalls.

  5. Todays energy fiscal policy in France and in Europe. Energy fiscal policy: the projects

    International Nuclear Information System (INIS)

    The observatory of Energy from the French general direction of energy and raw materials (DGEMP) of the ministry of economy, finance and industry, has carried out a comparative study of the specific fiscal system relative to the energy products (electric power, natural gas, petroleum products, automotive fuels) in France and in the European Union. The first part of this paper presents a summary of this study. The second part of this paper concerns the use of the fiscal policy as a tool for the reduction of CO2 and greenhouse gases emissions in order to respect the contractual agreements of the Kyoto conference. A taxation of the energy consumption of companies is considered in order to penalize the polluting companies, and to encourage the development of techniques and measures for the abatement of pollution. A rapid statement of the fiscal policies of other European countries in this domain is presented as comparison. Details concerning the application of energy taxes to French companies are discussed: existing taxes, targeting, establishment, rate, special cases. (J.S.)

  6. Annual report, fiscal year 1974-1975

    International Nuclear Information System (INIS)

    This report presents the activities of the Philippine Atomic Energy Commission for fiscal year 1974-1975. Most of these activities in which the Commission was engaged were tied up to the national nuclear power development program and the development of a technique for uranium prospecting as well as assessing uranium deposits. A five-year program was also drawn up which was approved by the office of the President. The program component consisted largely of nuclear power development, preservation of the environment and basic science research. Also during the period under report, the Commission assumed the role of a human resources bank from which experts were drawn not only by other Government agencies but also foreign organizations

  7. DECENTRALIZATION, FISCAL CAPABILITY AND PUBLIC SPENDING EFFICIENCY

    Directory of Open Access Journals (Sweden)

    Abdul Hakim

    2012-01-01

    Full Text Available Assigning autonomy to regency governments in Indonesia has failed to increase regency’s economies.While it increases regency government role in planning and initiating policies, its impact oneconomic development has been insignificant. This stems from the lack of institution’s capacity inorganizing the bulk funds transfer from the central government which leads to inefficiency in resourceallocation. This paper maps these regencies based on their fiscal dependency. This paperalso applies Data Envelopment Analysis to identify the efficient and non efficient regencies in sucha way that the non efficient regencies might use the efficient ones as the benchmark to increase theirefficiency.Keywords: Autonomy, regency government, efficiencyJEL classification numbers: H21, H53, H71, H72

  8. Nuclear energy policy for fiscal 1986

    International Nuclear Information System (INIS)

    In Japan with little energy resources, about 80 % of the total energy consumption is imported ; of which the petroleum is about 60 %. Nuclear power generation has advantages of the supply security and the high economy. It is the nucleus of petroleum substitute. The role of nuclear power should further increase in the future. Under this situation, the realization of nuclear fuel cycle, the advancement of LWR power plants and the development of advanced type reactors must be pursued positively. In tables are given the nuclear-power-relation budget estimates for fiscal 1986 in general account and in special accounts power source siting and diversification and also the treasury investments and loans, itemized in the respective subjects. (Mori, K.)

  9. Consolidated financial statements for fiscal year 1996

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    1997-02-01

    The following overview and accompanying audited financial statements have been prepared for Fiscal Year (FY) 1996 to report the financial position and the results of operations of the Department of Energy. These statements include the consolidated Statement of Financial Position and the consolidated Statement of Operations and Changes in Net Position. The statements have been prepared in accordance with the Office of Management and Budget Bulletin No. 94-01, Form and Content for Agency Financial Statements, and were developed in accordance with the hierarchy of accounting standards described therein. The overview provides a narrative on the Department of Energy`s mission, activities, and accomplishments. Utilizing performance measures as the primary vehicle for communicating Departmental accomplishments and results, this overview discusses the most significant measures while others are discussed in the supplemental information to the financial statements.

  10. Fiscal Reaction Function: Evidences from CESEE countries

    Directory of Open Access Journals (Sweden)

    Aleksandar Zdravković

    2013-12-01

    Full Text Available The aim of this paper is to improve on the methodology set in previous attempts to estimate the impact of gross government debt to primary balances in a wide set of 21 CESEE countries. Since the result of the long-lasting crisis in those countries is rising imbalance of public finances it is necessary to analyze what factors are causing such effects. Running the fixed effect, pooled and GMM regression it was found that both lagged government debt and output gap are positively related to primary balance. Moreover there was found evidence of non-linear relationship between primary balance and lagged debt, with fiscal fatigue occurrence at 70% threshold. Estimation of the augmented model shows that countercyclical response of primary balance is more pronounced in economic downturn relative to boom in cycle.

  11. Union Slough National Wildlife Refuge : Fiscal Year 1997 Annual Narrative

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Union Slough National Wildlife Refuge and Iowa Wetland Management District summarizes Refuge activities during the 1997 fiscal...

  12. Union Slough National Wildlife Refuge : Fiscal Year 1995 Annual Narrative

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Union Slough National Wildlife Refuge and Iowa Wetland Management District summarizes Refuge activities during the 1995 fiscal...

  13. Narrative report - Fiscal year 1974 [Crab Orchard National Wildlife Refuge

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Crab Orchard National Wildlife Refuge outlines Refuge accomplishments during the 1974 fiscal year. The report begins by summarizing...

  14. Narrative report Mark Twain National Wildlife Refuge: Fiscal year 1975

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Mark Twain National Wildlife Refuge outlines Refuge accomplishments during the 1975 fiscal year. The report begins by summarizing...

  15. Shiawassee National Wildlife Refuge : Annual Narrative : Fiscal Year 2001

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Shiawassee National Wildlife Refuge summarizes Refuge activities during the 2001 fiscal year. The report begins with an...

  16. Shiawassee National Wildlife Refuge : Annual Narrative : Fiscal Year 2000

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Shiawassee National Wildlife Refuge summarizes Refuge activities during the 2000 fiscal year. The report begins with an...

  17. EMSL Quarterly Highlights Report: 1st Quarter, Fiscal Year 2009

    Energy Technology Data Exchange (ETDEWEB)

    Showalter, Mary Ann; Kathmann, Loel E.; Manke, Kristin L.

    2009-02-02

    The EMSL Quarterly Highlights Report covers the science, staff and user recognition, and publication activities that occurred during the 1st quarter (October 2008 - December 2008) of Fiscal Year 2009.

  18. Tamarac National Wildlife Refuge : Annual Narrative Report : Fiscal Year 2002

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Tamarac National Wildlife Refuge summarizes Refuge activities during the 2002 fiscal year. The report begins with an introduction...

  19. Morris Wetland Management District: Annual narrative report: Fiscal year 2000

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Morris Wetland Management District outlines Refuge accomplishments during the 2000 fiscal year. The report begins with an...

  20. Tamarac National Wildlife Refuge : Annual Narrative Report : Fiscal Year 2006

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Tamarac National Wildlife Refuge summarizes Refuge activities during the 2006 fiscal year. The report begins with an introduction...

  1. Morris Wetland Management District: Annual narrative report: Fiscal year 2007

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Morris Wetland Management District outlines Refuge accomplishments during the 2007 fiscal year. The report begins with an...

  2. Morris Wetland Management District: Annual narrative report: Fiscal year 2008

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Morris Wetland Management District outlines Refuge accomplishments during the 2008 fiscal year. The report begins with an...

  3. Morris Wetland Management District: Annual narrative report: Fiscal year 2002

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Morris Wetland Management District outlines Refuge accomplishments during the 2002 fiscal year. The report begins with an...

  4. Tamarac National Wildlife Refuge : Annual Narrative Report : Fiscal Year 2003

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Tamarac National Wildlife Refuge summarizes Refuge activities during the 2003 fiscal year. The report begins with an introduction...

  5. Tamarac National Wildlife Refuge : Annual Narrative Report : Fiscal Year 2004

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Tamarac National Wildlife Refuge summarizes Refuge activities during the 2004 fiscal year. The report begins with an introduction...

  6. Morris Wetland Management District: Annual narrative report: Fiscal year 2004

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Morris Wetland Management District outlines Refuge accomplishments during the 2004 fiscal year. The report begins with an...

  7. Morris Wetland Management District: Annual narrative report: Fiscal year 2006

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Morris Wetland Management District outlines Refuge accomplishments during the 2006 fiscal year. The report begins with an...

  8. Morris Wetland Management District: Annual narrative report: Fiscal year 1998

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Morris Wetland Management District outlines Refuge accomplishments during the 1998 fiscal year. The report begins with an...

  9. Tamarac National Wildlife Refuge : Annual Narrative Report : Fiscal Year 2005

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Tamarac National Wildlife Refuge summarizes Refuge activities during the 2005 fiscal year. The report begins with an introduction...

  10. Morris Wetland Management District: Annual narrative report: Fiscal year 1997

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Morris Wetland Management District outlines Refuge accomplishments during the 1997 fiscal year. The report begins with an...

  11. Tamarac National Wildlife Refuge : Annual Narrative Report : Fiscal Year 1997

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Tamarac National Wildlife Refuge summarizes Refuge activities during the 1997 fiscal year. The report begins with an introduction...

  12. Tamarac National Wildlife Refuge : Annual Narrative Report : Fiscal Year 2001

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Tamarac National Wildlife Refuge summarizes Refuge activities during the 2001 fiscal year. The report begins with an introduction...

  13. Tamarac National Wildlife Refuge : Annual Narrative Report : Fiscal Year 1998

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Tamarac National Wildlife Refuge summarizes Refuge activities during the 1998 fiscal year. The report begins with an introduction...

  14. Tamarac National Wildlife Refuge : Annual Narrative Report : Fiscal Year 2000

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Tamarac National Wildlife Refuge summarizes Refuge activities during the 2000 fiscal year. The report begins with an introduction...

  15. Shiawassee National Wildlife Refuge : Annual Narrative : Fiscal Year 1998

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Shiawassee National Wildlife Refuge summarizes Refuge activities during the 1998 fiscal year. The report begins with an...

  16. Shiawassee National Wildlife Refuge : Annual Narrative : Fiscal Year 1997

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Shiawassee National Wildlife Refuge summarizes Refuge activities during the 1997 fiscal year. The report begins with an...

  17. Ouray National Wildlife Refuge : Narrative Report : Fiscal Year 1974

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Ouray National Wildlife Refuge outlines Refuge accomplishments during the 1974 fiscal year. The report begins by summarizing the...

  18. Ouray National Wildlife Refuge : Narrative Report : Fiscal Year 1975

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Ouray National Wildlife Refuge outlines Refuge accomplishments during the 1975 fiscal year. The report begins by summarizing the...

  19. Big Muddy National Fish and Wildlife Refuge: Fiscal Year 2001

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Big Muddy National Fish and Wildlife Refuge outlines activities and accomplishments during the 2001 fiscal year. The report begins...

  20. [Necedah National Wildlife Refuge: Annual narrative report: Fiscal year 1975

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Necedah NWR outlines Refuge accomplishments during the 1975 fiscal year. The report begins by summarizing the weather conditions,...

  1. [Necedah National Wildlife Refuge: Annual narrative report: fiscal year 1974

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Necedah NWR outlines Refuge accomplishments during the 1974 fiscal year. The report begins by summarizing the weather conditions,...

  2. THE ZOO-ECONOMIC CHALLENGES OF FISCAL DUMPING

    Directory of Open Access Journals (Sweden)

    MARINA LUMINIŢA SÂRBOVAN

    2013-07-01

    Full Text Available In United Europe, the economic policy proves common goals of prosperity and development, still each country is administrating its own policy mix in order to reshape the fiscal pressure and to safeguard the economic body of the society. The fiscal dumping is a feature of the market competition concerning the non-cooperating actions taken among the economic agents targeted to increase the fiscal appealing of their (home-land territory by instrument of apparently favoring fiscal policies. In Romania this disguised tool of the policy promotion is mixed with an explicit expectation of rural and agriculture subvention, abundant in SMEs and rural fields, in line with the local needs of increasing the foreign investments and consolidating growth.

  3. Okefenokee National Wildlife Refuge : Narrative Report : Fiscal Year 1973

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — This narrative report for Okefenokee National Wildlife Refuge summarizes refuge highlights and accomplishments for the 1973 fiscal year. Weather, personnel,...

  4. Horicon National Wildlife Refuge: Annual narrative report: Fiscal year 2004

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Horicon National Wildlife Refuge outlines Refuge accomplishments during the 2004 fiscal year. The report begins with an...

  5. Horicon National Wildlife Refuge: Annual narrative report: Fiscal year 2005

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Horicon National Wildlife Refuge outlines Refuge accomplishments during the 2005 fiscal year. The report begins with an...

  6. Region 3 Fiscal Year 2012 Annual Work Plan

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — The annual work plan for Region 3 discusses the goals and objectives of the Inventory and Monitoring IM program for fiscal year 2012. The introduction includes the...

  7. Region 2 (Southwest Region) Fiscal Year 2012 Annual Work Plan

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — The annual work plan for Region 2 discusses the goals and objectives of the Inventory and Monitoring IM program for fiscal year 2012. The introduction includes the...

  8. Region 5 Fiscal Year 2012 Annual Work Plan

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — The annual work plan for Region 5 discusses the goals and objectives of the Inventory and Monitoring IM program for fiscal year 2012. The introduction includes the...

  9. Narrative Report Mackay Island National Wildlife Refuge: Fiscal year 1974

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — This narrative report for Mackay Island National Wildlife Refuge summarizes refuge activities for fiscal year 1974. The report begins with a summary of weather and...

  10. Narrative Report Mackay Island National Wildlife Refuge: Fiscal year 1975

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — This narrative report for Mackay Island National Wildlife Refuge summarizes refuge activities for fiscal year 1975. The report begins with a summary of weather and...

  11. Narrative report: Big Stone National Wildlife Refuge: Fiscal year 1974

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Big Stone NWR outlines Refuge accomplishments during the 1974 fiscal year. The report begins by summarizing the weather conditions,...

  12. Wheeler National Wildlife Refuge : Annual Narrative Report : Fiscal Year 1975

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Wheeler National Wildlife Refuge outlines Refuge accomplishments during the 1975 fiscal year. The report begins by summarizing the...

  13. Wheeler National Wildlife Refuge : Annual Narrative Report : Fiscal Year 1974

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Wheeler National Wildlife Refuge outlines Refuge accomplishments during the 1974 fiscal year. The report begins by summarizing the...

  14. Horicon National Wildlife Refuge: Annual narrative report: Fiscal year 2009

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Horicon National Wildlife Refuge outlines Refuge accomplishments during the 2009 fiscal year. The report begins with an...

  15. Morris Wetland Management District: Annual narrative report: Fiscal year 2003

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Morris Wetland Management District outlines Refuge accomplishments during the 2003 fiscal year. The report begins with an...

  16. Morris Wetland Management District: Annual narrative report: Fiscal year 2005

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Morris Wetland Management District outlines Refuge accomplishments during the 2005 fiscal year. The report begins with an...

  17. Morris Wetland Management District: Annual narrative report: Fiscal year 2009

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Morris Wetland Management District outlines Refuge accomplishments during the 2009 fiscal year. The report begins with an...

  18. Morris Wetland Management District: Annual narrative report: Fiscal year 1999

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Morris Wetland Management District outlines Refuge accomplishments during the 1999 fiscal year. The report begins with an...

  19. Rydell National Wildlife Refuge : Annual Narrative Fiscal Year 2006

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Rydell National Wildlife Refuge summarizes Refuge activities during the 2006 fiscal year. The report begins with an introduction to...

  20. Rydell National Wildlife Refuge : Annual Narrative Fiscal Year 2004

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Rydell National Wildlife Refuge summarizes Refuge activities during the 2004 fiscal year. The report begins with an introduction to...

  1. Rydell National Wildlife Refuge : Annual Narrative Fiscal Year 2005

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Rydell National Wildlife Refuge summarizes Refuge activities during the 2005 fiscal year. The report begins with an introduction to...

  2. Glacial Ridge National Wildlife Refuge : Annual Narrative Fiscal Year 2005

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Glacial Ridge National Wildlife Refuge summarizes Refuge activities during the 2005 fiscal year. The report begins with an...

  3. Shiawassee National Wildlife Refuge : Annual Narrative : Fiscal Year 2002

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Shiawassee National Wildlife Refuge summarizes Refuge activities during the 2002 fiscal year. The report begins with an...

  4. Environmental Molecular Sciences Laboratory Annual Report: Fiscal Year 2006

    Energy Technology Data Exchange (ETDEWEB)

    Foster, Nancy S.; Showalter, Mary Ann

    2007-03-23

    This report describes the activities and research performed at the Environmental Molecular Sciences Laboratory, a Department of Energy national scientific user facility at Pacific Northwest National Laboratory, during Fiscal Year 2006.

  5. Fiscal Policy and Welfare under Different Exchange Rate Regimes

    DEFF Research Database (Denmark)

    Østrup, Finn

    regime in whichthe monetary authority optimises preferences which include an employment targetand an inflation target. As government spending affects the representativeindividual's utility, the choice of exchange rate regime has an impact on welfare.Keywords: exchange rate regimes; fiscal policy...

  6. Desoto National Wildlife Refuge: Annual Narrative Report: Fiscal year 1998

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Desoto National Wildlife Refuge summarizes refuge activities during fiscal year 1998. The report begins with an introduction to the...

  7. Litchfield Wetland Management District: Annual Narrative Report: Fiscal year 1999

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Litchfield Wetland Management District summarizes refuge activities during fiscal year 1999. The report begins with an introduction...

  8. Desoto National Wildlife Refuge: Annual Narrative Report: Fiscal year 1997

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Desoto National Wildlife Refuge summarizes refuge activities during fiscal year 1997. The report begins with an introduction to the...

  9. Litchfield Wetland Management District: Annual Narrative Report: Fiscal year 2002

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Litchfield Wetland Management District summarizes refuge activities during fiscal year 2002. The report begins with an introduction...

  10. Litchfield Wetland Management District: Annual Narrative Report: Fiscal year 2000

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Litchfield Wetland Management District summarizes refuge activities during fiscal year 2000. The report begins with an introduction...

  11. Litchfield Wetland Management District: Annual Narrative Report: Fiscal year 2001

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Litchfield Wetland Management District summarizes refuge activities during fiscal year 2001. The report begins with an introduction...

  12. Litchfield Wetland Management District: Annual Narrative Report: Fiscal year 1998

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Litchfield Wetland Management District summarizes refuge activities during fiscal year 1998. The report begins with an introduction...

  13. Planning and accomplishment narrative: National Bison Range: [Fiscal year: 1973

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — This annual narrative report for National Bison Range outlines Refuge accomplishments during the 1973 fiscal year. The report begins by summarizing the weather...

  14. Necedah National Wildlife Refuge : Annual Narrative Report : Fiscal Year 1997

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Necedah National Wildlife Refuge outlines Refuge accomplishments during the 1997 fiscal year. The report begins with an...

  15. Windom Wetland Management District : Annual Narrative Report : Fiscal Year 1998

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Windom Wetland Management District summarizes activities during the 1998 fiscal year. The report begins with an introduction to the...

  16. Windom Wetland Management District : Annual Narrative Report : Fiscal Year 1999

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Windom Wetland Management District summarizes activities during the 1999 fiscal year. The report begins with an introduction to the...

  17. Okefenokee National Wildlife Refuge : Narrative Report : Fiscal Year 1974

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — This narrative report for Okefenokee National Wildlife Refuge summarizes refuge activities during the 1974 fiscal year. The report begins with a summary of the...

  18. Okefenokee National Wildlife Refuge : Narrative Report : Fiscal Year 1975

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — This narrative report for Okefenokee National Wildlife Refuge summarizes refuge activities during the 1975 fiscal year. The report begins with a summary of the...

  19. Cypress Creek National Wildlife Refuge: Annual Narrative: Fiscal year 1997

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Cypress Creek National Wildlife Refuge summarizes refuge activities during fiscal year 1997. The report begins with an introduction...

  20. Shiawassee National Wildlife Refuge : Annual Narrative : Fiscal Year 2005

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Shiawassee National Wildlife Refuge summarizes Refuge activities during the 2005 fiscal year. The report begins with an...

  1. Sherburne National Wildlife Refuge : Annual Narrative Report : Fiscal Year 2003

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Sherburne National Wildlife Refuge summarizes Refuge activities during the 2003 fiscal year. The report begins with an introduction...

  2. Shiawassee National Wildlife Refuge : Annual Narrative : Fiscal Year 2008

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Shiawassee National Wildlife Refuge summarizes Refuge activities during the 2008 fiscal year. The report begins with an...

  3. Sherburne National Wildlife Refuge : Annual Narrative Report : Fiscal Year 1999

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Sherburne National Wildlife Refuge summarizes Refuge activities during the 1999 fiscal year. The report begins with an introduction...

  4. Shiawassee National Wildlife Refuge : Annual Narrative : Fiscal Year 2004

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Shiawassee National Wildlife Refuge summarizes Refuge activities during the 2004 fiscal year. The report begins with an...

  5. Shiawassee National Wildlife Refuge : Annual Narrative : Fiscal Year 2007

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Shiawassee National Wildlife Refuge summarizes Refuge activities during the 2007 fiscal year. The report begins with an...

  6. Shiawassee National Wildlife Refuge : Annual Narrative : Fiscal Year 2003

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Shiawassee National Wildlife Refuge summarizes Refuge activities during the 2003 fiscal year. The report begins with an...

  7. Shiawassee National Wildlife Refuge : Annual Narrative : Fiscal Year 2006

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Shiawassee National Wildlife Refuge summarizes Refuge activities during the 2006 fiscal year. The report begins with an...

  8. Hanford Site Groundwater Monitoring for Fiscal Year 2004

    Energy Technology Data Exchange (ETDEWEB)

    Hartman, Mary J.; Morasch, Launa F.; Webber, William D.

    2005-03-01

    This document presents the results of groundwater and vadose zone monitoring for fiscal year 2004 (October 2003 through September 2004)on the U.S. Department of Energy's Hanford Site in southeast Washington State.

  9. Big Muddy National Fish and Wildlife Refuge: Fiscal Year 2000

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Big Muddy National Fish and Wildlife Refuge summarizes refuge activities during the fiscal year 2000. The report begins with an...

  10. Big Muddy National Fish and Wildlife Refuge: Fiscal Year 2003

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Big Muddy National Fish and Wildlife Refuge summarizes refuge activities during the fiscal year 2003. The report begins with an...

  11. Big Muddy National Fish and Wildlife Refuge: Fiscal Year 2002

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Big Muddy National Fish and Wildlife Refuge summarizes refuge activities during the fiscal year 2002. The report begins with an...

  12. Neal Smith National Wildlife Refuge : Fiscal Year 2003

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Neal Smith NWR outlines activities and accomplishments during the 2003 fiscal year. The report begins with an introduction to the...

  13. Rice Lake National Wildlife Refuge : Fiscal year 2001

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Rice Lake and Mille Lacs National Wildlife Refuges outlines Refuge accomplishments during the 2001 fiscal year. The report begins...

  14. Annual report : Okefenokee Wildlife Refuge : [Fiscal year 1939

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — This narrative report for Okefenokee NWR summarizes activities during the 1939 fiscal year. Wildlife, Refuge developments, law enforcement, and water conditions are...

  15. Annual report : Okefenokee Wildlife Refuge : Fiscal year 1940

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — This narrative report for Okefenokee NWR summarizes activities during the 1940 fiscal year. Wildlife, uses of the Refuge, plantings, predator control, Refuge...

  16. Annual report : Okefenokee National Wildlife Refuge : Fiscal year 1941

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — This narrative report for Okefenokee NWR summarizes activities during the 1941 fiscal year. Wildlife, plantings, Refuge developments, law enforcement, fires, water...

  17. Muscatatuck National Wildlife Refuge: Annual narrative report: Fiscal year 2003

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Muscatatuck National Wildlife Refuge outlines Refuge accomplishments during the 2003 fiscal year. The report begins with an...

  18. Impact of Fiscal Autonomy on Poverty in Pakistan

    Directory of Open Access Journals (Sweden)

    Muhammad Zahir Faridi

    2013-05-01

    Full Text Available Pakistan is an underdeveloped state with strong central government. At present there are three levels of government functioning in Pakistan i.e. the federal, provincial and the local. Due to the competence and distributional aspects, the resource allocation method always remained under discussion. Therefore, the present study focused on the role of fiscal autonomy in reducing poverty in Pakistan. Both expenditure and revenue indicators of fiscal policy are considered in this study. For the purpose of analysis, time series annual data from FY1972 to FY2010 is used. Ordinary least square technique is applied to estimate the effect of fiscal autonomy on poverty. The study concludes that the central government should transfer fiscal powers to lower tiers of government in order to reduce poverty in Pakistan.

  19. Minnesota Valley National Wildlife Refuge annual narrative: Fiscal year 2001

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Minnesota Valley National Wildlife Refuge outlines Refuge accomplishments during the 2001 fiscal year. The report begins with an...

  20. Muscatatuck National Wildlife Refuge: Annual narrative report: Fiscal year 1997

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Muscatatuck National Wildlife Refuge outlines Refuge accomplishments during the 1997 fiscal year. The report begins with an...

  1. Minnesota Valley National Wildlife Refuge annual narrative: Fiscal year 2003

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Minnesota Valley National Wildlife Refuge outlines Refuge accomplishments during the 2003 fiscal year. The report begins with an...

  2. Horicon National Wildlife Refuge: Annual narrative report: Fiscal year 2008

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Horicon National Wildlife Refuge outlines Refuge accomplishments during the 2008 fiscal year. The report begins with an...

  3. Muscatatuck National Wildlife Refuge: Annual narrative report: Fiscal year 2008

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Muscatatuck National Wildlife Refuge outlines Refuge accomplishments during the 2008 fiscal year. The report begins with an...

  4. Horicon National Wildlife Refuge: Annual narrative report: Fiscal year 2007

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Horicon National Wildlife Refuge outlines Refuge accomplishments during the 2007 fiscal year. The report begins with an...

  5. Minnesota Valley National Wildlife Refuge annual narrative: Fiscal year 1998

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Minnesota Valley National Wildlife Refuge outlines Refuge accomplishments during the 1998 fiscal year. The report begins with an...

  6. Muscatatuck National Wildlife Refuge: Annual narrative report: Fiscal year 2005

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Muscatatuck National Wildlife Refuge outlines Refuge accomplishments during the 2005 fiscal year. The report begins with an...

  7. Sherburne National Wildlife Refuge : Annual Narrative Report : Fiscal Year 1997

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Sherburne National Wildlife Refuge summarizes Refuge activities during the 1997 fiscal year. The report begins with an introduction...

  8. Sherburne National Wildlife Refuge : Annual Narrative Report : Fiscal Year 1998

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Sherburne National Wildlife Refuge summarizes Refuge activities during the 1998 fiscal year. The report begins with an introduction...

  9. Glacial Ridge National Wildlife Refuge : Annual Narrative Fiscal Year 2006

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Glacial Ridge National Wildlife Refuge summarizes Refuge activities during the 2006 fiscal year. The report begins with an...

  10. Morris Wetland Management District: Annual narrative report: Fiscal year 2001

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Morris Wetland Management District outlines Refuge accomplishments during the 2001 fiscal year. The report begins with an...

  11. Agassiz National Wildlife Refuge: Annual Narrative Report: Fiscal year 2001

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Agassiz National Wildlife Refuge summarizes refuge activities during the fiscal year 2001. The report begins with an introduction...

  12. Fiscal policy and economic growth: a simulation analysis for Bolivia

    Directory of Open Access Journals (Sweden)

    Carlos Gustavo Machicado

    2012-12-01

    Full Text Available This paper develops a dynamic stochastic general equilibrium (DSGE model to analyze the growth effects of fiscal policy in Bolivia. It is a multi-sector model with five representative sectors for the Bolivian economy: Non-tradables, importables, hydrocarbons, mining and agriculture. Public capital is included as a production factor in each of these sectors. The model is calibrated and a number of interesting scenarios are simulated by modifying each of the available fiscal policy instruments. In particular, we analyze the sustainability of Bolivian social policy based on government transfers to households along with the short- and long-run implications of fiscal policy for growth and welfare. We find that fiscal policy alone is unable to generate high rates of growth: it must be accompanied by an efficient provision of public capital and productivity boosts in the economic sectors.

  13. 42 CFR 60.55 - Administrative and fiscal procedures.

    Science.gov (United States)

    2010-10-01

    ... EDUCATION ASSISTANCE LOAN PROGRAM The School § 60.55 Administrative and fiscal procedures. Each school must... unreasonable risk of loss due to defaults; and (d) Compliance with applicable requirements for HEAL schools....

  14. Muscatatuck National Wildlife Refuge: Annual narrative report: Fiscal year 2006

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Muscatatuck National Wildlife Refuge outlines Refuge accomplishments during the 2006 fiscal year. The report begins with an...

  15. Muscatatuck National Wildlife Refuge: Annual narrative report: Fiscal year 2002

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Muscatatuck National Wildlife Refuge outlines Refuge accomplishments during the 2002 fiscal year. The report begins with an...

  16. Minnesota Valley National Wildlife Refuge annual narrative: Fiscal year 2004

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Minnesota Valley National Wildlife Refuge outlines Refuge accomplishments during the 2004 fiscal year. The report begins with an...

  17. Horicon National Wildlife Refuge: Annual narrative report: Fiscal year 2002

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Horicon National Wildlife Refuge outlines Refuge accomplishments during the 2002 fiscal year. The report begins with an...

  18. Horicon National Wildlife Refuge: Annual narrative report: Fiscal year 1999

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Horicon National Wildlife Refuge outlines Refuge accomplishments during the 1999 fiscal year. The report begins with an...

  19. Horicon National Wildlife Refuge: Annual narrative report: Fiscal year 2000

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Horicon National Wildlife Refuge outlines Refuge accomplishments during the 2000 fiscal year. The report begins with an...

  20. Minnesota Valley National Wildlife Refuge annual narrative: Fiscal year 2002

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — This annual narrative report for Minnesota Valley National Wildlife Refuge outlines Refuge accomplishments during the 2002 fiscal year. The report begins with an...