WorldWideScience

Sample records for fiscal policy coordination

  1. 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

  2. Coordinating monetary and fiscal policies: a role for rules?

    OpenAIRE

    Goyal, Ashima

    2002-01-01

    The chapter argues for rules to coordinate monetary and fiscal policies. But the rules are rule like only in imposing forward-looking behaviour, while they allow the discretion to respond to shocks. They would serve to anchor expectations, and align private sector actions with desired outcomes. Many countries have used rules, but credible rules have to be suited to a country’s circumstances, which include both structure and political economy. These aspects help to explain past policy choices ...

  3. Japan's Fiscal Policy and Fiscal Reconstruction

    OpenAIRE

    Ihori, Toshihiro; Nakamoto, Atsushi

    2005-01-01

    This paper investigates the macroeconomic effects of fiscal policy and the fiscal reconstruction movement in Japan. We first summarize Japan's fiscal policy in recent years and discuss advantages and disadvantages of government deficits. Next, we investigate the macroeconomic effects of Japanese fiscal policy and evaluate the plausibility of non-Keynesian effects. We also analyze the possibility of the crowding-in effect of fiscal policy and investigate the spillover effects of deregulation. ...

  4. Quarterly fiscal policy

    NARCIS (Netherlands)

    Kendrick, D.A.; Amman, H.M.

    2014-01-01

    Monetary policy is altered once a month. Fiscal policy is altered once a year. As a potential improvement this article examines the use of feedback control rules for fiscal policy that is altered quarterly. Following the work of Blinder and Orszag, modifications are discussed in Congressional

  5. 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.

  6. Essays on fiscal policy

    NARCIS (Netherlands)

    van Oudheusden, P.

    2013-01-01

    This thesis deals with selected topics in fiscal policy. The first part examines the relationship between fiscal decentralization and certain outcomes, one being the amount of trust citizens have in their government, the other being economic efficiency. The second part looks into the challenge of

  7. Japanese Fiscal Reform : Fiscal Reconstruction and Fiscal Policy

    OpenAIRE

    Ihori, Toshihiro; Doi, Takero; Kondo, Hiroki

    2000-01-01

    This paper evaluates the recent movement of Japanese fiscal reform. We first summarize fiscal policy in 1990s. Then, we investigate several relevant topics of fiscal policy such as the macroeconomic impact of government debt and the ustainability problem. We then consider dynamic properties of fiscal reconstruction process by analyzing the dynamic game among various interest groups. This paper points out that the long-run structural reform is more important than the short-run Keynesian policy...

  8. Fiscal Transparency and Procyclical Fiscal Policy

    DEFF Research Database (Denmark)

    Andersen, Asger Lau; Nielsen, Lasse Holbøll Westh

    This paper examines why fiscal policy is procyclical in developing as well as developed countries. We introduce the concept of fiscal transparency into a model of retrospective voting, in which a political agency problem between voters and politicians generates a procyclical bias in government...... 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...

  9. Fiscal Food Policy

    DEFF Research Database (Denmark)

    G. Nicholls, Stuart; Gwozdz, Wencke; Reisch, Lucia;

    2011-01-01

    When it comes to buying food, price is influential, but is a ‘fat tax’ the answer to curb obesity? Dr Stuart G Nicholls from Lancaster University, Assistant Professor Dr Wencke Gwozdz and Professor, Dr Lucia A Reisch from Copenhagen Business School and Dr Kristin Voigt from Lancaster University l...... look at whether a fiscal policy would work....

  10. Inflation, Growth and Policy Coordination

    OpenAIRE

    Renato E. Reside Jr.; Parantap Basu

    1996-01-01

    The effect of monetary policy on output growth and inflation is examined in a monetary endogenous growth model with an explicit banking sector that intermediates capital. Monetary policy is coordinated with fiscal policy in the sense that all the seigniorage revenue gleaned through the inflation tax is spent to make efficient provision of public services. With the reserve requirement and money growth as instruments, policy coordination implies that one instrument may be solved endogenously wh...

  11. Fiscal sustainability and fiscal policy targets

    DEFF Research Database (Denmark)

    Andersen, Torben M.

    (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......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...... indicator can be given a normative interpretation, and this issue is extensively discussed. The paper ends by discussing the formulation of fiscal policy targets to ensure fiscal sustainability....

  12. Fiscal Policy and Entrepreneurship

    OpenAIRE

    Katsuya Takii

    2004-01-01

    This paper reexamines the effect of expansionary fiscal policy on real GDP in the presence of entrepreneurship, which is defined as firms' activities to predict and adapt to changes in consumers' tastes. As government expenditure cannot reflect changes in consumers' tastes, it weakens the social role of the firms' ability to process local information for predicting the changes. Hence, government expenditure cannot perfectly substitute for private consumption. It is shown that expansionary fis...

  13. Choice of the Path of Fiscal and Monetary Policy Coordination in China

    OpenAIRE

    Xiuyun Cai

    2009-01-01

    The role of monetary policies regulating social the aggregate demand is highlighted, while the role in restructuring the supply and demand are greater limitations. The Central Bank indirectly affects the currency in circulation and the total size of credit by adjusting the statutory deposit reserve rate, the rediscount rate, open market operations; The Central Bank increases or decreases in money supply by limiting the loan quota and the currency issuance. Thus the role of the monetary polici...

  14. US fiscal regimes and optimal monetary policy

    NARCIS (Netherlands)

    Mavromatis, K.

    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

  15. Mistakes in the fiscal policy in Spain before the crisis

    Directory of Open Access Journals (Sweden)

    Ferreiro Jesús

    2013-01-01

    Full Text Available 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.

  16. Fiscal Policy Regimes and Household Consumption

    OpenAIRE

    Jönsson, Kristian

    2004-01-01

    In this paper, we study the effects of fiscal policy during different fiscal policy regimes. More specifically, we investigate how different factors, such as size, duration and composition of fiscal changes, can alter the effects of fiscal policy on private consumption. Using an unbalanced panel of 19 OECD countries during the period 1960-2000, we find that transfer changes are believed to be permanent during fiscal contractions. Hence, it is more likely that an expansionary fiscal contractio...

  17. 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......-run objectives are discussed. Past experience shows that deep recessions become persistent due to marginalization of unemployed, and therefore labour market policies have to be considered as an integral part of policy packages. Finally the question of international policy coordination is addressed....

  18. Fiscal policy in the European Union – present and perspectives

    Directory of Open Access Journals (Sweden)

    Eugenia Ramona Mara

    2012-04-01

    Full Text Available This article analyzes the main trends of fiscal policy in the European Union, following the economic crisis impact and fiscal policy measures that were applied in this economic context. The study is focused in a few key areas: the evolution of fiscal policy captured by indicators measuring tax burden, public sector size analysis by quantifying public expenditure share in GDP and the evolution of budget deficits. Finally, the study watched correlations between fiscal policy and macroeconomic developments, identifying trends and anticipating possible solutions of fiscal policy to achieve the required coordinates of fiscal governance in the European Union. For realizing this study we use annual data from Eurostat Database for 2000-2010 for EU countries. The major findings of the study are the negative impact of the size of public sector on economic growth for EU and also for Romania and the increase of the tax revenue if the economic growth rates increase.

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

    National Research Council Canada - National Science Library

    Jesús Ferreiro; Carmen Gómez; Felipe Serrano

    2013-01-01

    .... 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...

  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. Does the Credible Fiscal Policy Support the Prices Stabilization?

    Directory of Open Access Journals (Sweden)

    Kuncoro Haryo

    2015-06-01

    Full Text Available This paper aims at analyzing the co-movement between fiscal policy and monetary policy rules in the context of price stabilization. More specifically, we observe the potential impact of fiscal policy credibility on the price stabilization in the inflation targeting framework. Motivated by the fact that empirical studies concerning this aspect are still limited, we take the case of Indonesia over the period 2001-2013. Based on the quarterly data analysis, we found that the impact of credibility typically depends on characteristics of fiscal rules commitment. On one hand, the credibility of debt rule reduces the inflation rate. In contrast, the incredible deficit rule policy does not have any impact on the inflation rate and therefore does not support to inflation targeting. Given those results, we conclude that credibility matters in stabilizing price levels. Accordingly, those findings suggest tightening coordination between monetary and fiscal policy to maintain fiscal sustainability in accordance with price stabilization policy

  2. Fiscal ethics, policies, and theories

    Directory of Open Access Journals (Sweden)

    Andrés Blanco

    2016-08-01

    Full Text Available The connections between ethics, policies and economic theories regarding fiscal matters need a more thorough analysis than the one carried out so far. On one hand, even though there are some ethical proposals on taxation, in general such proposals have not been grounded on explanatory theories of the economy. On the other hand, schools of thought about economy usually fail to ethically justify their political proposals. However, such distinctions cannot be sustained rationally: any ethical proposal concerning fiscal matters involves an explanation of economy, and conversely any proposal related to fiscal policies does not only involve a theory but also an ethical understanding. This article will review such connections, and general conclusions will be applied to two specific cases: first, Rawls’s proposal concerning taxation will be reviewed, having previously studied its descriptive assumptions, and then the lack of an ethical connection between the post Keynesian theory on the monetary circuit and its fiscal proposal will be examined. Finally, a possible “taxation compliance ethic” of tax-payers will be likewise analysed.

  3. International Monetary Policy Coordination

    OpenAIRE

    Carlberg, Michael

    2005-01-01

    This paper studies the international coordination of monetary policies in the world economy. It carefully discusses the process of policy competition and the structure of policy cooperation. As to policy competition, the focus is on monetary competition between Europe and America. Similarly, as to policy cooperation, the focus is on monetary cooperation between Europe and America. The spillover effects of monetary policy are negative. The policy targets are price stability and full employment.

  4. A Taylor Rule for Fiscal Policy

    NARCIS (Netherlands)

    Kendrick, D.A.; Amman, H.M.|info:eu-repo/dai/nl/070970777

    2011-01-01

    In times of rapid macroeconomic change it would seem useful for both fiscal and monetary policy to be modified frequently. This is true for monetary policy with monthly meetings of the Open Market Committee. It is not true for fiscal policy which mostly varies with the annual Congressional budget

  5. The relationship between fiscal and monetary policy

    Directory of Open Access Journals (Sweden)

    A. CAIRNCROSS

    2013-12-01

    Full Text Available The relationship between fiscal and monetary policy is one of great theoretical complexity, acute controversy and major practical importance. The author offers an account of the way thinking has developed on the matter before turning to some of the more obvious theoretical questions governing the mix of fiscal and monetary policy and the limitations to which each of them is subject.

  6. The Influence of Monetary Policy and Fiscal Policy on the Rural Residents’ Consumption

    Institute of Scientific and Technical Information of China (English)

    Xinzhi; LIU; Lu; LI; Yusong; LIU

    2014-01-01

    This paper conducts an empirical analysis of influence of fiscal expenditure supporting agriculture monetary supply on rural residents’ s consumption by adopting a vector auto-regression model,based on the data from 1978 to 2011.The study indicated that:in the short term,fiscal policy is the Granger reason of rural residents’ consumption,monetary policy is not the Granger reason of rural residents’ consumption;in the long term,the comprehensive function of fiscal policy and monetary policy has a great influence on the of rural residents’ consumption.Under the background of Economic Transition and Urbanization,Expanding Domestic Demand is the slogan.We should coordinate fiscal policy and monetary policy to promote the rural residents’ consumption.

  7. FISCAL - BUDGETARY POLICY IMPLICATIONS ON THE SUSTAINABLE ECONOMIC RELAUNCH

    Directory of Open Access Journals (Sweden)

    CHIRCULESCU MARIA FELICIA

    2014-05-01

    Full Text Available This paper aims to highlight the implications of fiscal policy and budgetary measures on the Romanian economy after its inclusion on the coordinates of the market economy. Thus, we analyzed the evolution of macroeconomic indicators in conjunction with fiscal measures adopted. The research shows that the measures adopted in fiscal plan were passed on the economy, the effects of registration are often contrary to those expected. Giving a leading role financial tax system generally increased tax burden, accompanied by a low collection rate, repeated changes in tax laws and poor economic conditions concrete. In this context, the creation, allocation and optimal redistribution of budget resources are useful elements in the sustainable recovery of economic growth. I believe that fiscal policy is a permanent policy contestable numerous debates about the effectiveness of using a tax system for purposes other than financial concern namely monetary resources needed to cover expenditure for social or collective needs. Fiscal integrity in the decision process of traders produce permanent changes in their original condition, a change in behavior due to their concern objectively to find those ways of organizing and selling activities to generate the lowest tax burden. I appreciate that fiscal policy remains a tool of macroeconomic adjustment to national authorities. This means that the responsibility of maintaining budgetary balance and the responsibility of maintaining balance in the real economy will always return to the National Government.

  8. FISCAL POLICY DYNAMICS, EMPLOYMENT AND CONSUMPTION

    Directory of Open Access Journals (Sweden)

    Cornelia VĂCEANU

    2015-06-01

    Full Text Available The aim of this paper is to analyse both in theory and in practice fiscal policy effects on the employment rate. For example, even if taxation is one of the main instruments of fiscal policy of the government in reducing unemployment, high taxes reduce disposable incomes of consumers, which automatically leads to lower consumption and when consumers buy less, increases the odds that the unemployment increase. To highlight this we used the comparison of a dynamic influence of fiscal policy on macroeconomic variables with the empirical results from an identified multidimensional model. Data shows a positive conditional correlation between government expenditures increase and labour force supply.

  9. Essays on fiscal and monetary policy

    OpenAIRE

    2005-01-01

    The three chapters of this dissertation investigate how micro level phenomena affect aggregate outcomes and challenge basic fiscal and monetary principles. In particular, I analyze how these phenomena affect the transmission mechanisms and outcomes of specific fiscal and monetary policies in emerging markets. In Chapter 1, I investigate the transmission of monetary policy to retail interest rates using a novel transaction-level data set that includes all corporate loans of every commercial ba...

  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. Shaping the Fiscal Policy Framework

    DEFF Research Database (Denmark)

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

    the international experiences with large-scale fiscal consolidations, including evidence on the expansionary fiscal contraction hypothesis with particular focus on the Danish experience in the early 1980s. Second, given the widespread perception that supranational fiscal rules have failed in Europe, we study......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...... 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 occupational pension...

  12. Complexity of fiscal policy in Kosovo and their treatment

    OpenAIRE

    Gani Asllani

    2015-01-01

    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...

  13. Dynamic effects of fiscal policy and fiscal multipliers in Croatia

    Directory of Open Access Journals (Sweden)

    Milan Deskar-Škrbić

    2013-06-01

    Full Text Available The aim of this paper is to analyze the effects of discretionary measures of fiscal policy on the economic activity and to estimate the size of fiscal multipliers in Croatia. Econometric framework is based on the structural VAR model (SVAR, with Blanchard-Perotti identification method that uses information on institutional characteristics of fiscal system. The analysis is conducted on quarterly data for total expenditures and indirect taxes of central, central consolidated and general consolidated government and aggregate demand for the period from 2004-2012. The results show that our initial assumptions about the difference in the size of the multiplier of government expenditures and indirect tax revenues between three levels of government consolidation have been confirmed.

  14. What are the Effects of Fiscal Policy Shocks?

    NARCIS (Netherlands)

    Mountford, A.W.; Uhlig, H.F.H.V.S.

    2002-01-01

    We investigate the effects of fiscal policy surprises for US data, using vector autoregressions.We overcome the difficulties that changes in fiscal policy may manifest themselves in variables other than fiscal variables first and that fiscal variables may respond 'automatically' to business cycle

  15. What are the Effects of Fiscal Policy Shocks?

    NARCIS (Netherlands)

    Mountford, A.W.; Uhlig, H.F.H.V.S.

    2002-01-01

    We investigate the effects of fiscal policy surprises for US data, using vector autoregressions.We overcome the difficulties that changes in fiscal policy may manifest themselves in variables other than fiscal variables first and that fiscal variables may respond 'automatically' to business cycle co

  16. 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.

  17. Fiscal policy : Brazilian fiscal policy in crisis context

    OpenAIRE

    2010-01-01

    Resumo:A grave crise financeira global de 2008/09 oferece uma oportunidade ímpar para rever e repensar as finanças públicas no Brasil. Dos impactos da crise até as respostas estatais, há muito que estudar: as reflexões teóricas sobre a presença do Estado na economia, as experiências internacionais de enfrentamento da crise via política fiscal, bem como a formulação e a execução da política fiscal e os desafios que esta acabou por impor ou ampliar especialmente para o país. A tese descreve e a...

  18. 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...

  19. A welfare perspective on the fiscal-monetary policy mix: The role of alternative fiscal instruments

    OpenAIRE

    L. Marattin; Marzo, M.; P. Zagaglia

    2010-01-01

    The need of fiscal consolidation is likely to dominate the policy agenda in the next decade; starting from statistical evidence on the conduct of fiscal policy in the EMU area over the last decade, this paper addresses the optimality of alternative fiscal consolidation strategies. We explore the welfare properties. In this paper we explore the welfare properties of debt-targeting fiscal policy implemented through, alternatively, distortionary taxation on consumption, labour and capital income...

  20. "On the Effectiveness of Monetary Policy and Fiscal Policy"

    OpenAIRE

    Arestis, Philip; Sawyer, Malcolm

    2003-01-01

    Within the framework of macroeconomic policy and theory over the past twenty years or so, a major shift has occurred regarding the relative importance given of monetary policy versus fiscal policy. The former has gained considerably in stature, while the latter is rarely mentioned. Further, monetary policy no longer focuses on attempts to control some monetary aggregate, as it did in the first half of the 1980s, but instead focuses on the setting of interest rates as the key policy instrument...

  1. 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.

  2. 42 CFR 433.32 - Fiscal policies and accountability.

    Science.gov (United States)

    2010-10-01

    ... 42 Public Health 4 2010-10-01 2010-10-01 false Fiscal policies and accountability. 433.32 Section... (CONTINUED) MEDICAL ASSISTANCE PROGRAMS STATE FISCAL ADMINISTRATION Federal Matching and General Administration Provisions § 433.32 Fiscal policies and accountability. A State plan must provide that the...

  3. 45 CFR 302.14 - Fiscal policies and accountability.

    Science.gov (United States)

    2010-10-01

    ... 45 Public Welfare 2 2010-10-01 2010-10-01 false Fiscal policies and accountability. 302.14 Section... HUMAN SERVICES STATE PLAN REQUIREMENTS § 302.14 Fiscal policies and accountability. The State plan shall provide that the IV-D agency, in discharging its fiscal accountability, will maintain an accounting system...

  4. 42 CFR 457.226 - Fiscal policies and accountability.

    Science.gov (United States)

    2010-10-01

    ... 42 Public Health 4 2010-10-01 2010-10-01 false Fiscal policies and accountability. 457.226 Section... Claims; Reduction of Federal Medical Payments § 457.226 Fiscal policies and accountability. A State plan...) Maintain an accounting system and supporting fiscal records to assure that claims for Federal funds are in...

  5. Theoretical Analisis of the Effects of Fiscal Policy in Montenegro

    Directory of Open Access Journals (Sweden)

    Damir Sehovic

    2014-11-01

    Full Text Available The introduction of dollarization (euroization in Montenegro has had its consequences for the subsequent economic policy, whose main pillar has become the fiscal policy. Given that fiscal policy must be directed towards the achievement of a number of fiscal and non-fiscal objectives, the importance of the careful and adequate management by its holders gains special importance. In the context of the euroized Montenegrin economy, fiscal policy is the most important, and practically the only relevant instrument of macroeconomic management in Montenegro, especially in terms of the realization of the effects of stimulus, stabilization and redistribution

  6. 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.

  7. Monetary and fiscal policy interaction and government debt stabilization

    NARCIS (Netherlands)

    van Aarle, B.; Bovenberg, A.L.; Raith, M.

    1995-01-01

    In many developing and developed countries, government debt stabilization is an important policy issue. This paper models the strategic interaction between the monetary authorities who control monetization and the fiscal authorities who control primary fiscal deficits. Government debt dynamics are

  8. Crowding Out of Monetary Policy as a Limitation of Fiscal Policy

    OpenAIRE

    Hiermeyer, Martin

    2016-01-01

    If expansionary fiscal policy is inflationary, expansionary fiscal policy forces an inflation-targeting central bank to be somewhat more restrictive in its monetary policy. This altered central bank policy comes at a cost in terms of output which has to be calculated against the output gain achieved by the expansionary fiscal policy.

  9. The Interaction of Monetary and Fiscal Policy in the Countries of the Visegrad Group

    Directory of Open Access Journals (Sweden)

    Jan Janků

    2014-01-01

    Full Text Available Coordination of or at least absence of conflict between monetary and fiscal policies are key to the successful implementation of economic policy. The article aims to use reaction functions to assess whether the monetary and fiscal policies in the countries of the Visegrad Group are in coordination or in conflict and which variables influence their decisions. The central bank is the representative of monetary policy, which has interest rates as its instrument, and the government as the representative of the fiscal policy which has change revenue or spending as a share of GDP as instrument. To obtain the results, multivariate regression analysis is used. The research period is based on quarterly observations from first quarter of 2000 to the fourth quarter of 2012. Stabilizing role of monetary policy and in some countries also partially stabilizing role of fiscal policy has been found. Another result was that in the case of the Czech Republic, Slovakia and Poland, monetary policy appears to play the dominant role, whereas fiscal policy plays dominant role in Hungary. In the case of Slovakia, some different results may be due to Slovakia’s participation in ERM II, which led to the monetary policy, in addition to maintaining price stability, also aiming to maintain a fixed exchange rate and the subsequent entry of Slovakia into the Eurozone and the de facto loss of autonomous monetary policy.

  10. 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.

  11. 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......, while lesseningthe drop (and the rise) of aggregate production after restrictive (expansionary) tax shocks. (ii) Taxevasion and underground economy can rationalize expansionary response to contractionary fiscal policies;(iii) A dynamic general equilibrium with tax evasion gives a rational justification...

  12. Equilibrium Implications of Fiscal Policy with Tax Evasion

    DEFF Research Database (Denmark)

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

    , while lesseningthe drop (and the rise) of aggregate production after restrictive (expansionary) tax shocks. (ii) Taxevasion and underground economy can rationalize expansionary response to contractionary fiscal policies;(iii) A dynamic general equilibrium with tax evasion gives a rational justification......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...

  13. Voter Turnout and Fiscal Policy

    OpenAIRE

    Godefroy, Raphael; Henry, Emeric

    2011-01-01

    Though a large literature on the determinants of turnout has ourished, there is scant evidence on the causal impact of turnout on policies implemented in practice. Using data on French municipalities and instrumental variables for turnout based on temperature and inuenza variations, we show that a one percent increase in turnout decreases on average the municipalities' yearly budget by 1.5 percent. This is mostly due to a decrease in spending on equipment or personnel. We show that this could...

  14. 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.

  15. 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

  16. 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.

  17. The need for economic policy coordination between Europe, Japan, and the United States: Policy recommendations for the 1990s

    NARCIS (Netherlands)

    A. Knoester (Anthonie); A. Kolodziejak (André)

    1994-01-01

    textabstractBetter policy coordination between Europe, Japan, and the United States is urgently needed in order to restore economic growth and to diminish mutual trade imbalances. Using the EC Compact model it is shown how coordinated fiscal policies can contribute to reaching these goals in the 199

  18. The need for economic policy coordination between Europe, Japan, and the United States: Policy recommendations for the 1990s

    NARCIS (Netherlands)

    A. Knoester (Anthonie); A. Kolodziejak (André)

    1994-01-01

    textabstractBetter policy coordination between Europe, Japan, and the United States is urgently needed in order to restore economic growth and to diminish mutual trade imbalances. Using the EC Compact model it is shown how coordinated fiscal policies can contribute to reaching these goals in the

  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. 京津冀治理大气污染的财政金融政策协同配合%Beijing-Tianjin-Hebei's Air Pollution Control in Fiscal and Monetary Policy Coordination

    Institute of Scientific and Technical Information of China (English)

    王延杰

    2015-01-01

    The basic orientation of the coordinated development of Beijing-Tianjin-Hebei is the green low carbon development. To control air pollution oriented, with energy revolution as the security conditions, promote the comprehensive, coordinated, the sustainable development of the economic society, is the objective requirements of collaborative development of Beijing-Tianjin-Hebei. Management of Beijing-Tianjin-Hebei air pollution, according to the target of energy saving and emission reduction, the elimination of backward production capacity, upgrading the industrial structure, adjust and optimize the energy structure, improving energy utilization efficiency, control and reduce emissions of pollutants. The realization of "water drive development, promote the development of Beijing Tianjin and and Hebei pollution" cooperative development, need not only the technical support, need more money. In multi-channel funding guarantee mechanism, must improve the fiscal and monetary policy coordination, to play at the same time fiscal policy to guide and support role in attention, pay more attention to the market play a decisive role, play the financing function of multi-level capital market, multi-channel guide financial institutions, business entities, social capital, and actively into the upgrading of energy-saving emission reduction and the industrial structure transformation, for the management of Beijing -Tianjin -Hebei atmospheric pollution, realize the coordinated development of Beijing-Tianjin-Hebei provide fund guarantee.%京津冀协同发展的根本取向是低碳绿色发展。以治理大气污染为导向,以能源革命为保障条件,带动经济社会全面、协调、持续发展,是京津冀协同发展的客观要求。治理京津冀大气污染,需要按照节能减排目标,淘汰落后产能,改造提升产业结构,调整优化能源结构,提高能源利用效率,控制和减少污染物排放。实现“治污带动发展,发展促

  1. The Effectiveness of Monetary and Fiscal Policy in Serbia

    Directory of Open Access Journals (Sweden)

    Biljana Rakić

    2013-07-01

    Full Text Available The effectiveness of fiscal and monetary policy has been the center of debate between Keynesians and the monetarists for a long time. However, the results from numerous empirical studies are inconclusive, suggesting that none of the policies can be thought of as superior to the other and their relative effectiveness in any economy depends on the prevailing economic and political conditions at any point in time. In order to determine the influence of fiscal and monetary policy on the economic activity in Serbia, we employed unit root and cointegration tests, as well as the regression analysis on the series of quarterly data for the period 2003-2012. The obtained results show that monetary policy is more effective in stimulating economic growth comparing to fiscal policy. Hence, the overall conclusion is that government should pay more attention to the fiscal policy to improve its efficiency in the future.

  2. Orientation of the Fiscal Policy in Tunisia: Structural VAR Analysis

    Directory of Open Access Journals (Sweden)

    Wissem Khanfir

    2017-06-01

    Full Text Available The objective of this paper is to indicate the orientation of fiscal policy in Tunisia, using the structural budget balance, during the period 1972-2014. For this purpose, we estimate a structural VAR model consisting of the fiscal deficit to current GDP ratio and the volume of economic activity represented by the real GDP. We estimate bivariate structural VAR in order to decompose fiscal deficit fluctuations into different disturbances.

  3. 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.

  4. 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.

  5. Monetary and fiscal policy interactions in Brazil: an application of the fiscal theory of the price level

    Directory of Open Access Journals (Sweden)

    Marcelo Ladeira Fialho

    2005-12-01

    Full Text Available The aim of the present paper is to verify the predominance of a monetary or fiscal dominance regime in Brazil in the post-Real period. The analysis is based on a model proposed by Canzoneri, Cumby and Diba (2000. This model proposes that there is a relationship between the public debt/GDP and primary surplus/GDP series by using the vector autoregression (VAR framework and analyzing the impulse response functions. Another aim is the extension of the article written by Muscatelli et al. (2002 about the interactions between monetary and fiscal policies using the Markov-switching vector autoregressive model (MS-VAR introduced by Krolzig (1997, since the relationship between these policies may not be constant over time. In conclusion, the macroeconomic coordination between monetary and fiscal policies in Brazil was virtually a substitute policy throughout the study period, with a predominantly monetary regime, in opposition to the non-Ricardian policies of the Fiscal Theory of The Price Level.O objetivo do presente artigo é verificar a existência de um regime de dominância monetária ou fiscal no Brasil no período pós-Plano Real. A análise é baseada em um modelo proposto por Canzoneri, Cumby e Diba (2000. O procedimento modela relação entre as séries de dívida publica/PIB e superávit primário/PIB usando um do vetor auto-regressivo (VAR e analisa as funções de impulso-resposta. Um outro objetivo é a extensão do artigo escrito por Muscatelli et al. (2002 sobre as interações entre políticas monetária e fiscal, usando agora o modelo do vetor auto-regressivo com mudanças de markov (MS-VAR introduzido por Krolzig (1997, uma vez que a relação entre essas políticas pode não ser constante ao longo do tempo. A conclusão mostra que a coordenação macroeconômica entre políticas monetária e fiscal no Brasil foi virtualmente uma política substituta durante o período estudado, com um regime monetário predominante em oposição

  6. 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.

  7. Monetary and fiscal policy interaction and government debt stabilization

    NARCIS (Netherlands)

    van Aarle, B.; Bovenberg, A.L.; Raith, M.

    1995-01-01

    In many developing and developed countries, government debt stabilization is an important policy issue. This paper models the strategic interaction between the monetary authorities who control monetization and the fiscal authorities who control primary fiscal deficits. Government debt dynamics are d

  8. 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.

  9. Romanian Fiscal Policy in Perspective of Admittance in EU

    Directory of Open Access Journals (Sweden)

    Eugen Mitrica

    2006-05-01

    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.

  10. Integration of Monetary and Fiscal Policy of the Countries of the Visegrad Group

    Directory of Open Access Journals (Sweden)

    Kappel Stanislav

    2014-09-01

    Full Text Available The aim of this paper is to evaluate mutual interaction of monetary and fiscal policies in the countries of the Visegrad group, i.e. in the Czech Republic, Slovakia, Poland and Hungary. The relationship of monetary and fiscal policy - their coordination, cooperation or mutual antagonism - are basic determinants of successful implementation for economic policy of the state. Fiscal and monetary policies usually have different aims, and some conflict situations may arise in practical economic and political decision- making. Each policy has to make its decision with regard to the other one. Methodical approaches of this contribution are based on the game theory, which deals with the analysis of a wide range of decision situations with more participants (players and it is primarily focused on the conflict situations. This game-theoretical approach is responsible for creating the theoretical model which is then dealt with in the empirical analysis. We find a distinctly stabilizing role of monetary policy and relatively problematic stabilizing role of fiscal policy in the analyzed countries. The dominant role of monetary policy is statistically confirmed in the case of the Czech Republic and Hungary.

  11. 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...

  12. Threshold effect of fiscal policy on private consumption :

    Directory of Open Access Journals (Sweden)

    Wissem Khanfir

    2016-03-01

    Full Text Available Using a threshold regression model, we analyse the impact of fiscal policy on private consumption in Tunisia, over the 1975-2010 period. Our empirical results revealed that public expenditure and tax revenues have Keynesian effects on consumption, when private debt/GDP ratio is below 48 %. This effect becomes non-Keynesian once this threshold is exceeded. We provide empirical evidence that private consumption reacts in non-linear fashion to changes in fiscal policy.

  13. In Search of the Motives behind US Fiscal Macroeconomic Policy

    NARCIS (Netherlands)

    O.H. Swank (Otto); J. Swank (Job)

    1993-01-01

    textabstractIn this paper optimal control techniques are applied to estimate the motives behind US fiscal macroeconomic policy. Starting from a range of possible objectives and given the perception of policy makers about the environment in which they operate, the priorities of policy makers are esti

  14. District Fiscal Policy and Student Achievement

    Directory of Open Access Journals (Sweden)

    Gary G. Huang

    2002-09-01

    Full Text Available School restructuring raises questions about the role of school districts in improving student learning. Centralization by state governments and decentralization to individual schools as proposed in systemic reform leave districts' role unsettled. Empirical research on the district role in the context of ongoing reform is inadequate. This analysis of combined data from the NAEP and the Common Core of Data (CCD was intended to address the issue. We analyzed 1990, 1992, and 1996 NAEP 8th grade mathematics national assessment data in combination with CCD data of corresponding years to examine the extent to which student achievement was related to districts' control over instructional expenditure, adjusting for relevant key factors at both district and student levels. Upon sample modification, we used hierarchical linear modeling (HLM to estimate the relationships of student achievement to two district fiscal policy indictors, current expenditure per pupil (CEPP and districts' discretionary rates for instructional expenditure (DDR. Net of relevant district factors, DDR was found unrelated to districts' average 8th grade math performance. The null effect was consistent in the analysis of the combined NAEP-CCD data for 1990, 1992, and 1996. In contrast, CEPP was found related to higher math performance in a modest yet fairly consistent way. Future research may be productive to separately study individual states and integrate the findings onto the national level.

  15. 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.

  16. Correlation between Government and Economic Growth –Fiscal Policy during the Transition in Albania

    Directory of Open Access Journals (Sweden)

    MSc. Xhenet Syka

    2013-12-01

    Full Text Available In this paper we tried to analyze some aspects of fiscal policy in our country, without pretending to give our own sample. Fiscal policy is the use of government expenditures and taxes which affect economic activity. Determination of fiscal policy in a given year takes into account the time virtually the past (current socio-economic status and the implications for the future (fiscal sustainability. In general the cases dealt the role fiscal policy plays toward economic growth. The analysis many focused both in the theoretical treatment as well as the role that fiscal policy has played in our country, going even further in some suggestions for the future. The most important issue was addressed in the long-term fiscal policy view, fiscal sustainability. In the final everything is addressed to the role of fiscal policy on social issues. The role that fiscal policy should play in economic and social development has long been a controversial issue and is still different among economists. While a restrictive fiscal policy means increasing taxes and cut government spending. Fiscal policy may be expansionary or restrictive. An expansionary fiscal policy means a reduction of direct and indirect taxes and increased government expenditures. Choose between two types of fiscal policy is not an easy decision, both in terms of the current state of the economy, as well as political decisions.

  17. Discretion versus rules in fiscal and monetary policies

    Directory of Open Access Journals (Sweden)

    T.G. Savchenko

    2015-09-01

    Full Text Available The article studies the dilemma of the application of discretionary measures and rules (automatic mechanisms in economic policy. On the basis of international experience the author has made the conclusion about the active use of fiscal and monetary rules in the practice of state regulation of economic processes in foreign countries. Ukrainian fiscal and monetary policies are based on the application of discretionary measures and this reduces the possibility of prediction and is not conducive to building trust on the part of economic agents. The paper presents the methodological approach to the analysis of the contradictions in economic policy. Such contradictions underlie determinants in economic policy development. According to the results of the approach mentioned above the author proves the necessity of the explicit monetary rules for the National Bank of Ukraine and the need to improve the effectiveness of the fiscal (budgetary rules in Ukraine.

  18. Fiscal Policy Implementation in Sub-Saharan Africa

    OpenAIRE

    Victor Duarte Lledo; Marcos Poplawski-Ribeiro

    2011-01-01

    This paper investigates economic, political, and institutional constraints to fiscal policy implementation in sub-saharan Africa. We find that planned fiscal adjustments or expansions are less likely to be implemented the larger they are, the more inaccurate the growth forecasts they are based on, the more fragile the regulatory system in the country, and the weaker the institutions framing the design, approval, and execution of the budget. The findings support ongoing efforts in the region t...

  19. Exploring Fiscal Policy at Zero Interest Rates in Intermediate Macroeconomics

    Science.gov (United States)

    Ramamurthy, Srikanth; Sedgley, Norman

    2013-01-01

    Since the financial meltdown of 2007, advanced macroeconomic theory has delved more deeply into the question of the appropriate fiscal policy when the nominal interest rate is close to or at zero percent. Such analysis is typically conducted with the aid of New Keynesian Dynamic Stochastic General Equilibrium models. The policy implications are,…

  20. Exploring Fiscal Policy at Zero Interest Rates in Intermediate Macroeconomics

    Science.gov (United States)

    Ramamurthy, Srikanth; Sedgley, Norman

    2013-01-01

    Since the financial meltdown of 2007, advanced macroeconomic theory has delved more deeply into the question of the appropriate fiscal policy when the nominal interest rate is close to or at zero percent. Such analysis is typically conducted with the aid of New Keynesian Dynamic Stochastic General Equilibrium models. The policy implications are,…

  1. Fiscal Policy for Renewable Energy Sources and Its Economic Impact

    Directory of Open Access Journals (Sweden)

    Rita Helbra Tenrini

    2014-01-01

    Full Text Available Indonesia is the largest producers of palm oil. Along with the increasing demand for renewable energy source, palm oil will turn to be a very important commodity in the future. The palm oil industry will gain more value-added if they export the commodities in processed materials rather than raw materials. On the other hands palm oil industry more likely to export raw material, because there’s no incentives for them to export processed materials. Therefore, to give an incentive to palm oil industry, the government of Indonesia should give fiscal incentives to encourage palm oil industry to produce processed materials. The purpose of this study is to identify the appropriate fiscal policy to palm oil industry and to estimate the economic impact due to the implementation of fiscal incentives policy. The methodology used in this research is analysis using Social Accounting Matrix (SAM that can give an overview the impact of policy implementation to factors of production, an institution such as government and household, and other sectors including palm oil sectors itself. The result of this study that is the proposed fiscal policy in palm oil industry was fiscal incentives in the form of VAT exemption. Economic impact analysis that came from SAM indicates that implementation of the policy has an overall positive impact to factors of production, institution and sector.

  2. FISCAL COUNCILS AS AN ELEMENT OF THE INSTITUTIONAL ENVIRONMENT OF FISCAL POLICY – THE CASE OF POLAND

    Directory of Open Access Journals (Sweden)

    Jolanta Maria CIAK

    2016-02-01

    Full Text Available Fiscal institutions, along with fiscal rules and budgetary procedures, are elements of the institutional environment of fiscal policy. Well pursued fiscal policy is reflected in the fiscal situation of a given country. The activities of many EU member countries and of Poland, done up till now, have been insufficient to keep the discipline in public finance. The effect of the lack of the discipline is a long-term budget deficit and public debt. According to the studies by the European Commission, the level of budgetary deficit in the countries with an independent fiscal institution was considerably lower than that in the countries without such an institution. Independent fiscal institutions in the European Union member countries and in the world differ according to their tasks, rights and responsibilities. It results predominantly from the political conditions, existing institutional arrangements and from the challenges facing fiscal policy in particular countries. The aim of the article is to indicate the possibility to create in Poland an independent institution which would support the maintaining discipline of public finance and increase the transparency of the fiscal policy pursued by the public authorities. The following hypothesis is stated in the article: in Poland there is a real opportunity for functioning of an independent fiscal council, which would act as a guardian of the condition of public finance and as an advisor, and would watch the pursuing of a correct fiscal policy.  

  3. 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.

  4. Mechanisms of discretionary fiscal policy implementation at subfederal level

    Directory of Open Access Journals (Sweden)

    Alsu Mahmutovna Galiakhmetova

    2015-06-01

    Full Text Available Objective to identify new approaches to implementation of effective discretionary fiscal policy to stimulate socioeconomic development at the subfederal level. Methods the study used comparative methods of economic analysis and logic synthesis. The basic methodological principles were used like dialectical approach to the cognition of socioeconomic phenomena in the area of discretionary fiscal policy at the subfederal level in the context of the comprehensive objective and subjective factors as well as the methodological principle ndash the unity of historical and logical systematic approach to economic phenomena and processes of mechanisms formation for the implementation of discretionary fiscal policy. Results the diagnostics is conducted of the current socioeconomic processes in the region implemented by the Tatarstan executive bodies of state power and administration of discretionary policy in the sphere of agriculture the economic levers are considered that determine the mechanisms of maneuvering of the regional budget expenses that affect the acceleration of socioeconomic development. Scientific novelty the paper presents new approaches to the formation of mechanisms for the effective implementation of discretionary policy at the subfederal level. Practical value the main provisions and conclusions of the article can be used in scientific and pedagogical activity when considering the issues of the nature and trends of modern discretionary fiscal policy. nbsp

  5. The fiscal compact, cyclical adjustment and the remaining leeway for expansionary fiscal policies in the Euro area

    Directory of Open Access Journals (Sweden)

    Truger Achim

    2015-01-01

    Full Text Available Fiscal policy in the Euro area is still dominated by austerity measures implemented under the institutional setting of the “reformed” stability and growth pact, and the even stricter “fiscal compact”. At the same time, calls for a more expansionary fiscal policy to overcome the economic crisis have become more frequent, recently. Therefore, the article tries to assess the remaining leeway for a truly expansionary fiscal policy within the existing institutional framework. Special emphasis is put on the method of cyclical adjustment employed by the European commission in order to assess member states’ fiscal position and effort. It turns out that even in the existing framework the leeway for a macroeconomically and socially more sensible fiscal policy using the interpretational leeway inherent in the rules is quite substantial.

  6. THE SUSTAINABILITY OF THE FISCAL-BUDGETARY POLICY IN THE CONTEXT OF TAXATION SYSTEM REDUCTION

    Directory of Open Access Journals (Sweden)

    Cristian MOCAN

    2015-08-01

    Full Text Available The estimation of the budgetary impact determined by the Government’s proposition of modifying Law no. 571/2003 regarding the Fiscal code, respectively the diminution of the central levies and taxes (VAT, profit tax, income tax, microenterprises’ income tax, excises, etc., represents a mandatory condition provided by the legislation in the field, having as primary role the observance of the fiscal budgetary policy’s objectives on medium-term and long-term assumed by Romania through the Treaty regarding the stability, coordination and governance in the European Union. The tax sustainability on medium-term and long-term supposes that the Government promotes a cautious fiscal-budgetary policy and an efficient administration of the appeared risks that wouldn’t imply adjustments of the expenses, incomes or a budgetary deficit with adverse economic and social effects.This work intends to analyze the financial impact on Romania’s budget following the proposition of the Government to reduce the central levies and taxes, the opportunity of adopting a high fiscal relaxation while observing the medium-term and long-term budgetary objectives and the consolidation of the existing macroeconomic balances. The data used in the proposed scientific work takes into consideration the estimated VAT and GDP for 2015-2017 in Romania. The set of used data was available in the database of ANAF and the data provided in the Fiscal budgetary strategy 2015-2017.The results of the study highlight the importance of the correct dimensioning of the effects of the first round and those of the second round represented by the fiscal relaxation measures in the revision project of law no. 571/2003 regarding the Fiscal code in the context of using fiscal multipliers and the elasticity of the budgetary aggregates.

  7. Fiscal Challenge: An Experiential Exercise in Policy Making

    Science.gov (United States)

    Aguilar, Mike; Soques, Daniel

    2015-01-01

    In this article, the authors introduce a pedagogical innovation that is designed to enhance students' understanding of fiscal policy in general, and the national debt and deficit in particular. The innovation leverages the educational advantages offered through a competitive environment by pitting teams of students against one another with the…

  8. Fiscal deficits, financial fragility, and the effectiveness of government policies

    NARCIS (Netherlands)

    Kirchner, M.; van Wijnbergen, S.

    2016-01-01

    Recent developments in the euro area highlighted the interactions between fiscal policy, sovereign debt and financial fragility. We introduce asset choice and sovereign debt holdings in banks’ portfolios in an otherwise standard macroeconomic model with financial frictions, to emphasize a new crowdi

  9. Fiscal deficits, financial fragility, and the effectiveness of government policies

    NARCIS (Netherlands)

    Kirchner, M.; van Wijnbergen, S.

    2012-01-01

    Recent macro developments in the euro area have highlighted the interactions between fiscal policy, sovereign debt, and financial fragility. We take a structural macroeconomic model with frictions in the financial intermediation process, in line with recent research, but introduce asset choice and

  10. Interactions between Monetary and Fiscal Policy via Open Market Operations

    NARCIS (Netherlands)

    Schabert, A.

    2004-01-01

    We examine interactions of monetary and fiscal policy in a sticky price model where public debt is non-neutral, as it provides transaction services. This property is brought about by a legal restriction on open market operations by which only government bonds are eligible. Debt creation eases access

  11. State Outlook: Fiscal and Public Policy Issues Affecting Postsecondary Education

    Science.gov (United States)

    American Association of State Colleges and Universities, 2010

    2010-01-01

    This publication provides a compilation of the issues affecting postsecondary education in America. The contents of this issue include: (1) Overview of Economic and Fiscal Policy Dynamics; (2) July 2010 Economic Snapshot; (3) State Economic Conditions and Budget Outlook; (4) State Budget Pressures; (5) State Budget Realignment Strategies; (6)…

  12. Fiscal Challenge: An Experiential Exercise in Policy Making

    Science.gov (United States)

    Aguilar, Mike; Soques, Daniel

    2015-01-01

    In this article, the authors introduce a pedagogical innovation that is designed to enhance students' understanding of fiscal policy in general, and the national debt and deficit in particular. The innovation leverages the educational advantages offered through a competitive environment by pitting teams of students against one another with the…

  13. Interactions between Monetary and Fiscal Policy via Open Market Operations

    NARCIS (Netherlands)

    Schabert, A.

    2004-01-01

    We examine interactions of monetary and fiscal policy in a sticky price model where public debt is non-neutral, as it provides transaction services. This property is brought about by a legal restriction on open market operations by which only government bonds are eligible. Debt creation eases access

  14. The role of fiscal policy in Europe’s economic integration

    Directory of Open Access Journals (Sweden)

    G. CAMPA

    2013-10-01

    Full Text Available To achieve the objectives set forth for “Europe 1992” a greater and more effective macroeconomic coordination is necessary, both within each country and within the Community at large. The present work deals with fiscal policy, both at the intra-Community level of coordination of national policies, and at the supranational level aimed at absorbing autonomous forces of diversified growth. The author argues that if an economic and monetary union requires a regionally oriented policy of stabilisation and development, the short and medium term economic policy, in the case of budgetary instruments, needs to be realised through a supranational discipline with more detailed ways in which resources can and must be transferred from one region to another and in which these resources may be exempted from different regions.

  15. Austerity, cyclical adjustment and the remaining leeway for expansionary fiscal policies in the Euro area

    OpenAIRE

    Truger, Achim

    2014-01-01

    Fiscal policy in the Euro area is still dominated by austerity measures implemented under the institutional setting of the 'reformed' stability and growth pact, and the even stricter 'fiscal compact'. At the same time, calls for a more expansionary fiscal policy to overcome the economic crisis have become more frequent, recently. Therefore, the article tries to assess the remaining leeway for a truly expansionary fiscal policy within the existing institutional framework. Special emphasis is p...

  16. Fiscal Policy and Term Structure of Interest Rate in Nigeria

    Directory of Open Access Journals (Sweden)

    Oseni O. Isiaq

    2016-10-01

    Full Text Available The study examines the effects of fiscal policy on term structure of interest rate in Nigeria between 1981 and 2014. The paper built on the fact that continuous increase in fiscal deficit in Nigeria has not translated into equal change in term structure of interest rate as proposed by the economic theory. Using secondary annual time series data which are obtained from Central Bank statistical bulletin, 2014, the paper employed appropriate econometric techniques such unit-root test, Johansen Co-integration technique, Error Correction Mechanism and Fully Modified Ordinary Least Squares. The paper shows that fiscal deficit has a positive and significant effect on term structure of interest rate in Nigeria and concludes that consumers are not forward-looking in Nigeria as proposed by Ricardian Equivalence Hypothesis theory. Consumers in Nigeria increase their consumptions has government employed expansionary fiscal policy which may reduce the savings and investment. Consequently, reduces growth. Thus, the implication is that fiscal deficit could responsible for the uncertainties and inconsistencies in the term structure of interest rates in Nigeria.

  17. The effects of discretionary fiscal policy on macroeconomic aggregates

    Directory of Open Access Journals (Sweden)

    Stevan Gaber

    2013-04-01

    Full Text Available We review the evidence on the practice and effects of discretionary fiscal policy, particularly in the context of recent efforts to stimulate the economy, reaching two main conclusions. First, policy interventions have increased in this decade, pre-dating the 2009 stimulus. Second, despite a large economic literature on the topic, the state of theory and evidence is not as "shovel ready" as one would like. Although consumption and investment clearly respond to tax incentives and structural vector autoregressions show that lower taxes and higher government purchases can boost output, it is difficult to apply the findings in the current context, in part because multipliers and policy lags are likely to vary with economic conditions. This paper surveys the theoretical predictions and recent empirical Vector Autoregression (VAR evidence on the short-run effects of discretionary fiscal policy on macroeconomic aggregates.

  18. Sustainability of the Brazilian fiscal policy and central bank independence

    Directory of Open Access Journals (Sweden)

    Viviane Luporini

    2000-06-01

    Full Text Available This paper analyzes the sustainability of fiscal policy in Brazil since the financial reform of 1965 and discusses how the relationship between the Treasury and the Central Bank has determined the federal government's capacity to finance itself. A sustainable policy is defined as one such that the discounted government debt as a ratio to the GDP is backed by expected primary surpluses of equal present-value. In the context of an infinite-horizon framework, sustainability is tested through the mean-zero stationarity of the discounted debt/GDP ratio. Although the overall results indicate sustainability, tests on subsamples show that the fiscal policy was sustainable prior to 1980, but it assumed an unsustainable path during the 80's and early 90's.Este artigo analisa a sustentabilidade da política fiscal brasileira desde a reforma financeira de 1965 e discute como o relacionamento entre o Tesouro e o Banco Central tem determinado a capacidade do governo federal brasileiro de se financiar. A política fiscal governamental pode ser considerada sustentável se o valor discontado de sua dívida mobiliária como fração do PIB for respaldada por superávits fiscais primários de mesmo valor-presente. Em um quadro analítico de horizonte-infinito, a sustentabilidade da política fiscal brasileira é testada através da estacionaridade da razão dívida/PIB ao redor da média zero. Embora os resultados gerais indiquem sustentabilidade, os testes implementados em dois subconjuntos da amostra sugerem que a política fiscal assumiu um padrão insustentável após 1981.

  19. Monetary and Fiscal Policies for a Finite Planet

    Directory of Open Access Journals (Sweden)

    Adam Scanlan

    2013-06-01

    Full Text Available Current macroeconomic policy promotes continuous economic growth. Unemployment, poverty and debt are associated with insufficient growth. Economic activity depends upon the transformation of natural materials, ultimately returning to the environment as waste. Current levels of economic throughput exceed the planet’s carrying capacity. As a result of poorly constructed economic institutions, society faces the unacceptable choice between ecological catastrophe and human misery. A transition to a steady-state economy is required, characterized by a rate of throughput compatible with planetary boundaries. This paper contributes to the development of a steady-state economy by addressing US monetary and fiscal policies. A steady-state monetary policy would support counter-cyclical, debt-free vertical money creation through the public sector, in ways that contribute to sustainable well-being. The implication for a steady-state fiscal policy is that any lending or spending requires a careful balance of recovery of money, not as a means of revenue, but as an economic imperative to meet monetary policy goals. A steady-state fiscal policy would prioritize targeted public goods investments, taxation of ecological “bads” and economic rent and implementation of progressive tax structures. Institutional innovations are considered, including common asset trusts, to regulate throughput, and a public monetary trust, to strictly regulate money supply.

  20. CONSIDERATIONS ON FISCAL POLICY AS A TOOL OF ECONOMIC RECOVERY

    Directory of Open Access Journals (Sweden)

    Stoichin Elena Mădălina

    2012-03-01

    Full Text Available One of the most important components of social and economic life is the public finances, with direct implications on the formation and distribution of gross domestic product. State, in order to establish their own funds to set up the concept according to which, any natural or legal person carrying out an income or owns a dime in the category of those taxable in the State due to tax or duty. Starting from these considerations, the paper analyses, on the one side, the influencing factors and effects of increasing fiscal pressure, and, on the other side, the role of fiscal policy in the economic relaunch.

  1. Fiscal Policy Ukraine on the Modern Stage

    Directory of Open Access Journals (Sweden)

    Malyshko Vitalina

    2017-01-01

    Full Text Available The article investigates and analyzes the financial policy of Ukraine today. The problem of financial policy and defined its basic types. Some measures to improve the financial situation in Ukraine.

  2. 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…

  3. 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

  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. 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

  6. Mix of Fiscal and Monetary Policy Rules and Inflation Dynamics in China%Mix of Fiscal and Monetary Policy Rules and Inflation Dynamics in China

    Institute of Scientific and Technical Information of China (English)

    Qingwang Guo; Junxue Jia; Yongjie Zhang; Zhiyun Zhao

    2011-01-01

    The present paper examines the role of the mix of fiscal and monetary policy rules in determining inflation dynamics using fiscal and monetary policy reaction func.tions and Markov-switching vector autoregression methods based on quarterly data in the period 1992-2007. Our results show that fiseal and monetary policies in China can be adequately described using some simple rules, and that significant regime shifts took plaee around 1998. Fiscal policy tended to be active and countereyclical in the pre-1998 period, then switched to be passive and more eountercyclical, whereas monetary policy was characterized as passive and procyclical in the pre-1998 period, and switched to be active and countercyclical afterwards. The mix of fiscal and monetary policy rules can explain inflation dynamics better than the monetary policy rule alone. Therefore, price stability requires not only appropriate monetary policy but also appropriate fiseal policy.

  7. Five essays on fiscal policy, intergenerational welfare and petroleum wealth

    Energy Technology Data Exchange (ETDEWEB)

    Thoegersen, Oe.

    1994-12-01

    Motivated by current macro economic problems facing the Norwegian economy, this thesis deals with fiscal policy and the management of petroleum wealth in a small open resource economy. The thesis highlights the fact that considerable parts of the petroleum revenues are collected by the government and studies in particular the interaction between fiscal policy, uncertain petroleum revenues and welfare between generations. Essay 1 is a paper on the calculation of the Norwegian petroleum wealth and surveys economic effects of the development of the petroleum sector and the spending of the petroleum revenues. Essay 2 deals with the effects of uncertain government petroleum revenues on fiscal policy, wealth accumulation and inter generational welfare. In Essay 3 a discussion is given of the effects of oil price risk on international risk sharing. Petroleum importing and exporting countries are considered within OECD-Europe. A possible wealth consumption policy is found to have serious and long-lasting negative effects on the welfare of coming generations, as described in Essay 4. Finally, Essay 5 considers a dynamic dependent economy model extended to incorporate finite horizons of the households and structural adjustment costs in production. 121 refs., 19 figs., 10 tabs.

  8. The interaction of fiscal and monetary policy in a monetary union : Balancing credibility and flexibility

    NARCIS (Netherlands)

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

    1995-01-01

    This paper explores how decentralized, national fiscal policies interact with a common monetary policy in a monetary union. We show that fiscal policy plays a more important ro le in stabilizing country-specific shocks than with national monetary policies. Whereas monetary u nification with an

  9. Monetary and Fiscal Policy Interaction in the EMU: A Dynamic Game Approach

    NARCIS (Netherlands)

    Aarle, B. van; Engwerda, J.; Plasmans, J.E.J.

    2002-01-01

    The interaction of monetary and fiscal policies is a crucial issue in a highly integrated economic area as the European Union. We investigate to which extent the EMU, that introduced a common monetary policy and restrictions on fiscal policy at the national level, benefits from macroeconomic policy

  10. The interaction of fiscal and monetary policy in a monetary union : Balancing credibility and flexibility

    NARCIS (Netherlands)

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

    1995-01-01

    This paper explores how decentralized, national fiscal policies interact with a common monetary policy in a monetary union. We show that fiscal policy plays a more important ro le in stabilizing country-specific shocks than with national monetary policies. Whereas monetary u nification with an optim

  11. Restoring international competitiveness in Croatia: The role of fiscal and monetary policy

    Directory of Open Access Journals (Sweden)

    Ćorić Tomislav

    2013-01-01

    Full Text Available Croatia has joined the European Union as a country with several substantial structural problems, of which the most important is weak competitiveness. Although competitiveness can be viewed from the ‘institutional’ perspective, which includes World Development Indicators (WDI and Doing Business reports, in this paper the authors focus on the more standard view of competitiveness based on unit labour costs (ULC and real effective exchange rate (REER. As a small, open and highly dollarized/euroised economy that has to coordinate its economic policy with the EU policy framework, Croatia has limited space for increasing international competitiveness using monetary policy measures aimed at (nominal devaluation of the national currency. Therefore economic policy stakeholders should focus on decreasing unit labour costs and real effective exchange rate mainly through the process of internal devaluation, which is based on adequate fiscal policy measures. In this paper the authors analyse the role of monetary and fiscal policy in the deteriorating real effective exchange rate and unit labour costs since 2000, and their current capabilities and restrictions in restoring international competitiveness. The Structural VAR model (SVAR is used to estimate the effects of foreign (banking capital, credit growth, and current public expenditure on REER and ULC. The preliminary hypothesis of the paper is that monetary policy should continue to support bank lending activities and the role of fiscal policy is to achieve an internal devaluation, which will increase the competitiveness of the Croatian economy. Restoring international competitiveness is necessary due to its impact on net exports and consequently the economic recovery of the national economy, which has faced recession conditions for five years in a row. Also, restoring competitiveness is one of the most important preconditions for the success of a small country joining the single European market.

  12. THE FISCAL DIMENSION OF THE ENVIRONMENT POLICY

    Directory of Open Access Journals (Sweden)

    Monica SUSANU

    2006-01-01

    Full Text Available Present for the first time on the European order of business at the beginning of the ‘70s, the concern for the environment gains a distinctive nature as the Rome Club signalled the diminishing of the natural resources and the rapid deterioration of the quality of water, air and soil, of climate in general. Starting with 1972 the community environment policy was created and developed as one of the most important common policies. Although it does not match the funding for the regional or the agricultural policies, the environment policy has become important due to the fact that it hasto be approached when conceiving and applying the rest of community policies. The sustainable development strategy, the way it was adopted and (reconfirmed at the international summits in the last two decades (Rio – 1992, Johannesburg – 2002 and the Kyoto protocol, has become the main element of action of the environment policy measures. The preoccupation for nature precedes and accompanies all actions and orientations of social and economicpolicies because it is motivated by the care for the primordial heritage of the future generations: the planet’s health.The environment policy reflects the interest of the entire society in nature and the numerous green movements, environment organizations and political parties, that display a successful raise on the political arena, express the evolution of mentalities and attitudes as well as the degree of accountability of the governorsand the governed towards this vital aspect for the present and the future.

  13. Boosting confidence: is there a role for fiscal policy?

    OpenAIRE

    Panagiotis Konstantinou; Athanasios Tagkalakis

    2010-01-01

    This paper investigates the widely held view that expansionary fiscal policy can boost consumer and business confidence, which will stimulate private spending and sustain economic activity. We find evidence in favor of this conjecture, i.e., cuts in direct taxes generate a positive effect on consumer and business confidence, while the same applies in cases of higher non-wage government consumption. However, higher government wage bills and government investment reduce confidence, possibly bec...

  14. Policy Autonomy, Coordination or Harmonization in the Persistently Heterogeneous European Union?

    Directory of Open Access Journals (Sweden)

    Kouba Luděk

    2016-03-01

    Full Text Available Within the context of the continuing integration process in Europe, this paper addresses the question of whether policies in the EU should head towards autonomy, coordination or harmonization. Taking the path dependence effect into account, it is the authors’ opinion that Europe has gone too far in its integration process to be able to continue with policies being fully under the competences of individual member countries. However, the habitual question still arises: does fiscal policy need to be harmonized to a level comparable to monetary policy as these two policies, necessarily, complement each other? This paper argues that it does not. There are three main arguments discussed. Firstly, the authors build on the theory of fiscal federalism. Secondly, there are significantly different regimes of welfare states and extents of social policies among European countries, which strongly determine the character of public finance. And thirdly, the tax systems across Europe are also highly divergent, with many features of continuing tax competition.

  15. Liquidity Constraints and Fiscal Stabilization Policy

    DEFF Research Database (Denmark)

    Kristoffersen, Mark Strøm

    It is often claimed that the presence of liquidity constrained households enhances the need for and the effects of fi…scal stabilization policies. This paper studies this in a model of a small open economy with liquidity constrained households. The results show that the consequences of liquidity...

  16. Model Proposition for the Fiscal Policies Analysis Applied in Economic Field

    Directory of Open Access Journals (Sweden)

    Larisa Preda

    2007-05-01

    Full Text Available This paper presents a study about fiscal policy applied in economic development. Correlations between macroeconomics and fiscal indicators signify the first steep in our analysis. Next step is a new model proposal for the fiscal and budgetary choices. This model is applied on the date of the Romanian case.

  17. 75 FR 39391 - Funding and Fiscal Affairs, Loan Policies and Operations, and Funding Operations; Capital...

    Science.gov (United States)

    2010-07-08

    ... Administration 12 CFR Part 615 Funding, Fiscal Affairs, Loan Policies and Funding Operations; Proposed Rule #0;#0... ADMINISTRATION 12 CFR Part 615 RIN 3052-AC61 Funding and Fiscal Affairs, Loan Policies and Operations, and... Policy, Farm Credit Administration, 1501 Farm Credit Drive, McLean, VA 22102-5090. You may review copies...

  18. 78 FR 34550 - Funding and Fiscal Affairs, Loan Policies and Operations, and Funding Operations; Accounting and...

    Science.gov (United States)

    2013-06-10

    ... 12 CFR Parts 615, 621, and 652 RIN 3052-AC75 Funding and Fiscal Affairs, Loan Policies and Operations... Corporation Funding and Fiscal Affairs; GAAP References and Other Conforming Amendments; Effective Date AGENCY.... Wilson, Policy Analyst, Office of Regulatory Policy, Farm Credit Administration, McLean, VA 22102-5090...

  19. Coordination of Public Debt Management and Running Monetary Policy in Croatia

    Directory of Open Access Journals (Sweden)

    Zorica Raspudić Golomejić

    2007-06-01

    Full Text Available This paper deals with the issue of the coordination of public debt management and running monetary policy in Croatia, and draws attention to the importance of this kind of coordination for macroeconomic stability. Particular attention is paid to the management of public debt and the running of monetary policy in Croatia as practiced to date, and the problems that have arisen the while. Also given are the most important measures that the Croatian National Bank has taken to make it easier to manage the public debt and achieve better coordination with the Finance Ministry. There is more detailed discussion of the introduction of open market operations, the most important step taken towards better coordination of the running of monetary policy and the management of the public debt. Since the introduction of open market operations, interest rates on the interbank market and on the government bonds market have oscillated far less and have stabilized at a lower level. This should facilitate public debt management and provide for greater predictability in the planning of debt management costs. The final section discusses the importance of the further development of the government bonds market for the improvement of coordination in Croatia. The conclusion makes concrete proposals for the improvement of coordination: the achievement of an at least approximate consensus about the optimum combination of fiscal and monetary policy and the establishment of mechanisms for regular exchanges of information between the Finance Ministry and the Croatian National Bank for the purpose of harmonizing fiscal and monetary policy.

  20. The effects of fiscal policy after the global recession: assessing the evidences

    Directory of Open Access Journals (Sweden)

    Luiz Fernando de Paula

    2013-06-01

    Full Text Available This paper offers a commented review of the most recent empirical studies of the effects of fiscal contraction on economic growth, which have helped underpin the prescription that fiscal policy should be expansionary in coming years in order to contain economic semi-stagnation in the developed countries. The paper shows that there is ample literature showing that fiscal expansion helps the economy grow, and that fiscal contraction tends to reduce output and employment in the short term.

  1. Impact of Monetary Policy and Fiscal Policy on Indonesian Stock Market

    Directory of Open Access Journals (Sweden)

    Rossanto Dwi HANDOYO

    2015-05-01

    Full Text Available This paper attempts to investigate the effect of fiscal and monetary policy on Indonesian Stock price as well as main sectors stock price such as agricultural, mining, manufacture, and financial sector indexes. We consider the world oil price as a foreign variable that will influence domestic economy as in regular small open economy model. In this paper, we employ the Monte Carlo algorithm to Near-SVAR models (If some of the VAR equations have regressors not included in the others. We find that there is a positive stock price response to monetary policy shock both aggregated and sectoral stock price. In term of interaction between fiscal policy shock and stock market, we find that all sectors respond negative relationship. From this empirical finding, fiscal policy crowd out private sector activity in market, thus, its effect will be impotent in economy. We also provide the evidence that not only both policies are able to influence the stock price individually, but also the interaction between monetary and fiscal policy is important in explaining stock market performance.

  2. Fiscal Policies and Endogenous Growth in Integrated Capital Markets

    NARCIS (Netherlands)

    Lejour, A.M.; Verbon, H.A.A.

    1996-01-01

    This paper examines the effects of policy coordination in a two-country world with endogenous growth and imperfect capital mobility.Public investment and a public consumption good are financed by a source-based capital-income tax. By comparing the cases in which countries do and do not coordinate th

  3. The Impact of Fiscal Policies on the Socioeconomic Determinants of Health: A Structured Review.

    Science.gov (United States)

    Mosquera, Isabel; González-Rábago, Yolanda; Bacigalupe, Amaia; Suhrcke, Marc

    2016-12-02

    There has been considerable recent debate around the alleged impact of discretionary fiscal policies - especially austerity policies - on health and health inequalities. Assuming that most of the impact will have to run via the effect of fiscal policies on socioeconomic determinants of health (SDH), it is of interest to gain a further understanding of the relationship between fiscal policies and SDH. Therefore, the aim of this article is to review the recent evidence on the impact of discretionary fiscal policies on key SDH, i.e. income, poverty, education, and employment, in high income OECD countries. We find that there are no simple answers as to how fiscal policy affects those determinants of health. The effects of contractionary and expansionary fiscal policies on the analyzed SDH vary considerably across countries and will largely depend on the pre-crisis situation. Contractionary fiscal policies seem to have increased poverty, while their impact on income inequality will be influenced by the composition of the implemented measures. More empirical research trying to directly link fiscal policies to health outcomes, while taking into account of some of the mechanisms encountered here, would be worthwhile.

  4. 78 FR 21035 - Funding and Fiscal Affairs, Loan Policies and Operations, and Funding Operations; Accounting and...

    Science.gov (United States)

    2013-04-09

    ... 12 CFR Parts 615, 621, and 652 RIN 3052-AC75 Funding and Fiscal Affairs, Loan Policies and Operations... Corporation Funding and Fiscal Affairs; GAAP References and Other Conforming Amendments AGENCY: Farm Credit... the effective date in the Federal Register. FOR FURTHER INFORMATION CONTACT: Michael T. Wilson, Policy...

  5. 42 CFR 476.80 - Coordination with Medicare fiscal intermediaries and carriers.

    Science.gov (United States)

    2010-10-01

    ... prospective payment system for health care services and items; (2) Exchanging data or information; (3... 42 Public Health 4 2010-10-01 2010-10-01 false Coordination with Medicare fiscal intermediaries and carriers. 476.80 Section 476.80 Public Health CENTERS FOR MEDICARE & MEDICAID SERVICES,...

  6. Coordination between the monetary and public debt management policies in Croatia

    Directory of Open Access Journals (Sweden)

    •Zorica Raspudić Golomejić

    2012-06-01

    Full Text Available This paper explains the main characteristics of and prerequisites for coordination between the measures and instruments of monetary and public debt management policies in Croatia and evaluates current practice, particularly over the last two recession years. Attention is drawn to the importance of coordination for achieving macroeconomic stability and to the main problems and challenges obstructing successful coordination. It is assessed that the Croatian National Bank (CNB, with its measures and instruments, has consistently contributed to improving coordination with the public debt management policy, despite the narrowing of its room for manoeuvre due to a complex economic environment and the specific functioning of the transmission mechanism of monetary policy. Notwithstanding some contribution to coordination made by the Government and Ministry of Finance, they must take measures and employ instruments to make more significant adjustments and, together with the CNB, define an optimum fiscal and monetary policy mix for the future that will ensure stable economic growth. This paper gives an overview of major CNB measures aimed at facilitating the public debt management and improving coordination with the Ministry of Finance, and presents a detailed analysis of open market operations. It also points to a certain contribution of the Ministry of Finance to the coordination improvement, indicating major barriers to effective coordination between these important policies.

  7. The fiscality, tool of an energy policy; La fiscalite, instrument d'une politique de l'energie

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2001-12-15

    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.)

  8. Evaluating the Relative Impact of Monetary and Fiscal Policy in Nigeria using the St. Louis Equation

    Directory of Open Access Journals (Sweden)

    Michael Adebayo Ajayi

    2017-02-01

    Full Text Available The controversy existing on the efficacy of monetary and fiscal policy to influence the economy is unending. This study evaluates the relative impact of monetary and fiscal policy in Nigeria from 1986 to 2014 using a modified St. Louis equation. Employing the Ordinary Least Squares estimation method, this study reveals that growth in money supply and export have a positive and significant effect on growth in output of the economy while growth in government expenditure has a negative and insignificant effect. This study provides evidence that monetary policy has a greater growth-stimulating effect on the economy than fiscal policy. It recommends that monetary policy rather than fiscal policy should be relied upon by the Nigerian government as an economic stabilisation tool.

  9. CONSTITUTIONAL ECONOMICS APPROACH TO FISCAL POLICY IMPLEMENTATIONS IN TRANSITION ECONOMIE

    Directory of Open Access Journals (Sweden)

    İlter ÜNLÜKAPLAN

    2017-03-01

    Full Text Available According to the "Constitutional Economics", which formes the basic point of view of the application of the Public Choice Theory to the economic policy, it is essential to make an economic analysis of the behavior of the actors who take part in the political process in order to determine the constitutional level of the authorities of the state and the limits of the state. The view that dominated until the beginning of the 1970s in economics was that the state would be able to achieve desirable macroeconomic targets with active demand policies. However, developments that emerged in these years can not be explained by traditional economic theories have brought with it a doubt that they will lead to demandoriented economic policies. The Constitutional Economics Approach, which finds its roots from the Social Contract Theory and Public Choice Theory, argues that the behavior of the units taking part in the political and economic field, questioning the active role of the state, can be transformed into arbitrary applications by acting from the Maximand primacy is regarded as an alternative to active economic policies. In this study, the foundations, assumptions and proposals of the theory of the Constitutional Economics will be examined, then the concept of transition economy will be explained and the role of the state in transition economies will be questioned and the importance of creating a fiscal constitution in this countries will be emphasized

  10. [Tobacco consumption, mortality and fiscal policy in Mexico].

    Science.gov (United States)

    Guerrero-López, Carlos Manuel; Muños-Hernández, José Alberto; Sáenz de Miera-Juárez, Belén; Reynales-Shigematsu, Luz Myriam

    2013-01-01

    To analyze tobacco consumption in the last 12 years, its impact on chronic diseases mortality and the potential benefits of fiscal policy in Mexico. Through the analysis of national health surveys (ENSA, ENSANUT), records of mortality and economic surveys between 2000 and 2012, smoking prevalence, chronic diseases mortality and consumption were estimated. In 2012, 9.2% and 19% of Mexican youths and adults were current smokers. Between 2000 and 2012, smoking prevalence did not change. However, the average consumption among adolescents and adults declined whilst the special tobacco tax has being increased. Mortality attributable to tobacco consumption for four diseases was estimated in 60 000 in 2010. Tobacco consumption remains the leading cause of preventable death. Increasing taxes on tobacco products could deter the tobacco epidemic and consequently chronic diseases mortality in Mexico.

  11. Energy Materials Coordinating Committee, fiscal year 1997. Annual technical report

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    1998-07-31

    The DOE Energy Materials Coordinating Committee (EMaCC) serves primarily to enhance coordination among the Department`s materials programs and to further effective use of materials expertise within the Department. These functions are accomplished through the exchange of budgetary and planning information among program managers and through technical meetings/workshops on selected topics involving both DOE and major contractors. In addition, EMaCC assists in obtaining materials-related inputs for both intra- and interagency compilations. This report summarizes EMaCC activities for FY 1997 and describes the materials research programs of various offices and divisions within the Department.

  12. Fiscal Policy in Indonesia: Analysis of State Budget 2017 in Islamic Economic Perspective

    OpenAIRE

    Jaelani, Aan

    2017-01-01

    This study of fiscal policy in State Budget (APBN) 2017 that the task of the Indonesian government to run them to create prosperity for the community. The state budget is prepared using the rules of public economics consisting of state revenues, state expenditures, and budget financing have the posture of the budget, the issues of fiscal policy, and the role of the government in carrying out its functions. With the analysis of Islamic economics, fiscal policy in the State Budget 2017 is the d...

  13. Fiscal policy in Indonesia: Analysis of state budget 2017 in Islamic economic perspective

    OpenAIRE

    Jaelani, Aan

    2016-01-01

    This study of fiscal policy in State Budget (APBN) 2017 that the task of the Indonesian government to run them to create prosperity for the community. The state budget is prepared using the rules of public economics consisting of state revenues, state expenditures, and budget financing have the posture of the budget, the issues of fiscal policy, and the role of the government in carrying out its functions. With the analysis of Islamic economics, fiscal policy in the State Budget 2017 is the d...

  14. Energy Materials Coordinating Committee (EMaCC) annual technical report, fiscal year 1984 with fiscal year 1985 data

    Energy Technology Data Exchange (ETDEWEB)

    None

    1985-07-01

    The Department of Energy funded about 374 million dollars of materials science and technology activities in both fiscal years 1984 and 1985. These funds and the commensurate program management responsibilities resided in 21 DOE program offices, each of which has its own mission and responsibilities. The Energy Materials Coordinating Committee (EMaCC) provides a formal mechanism to insure coordinated planning and maximum programmatic effectiveness for the Department's 374 million dollar per year materials effort. The EMaCC reports to the Director of the Office of Energy Research who in turn has oversight responsibilities for proper coordination of the technical programs of the Department. In carrying out this responsibility, EMaCC hosts meetings, organizes working groups, and publishes an annual technical report. This report is mandated by the EMaCC Terms of Reference. Its purpose is to disseminate information on the DOE materials programs for more effective coordination. It describes the materials research programs of various offices and divisions within the Department for FY 1984, contains funding information for FYs 1984 and 1985, and summarizes EMaCC activities for FY 1985.

  15. Cooperative and non-cooperative fiscal stabilization policies in the EMU

    NARCIS (Netherlands)

    Engwerda, J.; Aarle, B. van; Plasmans, J.E.J.

    2002-01-01

    In this paper we analyze the interaction of fiscal stabilization policies in the Economic and Monetary Union (EMU). The ‘Excessive Deficits’ procedure of the Maastricht treaty and its elaborations in the recent ‘Stability and Growth Pact’ introduce a set of fiscal stringency requirements on national

  16. Essays on monetary and fiscal policy interaction : Applications to EMU and Eastern Europe

    NARCIS (Netherlands)

    van Aarle, B.

    1996-01-01

    The interaction of monetary and fiscal policies encompasses much research material and covers a respectable area in theoretical macroeconomics. In this broad research field, three different focuses are discernible. A first line of research studies the dynamic interdependence of monetary and fiscal

  17. The impact of fiscal policy on government bond spreads in emerging markets

    Directory of Open Access Journals (Sweden)

    Ante Žigman

    2011-12-01

    Full Text Available Spreads on government bonds are a collective expression of differences in the level of development, risk, expected returns and other essential characteristics of states or regions the bond yields of which we wish to compare. At issue here is a collective expression of factors that work on the bond supply and demand side. These are for example the political environment (or political risks, expected return, economic risks, expected inflation, expected change in the exchange rate, solvency, way in which the bonds of a given state fi t into the portfolios of the major investors and so on. The paper identifies the influence of fiscal and non-fiscal factors on movements in spreads on government bonds in emerging markets. The possibility of isolating fiscal from non-fiscal influences on spreads and the identification of the nature of fiscal impacts can be of great importance for the conduct of fiscal policy. The results obtained can be used for an optimisation of fiscal policy so as to avoid negative impacts on yields (i.e. a growth in yields, that is, a growth in the costs of government borrowing. This paper enlarges the line of research by querying whether the structure of deficit financing (domestic or foreign has an impact on bond yields in emerging markets, and how this impact is reflected on the other determinants of fiscal policy.

  18. Mechanism of Fiscal and Taxation Policies in the Geothermal Industry in China

    Directory of Open Access Journals (Sweden)

    Yong Jiang

    2016-09-01

    Full Text Available Geothermal energy is one of the cleanest sources of energy which is gaining importance as an alternative to hydrocarbons. Geothermal energy reserves in China are enormous and it has a huge potential for exploitation and utilization. However, the development of the geothermal industry in China lags far behind other renewable energy sources because of the lack of fiscal and taxation policy support. In this paper, we adopt the system dynamics method and use the causal loop diagram to explore the development mechanism of fiscal and taxation policies in the geothermal industry. The effect of the fiscal and taxation policy on the development of the geothermal industry is analyzed. In order to promote sustainable development of the geothermal industry in China, the government should pay more attention to subsidies for the geothermal industry in the life-cycle stage of the geothermal industry. Furthermore, a plan is necessary to provide a reasonable system of fiscal and taxation policies.

  19. 78 FR 2615 - Funding and Fiscal Affairs, Loan Policies and Operations, and Funding Operations; Investment...

    Science.gov (United States)

    2013-01-14

    ... of 12 U.S.C. 2252, the regulation amending 12 CFR part 615 published on November 5, 2012 (77 FR 66362... 3052-AC50 Funding and Fiscal Affairs, Loan Policies and Operations, and Funding Operations;...

  20. IMPLICATION OF FISCAL POLICY FOR THE ROMANIAN ECONOMY DURING 2000 - 2015

    Directory of Open Access Journals (Sweden)

    Narcisa Roxana MOSTEANU

    2015-08-01

    Full Text Available This paper aims to examine the result of implication of fiscal policy and their objectives in Romanian economy during 2000 – 2015. The analysis is focused on the expectations and results achieved through the implemented objectives of the fiscal policy. The paper draws especially on the results reflected in the revenues collected to the general consolidated budget of the state, in the share of deficit of general consolidated budget of the state in GDP, on the level of taxation. Also the paper use the financial and fiscal regulation during the period mentioned. Fiscal policy has intense interactions with regional policies, budgetary, monetary, social, as well as and development strategies, regional or national. This aspect is important in order to achieve macroeconomic stability, resulted in achieving sustainable economic growth, in condition of des-inflation, maintaining the current account deficit within limits financed in a sustainable way (in particular foreign direct investment and strengthening the state foreign exchange reserve.

  1. FISCAL POLICY INSTRUMENTS OF STABILIZATION OF PUBLIC FINANCES IN FOREIGN COUNTRIES

    Directory of Open Access Journals (Sweden)

    V. Zaichykova

    2013-07-01

    Full Text Available The article deals with topical issues to use the experience of foreign countries on measures of fiscal policy in reducing the public deficit, streamlining expenditure in terms of financial instability.

  2. Energy Materials Coordinating Committee (EMaCC). Fiscal year 1994

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    1995-07-31

    The committee serves primarily to enhance coordination among the Department`s materials programs and to further effective use of materials expertise within the Department. This is accomplished through the exchange of budgetary and planning information among program managers and through technical meetings/workshops involving DOE and major contractors. The program descriptions consist of a funding summary for each Assistant Secretary office and the Office of Energy Research, and detailed project summaries with project goals and accomplishments. A FY 1994 budget summary table for each program is included. A directory and a keyword index is included at the end of this document.

  3. Energy Materials Coordinating Committee (EMaCC), Fiscal year 1989

    Energy Technology Data Exchange (ETDEWEB)

    None

    1991-03-01

    The DOE Energy Materials Coordinating Committee (EMaCC) serves primarily to enhance coordination among the Department's materials programs and to further the effective use of materials expertise within the Department. These functions are accomplished through the exchange of budgetary and planning information among program managers and through technical meetings/workshops on selected topics involving both DOE and major contractors. Four topical subcommittees are established and are continuing their own programs: Structural Ceramics, Electrochemical Technologies, Radioactive Waste Containment, and Superconductivity. In addition, the EMaCC aids in obtaining materials-related inputs for both intra- and inter-agency compilations. The first part of the Program Descriptions consists of a funding summary for each Assistant Secretary office and the Office of Energy Research. This is followed by a summary of project titles and objectives, including the program/project manager(s) and principal investigator. The second part of the Program Descriptions consists of more detailed project summaries with project goals and accomplishments.

  4. Energy Materials Coordinating Committee (EMaCC), Fiscal year 1990

    Energy Technology Data Exchange (ETDEWEB)

    None, None

    1991-05-31

    The DOE Energy Materials Coordinating Committee (EMaCC) serves primarily to enhance coordination among the Department's materials programs and to further the effective use of materials expertise within the Department. These functions are accomplished through the exchange of budgetary and planning information among program managers and through technical meetings/workshops on selected topics involving both DOE and major contractors. Four topical subcommittees are established and are continuing their own programs: Structural Ceramics, Electrochemical Technologies, Radioactive Waste Containment, and Superconductivity. In addition, the EMaCC aids in obtaining materialsrelated inputs for both intra- and inter-agency compilations. Membership in the EMaCC is open to any Department organizational unit; participants are appointed by Division or Office Directors. The current active membership is listed on the following four pages. The EMaCC reports to the Director of the Office of Energy Research in his capacity as overseer of the technical programs of the Department. This annual technical report is mandated by the EMaCC terms of reference. This report summarizes EMaCC activities for FY 1990 and describes the materials research programs of various offices and divisions within the Department. The Chairman of EMaCC for FY 1990 was Scott L. Richlen; the Executive Secretary was Dr. Jerry Smith.

  5. Estimating simple fiscal policy reaction functions for the euro area countries

    OpenAIRE

    2014-01-01

    We formulate and estimate a simple fiscal policy reaction function for the euro area and individual euro area countries. Our reaction function allows for primary surpluses to feature three components: an anti-cyclical response of primary surpluses to the output gap, a response to the debt-GDP ratio, and an exogenous fiscal policy shifter. In line with the cyclical adjustment literature and in contrast with much of the previous time-series literature, we find a consistently strong anti-cyclica...

  6. 75 FR 68533 - Funding and Fiscal Affairs, Loan Policies and Operations, and Funding Operations; Capital...

    Science.gov (United States)

    2010-11-08

    ... 12 CFR Part 615 RIN 3052-AC25 Funding and Fiscal Affairs, Loan Policies and Operations, and Funding..., Office of Regulatory Policy, Farm Credit Administration, 1501 Farm Credit Drive, McLean, VA 22102-5090... Internet spam. FOR FURTHER INFORMATION CONTACT: Laurie Rea, Associate Director, Office of Regulatory Policy...

  7. One Money, But Many Fiscal Policies in Europe : What are the Consequences?

    NARCIS (Netherlands)

    Uhlig, H.F.H.V.S.

    2002-01-01

    This paper outlines some issues regarding the interaction of independent fiscal authorities and one central bank in the European monetary union.It points out the possibilities for coordination failures,ranging everywhere from potentially excessive deficits and free-riding problems to coordination fa

  8. One Money, But Many Fiscal Policies in Europe : What are the Consequences?

    NARCIS (Netherlands)

    Uhlig, H.F.H.V.S.

    2002-01-01

    This paper outlines some issues regarding the interaction of independent fiscal authorities and one central bank in the European monetary union.It points out the possibilities for coordination failures,ranging everywhere from potentially excessive deficits and free-riding problems to coordination

  9. Path Choice and Fiscal Policies of Three Gorges Reservoir in Post-Migration Era

    Institute of Scientific and Technical Information of China (English)

    2011-01-01

    The developmental status of the Three Gorges Reservoir in the post-migration era is expounded.Firstly,positioning of ecological reservoir is incompatible with its development;secondly,adopting the market selection and government-directed migration mode;thirdly,tough task in the post-migration era;fourthly,prevention of geological disasters and environmental management.After the analyses,the adoptable approaches for developing the Three Gorges Reservoir are concluded.The approaches cover supporting migrants and trying to stabilize and enrich them;supporting the development of industries around the reservoir;intensifying the construction of ecological environment in the reservoir;and strengthening the support of central fiscal policies.The policies and suggestions on developing the Three Gorges Reservoir from the perspective of fiscal policies are put forward.Firstly,they include the fiscal and tax measures on prompting ecological migration and stabilizing and enriching migrants.The specific measures include the fiscal and tax measures on promoting the employment of migrants;measures on providing social security for migrants;fiscal subsidies and preferential policies and increasing the input on solving the problems left after reconstruction.Secondly,they are the fiscal and tax measures for promoting the industrial development in the reservoir.The specific contents include displaying the functions of industrial fund to optimize the industrial structure of the reservoir;providing preferential policies on taxes to attract capitals and intensifying the strength of local finance.

  10. Interaction between fiscal and monetary policy in a dynamic nonlinear model.

    Science.gov (United States)

    Bertella, Mario A; Rego, Henio A; Neris, Celso; Silva, Jonathas N; Podobnik, Boris; Stanley, H Eugene

    2015-01-01

    The objective of this study is to verify the dynamics between fiscal policy, measured by public debt, and monetary policy, measured by a reaction function of a central bank. Changes in monetary policies due to deviations from their targets always generate fiscal impacts. We examine two policy reaction functions: the first related to inflation targets and the second related to economic growth targets. We find that the condition for stable equilibrium is more restrictive in the first case than in the second. We then apply our simulation model to Brazil and United Kingdom and find that the equilibrium is unstable in the Brazilian case but stable in the UK case.

  11. Interaction between fiscal and monetary policy in a dynamic nonlinear model.

    Directory of Open Access Journals (Sweden)

    Mario A Bertella

    Full Text Available The objective of this study is to verify the dynamics between fiscal policy, measured by public debt, and monetary policy, measured by a reaction function of a central bank. Changes in monetary policies due to deviations from their targets always generate fiscal impacts. We examine two policy reaction functions: the first related to inflation targets and the second related to economic growth targets. We find that the condition for stable equilibrium is more restrictive in the first case than in the second. We then apply our simulation model to Brazil and United Kingdom and find that the equilibrium is unstable in the Brazilian case but stable in the UK case.

  12. Deficit Policy within the Framework of the Stability and Growth Pact: Empirical Results and Lessons for the Fiscal Compact

    Science.gov (United States)

    2016-04-01

    FUNDING NUMBERS D eficit Policy Within the Framework of the Stability and Growth Pact: Empirical Results and Lessons for the Fiscal Compact 6. AUTHOR(S... Fiscal Policy 17. SECURITY CLASSIFICATION 18. SECURITY CLASSIFICATION 19, SECURITY CLASSIFICATION OF REPORT OF THIS PAGE OF ABSTRACT UNCLASSIFIED... POLICY WITHIN THE FRAMEWORK OF THE STABILITY AND GROWTH PACT EMPIRICAL RESULTS AND LESSONS FOR THE FISCAL COMPACT Nicolas Afftatet Zusammenfassung

  13. Fiscal and Monetary Policy via the Internet and Where Did the Too Many Dollars Come From? Lesson Plans.

    Science.gov (United States)

    Ripp, Ken

    This document contains two lesson plans. The first, "Fiscal and Monetary Policy via the Internet," seeks to expose high school students to Internet technology while introducing them to fiscal and monetary policy. Information gathering skills, economic understanding, policy application, and economic content retention should all be enhanced by this…

  14. Oil prices, fiscal policy, and economic growth in oil-exporting countries

    Science.gov (United States)

    El-Anshasy, Amany A.

    This dissertation argues that in oil-exporting countries fiscal policy could play an important role in transmitting the oil shocks to the economy and that the indirect effects of the changes in oil prices via the fiscal channel could be quite significant. The study comprises three distinct, yet related, essays. In the first essay, I try to study the fiscal policy response to the changes in oil prices and to their growing volatility. In a dynamic general equilibrium framework, a fiscal policy reaction function is derived and is empirically tested for a panel of 15 oil-exporters covering the period 1970--2000. After the link between oil price shocks and fiscal policy is established, the second essay tries to investigate the impact of the highly volatile oil prices on economic growth for the same sample, controlling for the fiscal channel. In both essays the study employs recent dynamic panel-data estimation techniques: System GMM. This approach has the potential advantages of minimizing the bias resulting from estimating dynamic panel models, exploiting the time series properties of the data, controlling for the unobserved country-specific effects, and correcting for any simultaneity bias. In the third essay, I focus on the case of Venezuela for the period 1950--2001. The recent developments in the cointegrating vector autoregression, CVAR technique is applied to provide a suitable framework for analyzing the short-run dynamics and the long-run relationships among oil prices, government revenues, government consumption, investment, and output.

  15. India's Proposed Universal Health Coverage Policy: Evidence for Age Structure Transition Effect and Fiscal Sustainability.

    Science.gov (United States)

    Narayana, Muttur Ranganathan

    2016-12-01

    India's High Level Expert Group on Universal Health Coverage in 2011 recommended a universal, public-funded and national health coverage policy. As a plausible forward-looking macroeconomic reform in the health sector, this policy proposal on universal health coverage (UHC) needs to be evaluated for age structure transition effect and fiscal sustainability to strengthen its current design and future implementation. Macroeconomic analyses of the long-term implications of age structure transition and fiscal sustainability on India's proposed UHC policy. A new measure of age-specific UHC is developed by combining the age profile of public and private health consumption expenditure by using the National Transfer Accounts methodology. Different projections of age-specific public health expenditure are calculated over the period 2005-2100 to account for the age structure transition effect. The projections include changes in: (1) levels of the expenditure as gross domestic product grows, (2) levels and shape of the expenditure as gross domestic product grows and expenditure converges to that of developed countries (or convergence scenario) based on the Lee-Carter model of forecasting mortality rates, and (3) levels of the expenditure as India moves toward a UHC policy. Fiscal sustainability under each health expenditure projection is determined by using the measures of generational imbalance and sustainability gap in the Generational Accounting methodology. Public health expenditure is marked by age specificities and the elderly population is costlier to support for their healthcare needs in the future. Given the discount and productivity growth rates, the proposed UHC is not fiscally sustainable under India's current fiscal policies except for the convergence scenario. However, if the income elasticity of public expenditure on social welfare and health expenditure is less than one, fiscal sustainability of the UHC policy is attainable in all scenarios of projected public

  16. Financial stability, monetary policy and budgetary coordination in EMU

    Directory of Open Access Journals (Sweden)

    Claudiu Tiberiu ALBULESCU

    2012-08-01

    Full Text Available A series of recent studies analyze the impact of financial crisis on the fiscal soundness in the Euro area countries. Even if their documented results present the transmission mechanisms of the financial instability toward the fiscal sector, a more realistic problem is related to the contribution of the fiscal and budgetary disequilibrium to the financial instability propagation. In this line, we show, based on a simple econometric model, that, beside the expansionary monetary policy, the budgetary deficit conducts to the financial stability deterioration. The financial stability of the Euro area is measured based on an aggregate financial stability index, constructed by employing the IMF methodology used for the financial stress index.

  17. Costa Rica During the Global Recession: Fiscal Stimulus with Tight Monetary Policy

    OpenAIRE

    Jose Antonio Cordero

    2009-01-01

    This paper shows that, in spite of a reasonably sized fiscal stimulus package, Costa Rica’s economy continues on a downward path, partly because fiscal policy is being offset by a tightening of monetary policy. The paper notes that the International Monetary Fund has insisted that Costa Rica’s monetary policy remain tight due to worries over inflation targets and a perceived risk of a balance of payments crisis. However, the author notes that the IMF could help prevent a balance of payments c...

  18. Central bank instruments, fiscal policy regimes, and the requirements for equilibrium determinacy

    NARCIS (Netherlands)

    Schabert, A.

    2006-01-01

    This paper examines the role of the monetary instrument choice for local equilibrium determinacy under sticky prices and different fiscal policy regimes. Corresponding to Benhabib et al.'s results for interest rate feedback rules [Benhabib, J., Schmitt-Grohé, S., Uribe, M., 2001. Monetary policy and

  19. Fiscal Policy Surveillance in the enlarged European Union: Procedural Checks or Simple Arithmetic?

    NARCIS (Netherlands)

    Groenendijk, Nico; Batten, Jonathan A.; Kearney, Colm

    2006-01-01

    In its recommendation on the 2004 update of the Broad Economic Policy Guidelines (BEPGs), the European Commission (2004) issued country-specific recommendations for fiscal policy in the Central and Eastern European (CEE) countries that have recently joined the European Union (EU) (henceforth the EU-

  20. 75 FR 30687 - Organization; Eligibility and Scope of Financing; Funding and Fiscal Affairs, Loan Policies and...

    Science.gov (United States)

    2010-06-02

    ..., 615, 619 and 620 RIN 3052-AC43 Organization; Eligibility and Scope of Financing; Funding and Fiscal Affairs, Loan Policies and Operations, and Funding Operations; Definitions; and Disclosure to Shareholders... Analyst, Office of Regulatory Policy, Farm Credit Administration, McLean, Virginia 22102-5090, (703) 883...

  1. Nudging for Prevention in Occupational Health and Safety in South Africa Using Fiscal Policies.

    Science.gov (United States)

    de Jager, Pieter; Rees, David; Kisting, Sophia; Kgalamono, Spo; Ndaba, Mpume; Stacey, Nicolas; Tugendhaft, Aviva; Hofman, Karen

    2017-08-01

    Currently, in some countries occupational health and safety policy and practice have a bias toward secondary prevention and workers' compensation rather than primary prevention. Particularly, in emerging economies, research has not adequately contributed to effective interventions and improvements in workers' health. This article, using South Africa as a case study, describes a methodology for identifying candidate fiscal policy interventions and describes the policy interventions selected for occupational health and safety. It is argued that fiscal policies are well placed to deal with complex intersectoral health problems and to focus efforts on primary prevention. A major challenge is the lack of empirical evidence to support the effectiveness of fiscal policies in improving workers' health. A second challenge is the underprioritization of occupational health and safety partly due to the relatively small burden of disease attributed to occupational exposures. Both challenges can and should be overcome by (i) conducting policy-relevant research to fill the empirical gaps and (ii) reconceptualizing, both for policy and research purposes, the role of work as a determinant of population health. Fiscal policies to prevent exposure to hazards at work have face validity and are thus appealing, not as a replacement for other efforts to improve health, but as part of a comprehensive effort toward prevention.

  2. POLITICAL AND INSTITUTIONAL DETERMINANTS OF FISCAL-POLICY IN THE EUROPEAN-COMMUNITY

    NARCIS (Netherlands)

    DEHAAN, J; STURM, JE

    1994-01-01

    In recent theoretical and empirical research the variation in political and institutional arrangements which may affect the process of national policy formation is examined, in order to explain cross-country differences with respect to fiscal policies pursued. In this paper we build upon this litera

  3. Central bank instruments, fiscal policy regimes, and the requirements for equilibrium determinacy

    NARCIS (Netherlands)

    Schabert, A.

    2006-01-01

    This paper examines the role of the monetary instrument choice for local equilibrium determinacy under sticky prices and different fiscal policy regimes. Corresponding to Benhabib et al.'s results for interest rate feedback rules [Benhabib, J., Schmitt-Grohé, S., Uribe, M., 2001. Monetary policy and

  4. Social Objectives in Polish Fiscal Policy – Spending vs Performance

    Directory of Open Access Journals (Sweden)

    Sławomir Franek

    2016-03-01

    Full Text Available Purpose: The organization of this article was subordinated to the connections between the government program documentation related to the state social objectives and their implementation at the budgetary level. The article shows the necessity of perceiving fiscal policy as an instrument toimplement government programming objectives. The aim of the article is to assess the degree of implementation of social objectives on the basis of information resulting from the experience gained in the area of performance budgeting in Poland.Methodology: To assess the scale of financing of social objectives in Poland in comparison with other European countries, the author used Eurostat data from COFOG (Classification of the Functions of Government. To assess the effectiveness of state operations related to the achievement of social objectives, the author used information from the implementation of the performance-oriented state budget. It was assumed that the performance-oriented system linking the clear structure of public expenditure with the objectives and measures assigned to them to assess the effectiveness of fiscalpolicy in particular areas of government intervention.Findings: The relations between individual strategic documents related to social objectives and performance-oriented budgetary structure are presented. The results indicate that the scale of financing of social tasks in Poland is at a lower level than the average for European countries. The author points out the functions related to the achievement of social objectives whose effectiveness could be improved.Originality: Using information from the implementation of the performance-oriented budget to compare the individual budget functions of social character on the basis of the evaluation of the degree to which the measures for these functions’ operations have been implemented.

  5. The deficit is not a well-defined measure of fiscal policy.

    Science.gov (United States)

    Kotlikoff, L J

    1988-08-12

    Notwithstanding its widespread use, the government's deficit is not a well-defined measure of fiscal policy from the perspective of neoclassical economics; the equations of neoclassical models do not define the deficit. Rather than being a fundamental economic concept, the deficit is an arbitrary cash flow accounting construct with no necessary relation to the true stance of fiscal policy. Although the deficit is supposed to indicate how the burden of paying for the government's consumption is spread across different generations, actual changes in the measured deficit in the United States have had little if any relation to changes in the burden imposed by the government on different generations. The deficit's lack of definition is illustrated with a simple model, and the potential for misreading fiscal policy is discussed with U.S. fiscal policy in the 1980s as an example. In this article, creation of present value generational accounts are called for that would properly measure the intergenerational stance of fiscal policy.

  6. Have Postwar Fiscal Stimulus Policies Met the “Timely, Targeted, and Temporary” Principle?

    Directory of Open Access Journals (Sweden)

    Jason E. Taylor

    2017-06-01

    Full Text Available President Barack Obama noted that fiscal stimulus polices should follow three T’s—timely, targeted, and temporary. This paper examines the government’s fiscal response to eleven postwar recessions in light of the three T’s. We find that the record is mixed at best. On average it took 10.9 months before a recession’s start and the first major countercyclical fiscal policy action. Additionally, in half of the eight recessions in which fiscal policy was attempted, the level of real per capita government spending was nearly three times its trend level four years after the recession was over—i.e. the stimulus was not temporary. Finally, with respect to targeted, while some countercyclical policies have been designed to help sectors that were particularly harmed during a recession, we find many cases whereby recessions provided politicians an avenue in which to implement policies that were part of their long-run reform agenda rather than being carefully targeted countercyclical fiscal policy.

  7. The Role of the Monetary Policy in the Context of the Macroeconomic Policies Mix –A Fiscal and Monetary Policy Case Study for Romania

    National Research Council Canada - National Science Library

    Georgiana-Alina Ionita

    2016-01-01

    The main object of the research is to analyze and identify an optimal monetary and fiscal policy model that responds to the economic problems of the countries from Central and East Europe and, mainly, of Romania...

  8. 28 CFR 0.85a - Criminal justice policy coordination.

    Science.gov (United States)

    2010-07-01

    ... 28 Judicial Administration 1 2010-07-01 2010-07-01 false Criminal justice policy coordination. 0.85a Section 0.85a Judicial Administration DEPARTMENT OF JUSTICE ORGANIZATION OF THE DEPARTMENT OF JUSTICE Federal Bureau of Investigation § 0.85a Criminal justice policy coordination. The Federal...

  9. 28 CFR 0.102 - Drug enforcement policy coordination.

    Science.gov (United States)

    2010-07-01

    ... 28 Judicial Administration 1 2010-07-01 2010-07-01 false Drug enforcement policy coordination. 0.102 Section 0.102 Judicial Administration DEPARTMENT OF JUSTICE ORGANIZATION OF THE DEPARTMENT OF JUSTICE Drug Enforcement Administration § 0.102 Drug enforcement policy coordination. The Administrator of...

  10. Fiscal and monetary policies in the South Pacific Island countries: an evaluation.

    Science.gov (United States)

    Jayaraman, T K

    2000-06-01

    This paper evaluates the fiscal and monetary policies of South Pacific Island Countries (SPICs) in terms of its efficacy on economic growth. To this effect, the backgrounds on the existing fiscal and monetary policies are discussed with emphasis on their inefficiencies and limitations. In addition, the findings of an empirical study conducted in the countries of Fiji, Tonga, Vanatau, and Samoa regarding the efficacy of the policies are presented. The results, which were subjected to various tests of statistical significance, indicate that both policies were ineffective in all four SPICs. However, monetary policy had a positive impact on growth in Fiji, Tonga, and Vanatau. In view of such, several policy implications are cited, including 1) that delays and inefficiencies involved in the execution of public projects should be minimized; 2) quality and components of public expenditures is of critical significance; and 3) financial sectors should be improved.

  11. 78 FR 55091 - Fair Housing Initiatives Program-Fiscal Year 2013 Application and Award Policies and Procedures...

    Science.gov (United States)

    2013-09-09

    ... URBAN DEVELOPMENT Fair Housing Initiatives Program--Fiscal Year 2013 Application and Award Policies and... administration of the funding competition for the Fair Housing Initiatives Program during Fiscal Year (FY) 2013... on the Applications and Awards Procedures and Policies (AAPP) Guide, which can be found at: http...

  12. 和谐财政政策的抉择原则及其评价框架%Decision-making Principles and Evaluation Frame of Harmonious Fiscal Policy

    Institute of Scientific and Technical Information of China (English)

    向宏桥

    2005-01-01

    Harmonious fiscal policy is the inner requirement for constructing harmonious society and is an important means of realizing such society. The harmonious fiscal policy should realize the harmony of "two hands", the harmony of values, the unity of short-term and long-term harmony, the unity of parts and the whole harmony, the unity of internal and external efficacy harmony. To scientifically evaluate harmony of fiscal policy is the prerequisite to bring harmonious fiscal policy to its full play.

  13. Evaluating the Mechanism of Oil Price Shocks and Fiscal Policy Responses in the Malaysian Economy

    Science.gov (United States)

    Bekhet, Hussain A.; Yusoff, Nora Yusma Mohamed

    2013-06-01

    The paper aims to explore the symmetric impact of oil price shock on economy, to understand its mechanism channel and how fiscal policy response towards it. The Generalized Impulse Response Function and Variance Decomposition under the VAR methodology were employed. The empirical findings suggest that symmetric oil price shock has a positive and direct impact on oil revenue and government expenditure. However, the real GDP is vulnerable in a short-term but not in the long term period. These results would confirm that fiscal policy is the main mechanism channel that mitigates the adverse effects oil price shocks to the economy.

  14. The Stabilising Role Of The Fiscal And Budgetary Policies Within The Simplified Keynesian Model

    Directory of Open Access Journals (Sweden)

    Campeanu, Emilia Mioara

    2011-06-01

    Full Text Available The purpose of the paper is to investigate the fiscal and budgetary policies using the simplified Keynesian model. It focuses on the imbalance in the fiscal and budgetary policies trying to justify the rationality of the deficits: the political strategic aspect to leave a hardto- administrate legacy, and the inter-party conflict, which may influence the budgetary decisions of the government. The purpose of the presentation is to show the stabilizing role of the public budget in relation with the full employment goal.

  15. Fiscal policy contradiction: a perspective on Brazil and Mexico

    OpenAIRE

    Elton Eustaquio Casagrande; Renato Vaz García

    2011-01-01

    El objetivo de este artículo es analizar la calidad de la política fiscal en Brasil y México, y examinar si al influencia de la política fiscal es favorable para reducir la tasa de desempleo. El gasto público, que tiene un efecto positivo en el nivel de empleo cuando resulta en demanda agregada adicional, puede causar un efecto negativo en el empleo, si su financiamiento depende de tasas de interés persistentemente elevadas. Brasil y México han realizado un gran esfuerzo para controlar el gas...

  16. Macroeconomic effects of fiscal policy in the European Union, with particular reference to transition countries

    Directory of Open Access Journals (Sweden)

    Rilind Kabashi

    2017-03-01

    Full Text Available This study empirically investigates the short- to medium-term effects of fiscal policy on output and other macroeconomic variables in European Union countries between 1995 and 2012, with particular reference to transition countries. It applies Panel Vector Auto Regression with recursive identification of government spending shocks as the most appropriate method for the aim of the study and the sample used. The main results indicate that expansionary spending shocks have a positive, but a relatively low effect on output, with the fiscal multiplier around one in the year of the shock and the following year, and lower thereinafter. There are indications that this result is driven by the recent crisis, as multipliers are considerably lower in the pre-crisis period. Effects of fiscal policy are strongly dependent on country structural characteristics. Fiscal multipliers are higher in new European Union member states, in countries with low public debt and low trade openness. Further, spending shocks are followed by rising debt levels in old member states, which could be related well to the recent European debt crisis. Finally, the analysis of the transmission mechanism of fiscal policy yields results that are consistent with both extended Real Business Cycle models and extended New Keynesian models.

  17. Nonverbal contention and contempt in U.K. parliamentary oversight hearings on fiscal and monetary policy.

    Science.gov (United States)

    Schonhardt-Bailey, Cheryl

    2017-01-01

    In parliamentary committee oversight hearings on fiscal policy, monetary policy, and financial stability, where verbal deliberation is the focus, nonverbal communication may be crucial in the acceptance or rejection of arguments proffered by policymakers. Systematic qualitative coding of these hearings in the 2010-15 U.K. Parliament finds the following: (1) facial expressions, particularly in the form of anger and contempt, are more prevalent in fiscal policy hearings, where backbench parliamentarians hold frontbench parliamentarians to account, than in monetary policy or financial stability hearings, where the witnesses being held to account are unelected policy experts; (2) comparing committees across chambers, hearings in the House of Lords committee yield more reassuring facial expressions relative to hearings in the House of Commons committee, suggesting a more relaxed and less adversarial context in the former; and (3) central bank witnesses appearing before both the Lords and Commons committees tend toward expressions of appeasement, suggesting a willingness to defer to Parliament.

  18. State Outlook: Fiscal and State Policy Issues Affecting Postsecondary Education

    Science.gov (United States)

    American Association of State Colleges and Universities, 2010

    2010-01-01

    This publication provides a compilation of the issues affecting postsecondary education in America. The contents of this issue include: (1) Overview of Economic and Fiscal Dynamics; (2) Global and Domestic Growth Prospects; (3) Snapshot of Economic Indicators--November 2010; (4) Labor Market Conditions and Post-Recession Economic Impacts; (5)…

  19. Planning to cheat: EU fiscal policy in real time

    NARCIS (Netherlands)

    Beetsma, R.; Giuliodori, M.; Wierts, P.

    2009-01-01

    Using real-time data from Europe's Stability and Convergence Programs, we explore how fiscal plans and their implementation in the EU are determined. We find that (1) implemented budgetary adjustment falls systematically short of planned adjustment and this shortfall increases with the projection

  20. State Outlook: Fiscal and State Policy Issues Affecting Postsecondary Education

    Science.gov (United States)

    American Association of State Colleges and Universities, 2010

    2010-01-01

    This publication provides a compilation of the issues affecting postsecondary education in America. The contents of this issue include: (1) Overview of Economic and Fiscal Dynamics; (2) Global and Domestic Growth Prospects; (3) Snapshot of Economic Indicators--November 2010; (4) Labor Market Conditions and Post-Recession Economic Impacts; (5)…

  1. THE TRANSITIONAL DYNAMICS OF FISCAL POLICY IN SMALL OPEN ECONOMIES

    NARCIS (Netherlands)

    Heijdra, Ben J.; Ligthart, Jenny E.

    2010-01-01

    We study the dynamic macroeconomic effects of fiscal shocks under lump-sum tax financing. To this end, we develop an intertemporal macroeconomic model for a small open economy, featuring monopolistic competition in the intermediate goods market, endogenous (intertemporal) labor supply, and finitely

  2. Fiscal policy contradiction: a perspective on Brazil and Mexico

    Directory of Open Access Journals (Sweden)

    Elton Eustaquio Casagrande

    2011-01-01

    Full Text Available El objetivo de este artículo es analizar la calidad de la política fiscal en Brasil y México, y examinar si al influencia de la política fiscal es favorable para reducir la tasa de desempleo. El gasto público, que tiene un efecto positivo en el nivel de empleo cuando resulta en demanda agregada adicional, puede causar un efecto negativo en el empleo, si su financiamiento depende de tasas de interés persistentemente elevadas. Brasil y México han realizado un gran esfuerzo para controlar el gasto público y reducir el déficit público a cero ¿Esta política ocasiona resultados positivos en la actividad económica independientemente de cómo se financia el déficit público? Hemos seleccionado variables relacionadas con el presupuesto público como los requerimientos financieros del sector público, ingresos, deuda pública y otras bases de datos. El arreglo institucional fiscal y los datos nos permiten evaluar la política fiscal en su conjunto y discutir la importancia de la credibilidad y de la reputación del gobierno.

  3. Tax and Fiscal Policies for Promotion of Industrial EnergyEfficiency: A Survey of International Experience

    Energy Technology Data Exchange (ETDEWEB)

    Price, Lynn; Galitsky, Christina; Sinton, Jonathan; Worrell,Ernst; Graus, Wina

    2005-09-15

    The Energy Foundation's China Sustainable Energy Program (CSEP) has undertaken a major project investigating fiscal and tax policy options for stimulating energy efficiency and renewable energy development in China. This report, which is part of the sectoral sub-project studies on energy efficiency in industry, surveys international experience with tax and fiscal policies directed toward increasing investments in energy efficiency in the industrial sector. The report begins with an overview of tax and fiscal policies, including descriptions and evaluations of programs that use energy or energy-related carbon dioxide (CO2) taxes, pollution levies, public benefit charges, grants or subsidies, subsidized audits, loans, tax relief for specific technologies, and tax relief as part of an energy or greenhouse gas (GHG) emission tax or agreement scheme. Following the discussion of these individual policies, the report reviews experience with integrated programs found in two countries as well as with GHG emissions trading programs. The report concludes with a discussion of the best practices related to international experience with tax and fiscal policies to encourage investment in energy efficiency in industry.

  4. Intertemporal adjustment and fiscal policy under a fixed exchange rate regime

    OpenAIRE

    Aloy, Marcel; Moreno-Dodson, Blanca; Nancy, Gilles

    2008-01-01

    The paper presents a dynamic model for small to medium open economies operating under a fixed exchange rate regime. The model provides a partial explanation of the channels through which fiscal and monetary policy affects the real exchange rate. An empirical investigation is conducted for the case of Argentina during the currency board period of 1991-2001. Empirical estimates show that fis...

  5. The influence of fiscal rules on healthcare policy in the United States and the Netherlands.

    Science.gov (United States)

    Schakel, H Christiaan; Jeurissen, Patrick; Glied, Sherry

    2016-09-28

    Governments use fiscal rules to put a framework and limits on how budgetary challenges are addressed, but the rules themselves are still an understudied area among health policy scholars. For a long time, healthcare held a somewhat separate status because of the reliance on entitlements and dedicated revenue streams. However, the combined forces of advocates for integral decision-making, central budget control and the increasing costs might shift healthcare towards budgetary frameworks that currently apply to other spending categories. In this paper, we study fiscal rules that the US and the Netherlands have adopted since 2010 and their impact on healthcare policy. Our analysis shows that fiscal rules can have an impact on the rationing of healthcare. In the studied timeframe, the rules seem to have more impact on budget outcomes than on the budget process itself. In addition, the convergence of fiscal and program policy objectives seems to be better accomplished in a budgetary system that applies enforceable budget ceilings. Budgeting for health entitlements requires a comprehensive and tailor-made approach and the composition of traditional rules might not fully answer to the complexities of healthcare policy. This paper aims to contribute to that debate and the way we think about healthcare budgeting. Copyright © 2016 John Wiley & Sons, Ltd.

  6. 78 FR 26701 - Funding and Fiscal Affairs, Loan Policies and Operations, and Funding Operations; Liquidity and...

    Science.gov (United States)

    2013-05-08

    ... strengthen liquidity risk management at Farm Credit System (System) banks, improve the quality of assets in their liquidity reserves, and bolster the ability of System banks to fund their obligations and continue...-AC54 Funding and Fiscal Affairs, Loan Policies and Operations, and Funding Operations; Liquidity...

  7. How Do Local Governments Decide on Public Policy in Fiscal Federalism?

    DEFF Research Database (Denmark)

    Köthenbürger, Marko

    2008-01-01

    Previous literature widely assumes that taxes are optimized in local public finance while expenditures adjust residually. This paper endogenizes the choice of the optimization variable. In particular, it analyzes how federal policy toward local governments influences the way local governments...... toward local governments and, thereby, enable a more precise characterization of local government behaviour in fiscal federalism....

  8. 77 FR 75362 - Funding and Fiscal Affairs, Loan Policies and Operations, and Funding Operations

    Science.gov (United States)

    2012-12-20

    ... From the Federal Register Online via the Government Publishing Office FARM CREDIT ADMINISTRATION 12 CFR Part 615 Funding and Fiscal Affairs, Loan Policies and Operations, and Funding Operations CFR Correction 0 In Title 12 of the Code of Federal Regulations, Parts 600 to 899, revised as of January 1, 2012...

  9. Unemployment and house price crises: lessons for fiscal policy from the Dutch recession

    NARCIS (Netherlands)

    Teulings, C.N.

    2014-01-01

    Since the beginning of the financial crisis in 2008, the Dutch economy lost 6% of gdp relative to Germany, even though the Netherlands (unlike the GIPSI countries) did not face serious problems to finance its sovereign debt. This bad performance is explained by the interaction of fiscal policy and t

  10. Financing Early Care and Education: Funding and Policy Choices in a Changing Fiscal Environment.

    Science.gov (United States)

    Clothier, Steffanie; Clemens, Beth; Poppe, Julie

    Because of an increasingly challenging fiscal climate, state lawmakers are faced with making tough financial decisions regarding their early childhood systems. This document describes and examines various funding sources used when making decisions about possible early childhood initiatives combined with policy choices that may be considered in…

  11. The Art and Craft of Budgeting: Fiscal Policy in the Eurozone

    NARCIS (Netherlands)

    F.K.M. van Nispen tot Pannerden (Frans)

    2007-01-01

    textabstractIn the past twenty-five years we have seen a growing body of literature on the determinants of fiscal policy as measured by analyzing cross-national data on budgetary deficits and public debts. The discussion is largely shaped by Jürgen von Hagen’s work on the impact of both political an

  12. Analysis of the Adjustment of China's Fiscal Policy in 2005

    Institute of Scientific and Technical Information of China (English)

    PeiyongGao

    2005-01-01

    The prudent fiscal policy adopted in 2005 is the result of adopting a series of measures to strengthen macro control in recent years. The process of implementation will be gradual.During this period, pushing forward reforms is the main focus of all the measures. Tax reform, social security system reform and rural reform will need the most emphasis.

  13. WHY IS THE FISCAL POLICY IMPOSED BY IMF PRO-CYCLIC?

    Directory of Open Access Journals (Sweden)

    Marinas Marius-Corneliu

    2009-05-01

    Full Text Available The economies which appealed to the IMF loan faced difficulties related to financing the public and the private foreign debt. IMF imposed the promoting of a restrictive fiscal policy to the beneficiary countries, in order to decrease the budget deficit, e

  14. EMPLOYEES STIMULATION POLICIES FROM ACCOUNTING AND FISCAL PERSPECTIVE

    Directory of Open Access Journals (Sweden)

    Cristian Drăgan

    2015-09-01

    Full Text Available More and more frequently, the negotiation of the said wage of the employees is accompanied by the possibility to get additional bonuses by the nature of food vouchers, distributed profits, rewards granted by various circumstances, advantages in nature of other similar elements. The specialty literature defines the assembly of the elements mentioned through the concept of wage packet. At the level of the entity's management we can find, on one hand, the awareness of the fact that the proposal of some attractive wage packet represents an important factor for the increase of financial performances, but, on the other hand, it can be also noticed a reservation regarding the effective implementation determined, among others, by the fiscal implications related to these.This paper aims the approach of the mentioned aspects both in terms of the accounting treatment applied and in terms of the fiscal implications related.

  15. Exploring the Contribution of Fiscal Transfers to Protected Area Policy

    Directory of Open Access Journals (Sweden)

    Maud Borie

    2014-03-01

    Full Text Available Biodiversity payments have become an increasingly proposed tool to promote conservation measures. An unexplored issue concerns the potential role of fiscal transfers between the state and infra-national authorities potentially as direct financial incentives for biodiversity conservation. We explore how protected areas can be taken into account in a redistributive fiscal transfer system between the state and local authorities, i.e., municipalities. Different simulations were made in the Mediterranean region of southern France, a major biodiversity hotspot subject to increasing threats. We examined two methods for fiscal transfer: first, a "per hectare" method, based on the surface of the protected area within the boundaries of the municipality and second a "population equivalent" method, in which we convert the surface of protected areas into relative numbers of inhabitants. Our results show that consideration of the population of the municipality in addition to its protected areas' surface can provide a strong incentive to encourage municipalities to designate protected areas. However, this will require increased public funding to buffer financial losses incurred by large municipalities that have a low proportion of their territory within protected areas. We discuss the social feasibility of this tool for green infrastructure implementation and future protected area designation.

  16. THE FISCAL-BUDGETARY POLICY MIX AND GENERAL EQUILIBRIUM IN THE CONTEXT OF THE ECONOMIC-FINANCIAL CRISIS

    OpenAIRE

    Alina Georgiana SOLOMON

    2013-01-01

    The existence of fiscal theories in economic activity was perceived differently from one historical stage to another, from one state to another or from one community to another, depending on the economic and social development of each of them. Therefore, the development of fiscal policy theories has contributed to the growth and development of the economic potential of the society in general and to meet the social needs of the population in particular. The research theme "The fiscal-budgetary...

  17. Empirical Evidence of Fiscal Policy Impact on Endogenous Models of Economic Growth - the Case of Albania

    Directory of Open Access Journals (Sweden)

    Olta Milova

    2014-02-01

    Full Text Available According to Mankiw (2000, fiscal policy in major macroeconomic models adversely affects the behavior of private agents as consumers and firms and they affect economic growth through investment and savings decisions. Increasing government spending will increase the aggregate demand for goods and services and money demand in the money market leading to an increase of interest rates while markets tend towards equilibrium. The increased interest rates affect negatively the level of private investment. To assess the effect of fiscal policy on economic growth generally are used the endogenous growth models, which include technological progress as an integrated part of this model. These models were called endogenous because they were taking into account long-term economic growth and were using endogenous mechanisms to explain its main source which is the technological progress. Endogenous growth models developed by Barro (1990, Mendosa, Milesi-Ferreti and Asea (1997 or even by other economists, predict that the fiscal policy can affect the level of product and the long run economic growth. This conclusion is analysed in the theory of Barro (1990, which extends the model by including the fiscal policy. The Barro’s model is the model used in this paper to analyse the effect of the fiscal policy on economic growth in the case of Albania. The empirical work shows that all the variables, except inflation which according to theoretical expectations should have a negative effect, affect positively the economic growth. This positive relation between these variables can be explained by investments in infrastructure and other priority sectors that the government has done during all this period.

  18. How Do Local Governments Decide on Public Policy in Fiscal Federalism?

    DEFF Research Database (Denmark)

    Köthenbürger, Marko

    2008-01-01

    Previous literature widely assumes that taxes are optimized in local public finance while expenditures adjust residually. This paper endogenizes the choice of the optimization variable. In particular, it analyzes how federal policy toward local governments influences the way local governments...... decide on public policy. Unlike the presumption, the paper shows that local governments may choose to optimize over expenditures. The result most notably prevails when federal policy subsidizes local fiscal effort. The results offer a new perspective of the efficiency implications of federal policy...

  19. Assessing the Short-Term Effects on Output of Changes in Federal Fiscal Policies (Working Paper Series)

    Science.gov (United States)

    2012-05-01

    in state budget practices , including variations in their balanced-budget requirements; Nakamura and Steinsson (2011) study regional variations in...Balancing Fiscal Policy Risk, Washington, D.C. Appendix 1. Leeper, Eric M. 2010. “Monetary Science, Fiscal Alchemy .” in Macroeconomic Challenges: The

  20. IMPLEMENTING FISCAL OR MONETARY POLICY IN TIME OF CRISIS? RUNNING GRANGER CAUSALITY TO TEST THE PHILLIPS CURVE IN SOME EURO ZONE COUNTRIES

    Directory of Open Access Journals (Sweden)

    Nico Gianluigi

    2014-12-01

    implies that preestablished targets of inflation and unemployment can be achieved by political authorities by coordinating the monetary and fiscal policy.

  1. The Implications of State Fiscal Policies for Community Colleges

    Science.gov (United States)

    Dowd, Alicia C.; Shieh, Linda Taing

    2014-01-01

    A variety of policies and practices, including those developed by local boards and administrations, as well as those mandated by state and federal governments, affect budgets and finances at community colleges. Examples include tuition policies, fee structures, performance-based funding, and personnel policies. This chapter explores some of the…

  2. Comparative Interpretation of Classical and Keynesian Fiscal Policies (Assumptions, Principles and Primary Opinions

    Directory of Open Access Journals (Sweden)

    Engin Oner

    2015-06-01

    Full Text Available Adam Smith being its founder, in the Classical School, which gives prominence to supply and adopts an approach of unbiased finance, the economy is always in a state of full employment equilibrium. In this system of thought, the main philosophy of which is budget balance, that asserts that there is flexibility between prices and wages and regards public debt as an extraordinary instrument, the interference of the state with the economic and social life is frowned upon. In line with the views of the classical thought, the classical fiscal policy is based on three basic assumptions. These are the "Consumer State Assumption", the assumption accepting that "Public Expenditures are Always Ineffectual" and the assumption concerning the "Impartiality of the Taxes and Expenditure Policies Implemented by the State". On the other hand, the Keynesian School founded by John Maynard Keynes, gives prominence to demand, adopts the approach of functional finance, and asserts that cases of underemployment equilibrium and over-employment equilibrium exist in the economy as well as the full employment equilibrium, that problems cannot be solved through the invisible hand, that prices and wages are strict, the interference of the state is essential and at this point fiscal policies have to be utilized effectively.Keynesian fiscal policy depends on three primary assumptions. These are the assumption of "Filter State", the assumption that "public expenditures are sometimes effective and sometimes ineffective or neutral" and the assumption that "the tax, debt and expenditure policies of the state can never be impartial". 

  3. The Effectiveness of Fiscal Policy in Combating Economic Crisis. An Analysis Based on the Economic Literature

    Directory of Open Access Journals (Sweden)

    Marius-Corneliu MARINAŞ

    2010-11-01

    Full Text Available The objective of this research is to identify, in the economic literature, the main factors which constrain the transmission of the fiscal shocks to the real economy. The interest in finding the most efficient fiscal stimuli in recovery the economies passing through crisis period has got increased as soon as the expansionary monetary policy promoted by most of the central banks has not generated an increase of the confidence in the private economic agents and, as a consequence, an increase of consumption and of the private investments. Even though it represents the Keynesian solution for recovery the economies which have been affected by the crisis, the fiscal expansion promoted during the recession periods does not generate the same expected positive effects any more (increase of consumption, significant decrease of unemployment, increase of revenues in economy, as they are conditioned by the reaction of the private economic agents to the fiscal stimuli. For example, the decision to decrease taxation may not automatically generate the significant increase of consumption (a condition for spreading the multiplier effect in economy, under the terms of pessimism or of the difficulty to access loans. As a result, the fiscal multipliers tend to be rather proper, and their value decreases more during the deep economic recession periods.

  4. Effects of Fiscal Policy and Monetary Policy on the Stock Market in Poland

    Directory of Open Access Journals (Sweden)

    Yu Hsing

    2013-10-01

    Full Text Available The focus of this paper is to examine potential impacts of fiscal and monetary policies on stock market performance in Poland. Applying the GARCH model and based on a sample during 1999.Q2 to 2012.Q4, this paper finds that Poland’s stock market index is not affected by the ratio of government deficits or debt to GDP and is negatively influenced by the money market rate. The stock index and the ratio of M3 to GDP show a quadratic relationship with a critical value of 46.03%, suggesting that they have a positive relationship if the M3/GDP ratio is less than 46.03% and a negative relationship if the M3/GDP ratio is greater than 46.03%. Furthermore, Poland’s stock index is positively associated with industrial production and stock market performance in Germany and the U.S. and negatively affected by the nominal effective exchange rate and the inflation rate.

  5. Incentivi fiscali e politiche di sviluppo economico regionale in Europa (Fiscal Incentives and Regional Economics Development Policies in Europe

    Directory of Open Access Journals (Sweden)

    Beniamino Moro

    2012-04-01

    Full Text Available The paper shows that fiscal policy and tax incentives are more effective than monetary policy and monetary incentives in supporting a regional development policy among European regions. Anyway, only recently the EU Commission agreed that member countries can use tax incentives instead of monetary ones to support new investment in European less developed areas, but she still does not permit that a member state can apply a differentiated fiscal policy on a regional basis. In fact, according to the Commission, a reduced tax rate for growth purposes in European less developed areas has the same effect as a working aid for those firms located in these areas, which is forbidden by the Code of conduct that regulates fiscal competition among member states. The paper shows this interpretation is not correct and also demonstrates that a regional fiscal policy differentiated among areas inside the same member state can be supported without violate the sound principles of fiscal free competition incorporated in the Code of Conduct.         JEL Codes: E62, R58Keywords: Fiscal Policy, Policy, Regional Development, Regional, Tax

  6. “Oil price shocks and fiscal policy management: Implications for Nigerian economic planning (1980-2009

    Directory of Open Access Journals (Sweden)

    Aremo, A.G.

    2013-12-01

    Full Text Available High Oil price fluctuations have been a common feature in Nigeria and these have considerably constituted a major source of fiscal policy disturbance to the Nigerian economy as well as the economies of other oil producing countries of the world. The over-reliance on oil production for income generation combined with local undiversified revenue and export bases is an issue for concern. This has policy implications for economic policy and in particular fiscal policy management. The motivation for this study is to examine the effect of oil price shock on fiscal policy in the country. Using structural vector autoregression (SVAR methodology, the effects of crude oil price fluctuations on two major key fiscal policy variables (government expenditure (GEXP and government revenue (GREV, money supply (MS2 and GDP were examined. The results showed that oil prices have significant effect on fiscal policy in Nigeria within the study period of 1980:1 to 2009:4. The study also revealed that oil price shock affects GREV and GDP first before reflecting on fiscal expenditure. The study suggests strongly that diversification of the economy is necessary in order to minimize the consequences of oil price fluctuations on government revenue, by implication government expenditure planning in the country.

  7. Measurement of efficiency of fiscal policies implemented for global crisis: Did Turkey have success in crisis management?

    Directory of Open Access Journals (Sweden)

    Coşkun Karaca

    2014-04-01

    Full Text Available Even if fiscal policy measures of countries show similarities, these measures have an important role in depth of recession and depression, reestablishment of market confidence and determination of the duration of economic recovery together with stability and elasticity of domestic financial and economic system. In the study, the effects of fiscal policies, which were implemented in Turkey during global crisis, on growth trend of the country in the period of crisis were examined. The effects of fiscal policy shocks on national income were examined through structural VAR system by using the data of the period of 2006-2012 and it was seen that the effects of net tax income and public expenditures in the model on growth was positive. On the basis of empirical findings of the study, it can be said that fiscal policies which were implemented in Turkey during last global crisis partially have growth-increasing effect.

  8. TAX EVASION UNDER THE INFLUENCE OF FISCAL POLICY MEASURES

    Directory of Open Access Journals (Sweden)

    IONUŢ-GHEORGHE CĂRĂUŞ

    2016-08-01

    Full Text Available The collection efficiency of the budget revenues depends largely on the ability of the State, through tax authorities empowered, to apply firm measures to prevent and fight against fraud and tax evasion. However, the phenomenon of fraud and tax evasion is a complex process that extends quickly beyond national borders. That is why it is necessary to the existence of international cooperation against fraud and tax evasion as much as possible, in accordance with the principle of good governess in the field of taxation, thus eliminating negative fiscal measures. Therefore it requires a strict monitoring of collection activities arranged by fiscal legislation of each EU Member State, the automatic exchange of information to be made permanent through mutual information between countries regarding incomes or financial liquidity held by individuals resident in other EU countries, by creating an effective mechanism to fight against tax evasion regarding VAT, by sending alerts between EU Member States in case of suspicious economic activities. Also, it is necessary to correlate and intensify measures to prevent and fight against tax evasion, addressing various issues in a different manner, namely in terms of the taxpayers. Thus, it is necessary to identify factors that cause taxpayers to evade from payment of tax liabilities and declarations in conjunction with tax burden or with the existing tax easing measures. Only in this context we can understand and fight against the phenomenon of tax evasion in the business environment. In this context, the research carried out has had as its principal objective to analyze the phenomenon of tax evasion in Romania as well as the capacity of the State to recover tax arrears through the application of enforcement measures. Descriptive analysis revealed a dynamic of tax evasion , the highest levels recorded in VAT .

  9. ECONOMIC POLICY CO-ORDINATION AND POLICY REGIMES IN THE EUROPEAN UNION

    Directory of Open Access Journals (Sweden)

    Stefano Micossi

    2002-10-01

    Full Text Available In this article, it is argued that coordination of economic policies in the European Union has not led to a weakening of the role of the nation states in shaping their own economic policies. Rather, what can be witnessed is the prevalence of national policy goals through the discretionary implementation of the common rules at the expense of the simpler approach of minimal harmonisation. To support this argument, the author looks at the process of policy coordination in three major areas of the EU: Single Market, Economic and Monetary Union and Social Policies.

  10. Strategic interaction between fiscal and monetary policies in an export-oriented economy

    Directory of Open Access Journals (Sweden)

    Merzlyakov Sergey

    2012-01-01

    Full Text Available Solving the problem of stabilizing the economy is directly tied to the necessity of keeping the main macroeconomic variables stable. However, macroeconomic stability is not in the general case a purely fiscal or a purely monetary problem. How the central bank and the government interact is of principle importance. We investigate the impact of macroeconomic policies on the dynamics of the exchange rate, inflation, output and stabilization fund and consider different forms of strategic interaction between the government and the central bank. In this paper we build a stylized model of an export-oriented economy. We use numerical examples for our analysis and practical conclusions. The effective interaction of fiscal and monetary policies is possible under a cooperative Stackelberg game interaction with the government as leader. It is shown that the independence of the central bank does not play a crucial role.

  11. Coordination of environmental policy for transboundary environmental problems?

    Energy Technology Data Exchange (ETDEWEB)

    Hoel, M.

    1996-01-01

    In order to reach a Pareto optimal outcome with transboundary environmental problems, there must be some kind of international agreement. One possibility would be an international agreement focusing directly on emissions in each country. Given such an agreement, an important issue is whether one should supplement the agreement with some kind of policy coordination, or if the choice of environmental policies should be left for each country to decide for itself. The present paper shows that under ``ideal`` conditions, policies need not be coordinated across countries. Such ideal conditions include, among other things, that all markets, including the labour market, are competitive. However, if one has imperfect competition in goods markets, or unemployment, it may be desirable to let an international environmental agreement not only specify emission levels, but also the policy mix between emission taxes and direct regulation. 16 refs.

  12. Downsizing of a provincial department of health--causes and implications for fiscal policy.

    Science.gov (United States)

    Blecher, Mark

    2002-06-01

    To analyse the financial basis for downsizing of a provincial health department and suggest implications for fiscal policy. Analysis of relevant departmental, provincial and national financing and expenditure trends from 1995/96 to 2002/03. Western Cape (WC) Department of Health (DOH). Downsizing involving 9,282 health workers (27.9%) and closure of 3,601 hospital beds (24.4%) over 5 years. Total aggregate provincial transfers (all provinces) remained fairly constant in real terms. The WC's share decreased from 11.8% in 1996/97 to 9.8% in 2002/03. This was offset by the DOH's share of the WC budget increasing from 25.6% to 29.6%, mainly because of an increase in national health conditional grants. The net effect of financing changes was that the DOH's allocation in real terms was similar in 2002/03 and 1995/96, which suggests that financing changes are not the major cause of downsizing. Expenditure analysis revealed a 39.7% real rise in the average cost of health personnel. Substantial interprovincial inequities remain. The major cause of downsizing was wage growth, particularly following the 1996 wage agreement. Disjointed fiscal and wage policy has affected health services. Simultaneous application of policies of fiscal constraint, redistribution and substantial real wage growth has resulted in substantial downsizing with limited inroads into inequities. Inequities will continue to call for further redistribution, reduction in conditional grants and downsizing, much of which could have been avoided if fiscal and wage policy choices had been optimal.

  13. Expansionary Effect of an Anticipated Fiscal Policy on Consumption in Japan

    OpenAIRE

    Morita, Hiroshi

    2012-01-01

    This paper investigates the effect of an anticipated fiscal policy on consumption in Japan. I identify an anticipated increment in public investment by using the excess stock returns on the construction industry and by applying the sign restriction VAR. The result shows that GDP and consumption respond to a public investment shock positively. Further, I demonstrate that the empirical facts are consistent with the New Keynesian model that has a high elasticity of labor supply and a large share...

  14. Mechanism of Fiscal and Taxation Policies in the Geothermal Industry in China

    OpenAIRE

    Yong Jiang; Yalin Lei; Li Li; Jianping Ge

    2016-01-01

    Geothermal energy is one of the cleanest sources of energy which is gaining importance as an alternative to hydrocarbons. Geothermal energy reserves in China are enormous and it has a huge potential for exploitation and utilization. However, the development of the geothermal industry in China lags far behind other renewable energy sources because of the lack of fiscal and taxation policy support. In this paper, we adopt the system dynamics method and use the causal loop diagram to explore the...

  15. Fiscal policy, the real exchange rate and commodity prices: A global framework

    OpenAIRE

    Reinhart, Carmen

    1990-01-01

    The role of the international commodity market in transmitting disturbances is considered in a model that incorporates commodities as an input in production. The analysis employs a three-country framework: a liquidity-constrained commodity supplier and two industrial countries that import the commodity, export differentiated manufactured goods and hold the outstanding debt of the commodity exporter. In this setting the impact of changes in fiscal policy, commodity supplies, and the real inter...

  16. Fiscal Flexibility is No Sin When Policies are Failing

    Institute of Scientific and Technical Information of China (English)

    Martin Wolf

    2012-01-01

    In a democracy, willingness to inflict economic pain is rarely a route to credibility. Investors will refuse to believe that the policies will survive. Once they reach that conclusion, credibility disappears.

  17. Effects of Fiscal and Monetary Policy in the Great Recession

    Directory of Open Access Journals (Sweden)

    Gonzalo Caballero

    2013-09-01

    Full Text Available World economy is living a time of change, and the complexity of change has implied a new research agenda on the role of economic policy in society. The role, types and effects of economic policy have been major issues in economic science since its origins. Jean Tinbergen (1956 [1] established the basis for the traditional theory of economic policy in economics and he tried to show how economic knowledge could be organized to regulate and guide economic systems. Nevertheless, this traditional approach has been improved through several contributions, for example when Eggertsson (1997 [2] incorporated the existence of incomplete knowledge, endogenous politics and institutional change in the theory of economic policy.

  18. Monetary and fiscal policy in the process of global integration

    OpenAIRE

    Madzova, Violeta; Sajnoski, Krste; Davcev, Ljupco

    2013-01-01

    The global environment in which monetary policy persisted brings more challenges as a result of changes that started with globalization in trade and financial fields. Concerning the trade, over the years that preceded the crisis in many advanced economies the task of monetary policy in maintaining low inflation was easier through global disinflationary pressures associated with cheaper imported products. Analyzing further, things will probably be different as structural upward trend in commod...

  19. Essays on systematic and unsystematic monetary and fiscal policies

    OpenAIRE

    Cimadomo, Jacopo

    2008-01-01

    The active use of macroeconomic policies to smooth economic fluctuations and, as aconsequence, the stance that policymakers should adopt over the business cycle, remaincontroversial issues in the economic literature.In the light of the dramatic experience of the early 1930s’ Great Depression, Keynes (1936)argued that the market mechanism could not be relied upon to spontaneously recover froma slump, and advocated counter-cyclical public spending and monetary policy to stimulatedemand. Albeit ...

  20. How Fiscal Policy Affects Non-Oil Economic Performance in Azerbaijan?

    Directory of Open Access Journals (Sweden)

    Khatai Aliyev

    2016-09-01

    Full Text Available The role of fiscal policy in promoting economic growth has been subject to many studies since its suggestion by Keynes who stated expansionary/contractionary impact of public expenditures/taxes. In this context, effectiveness of fiscal policy use to develop non-oil sector in resource rich economies should be studied. This paper investigates short- and long-run effects of budget expenditures and tax related budget revenues (direct transfers from oil fund excluded over non-oil GDP while controlling for oil price volatility and oil production in case of Azerbaijan. Autoregressive Distributed Lag Bounds Testing (ARDLBT Approach to cointegration is employed for data covering 2000Q1-2015Q2. Estimation results theoretically consistent and statistically significant long-run effects of both budget expenditures and tax-related budget revenues. However, in the short-run, the effects are contrary to the theoretical expectations. Findings are useful for Azerbaijan fiscal policy makers especially in the current complicated nature of economic processes in the economy due to oil related challenges.

  1. Evaluación del impacto de la política fiscal en Colombia (1964 -1989 Assessment of impact of fiscal policies in Colombia (1964-1989

    Directory of Open Access Journals (Sweden)

    González Jorge Iván

    1992-12-01

    Full Text Available En este articulo se examina el impacto que ha tenido la politica
    fiscal sobre la actividad económica con base en la comparación
    entre dos subperiodos: 1964-1974 y 1974-1989. A lo largo del
    primero, la tasa promedio de crecimiento del PIB fue mayor que
    durante el segundo. Entre ambos subperiodos se constata un cambio en la orientación de la politica fiscal: mientras que en el primero los gobiernos son partidarios de la intervención, en el segundo se inclinan por la significativa reducción del grado de intervención estatal. El articulo concluye que en Colombia la politica fiscal que propicia la intervención estatal ha sido relativamente exitosa.This article examines the impact that the fiscal policy had on the economic activity based on a comparison between two subperiods: 1964-1974 and 1974-1989. Throughout the first period, the average GNP growth rate was higher than during the second periodo by analyzing both subperiods, a change in the orientation of  is evident: while in the first period the governments were in favor of intervention, during the second period they tend to a significant reduction in state intervention. The author concludes that in Colombia the fiscal policy which favors state intervention has been relatively successful.



  2. 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......-ordinating fiscal and monetary policies is also considered in depth. As long as these strategic and institutional aspects remain imperfectly understood, EMU will not be able to function to its full advantage and may suffer periods of instability or weakness. Contains 11 papers and three review essays, which analyze...... of fiscal policy in EMU. The contributors are experienced analysts in the field. Topics covered include the need for and consequences of fiscal co-ordination, constraints on national deficits and debt levels (the Stability Pact), and the role of fiscal federalism and insurance. The importance of co...

  3. 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......-ordinating fiscal and monetary policies is also considered in depth. As long as these strategic and institutional aspects remain imperfectly understood, EMU will not be able to function to its full advantage and may suffer periods of instability or weakness. Contains 11 papers and three review essays, which analyze...... of fiscal policy in EMU. The contributors are experienced analysts in the field. Topics covered include the need for and consequences of fiscal co-ordination, constraints on national deficits and debt levels (the Stability Pact), and the role of fiscal federalism and insurance. The importance of co...

  4. Rules and Experiences of Fiscal Reform and Fiscal Policy in China%我国财政改革和政策实践研究

    Institute of Scientific and Technical Information of China (English)

    胡琨

    2013-01-01

      本文回顾了我国财政改革、财政政策演进历程,揭示了财政政策演进规律,探讨了财政政策宏观调控实践经验。研究发现:首先,与一般市场经济国家不同,我国财政政策从概念认识、实践启动、到运用技术日臻成熟,走出了一条缓解经济危机实现经济稳定、调节经济结构转变经济增长方式、化解民生难题促进社会和谐的独特之路。在这一过程中,财政政策更加注重供给管理。其次,在当前体制转轨背景下,我国财政政策突显出公共性和体制转型双重特征。最后,面对未来,我们需要在财政政策如何更好遵循市场经济规律;财政政策目标如何更聚焦于未来发展战略,如何推进财政改革以确保财政政策调控更具效力等方面总结更多的经验。%We reviewed the evolution process of the fiscal reform and the fiscal policy, observed the rules about them, discussed experiences about them in the paper. We found, firstly, that the evolution process was the significant differences in china with in general marketing economic country. The evolution of fiscal reform in china took the particular way that the fiscal policy relieved the economic crisis so as to stabilize the economy, adjusted the structure of economy so as to change the pattern of economic growth, and solved the livelihood issues so as to promote social harmony from knowing about the conception of the fiscal policy to starting up its practice, and to using proficiently it. The fiscal policy has emphasized supply management in the process. Secondly, the fiscal policy has displayed double features of public finance and system reform. Lastly, we should summarize more the experiences from three ways how fiscal policy make market Function play a bigger role in, and how fiscal policy to focus on future strategy, how the fiscal reform make macro-control efforts of the fiscal policy enhance.

  5. Fiscal Federalism

    DEFF Research Database (Denmark)

    Feng, Xingyuan; Ljungwall, Christer; Guo, Sujian

    2013-01-01

    in the Western literature? Second, are there any problems with existing principles of fiscal federalism and, if so, how to refine them? Third, how are refined principles relevant to the Chinese case and what policies should the Chinese government pursue in the future? Based on an in-depth and critical review...... relations is not without controversy. This paper aims to make a theoretical contribution to the ongoing debate on ‘fiscal federalism’ by addressing crucial questions regarding China's central–local fiscal relations: first, to what extent do Chinese central–local fiscal relations conform to fiscal federalism...

  6. The Fiscal Framework in the Easter Caribbean Currency Union

    DEFF Research Database (Denmark)

    Hallet, Andrew Hughes; Hougaard Jensen, Svend E.

    This paper reviews the state of economic policy management in the Euro Area. As the European sovereign debt crisis sadly demonstrates, there is an urgent need for an agreed fiscal framework in replacement of the failed Stability and Growth Pact. We suggest a framework that aims at a better co......-ordination between monetary and fiscal policy, where fiscal policy focuses on long run objectives and monetary policy on short run objectives, as an alternative. In such a framework, fiscal policies can be credibly pre-committed without undermining the authority of democratically elected representatives. We...... therefore argue that the restraints on fiscal policy should focus on structural imbalances – principally the level of public debt – and not on the size of the public sector or the composition of expenditures and revenues. We then review the reasons, theoretical as well as practical, why debt targets...

  7. [Fiscal policy and tobacco control: a unique opportunity to benefit public health and the public treasury].

    Science.gov (United States)

    Armendares, Pedro Enrique; Reynales Shigematsu, Luz Miriam

    2006-01-01

    Various studies and analyses show that an increase in tobacco prices through taxation is one of the most efficient tools in the application of integral policies in the fight against tobacco. Increases in taxes contribute to cessation, to reductions in consumption and in the number of deaths among addicts and to decrease the number of people who start to smoke. However, many governments hesitate to apply high taxes to tobacco for fear of possible negative economic results including loss of jobs and a decrease in fiscal revenue as a consequence of smuggling. Both literature and empirical experience indicate that these negative consequences do not occur or have been overestimated, often due to arguments promoted by the tobacco industry itself. Increases in tobacco taxes result in greater fiscal income, even in the presence of smuggling, which can be confronted without eroding tobacco control policies. Numerous countries, including Mexico, still have a wide margin for increasing tobacco taxes, and thereby to take advantage of an exceptional opportunity that benefits both the population's health and the public treasury. To do so, governments must stand up to the powerful tobacco industry, which is aware of the efficiency of taxes to combat tobacco use and therefore resorts to intense ad campaigns, political lobbying and negotiation of voluntary agreements for "self-regulation" in order to avoid stricter legislative or fiscal measures.

  8. Is there any rationale to the Brazilian fiscal policy?

    Directory of Open Access Journals (Sweden)

    Fabiana Rocha

    2001-09-01

    Full Text Available Barro's tax smoothing hypothesis (TSH implies that, when faced by a temporary increase in expenditure, the government should issue debt in order to spread the increase in taxes over time and minimize the welfare costs of high tax rates. Changes in the tax rate should then be unpredictable. This paper performs a test of the TSH that goes beyond the random walk tests usually done in literature. It examines the implied restrictions of the TSH on a vector autoregression (VAR model using Brazilian data for the period 1970-94. The tests reject the hypothesis for the full sample period. For the period 1987-92, however, disregarding the volatility of the actual budget surplus, the TSH seems to provide a better approximation to the historical movements of Brazilian fiscal data series.A hipótese de suavizamento de impostos de Barro implica, que quando o Governo se defronta com um aumento temporário nos seus gastos, ele deve emitir dívida a fim de espalhar o aumento de impostos ao longo do tempo e minimizar os custos de bem estar associados com os impostos mais altos. Neste artigo, faz-se um teste da hipótese de suavizamento de impostos que vai além dos tradicionais testes de passeio aleatório feitos na literatura. Examina-se as restrições sobre os gastos, as receitas e os déficits brasileiros trazidas pela hipótese de suavizamento, usando-se um modelo de vetores autoregressivos para 1970-94. Os testes rejeitam a hipótese quando o período amostral completo é considerado. Contudo, para o período 1987-92, desconsiderando-se a volatilidade dos saldos orçamentários efetivos, a hipótese de suavizamento de impostos parece fornecer uma aproximação melhor para os movimentos históricos das séries fiscais brasileiras.

  9. [Connections between fiscal federalism and the funding of the Brazilian health care policy].

    Science.gov (United States)

    de Lima, Luciana Dias

    2007-01-01

    In the Brazilian society's context of meager financial resources for health care, associated with structural features of fiscal federalism and with the current model of funding transfers for the Unified Health System's (SUS), important inequities directly impact political negotiations and the deployment of federal financing alternatives which are not directly linked to the supply and production of health care activities and services by states and municipalities. We observed that health policies, since the second half of the nineties, have developed their own mechanisms that, in the above mentioned context, tend to accommodate different interests and federative conflicts generated by structural factors and by institutional rules. However, the absence of an integrated planning program between the criteria to establish resource redistribution for financing the Unified Health System and the Brazilian Federation's fiscal sharing system, end up reinforcing certain asymmetric patterns and generating new imbalances, making the compensation of inequities difficult in public health spending at the sub-national domain.

  10. 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

  11. Fiscal policy and the business cycle: the impact of government expenditures, public debt, and sovereign risk on macroeconomic fluctuations

    NARCIS (Netherlands)

    Kirchner, M.K.

    2011-01-01

    This thesis studies the role of fiscal policy over the business cycle based on a combination of empirical macroeconometric techniques and macroeconomic theory. The focus of the analysis to be conducted is on the impact of government expenditure policies, public debt, and sovereign default risk on

  12. Is There a Need for a New Fiscal Framework in the Euro Area?

    DEFF Research Database (Denmark)

    Hallett, Andrew Hughes; Hougaard Jensen, Svend E.

    Area. To achieve co-ordination between monetary and fiscal policies, this paper suggests an intertemporal assignment, where fiscal policy focuses on long-term objectives (e.g., social security, public provision of education and research) and monetary policies focus on short run objectives...... region within which the debt target must operate. Making these factors explicit would both improve the credibility of the Euro Area’s fiscal policies and reduce the risk premia in borrowing costs. However stabilising the stock of debt by fiscal means alone is not always possible....

  13. Incentivi fiscali e politiche di sviluppo economico regionale in Europa (Fiscal Incentives and Regional Economics Development Policies in Europe

    Directory of Open Access Journals (Sweden)

    Beniamino Moro

    2001-09-01

    Full Text Available The paper shows that fiscal policy and tax incentives are more effective than monetary policy and monetary incentives in supporting a regional development policy among European regions. Anyway, only recently the EU Commission agreed that member countries can use tax incentives instead of monetary ones to support new investment in European less developed areas, but she still does not permit that a member state can apply a differentiated fiscal policy on a regional basis. In fact, according to the Commission, a reduced tax rate for growth purposes in European less developed areas has the same effect as a working aid for those firms located in these areas, which is forbidden by the Code of conduct that regulates fiscal competition among member states. The paper shows this interpretation is not correct and also demonstrates that a regional fiscal policy differentiated among areas inside the same member state can be supported without violate the sound principles of fiscal free competition incorporated in the Code of Conduct.

  14. Using Scenarios to Assess Policy Mixes for Resource Efficiency and Eco-Innovation in Different Fiscal Policy Frameworks

    Directory of Open Access Journals (Sweden)

    Laurent Bontoux

    2016-03-01

    Full Text Available There is no longer any doubt that the European Union needs to manage a transition towards a sustainable economy and society. The complexity of such an enterprise is creating major challenges that require a future oriented systemic approach, looking at the EU economy and society as a whole, and going beyond current agendas and policies. The purpose of the JRC foresight study “2035: Paths towards a sustainable EU economy” was to explore how this could be possible. Resource efficiency was at the core of the reflection. This created a context where the fiscal framework was perceived by the experts involved as essential in driving (or hindering the evolution towards a more sustainable future. Societal values (individualistic or collaborative were selected as the other axis around which to construct four scenarios. A large number of other drivers of change were taken into account to construct scenarios of a sufficient depth and detail to generate a systemic understanding. The scenarios were used in an original way to help experts identify which policy mixes would be best adapted to push each scenario towards a more sustainable future, while respecting its own logic and constraints. For each scenario, 6 policy domains considered the most relevant were selected among more than 50. Research and innovation, new business models and education were considered important for all four scenarios. The other domains were natural resources management, regulation, ethics, employment, transparency, governance, social protection, and systems integration. The study illustrates how powerful a policy framework which is fiscally supportive of environmental sustainability can be in supporting resource efficiency and that this can be achieved in very different ways depending on the prevailing social values. It also shows how a combination of actions in other policy areas can be used to drive sustainability further. In sum, this work illustrates how the creative use of

  15. Fiscal and Monetary Policy for The Development of Indonesian Plantation

    Directory of Open Access Journals (Sweden)

    Suharyadi Suharyadi

    2011-09-01

    Full Text Available The global monetary crisis in 2007-2008 and the focus of development on climate changesmake it important to promote a healthy economic growth based on the local resources, Theeconomic crisis, which has slowed down the economic growth and has caused job losseswhich result in increasing unemployment and poverty, should alter the focus of Indonesianeconomic development in the future to be based on renewable and sustainable local resources.Indonesia is an agricultural and maritime country so these two aspects should be thecore of the growth. In agricultural culture, plantation sector is the source of sustainable economicgrowth because of its geographical, demographic, and cultural potentials. The problemsin plantation sector are the low growth of areas and productivity as well as its limitedend-products. The research findings indicated that in order to increase areas, there should bea guarantee on investment, interest rate, and little retribution or good governance. To increaseproductivity, we need a guarantee on fertilizer price, interest rate, and wages, as wellas pricing factors to avoid market distortion. This is very important relating to the economicstimulus policy which is essential to revitalize from the economic doom in the future.Keywords: plantation sector, area, productivity, investment, interest rate, and wages

  16. Is There a Need for a New Fiscal Framework in the Euro Area?

    DEFF Research Database (Denmark)

    Hallett, Andrew Hughes; Hougaard Jensen, Svend E.

    The rules stipulated by the Stability and Growth Pact have proved impossible to enforce. However, to avoid unsustainable fiscal policies reappearing, and to prevent monetary policy from being undermined by self-interested governments, there is still a need for a fiscal framework within the Euro...... Area. To achieve co-ordination between monetary and fiscal policies, this paper suggests an intertemporal assignment, where fiscal policy focuses on long-term objectives (e.g., social security, public provision of education and research) and monetary policies focus on short run objectives...... region within which the debt target must operate. Making these factors explicit would both improve the credibility of the Euro Area’s fiscal policies and reduce the risk premia in borrowing costs. However stabilising the stock of debt by fiscal means alone is not always possible....

  17. Fiscal policy within a common currency area – growth implications in the light of neoclassical theory

    Directory of Open Access Journals (Sweden)

    Michał Konopczyński

    2013-10-01

    Full Text Available We examine the long-run impact of fiscal policy on economic growth under the conditions of an economic and monetary union (EMU. The analysis is based on the neoclassical growth model of a small (in economic terms open economy in an EMU. The core assumptions are perfect capital mobility, which results in identical interest rates across the EMU, and perfect mobility of goods, which leads to the convergence of price levels. The model is based on standard neoclassical assumptions, i.e., the output is determined by the Cobb-Douglas production function with a Harrod-neutral technical progress and constant returns to scale, capital and labor receive their marginal products, etc. We show that a unique long-run equilibrium exists and is characterized by the so-called natural rate of growth. The necessary and sufficient conditions of global asymptotic stability form a system of three non-trivial inequalities. We argue that in modern economies, these conditions are satisfied, except perhaps for very short periods of time. Furthermore, we show that the golden rules of fiscal policy have the form of an alternative optimal policy that crucially depends on the relation between the real interest rate and the natural rate of growth and on the relations between five other autonomous parameters.

  18. The impact of fiscal policy and inflation on national saving: the Italian case

    Directory of Open Access Journals (Sweden)

    F. MODIGLIANI

    2013-12-01

    Full Text Available Apart from income there are two other main influences on national savings: fiscal policy and inflation. The authors construct a model of the Italian economy to analyse the impact of these two related variables. It is concluded that past government deficits have produced a proportional reduction in national saving. Since the early 1960s national savings have declined by nearly 9 percentage points, of which 3.6 percentage points can be accounted for by a 4 per cent increase in the government's deficit. The results regarding the impact of inflation are not definite, and no conclusion is drawn.

  19. The impact of fiscal policy and inflation on national saving. A reply

    Directory of Open Access Journals (Sweden)

    F. MODIGLIANI

    2013-12-01

    Full Text Available The article serves as a response to Nicola Rossi’s critique of the authors’ previous work on fiscal policy and national savings in Italy. The authors reaffirm their previous finding that deficits have indeed reduced national savings and in particular make two points. First, contrary to his assertions, Rossi’s evidence is inconsistent with the Ricardian Equivalence Proposition. Second, this failure becomes even more apparent if one relies on the updated formulation and improved data underlying the more recent contribution of Modigliani and Jappelli (1987.

  20. Fiscal policy and growth: new results for the Spanish regions, 1967-1995

    Directory of Open Access Journals (Sweden)

    Óscar Bajo Rubio

    2003-01-01

    Full Text Available In this paper we present a new assessment of the effects of fiscal policy on economic growth, focusing on the role of public expenditure. Starting from a theoretical model where only those public expenditure items strictly presumed to influence the production process (i.e., public capital and transfers are incorporated into the production function, we provide an empirical application for the case of the Spanish regions during the period 1967-1995. The results confirm the positive effect on growth from both public capital and transfers, being relatively more intense that of public capital for the more productive regions, and that of transfers for the less productive ones.

  1. Monetary and Fiscal Policies' Efficiency and the Determination of a Nominal Equilibrium Exchange Rate

    OpenAIRE

    Emil Stavrev

    2000-01-01

    The author of this paper constructs a continuous time macro-econometric model of the Czech economy. The model is assembled as a system of twelve non-linear differential equations. The model is put into use to determine the nominal equilibrium exchange rate of the Czech koruna in a macro-economic framework. The paper also investigates the effectiveness of monetary and fiscal policies in the presence of a fixed exchange-rate regime and massive capital inflows. The search for an equilibrium poin...

  2. Short-run analysis of fiscal policy and the current account in a finite horizon model

    OpenAIRE

    Heng-fu Zou

    1995-01-01

    This paper utilizes a technique developed by Judd to quantify the short-run effects of fiscal policies and income shocks on the current account in a small open economy. It is found that: (1) a future increase in government spending improves the short-run current account; (2) a future tax increase worsens the short-run current account; (3) a present increase in the government spending worsens the short-run current account dollar by dollar, while a present increase in the income improves the cu...

  3. 央地财政关系:协调失灵与地方政府财政赤字扩张偏向%Central-local Fiscal Relationship:Coordination Failure and Fiscal Deficit Expansion Bias of Local Governments

    Institute of Scientific and Technical Information of China (English)

    王贺嘉

    2016-01-01

    Based on the theoretical hypothesis that coordination failure of central-local fiscal relationship leads to fiscal deficit expansion bias of local governments and the reality background,this paper constructs a coordination game theory model,and uses the regres-sion analysis of GS2SLS and System GMM of provincial spatial panel data model from 1995 to 2012 to systematically study the mechanism of the effect of central-local fiscal relation-ship on fiscal deficit expansion bias of local governments.It comes to the conclusions as follows:there is mutually imitation behavior of local governments in terms of fiscal deficit decision-making,and the central government actually coordinates fiscal deficit decision-making behavior of local governments by fiscal coordination mechanism,but it has not been a success.It means that there is really a coordination failure of Chinese central-local fiscal relationship,thereby resulting in the economic phenomenon of constant fiscal deficit expansion of local governments.%文章基于央地财政关系协调失灵导致地方财政赤字扩张偏向的理论假设和现实背景,通过构建一个协调博弈理论模型,运用我国1995-2012年省级空间面板数据模型的GS 2 SLS 和System GMM的回归分析,系统研究了“央地财政关系”对地方政府财政赤字扩张偏向的影响机制。研究发现:我国地方政府存在财政赤字决策的相互模仿行为,中央政府存在通过财政协调机制来协调地方政府的财政决策行为,但并不成功。这意味着我国“央地财政关系”确实存在协调失灵,进而导致地方政府财政赤字持续膨胀的经济现象。

  4. The impact of fiscal policy and inflation on national saving. A comment

    Directory of Open Access Journals (Sweden)

    N. ROSSI

    2013-12-01

    Full Text Available The increasing concern about the sustainability of current fiscal policies in Italy has led to a number of attempts in recent years to assess the Ricardian Equivalence Proposition. What is striking is that different authors have produced mixed, if not contradictory, evidence based largely on the same information. The present work highlights a particular work by Modigliani, Jappelli and Pagan (1985, to show that what appears to be contradictory evidence is largely the result of an incorrect treatment of dynamics. The author’s conclusions provide a warning against the danger of testing micro-hypotheses and consequently deriving policy prescriptions on the ground of an incorrect application of econometric tools to aggregate data.

  5. Beyond leadership: political strategies for coordination in health policies.

    Science.gov (United States)

    Greer, Scott L; Lillvis, Denise F

    2014-05-01

    Health in All Policies (HiAP) promises to improve population health by harnessing the energies and activities of various sectors. Nevertheless, it faces well-documented bureaucratic obstacles and appears to require intersectoral governance if it is to be established. The basic problems of establishing intersectoral governance for HiAP are known to public administration and political science. On reading that literature, we find that the difficulty of establishing intersectoral governance for HiAP breaks down into two kinds of problems: that of establishing coordinated actions at all (coordination); and ensuring that they endure in changed political circumstances (durability). We further find that policymakers' solutions fall into three categories: visible ones of political will (e.g., plans and targets); bureaucratic changes such as the introduction of Health Impact Assessment or reorganization; and indirect methods such as data publication and support from outside groups to put pressure on the government. It can seem that Health in All Policies, like much of public health, depends on effective and committed policymakers but is vulnerable to changing political winds. The three kinds of strategies suggest how policymakers can, and do, create intersectoral governance that functions and persists, expanding the range of effective policy recommendations.

  6. Fiscal Policy to Create Connectivity for National Logistic System and its Economic Impact

    Directory of Open Access Journals (Sweden)

    Rita Helbra Tenrini

    2014-01-01

    Full Text Available Indonesia’s Balance of Payments for transportation services turned to deficit for past few years. The biggest share comes from deficit on transportation services for freight. This is one reason why the cost for transportation services in Indonesia is very high and at the end it will reduce the national competitiveness. Blueprint for The development of National Logistics System already regulated in Presidential Regulation No. 26 year 2012. The implementation of National Logistics System can create national competitiveness and support the implementation of the Masterplan for Acceleration and Expansion of Indonesian’s Economic Development (abbreviated MP3EI. National Logistics system is expected to be operationalized by the logistics service providers, and supported by the availability of adequate logistics infrastructure and reliable. Service providers for all across Indonesia will be needed in order to create connectivity for National Logistic System. Transportation service providers that came from domestic, can reduce the cost of transportation, and it will create national competitiveness for domestic production. The purpose of this study is to identify the appropriate fiscal policy to domestic service providers and to identify the economic impact of the increasing on services from domestic service provider. The methodology used in this research is analysis using Social Accounting Matrix (SAM that can give an overview the impact of increasing production in one sector to factors of production, institution, and other sector. Economic impact analysis that came from SAM indicates that the increasing production in transportation services sector have an overall positive impact to factor of production, institution and other sector. The results of this research is expected to help policy makers in the field of fiscal policy in designing appropriate policies for domestic transportation service provider and at the end to help reduce the Balance of

  7. Fiscal, Monetary Policies and Institutions’ Role (Political, Social and Economic in Pakistan

    Directory of Open Access Journals (Sweden)

    Tariq HUSSAIN

    2012-06-01

    Full Text Available The purpose of this study is to test the fundamental relationship between fiscal, monetary policies and institutions in Pakistan from 1976 to 2008. These policies are roadmap in the progress of a country. No doubt both these policies are useful tools in the hands of the government to increase the per capita GDP of the country. Such policies depict the performance level of institutions of a country. Better institutions leads to higher level of growth. Institutions perform significant role in the progress of any country. The growth targets can be achieved through institutions. Higher the quality of institutions, higher the performance would be shown by economy. Countries can reach middle-income levels despite some corruption, but further growth requires much better institutions (Easterly, 2001, pp. 234-235, 245-248, Rodrik, 2003, pp. 16-17.Kwiatkowski et al (1992 test is used to test unit root and short run relationship is analyzed through ECM. Auto regressive distributed lags (ARDL shows that there is long run relationship among growth policies and institutions’ role in Pakistan.

  8. Consumer returns policies with endogenous deadline and supply chain coordination

    DEFF Research Database (Denmark)

    Xu, Lei; Li, Yongjian; Govindan, Kannan

    2015-01-01

    This paper considers returns policies under which consumers' valuation depends on the refund amount they receive and the length of time theymustwait after the item is returned. Consumers face an uncertain valuation before purchase, and the realization of that purchase's value occurs only after...... the return deadline has passed. Depending on the product lifecycle length and magnitude of return rate, a retailer decides on strategies for that product's return deadline, including return prohibition, life-cycle return, and fixed return deadline. In addition, the influence of the return deadline...... on consumers' behavior and the pricing and inventory policies of the retailer are systematically investigated. Moreover, based on the analysis of consumer return behavior on a traditional buy-back contract, we present a new differentiated buy-back contract, contingent on return deadline, to coordinate a supply...

  9. Monetary and Fiscal Policy Interaction and the Relationship between the Central Bank and the Government. (The Case of Republic of Moldova

    Directory of Open Access Journals (Sweden)

    Corina Chironachi

    2015-08-01

    Full Text Available In this paper the author is analyzing the impact of fiscal and monetary policies on the dynamics of the exchange rate, inflation and other macroeconomic variables. The author investigates the forms of strategic interaction between the Government and the Central Bank in designing and implementing these policies. As a result, the author concludes the necessity of institutions cooperation in the development and implementation of monetary and fiscal policy measures, but also concluded that the responsible institutions must remain independent in achieving an efficient monetary and fiscal policy of the Republic of Moldova.

  10. Grounding Research in Reality: Fiscal Equity and K-12 Funding in Illinois. Policy Research: IERC 2008-3

    Science.gov (United States)

    Mullin, Christopher M.; Brown, Kathleen Sullivan

    2008-01-01

    The purpose of this study was to replicate both The Education Trust's "The Funding Gap" and D. Verstegen and L. Driscoll's "The Illinois Dilemma" studies published in 2008 utilizing the actual allocations to districts resulting from the fiscal policy mechanism (funding formula) in Illinois for the 2004-2005 school year to…

  11. Fiscal policy and private investment: latin america in a comparative perspective

    Directory of Open Access Journals (Sweden)

    Emilio Caballero U.

    2012-06-01

    Full Text Available The main objective of the paper is to assess the impact of fiscal variables on private investment comparing some Latin-American economies to other advanced ones. For such purposes, the authors carry out an econometric analysis for the period 1990-2008. They make use of two dynamic panel models in which they group countries with similar characteristics and development levels. In one of them, they include Mexico, Brazil, Chile, Colombia and Uruguay; whereas in the second one the countries accounted for are the U.S., Canada, Spain, Korea, Ireland and Japan. They specify in both models an investment function using as arguments a wide range of variables, including those related with fiscal policy. From their results the authors infer that governments can, with higher spending, boost up the economy even when they finance spending with higher taxes. In Latin America, where income concentration is enormous, a proposal to boost up the economy through higher government expenditure financed with a progressive income tax, is even more justified.

  12. THE IMPACT OF FISCAL AND BUDGETARY POLICIES ON THE UNEMPLOYMENT RATE IN THE EU MEMBER STATES

    Directory of Open Access Journals (Sweden)

    ALEXANDRU DRONCA

    2015-03-01

    Full Text Available The tax system is one of the main tools by which a State exercises sovereignty through the collection, allocation and redistribution of revenues in a given territory. This paper aims to highlight how the characteristics of tax systems, in the Member States of the European Union, affect the unemployment rate. To achieve this goal, indicators for the 28 Member States of the European Union for the period 2004-2012 where used in the study. Starting with an analysis of panel data models, developed using a range of indicators specific for tax systems (budget revenues, budget expenditures, public investment, direct taxes, indirect taxes and social contributions,as exogenous variables and the unemployment rate, as an endogenous variable. The results show that the fiscal and budgetary policies of EU Member States can play a positive role in reducing unemployment, provided that their application and use will meet certain standards and performance criteria and do not harm business.

  13. 36 CFR 800.8 - Coordination With the National Environmental Policy Act.

    Science.gov (United States)

    2010-07-01

    ... National Environmental Policy Act. 800.8 Section 800.8 Parks, Forests, and Public Property ADVISORY COUNCIL... Coordination With the National Environmental Policy Act. (a) General principles—(1) Early coordination. Federal... steps taken to meet the requirements of the National Environmental Policy Act (NEPA). Agencies...

  14. The Efficiency of the Fiscal Policy in the EU and Its Role in the Economic Recovery by Attracting FDIs

    Directory of Open Access Journals (Sweden)

    Magdalena RĂDULESCU

    2011-12-01

    Full Text Available The deep global recession has focused attention on the need for countercyclical macroeconomic policies. The scope for monetary policy was hampered by the credit freeze in the financial system, which was constrained by the accumulation of toxic assets awaiting a resolution to restore confidence and efficient intermediation. While a heated debate has emerged on the specifics, the need for fiscal intervention to support demand proved to be larger and of longer duration than initially envisaged. Further, there is a need to consider lags governing the fiscal policy transmission to decide on the speed of fiscal withdrawal without jeopardizing the recovery efforts. The aimof this paper is to establish some important factors for fiscal policyeffectiveness and their role in attracting FDIs in the EU countries for sustaining economic recovery here based on literature review and the EU countries’ experience. Even if the tax regime is not the only factor that determines decisions for foreign investments, reducing tax rates in some new Member States has increased the attractiveness of these countries for foreign investors.

  15. [Fiscal policy, affordability and cross effects in the demand for tobacco products: the case of Uruguay].

    Science.gov (United States)

    Carbajales, Alejandro Ramos; Curti, Dardo

    2010-01-01

    Uruguay, a country with a solid tobacco control policy since 2005 shows, contrary to expectations, an insignificant decrease in total tobacco products' sales in the last five years. The hypothesis is that on one side, changes in household income and the income elasticity of the demand for cigarettes were important countervailing factors in the demand of both products. The period 2005-2009 shows a large increase of 36% in household real income in Uruguay due to fast economic recovery after the 2002 crisis. The second factor is the interchangeability of roll your own and cigarettes and the impact on the demand of each product as a reaction to tax and price changes. The tax and price of roll your own tobacco remains substantially lower than that of cigarettes. This fact, and the increased substitution of roll your own for cigarettes seems to be the main reasons for the low impact of the policy of tobacco tax and price increases. This paper then consists of a revision of a 2004 study to estimate separate demands for both main tobacco products and obtain estimates for own price, cross price and income elasticities. Then, a simulation study was performed using the elasticities found and two scenarios of increases in household income: moderate (2.5% per year) and high (5% per year) confirming that countries where income is growing fast and with a potential for substitution towards cheaper products require substantial cigarette tax and price increases for a fiscal tobacco control policy to become effective.

  16. 75 FR 6398 - Office of the National Coordinator for Health Information Technology; HIT Policy Committee's...

    Science.gov (United States)

    2010-02-09

    ... HUMAN SERVICES Office of the National Coordinator for Health Information Technology; HIT Policy Committee's Adoption/Certification Workgroup Meeting; Notice of Meeting AGENCY: Office of the National Coordinator for Health Information Technology, HHS. ACTION: Notice of meeting. This notice announces...

  17. The changing legal context of employment policy coordination : How do Social Policy Issues Fare after the Crisis?

    NARCIS (Netherlands)

    Bekker, S.; Klosse, Saskia

    2014-01-01

    Looking at the 2013 country-specifi c Recommendations, this article explores which legal instruments are used to coordinate employment and social policy items aft er the crisis. Th is includes instruments belonging to employment and social policy coordination, as well as to budgetary and economic go

  18. 我国“三农”财政的法律问题探讨%On Legal Issues of the Fiscal Policies of "Agriculture, Countryside and Farmers" in China

    Institute of Scientific and Technical Information of China (English)

    胡小红

    2012-01-01

    It's increasingly urgent to improve the Chinese fiscal legal system while the fiscal input of "agricul ture, countryside and farmers" is constantly enlarged in china. In the respect of fiscal system, our country should improve the legal system of fiscal expenditure responsibility of "agriculture, countryside and farmers", perfect the legal system of fiscal power seperation, enhance the legal system of fiscal transference payment, and ensure the local government's fiscal ability to support "agriculture, countryside and farmers". Meanwhile, the government should also enhance the management system of fiscal input of "agriculture, countryside and farmers". It includes establishing the legal system of macro--policy decision of fiscal input of "agriculture, countryside and farmers", which is to be designed by the top leaders and coordinated as a whole. It also includes establishing the management mechanism of fiscal input of "agriculture, countryside and farmers", whose duty is to be separated and restricted.%随着我国"三农"财政投入的不断加大,完善"三农"财政法律制度日益迫切。在财政体制方面,应当完善"三农"财政支出责任划分法律制度,健全财权划分法律制度,完善财政转移支付法律制度,保障地方政府支持"三农"的财权和财力。同时,还应当完善"三农"财政投入管理法律制度,具体包括:建立"顶层设计、统筹协调"的"三农"财政投入宏观决策法律制度,建立职能分离、分工制约的"三农"财政投入管理法律机制。

  19. Reallocation Fiscal Policy: Implications for Enhancing Human Capital and Infrastructure Development on Economic Growth and Welfare Society

    Directory of Open Access Journals (Sweden)

    Hayat Abdullah

    2014-06-01

    Full Text Available The growth of the nation's economy continues to experience a variety of developments. Various economic challenges still facing the nation. At the Asean Free Trade Area (AFTA in 2015 soon arrives, the challenge is coming from a variety of factors, both internal factors (domestic and external (foreign. Restructuring as the evaluation and development of various infrastructure and economic infrastructure. Determination of the state budget and the budget allocation to be of key importance in the economic growth of the nation. The main problem is that correlation is not balanced in fiscal management. Likewise, expenses and income is not directly proportional to the economic growth and social welfare. The purpose of this study was (1 to describe and analyze the implementation of fiscal reallocation as a preference for the government in the way of reformulating policy and fiscal reallocation for sustainable economic development; (2 to determine and analyze the effect of an increase in human capital to economic growth; and (3 describe and analyze the relationship between infrastructure development and economic growth of the welfare of society. Therefore, to improve the welfare of the people of obstruction takes a comprehensive synergy between human capital and the development of adequate infrastructure, of course, this must be supported by the existence of a fiscal restructuring and reallocation policy making substantive and accommodating. So, that the implementation of AFTA in 2015, Indonesia is ready to be a trend setting in the economic growth, community welfare, human resource development and integrative development.

  20. 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 1983 Danish fiscal reform. We use a structural VAR/event study methodology following Blanchard and Perotti (2002) that explicitly allows us to distinguish between normally marginal changes in fiscal policy and comprehensive fiscal reforms. We find that 'marginal changes' in fiscal policy (expenditure...... and tax changes) have the expected Keynesian effects on output and consumption. However, we find no evidence that the large fiscal consolidation in Denmark slowed the economy after controlling for a host of exogenous shocks and business cycle effects. Rather, we find some support for the hypothesis...

  1. L’ipotesi del ciclo vitale, la politica fiscale e la previdenza sociale (The hypothesis of the life cycle, fiscal policy and social security

    Directory of Open Access Journals (Sweden)

    Tullio Jappelli

    2012-04-01

    Full Text Available Il lavoro riassume le principali implicazioni dell’ipotesi del ciclo vitale per quanto riguarda il risparmio individuale e aggregato, la politica fiscale e la previdenza sociale, soffermandosi sui contributi più importanti di Modigliani su questi temi. Anche se non è facile conciliare alcuni risultati empirici recenti con l’ipotesi del ciclo vitale, soprattutto gli aspetti di inerzia, miopia e comportamento irrazionale documentati nella letteratura comportamentale, gli studi di Modigliani rappresentano ancora oggi la base di riferimento principale per studiare le decisioni di risparmio individuali e per operare scelte di politica economica.    The paper summarizes the main implications of the life cycle hypothesis regarding the individual and aggregate saving, fiscal policy and social security, focusing on the most important contributions of Modigliani on these issues. Although it is not easy to reconcile some recent empirical results with the hypothesis of the life cycle, especially the aspects of inertia, myopia and irrational behavior documented in the literature behavioral, the studies of Modigliani still represent the basis of reference for the study of individual savings decisions and to make policy choices.  JEL Codes: D91Keywords: ciclo vitale, risparmio, modigliani, politica economica

  2. New federalism and intergovernmental fiscal relationships: the implications for health policy.

    Science.gov (United States)

    Anton, T J

    1997-06-01

    This paper explores a number of popular but largely inaccurate myths about American federalism in order to clarify the fundamental structures and processes that characterize American federal governance. Examination of financial and political trends over the past several decades reveals the development of a form of functional specialization among national, state, and local governments based on pragmatic responses to policy problems rather than decisions based on clearly articulated "principles." These responses have increasingly come from states in a wide variety of policy areas, including health care, where the energetic reform activity of the past decade provides a sharp contrast to the inability of the national government to enact reform. Recent pressure to devolve more authority to the states is thus much more than an ideological fad; it reflects widespread agreement among political elites that state and local governments have become capable governing partners. Nonetheless, there are limits to devolution which guarantee that close fiscal and political ties between the nation and the states will remain in place. Devolution does not, because it cannot, mean separation.

  3. Fiscal Policy Impact on the State of Circulating Capital in the Corporate Sector

    Directory of Open Access Journals (Sweden)

    Paranchuk Stepan V.

    2014-02-01

    Full Text Available The goal of the article lies in identification of impact of the fiscal policy on the state of circulating capital in the corporate sector in Ukraine and in other countries. The article underlines conceptual approaches to improvement of the state tax policy with consideration of a necessity of formation of own financial resources for formation of circulating capital by subjects of the corporate sector. It justifies scientific and practical measures on reduction of the tax load on the production capital, that is, on that part of the fixed and circulating capital, which regularly and directly participates in creation of the added value. It offers a list of tax privileges for subjects of the corporate sector that direct profit into accumulation of the own capital base, including in the part of increase of the circulating capital. Realisation of the proposed recommendations should facilitate fast accumulation of financial resources for further formation of the circulating capital in the corporate sector, since this is an indispensable condition of high efficiency of corporate finance and economic activity in general.

  4. Energy Materials Coordinating Committee (EMaCC). Annual technical report, Fiscal Year 2001

    Energy Technology Data Exchange (ETDEWEB)

    None, None

    2002-08-01

    The DOE Energy Materials Coordinating Committee (EMaCC) serves primarily to enhance coordination among the Department's materials programs and to further effective use of materials expertise within the Department. These functions are accomplished through the exchange of budgetary and planning information among program managers and through technical meetings/workshops on selected topics involving both DOE and major contractors. In addition, EMaCC assists in obtaining materials-related inputs for both intra- and interagency compilations.

  5. Beyond the Community Method: Why the Open Method of Coordination Was Introduced to EU Policy-making

    Directory of Open Access Journals (Sweden)

    Armin Schäfer

    2004-09-01

    Full Text Available This paper looks at the introduction of the Open Method of Coordination (OMC to EU policy-making. This new mode of governance has been developed over the last decade and has received considerable attention in the literature. However, much of this writing fails to put the OMC into the broader context of EMU; in contrast, this paper links the Amsterdam employment title to the prior Maastricht decision to form a monetary union. It seeks to contribute to the literature on European integration in two ways: First, this paper offers three refinements to Pierson's historical institutionalist account of European integration. Second, it thus provides an alternative to functional explanations of the OMC. In brief the argument is that a conservative-liberal coalition at Maastricht created hard law in fiscal and monetary policy to constrain its successors, while the social democratic majority at Amsterdam relied on soft law to promote its goals in employment and social policy. While the former effectively limited later policy-choices, the latter largely avoids sovereignty losses for national governments. The contents of the Employment Title were determined by EMU, its form the OMC by social democratic reluctance to transfer power to the EU.

  6. Beyond the Community Method: Why the Open Method of Coordination Was Introduced to EU Policy-making

    Directory of Open Access Journals (Sweden)

    Armin Schäfer

    2004-09-01

    Full Text Available This paper looks at the introduction of the Open Method of Coordination (OMC to EU policy-making. This new mode of governance has been developed over the last decade and has received considerable attention in the literature. However, much of this writing fails to put the OMC into the broader context of EMU; in contrast, this paper links the Amsterdam employment title to the prior Maastricht decision to form a monetary union. It seeks to contribute to the literature on European integration in two ways: First, this paper offers three refinements to Pierson's historical institutionalist account of European integration. Second, it thus provides an alternative to functional explanations of the OMC. In brief the argument is that a conservative-liberal coalition at Maastricht created hard law in fiscal and monetary policy to constrain its successors, while the social democratic majority at Amsterdam relied on soft law to promote its goals in employment and social policy. While the former effectively limited later policy-choices, the latter largely avoids sovereignty losses for national governments. The contents of the Employment Title were determined by EMU, its form – the OMC – by social democratic reluctance to transfer power to the EU.

  7. Energy Materials Coordinating Committee (EMaCC) Fiscal Year 1999 annual technical report

    Energy Technology Data Exchange (ETDEWEB)

    None

    2000-10-31

    The DOE Energy Materials Coordinating Committee (EMaCC) serves primarily to enhance coordination among the Department`s materials programs and to further effective use of materials expertise within the Department. These functions are accomplished through the exchange of budgetary and planning information among program managers and through technical meetings/workshops on selected topics involving both DOE and major contractors. In addition, EMaCC assists in obtaining materials-related inputs for both intra- and interagency compilations. This report summarizes EMaCC activities for FY 1999 and describes the materials research programs of various offices and divisions within the Department.

  8. 15 CFR 930.153 - Coordination between States in developing coastal management policies.

    Science.gov (United States)

    2010-01-01

    ... Coordination between States in developing coastal management policies. Coastal States are encouraged to give... 15 Commerce and Foreign Trade 3 2010-01-01 2010-01-01 false Coordination between States in developing coastal management policies. 930.153 Section 930.153 Commerce and Foreign Trade...

  9. THE INFLUENCE OF ACCOUNTING SYSTEM AND FISCAL POLICY ON REGIONAL DEVELOPMENT

    Directory of Open Access Journals (Sweden)

    Oana Bogdan

    2014-10-01

    Full Text Available Regional development is a concept that aims at stimulating and diversifying economic activities, stimulating private sector investment and it contributes to reducing unemployment and improving living standards. To achieve these goals accounting and tax policies are necessary to allow private operators to realize taxable income, to create jobs for people and to pay taxes and contributions due to the State budget. The State must reinvest a part of the resources collected to the community in order to improve infrastructure, education and health, thus contributing to regional development. Changes in tax law and accounting adopted in Romania during 2009-2014 are regarded as tax breaks for companies created to ensure economic growth, dynamic and sustainable through efficient use of regional and local potential. In this paper we analyze the influence of the accounting and fiscal system on the regional development given that these measures do not always achieve their objectives established companies having benefit from the application of various tax measures. The paper will present the main changes of the tax and accounting systems and their impact on the regional development in Romania and the consequences resulting in implementing these measures.

  10. Energy Materials Coordinating Committee (EMaCC): Annual technical report, fiscal year 1993

    Energy Technology Data Exchange (ETDEWEB)

    1994-07-01

    The DOE Energy Materials Coordinating Committee (EMaCC) serves primarily to enhance coordination among the Department`s materials programs and to further effective use of materials expertise within the Department. These functions are accomplished through the exchange of budgetary and planning information among program managers and through technical meetings/workshops on selected topics involving both DOE and major contractors. In addition, EMaCC assists in obtaining materials-related inputs for both intra- and interagency compilations. This report summarizes EMaCC activities for FY 1993 and describes the materials research programs of various offices and divisions within the Department. The program descriptions consist of a funding summary for each Assistant Secretary office and the Office of Energy Research, and detailed project summaries with project goals and accomplishments. The FY 1993 budget summary table for DOE Materials Activities in each of the programs is presented.

  11. Energy Materials Coordinating Committee (EMaCC): Fiscal year 1996. Annual technical report

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    1997-08-01

    The DOE Energy Materials Coordinating Committee (EMaCC) serves primarily to enhance coordination among the Department`s materials programs and to further effective use of materials expertise within the Department. These functions are accomplished through the exchange of budgetary and planning information among program managers and through technical meetings/workshops on selected topics involving both DOE and major contractors. In addition, EMaCC assists in obtaining materials-related inputs for both intra- and interagency compilations. The EMaCC reports to the Director of the Office of Energy Research in his or her capacity as overseer of the technical programs of the Department. This annual technical report is mandated by the EMaCC terms of reference. This report summarizes EMaCC activities for FY 1996 and describes the materials research programs of various offices and divisions within the Department.

  12. Energy materials coordinating committee (EMaCC). Annual technical report, fiscal year 2003

    Energy Technology Data Exchange (ETDEWEB)

    none,

    2004-10-18

    The DOE Energy Materials Coordinating Committee (EMaCC) serves primarily to enhance coordination among the Department's materials programs and to further effective use of materials expertise within the Department. These functions are accomplished through the exchange of budgetary and planning information among program managers and through technical meetings/workshops on selected topics involving both DOE and major contractors. In addition, EMaCC assists in obtaining materials-related inputs for both intra- and interagency compilations. Topical subcommittees of the EMaCC are responsible for conducting seminars and otherwise facilitating information flow between DOE organizational units in materials areas of particular importance to the Department. The EMaCC Terms of Reference were recently modified and developed into a Charter that was approved on June 5, 2003. As a result of this reorganization, the existing subcommittees were disbanded and new subcommittees are being formed.

  13. Energy Materials Coordinating Committee (EMaCC), Fiscal year 1992. Annual technical report

    Energy Technology Data Exchange (ETDEWEB)

    1993-05-01

    The DOE EMaCC serves to coordinate the department`s materials programs and to further effective use of materials expertise within the department. This document presents summaries of budgets and of research projects, arranged according to the offices of energy efficiency and renewable energy, energy research, environmental restoration and waste management, nuclear energy, civilian radioactive waste management, defense, and fossil energy. A directory and a keyword index are included.

  14. Keynesian, Non-Keynesian or no effects of fiscal policy changes? The EMU Case

    NARCIS (Netherlands)

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

    2003-01-01

    This paper studies the experiences with fiscal adjustments in the European Union (EU) countries during the transition period to the Economic and Monetary Union (EMU). Using several approaches suggested in the literature on fiscal adjustments and their macroeconomic effects and in the literature on E

  15. Keynesian, Non-Keynesian or No Effects of Fiscal Policy Changes?: The EMU Case

    NARCIS (Netherlands)

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

    2001-01-01

    This paper studies the experiences with fiscal adjustments in the European Union (EU) countries during the transition period to the Economic and Monetary Union (EMU). Using several approaches suggested in the literature on fiscal adjustments and their macroeconomic effects and in the literature on E

  16. Keynesian, Non-Keynesian or No Effects of Fiscal Policy Changes?: The EMU Case

    NARCIS (Netherlands)

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

    2001-01-01

    This paper studies the experiences with fiscal adjustments in the European Union (EU) countries during the transition period to the Economic and Monetary Union (EMU). Using several approaches suggested in the literature on fiscal adjustments and their macroeconomic effects and in the literature on

  17. Policy Note on the Unfinished Fiscal Reform Agenda in Indian States

    OpenAIRE

    World Bank

    2008-01-01

    Both central and state governments have carried out significant correction of financial imbalances since 2000, through the implementation of fiscal reforms including enactment of fiscal responsibility (FR) acts. However, the improvement in the finances of all states in aggregate hides wide disparities between them. Some state governments are already on a sustainable path while some others ...

  18. MACROTHEORETICAL FOUNDATIONS OF FISCAL CONSOLIDATION

    Directory of Open Access Journals (Sweden)

    I. Liutyi

    2016-06-01

    Full Text Available The article analyses the unexplored category of "fiscal consolidation". The study shows a different interpretation of the content of fiscal consolidation. It was emphasized that in today's fiscal policy in the EU aims mainly at implementing fiscal consolidation programs that provide sustainable public finances by implementing measures to limit the fiscal imbalances (especially deficit of governance and public debt. The paper analyses the fiscal consolidation program aimed at stabilizing of public finances and improve their sustainability. The research proved that fiscal rules and norms contribute to the process of fiscal consolidation.

  19. The global financial crisis and fiscal policy in Central and Eastern Europe: the 2009 Croatian budget odysey

    Directory of Open Access Journals (Sweden)

    Dubravko Mihaljek

    2009-09-01

    Full Text Available This paper addresses two main questions: first, what is the scope for domestic and external market-based financing of Croatia’s government budget deficit; and second, what is the scope for expansionary fiscal policy in Croatia. Both questions are addressed from a broader Central and Eastern European perspective, in the context of the economic and financial crisis unfolding in the region since October 2008. The paper analyses how the crisis had spread through financial markets in the region and how it affected the cost and availability of budget financing. It shows that the reliance on market-based financing increased significantly in successive revisions of the 2009 budget despite rising bond yields and interest rates; that government borrowing from domestic banks led to a severe crowding-out of the private sector; and that the sovereign eurobond placement in 2009 was costlier than earlier placements in similar circumstances and other sovereign debt issues in CEE in the first half of 2009. On this basis, the paper argues that expansionary fiscal policy in Croatia would not be effective and would undermine fiscal sustainability and financial stability.

  20. Energy Materials Coordinating Committee (EMaCC). Annual Technical Report, Fiscal Year 2000

    Energy Technology Data Exchange (ETDEWEB)

    none,

    2001-07-31

    The Energy Materials Coordinating Committee Annual Report (attached, DOE/SC-0040) provides an annual summary of non-classified materials-related research programs supported by various elements within the Department of Energy. The EMaCC Annual Report is a useful working tool for project managers who want to know what is happening in other divisions, and it provides a guide for persons in industry and academia to the materials program within the Department. The major task of EMaCC this year was to make the Annual Report a more user-friendly document by removing redundant program information and shortening the project summaries.

  1. Energy Materials Coordinating Committee (EMaCC), fiscal year 1985. Annual technical report

    Energy Technology Data Exchange (ETDEWEB)

    None

    1986-05-01

    The DOE Energy Materials Coordinating Committee (EMaCC) serves primarily to enhance coordination among the Department's materials programs and to further the effective use of materials expertise within the Department. These functions are accomplished through the exchange of budgetary and planning information among program managers and through technical meeting/workshops on selected topics involving both DOE and major contractors. Four topical subcommittees on Structural Ceramics, Batteries and Fuel Cells, Radioactive Waste Containment, and Steel are established and are continuing their own program. The FY 1985 and FY 1986 meeting program is given. The EMaCC aids in obtaining materials-related inputs for both intra- and inter-agency compilations. Brief summaries of the materials research programs associated with each office and division are presented, including tables listing individual projects and the FY 1985 budgets for each. More details on the individual projects within the divisions and the specific tasks or subcontracts within the various projects are given in the paragraph descriptions.

  2. Energy Materials Coordinating Committee (EMaCC): Annual technical report, fiscal year 1988

    Energy Technology Data Exchange (ETDEWEB)

    None

    1989-06-30

    The DOE Energy Materials Coordinating Committee (EMaCC) serves primarily to enhance coordination among the Department's materials programs and to further the effective use of materials expertise within the Department. These functions are accomplished through the exchange of budgetary and planning information among program managers and through technical meetings/workshops on selected topics involving both DOE and major contractors. Four topical subcommittees are established and are continuing their own programs: Structural Ceramics, Batteries and Fuel Cells, Radioactive Waste Containment, and Superconductivity (established in FY 1987). In addition, the EMaCC aids in obtaining materials-related inputs for both intra- and interagency compilations. Membership in the EMaCC is open to any Department organizational unit; participants are appointed by Division or Office Directors. The current active membership is listed on the following four pages. The EMaCC reports to the Director of the Office of Energy Research in his capacity as overseer of the technical programs of the Department. This annual technical report is mandated by the EMaCC terms of reference. This report summarizes EMaCC activities for FY 1988 and describes the materials research programs of various offices and divisions within the Department.

  3. Energy materials coordinating committee (EMACC) Fiscal Year 1982. Annual technical report

    Energy Technology Data Exchange (ETDEWEB)

    None, None

    1983-03-01

    The DOE Energy Materials Coordinating Committee (EMaCC) serves primarily to enhance coordination among the Department's materials programs and to further the effective use of materials expertise within the Department. These functions are accomplished through the exchange of budgetary and planning information among program managers and through technical meetings/ workshops on selected topics involving both DOE and major contractors. In addition, the EMaCC aids in obtaining materials - related inputs for both intra- and interagency compilations. Membership in the EMaCC is open to any Department organizational unit; participants are appointed by Division or Office Directors. The current membership is listed in Table 1. The EMACC reports to the Director of the Office of Energy Research in his capacity as overseer of the technical programs of the Department. This annual technical report is mandated by the EMACC terms of reference. In this report are described 1) EMACC activities for FY 1982; 2) a summary of materials funding in the Department from FY 1978 to the present; and 3) on-going materials programs in the Department.

  4. Energy Materials Coordinating Committee (EMACC). Annual Technical Report, Fiscal Year 1978

    Energy Technology Data Exchange (ETDEWEB)

    none,

    1978-08-01

    The Department of Energy Materials Coordinating Committee (EMACC) completed its first year of activity in FY 1978. A major project during the year was to conduct a survey of topical areas and prepare the report, Survey and Analysis of Selected Topics within the Department of Energy's Materials Research and Development Programs. Seven topics selected were those that had a high level of Divisional interest and supplement those reported in FY 1977 in DOE/ET-0006. The topics and the EMACC panel leaders in charge of compiling information were: 1. Joining of Materials, E.E. Hoffman and E. Dalder; 2. Elastomers R. Nelson; 3. Catalysts and Catalytic Effects R. Epple; 4. Radiation Effects K. Zwilsky; 5. Superconductivity W. Clinton; 6. Cement and Concrete L. Kukacka BNL/R. Reeber; and 7. Alternate Materials R.R. Reeber The report summarizes over 250 projects in these areas and completes the initial review started by James Swisher FY 1977 EMACC Chairman.

  5. Energy materials coordinating committee (EMACC) Fiscal Year 1980. Annual technical report

    Energy Technology Data Exchange (ETDEWEB)

    None

    1980-01-01

    This report contains information on the FY 1980 Department of Energy materials research and development programs and on those programs/projects with a significant materials activity. It was compiled by the Energy Materials Coordinating Committee (EMaCC). The previous report in this series summarized the FY 1979 programs (DOE/US-0002-2). The report is separated into sections, each containing programs reporting to one of six Assistant Secretaries of the Department: Conservation and Solar Energy, Defense Programs, Environment, Fossil Energy, Nuclear Energy, and Resource Applications; and one section, Energy Research, responsible to the Director of the Office of Energy Research. For convenience in locating the generic types of materials activities, an Appendix has been added that contains a primary keyword index.

  6. Energy materials coordinating committee (EMaCC). Annual technical report, fiscal year 2004

    Energy Technology Data Exchange (ETDEWEB)

    none,

    2005-08-31

    The DOE Energy Materials Coordinating Committee (EMaCC) serves primarily to enhance coordination among the Department's materials programs and to further effective use of materials expertise within the Department. These functions are accomplished through the exchange of budgetary and planning information among program managers and through technical meetings/workshops on selected topics involving both DOE and major contractors. In addition, EMaCC assists in obtaining materials-related inputs for both intra- and interagency compilations. Topical subcommittees of the EMaCC are responsible for conducting seminars and otherwise facilitating information flow between DOE organizational units in materials areas of particular importance to the Department. The EMaCC Terms of Reference were recently modified and developed into a Charter that was approved on June 5, 2003. As a result of this reorganization, the existing subcommittees were disbanded and new subcommittees are being formed. The FY 2004 budget summary for DOE Materials Activities is presented on page 8. The distribution of these funds between DOE laboratories, private industry, academia and other organizations is presented in tabular form on page 10. Following the budget summary is a set of detailed program descriptions for the FY 2004 DOE Materials activities. These descriptions are presented according to the organizational structure of the Department. A mission statement, a budget summary listing the project titles and FY 2004 funding, and detailed project summaries are presented for each Assistant Secretary office, the Office of Science, and the National Nuclear Security Administration. The project summaries also provide DOE, laboratory, academic and industrial contacts for each project, as appropriate.

  7. Energy materials coordinating committee (EMaCC). Annual technical report, fiscal year 2005

    Energy Technology Data Exchange (ETDEWEB)

    None, None

    2006-09-29

    The DOE Energy Materials Coordinating Committee (EMaCC) serves primarily to enhance coordination among the Department's materials programs and to further effective use of materials expertise within the Department. These functions are accomplished through the exchange of budgetary and planning information among program managers and through technical meetings/workshops on selected topics involving both DOE and major contractors. In addition, EMaCC assists in obtaining materials-related inputs for both intra- and interagency compilations. Topical subcommittees of the EMaCC are responsible for conducting seminars and otherwise facilitating information flow between DOE organizational units in materials areas of particular importance to the Department. The EMaCC Terms of Reference were recently modified and developed into a Charter that was approved on June 5, 2003. As a result of this reorganization, the existing subcommittees were disbanded and new subcommittees are being formed. The FY 2004 budget summary for DOE Materials Activities is presented on page 8. The distribution of these funds between DOE laboratories, private industry, academia and other organizations is presented in tabular form on page 10. Following the budget summary is a set of detailed program descriptions for the FY 2004 DOE Materials activities. These descriptions are presented according to the organizational structure of the Department. A mission statement, a budget summary listing the project titles and FY 2004 funding, and detailed project summaries are presented for each Assistant Secretary office, the Office of Science, and the National Nuclear Security Administration. The project summaries also provide DOE, laboratory, academic and industrial contacts for each project, as appropriate.

  8. Energy materials coordinating committee (EMaCC). Annual technical report, fiscal year 2002

    Energy Technology Data Exchange (ETDEWEB)

    none,

    2003-08-08

    The DOE Energy Materials Coordinating Committee (EMaCC) serves primarily to enhance coordination among the Department's materials programs and to further effective use of materials expertise within the Department. These functions are accomplished through the exchange of budgetary and planning information among program managers and through technical meetings/workshops on selected topics involving both DOE and major contractors. In addition, EMaCC assists in obtaining materials-related inputs for both intra- and interagency compilations. Topical subcommittees of the EMaCC are responsible for conducting seminars and otherwise facilitating information flow between DOE organizational units in materials areas of particular importance to the Department. The EMaCC Terms of Reference were recently modified and developed into a Charter that was approved on June 5, 2003. As a result of this reorganization, the existing subcommittees were disbanded and new subcommittees are being formed. The EMaCC Charter and the memorandum approving it are presented in the Appendix of this report. The FY 2002 budget summary for DOE Materials Activities is presented on page 8. The distribution of these funds between DOE laboratories, private industry, academia and other organizations is presented in tabular form on page 10. Following the budget summary is a set of detailed program descriptions for the FY 2002 DOE Materials activities. These descriptions are presented according to the organizational structure of the Department. A mission statement, a budget summary listing the project titles and FY 2002 funding, and detailed project summaries are presented for each Assistant Secretary office, the Office of Science, and the National Nuclear Security Administration. The project summaries also provide DOE, laboratory, academic and industrial contacts for each project, as appropriate.

  9. Public Service Quality and Building Coordinated Policy: An Analytical Study of Jamkesmas And Jamkesda Implementation

    OpenAIRE

    Hevi Kurnia Hardini

    2013-01-01

    This study will examine the implementation of Jamkesmas (Jaminan Kesehatan Masyarakat-Health Insurance Scheme for People) and Jamkedsa (Jaminan Kesehatan Masyarakat Daerah-Health Insurance Scheme for Local People). Both are inno-vative policies in term of health financing, since they reflect more the spirit of insurance compared to the previous policies which were merely about financial aid. However, these policies do not reflect the ideals of policy coordination. Several theoreti...

  10. 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 Fiscal...

  11. Coordination of EU Policy Positions in Germany and Denmark

    DEFF Research Database (Denmark)

    Jensen, Mads Christian Dagnis; Jopp, Mathias; Nedergaard, Peter

    2016-01-01

    -plied to examine EU coordination in Eastern and Central Europe. The results demonstrate that the approach travels well to EU member states in Western Europe. More precisely, they show that the power of the individual ministers, as well as the type of government (minority vs. majority), are im-portant factors...... in explaining differences in the way the two member states handle EU coordination. This strengthens the argument that the traits of the EU coordination mechanisms in EU member states are a function of power relations between domestic actors....

  12. 75 FR 151 - Office of the National Coordinator for Health Information Technology; HIT Policy Committee...

    Science.gov (United States)

    2010-01-04

    ... the development and adoption of a nationwide health information technology infrastructure that permits... HUMAN SERVICES Office of the National Coordinator for Health Information Technology; HIT Policy... Information Technology, HHS. ACTION: Notice of meeting. This notice announces a forthcoming meeting of...

  13. 75 FR 16126 - Office of the National Coordinator for Health Information Technology; HIT Policy Committee...

    Science.gov (United States)

    2010-03-31

    ... the development and adoption of a nationwide health information technology infrastructure that permits... HUMAN SERVICES Office of the National Coordinator for Health Information Technology; HIT Policy... Information Technology, HHS. ACTION: Notice of meeting. This notice announces a forthcoming meeting of...

  14. 75 FR 5595 - Office of the National Coordinator for Health Information Technology; HIT Policy Committee...

    Science.gov (United States)

    2010-02-03

    ... the development and adoption of a nationwide health information technology infrastructure that permits... HUMAN SERVICES Office of the National Coordinator for Health Information Technology; HIT Policy... Information Technology, HHS. ACTION: Notice of meeting. This notice announces a forthcoming meeting of...

  15. 75 FR 70924 - Office of the National Coordinator for Health Information Technology; HIT Policy Committee's...

    Science.gov (United States)

    2010-11-19

    ... Policy Committee's Workgroups: Meaningful Use, Privacy & Security Tiger Team, Enrollment, Governance..., privacy and security, enrollment, governance, or adoption/ certification. If background materials are... HUMAN SERVICES Office of the National Coordinator for Health Information Technology; HIT...

  16. 75 FR 65485 - Office of the National Coordinator for Health Information Technology; HIT Policy Committee's...

    Science.gov (United States)

    2010-10-25

    ... Policy Committee's Workgroups: Meaningful Use, Privacy & Security Tiger Team, Enrollment, Governance... exchange, privacy and security, enrollment, governance, or adoption/ certification. If background materials... HUMAN SERVICES Office of the National Coordinator for Health Information Technology; HIT...

  17. 76 FR 9782 - Office of the National Coordinator for Health Information Technology; HIT Policy Committee's...

    Science.gov (United States)

    2011-02-22

    ...., meaningful use, information exchange, privacy and security, enrollment, governance, or adoption... Policy Committee's Workgroups: Meaningful Use, Privacy & Security Tiger Team, Enrollment, Governance... HUMAN SERVICES Office of the National Coordinator for Health Information Technology; HIT...

  18. Coordination between Governance Actors in Universities: The Role of Policy Documents

    Science.gov (United States)

    Macheridis, Nikos

    2015-01-01

    This article focuses on coordination between governance actors in a public university. The purpose of this paper is to illustrate and analyze policy documents as governance tools that allow departmental management to coordinate with the authorities, the board, and the management at different university levels. A central finding is that the…

  19. Coordination between Governance Actors in Universities: The Role of Policy Documents

    Science.gov (United States)

    Macheridis, Nikos

    2015-01-01

    This article focuses on coordination between governance actors in a public university. The purpose of this paper is to illustrate and analyze policy documents as governance tools that allow departmental management to coordinate with the authorities, the board, and the management at different university levels. A central finding is that the…

  20. The Fiscal Framework in a Currency Union

    DEFF Research Database (Denmark)

    Hallett, Andrew Hughes; Hougaard Jensen, Svend E.

    2016-01-01

    fiscal discipline, with the aim of avoiding the risk of unsustainable fiscal policies reappearing and of preventing monetary policy from being undermined by undisciplined national governments. In the ECCU case, we find that fiscal deficits are more a result of financial and trade imbalances than fiscal...

  1. Economic evaluation on tight sandstone gas development projects in China and recommendation on fiscal and taxation support policies

    Directory of Open Access Journals (Sweden)

    Zhen Yang

    2016-11-01

    Full Text Available China is rich in tight sandstone gas resources (“tight gas” for short. For example, the Sulige Gasfield in the Ordos Basin and the Upper Triassic Xujiahe Fm gas reservoir in the Sichuan Basin are typical tight gas reservoirs. In the past decade, tight gas reserve and production both have increased rapidly in China, but tight gas reservoirs are always managed as conventional gas reservoirs without effective fiscal, taxation and policy supports. The potential of sustainable tight gas production increase is obviously restricted. The tight gas development projects represented by the Sulige Gasfield have failed to make profit for a long period, and especially tight gas production has presented a slight decline since 2015. In this paper, a new economic evaluation method was proposed for tight gas development projects. The new method was designed to verify the key parameters (e.g. production decline rate and single-well economic service life depending on tight gas development and production characteristics, and perform the depreciation by using the production method. Furthermore, the possibility that the operation cost may rise due to pressure-boosting production and intermittent opening of gas wells is considered. The method was used for the tight gas development project of Sulige Gasfield, showing that its profit level is much lower than the enterprise's cost level of capital. In order to support a sustainable development of tight gas industry in China, it is recommended that relevant authorities issue value-added tax (VAT refund policy as soon as possible. It is necessary to restore the non-resident gas gate price of the provinces where tight gas is produced to the fair and reasonable level in addition to the fiscal subsidy of CNY0.24/m3, or offer the fiscal subsidy of CNY0.32/m3 directly based on the on-going gate price. With these support policies, tax income is expected to rise directly, fiscal expenditure will not increase, and gas

  2. IMPACT OF THE FISCAL POLICIES ON THE STANDARD OF LIVING OF THE EMPLOYEES

    Directory of Open Access Journals (Sweden)

    PhD Elena PĂDUREAN

    2013-03-01

    Full Text Available The paper is a translation of the article published in issue no. 35 (2007 of Financial Studies. The concept of “quality of life” includes its most important component, the “standard of living”. Ensuring a decent standard of living depends on the level of society development quantified in the GDP and in the manner of its allocation. The impact of fiscality on the standard of living can be best perceived on the occupied population, which is taxed, the employees representing the most relevant category. This is supported by the figures on the proportion of employees within the total occupied population (over 50% in 2003 amounting to 56.04%. The analysis of the income from wages in 1990 – 2005 yielded the following conclusions: - In 1992-1994, the real gross average income decreased, while in 1994- 1996 it increased. This had no influence on the proportion of wages tax collection, which increased continuously, which increased the fiscal pressure on the work; - In 1996-2000, the real gross average income decreased dramatically due to the peak inflation of that period, which eroded all earnings; - In 2000-2004, the increase resumed, both of the real gross average income, and of the fiscal pressure on it; - The lowest fiscal pressure felt by the employees was in 1998 and 1999. This evolution shows that a fiscal relaxation was attempted in 1998 and 1999, but it was not supported by the available resources, which caused a boom of the fiscal pressure during the subsequent period.

  3. Bank rescues and fiscal policy in the European Union during the great recession

    Directory of Open Access Journals (Sweden)

    Ferreiro Jesús

    2016-01-01

    Full Text Available The outbreak of the economic and financial crisis in 2008, the socalled Great Recession, has made that many European Union countries have made massive interventions in their banking and financial systems. These interventions have had a considerable impact in the public finances of these countries. The aim of the paper is to analyze the impact on the national public budgets of the measures of public support to problem financial institutions carried out between the years 2008 and 2013, and to study how this budgetary impact has affected to the fiscal imbalances and to the strategies of fiscal impulse and consolidation implemented along these years.

  4. Coordination of EU Policy Positions in Germany and Denmark

    DEFF Research Database (Denmark)

    Jensen, Mads Christian Dagnis; Jopp, Mathias; Nedergaard, Peter

    2016-01-01

    This article examines the coordination mechanisms, in Germany and Denmark, which develop negotiation positions for the Council in the European Union (EU). The analysis studies these mechanisms through the lens of the ‘politics of institutional choice’ approach, which previous scholars have applie...

  5. NIH Fiscal Policy for Grant Awards in FY 2013 Released | Division of Cancer Prevention

    Science.gov (United States)

    This Notice provides guidance about the NIH Fiscal Operations for the remainder of FY 2013 in light of the Consolidated and Further Continuing Appropriations Act, 2013 (P.L. 113-6), signed by President Obama on March 26, 2013, and the sequestration provisions of the Balanced Budget and Emergency Deficit Control Act, as amended, 2 U.S.C. |

  6. 76 FR 40591 - Coordinating Policies on Automotive Communities and Workers

    Science.gov (United States)

    2011-07-11

    ... Policies on Automotive Communities and Workers By the authority vested in me as President by the.... Over the last decade, the United States has experienced a decline in employment in the automotive industry and among part suppliers. This decline accelerated dramatically from 2008 to 2009, with more...

  7. Assessing the open method of coordination: institutional design and national influence of EU social policy coordination

    NARCIS (Netherlands)

    Barcevičius, E.; Weishaupt, J.T.; Zeitlin, J.

    2014-01-01

    Based on the findings of a large-scale, comparative research project, this book systematically assesses the institutional design and national influence of the Open Method of Coordination (OMC) on Social Inclusion and Social Protection, at the European Union (EU) level and in ten EU Member States.

  8. Supply coordination based on bonus policy in assembly under uncertain delivery time

    Science.gov (United States)

    Li, Guo; Liu, Mengqi; Wang, Zhaohua; Peng, Bingzong

    2013-03-01

    The existing research of supply coordination under uncertain delivery time mainly focuses on the collaboration between the supplier and the manufacturer, which aim at minimizing the total cost of each side and finding comparative optimal solutions under decentralized decision. In the supply coordination, the collaboration between suppliers in assembly system is usually not considered. As a result, the manufacturer's production is often delayed due to mismatching delivery of components between suppliers. Therefore, to ensure supply coordination in assembly system, collaboration between suppliers should be taken into consideration. In this paper, an assembly system with two suppliers and one manufacturer under uncertain delivery time is considered. The model is established and optimal solution is given under decentralized decision. Furthermore, the cost functions of two suppliers are both convex, and a unique Nash equilibrium exists between two suppliers. Then the optimal decision under supply coordination is analyzed, which is regarded as a benchmark for supply coordination. Additionally, the total cost of the assembly system is jointly convex in agreed delivery time. To achieve supply coordination a bonus policy is explored in the assembly system under uncertain delivery time, and the total cost under bonus policy must be lower than under decentralized decision. Finally the numerical and sensitivity analysis shows the cost of assembly system under bonus policy equals that under supply coordination, and the cost of each side in assembly system under bonus policy is lower compared to that under decentralized decision. The proposed research minimizes the total cost of each side with bonus policy in assembly system, ensures the supply coordination between suppliers and the manufacturer, and improves the competiveness of the whole supply chain.

  9. Public Service Quality and Building Coordinated Policy: An Analytical Study of Jamkesmas And Jamkesda Implementation

    Directory of Open Access Journals (Sweden)

    Hevi Kurnia Hardini

    2013-08-01

    Full Text Available This study will examine the implementation of Jamkesmas (Jaminan Kesehatan Masyarakat-Health Insurance Scheme for People and Jamkedsa (Jaminan Kesehatan Masyarakat Daerah-Health Insurance Scheme for Local People. Both are inno-vative policies in term of health financing, since they reflect more the spirit of insurance compared to the previous policies which were merely about financial aid. However, these policies do not reflect the ideals of policy coordination. Several theoretical reviews about social health insurance are applied to figure out the spirit of Indonesian health insurance socio-logically and culturally. The Colebatch’s framework of vertical and horizontal dimensions of policy is used as the main tool of analysis for measuring whether both Jamkesmas and Jamkesda are categorized as coordinated policies or not. Qualitative research approach is used as the method in order to gain in-depth information about the current polemic of Jamkesmas and Jamkesda implementations. Qualitative analysis method is applied during the process of analysis. The secondary data will be collected, sorted, coded and analyzed. Those several steps aim to cross check the validity of each data for answering the research questions. The result of this study shows that Jamkesmas and Jamkedsa lack of coordination during the process of policy making which has led to complicated problems at the implementation stage namely: the lawsuit/multiple interpretations of the law, unstructured policy stages at the vertical level, complicated problems at horizontal stages and conflict among institutional governments. Moreover, the nature of policy coordination in Indonesia is still reactive. This fact causes policy inconsistency which has the effect of law uncertainty and poor quality of public services.

  10. GRACEnet: addressing policy needs through coordinated cross-location research

    Science.gov (United States)

    Jawson, Michael D.; Walthall, Charles W.; Shafer, Steven R.; Liebig, Mark; Franzluebbers, Alan J.; Follett, Ronald F.

    2012-01-01

    GRACEnet (Greenhouse gas Reduction through Agricultural Carbon Enhancement network) was conceived to build upon ongoing USDA Agricultural Research Service (ARS) research to improve soil productivity, while addressing the challenges and opportunities of interest in C sequestration from a climate change perspective. The vision for GRACEnet was and remains: Knowledge and information used to implement scientifically based agricultural management practices from the field to national policy scales on C sequestration, greenhouse gas (GHG) emissions, and environmental benefits. The national focus of GRACEnet uses a standardized approach by ARS laboratories and university and land manager (e.g. farmer and rancher) cooperators to assess C sequestration and GHG emission from different crop and grassland systems. Since 2002, GRACEnet has significantly expanded GHG mitigation science and delivered usable information to agricultural research and policy organizations. Recent developments suggest GRACEnet will have international impact by contributing leadership and technical guidance for the Global Research Alliance on Agricultural Greenhouse Gases.

  11. 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.

  12. Inter-jurisdictional fiscal competition: a review of the literature and policy recommendations

    Directory of Open Access Journals (Sweden)

    Sergio Guimarães Ferreira

    2005-09-01

    Full Text Available This paper surveys the literature on fiscal competition. We consider tax and expenditure competition in a more general set up where different jurisdictions within a federation may compete in the provision of public goods in order to attract some residents (Tiebout, 1956 and expel others (Brueckner, 1999; and/or for business. We address the vast literature on welfare gains or losses of these types of competition. Then, we discuss the empirical evidence, focusing on estimates of the sensitiveness of production factors to tax differentials and on the importance of the strategic interdependence among jurisdictions. We combine econometric studies with some case studies. Last we discuss the design of mechanisms to cope with fiscal competition, especially under a more global environment where factors become more mobile.

  13. The Queens' estates: fiscal properties and royal policy ( 9th -10th centuries

    Directory of Open Access Journals (Sweden)

    Tiziana Lazzari (a cura di

    2012-10-01

    Full Text Available The special condition of the queens of italic Kingdom during the 9th and 10th centuries is exemplified by the title of consors regni and by the exceptionally copious dowers bestowed to them when compared to those entrusted to other European queens. Through the accurate reconstruction of these dowries, composed of royal fiscal assets, this anomaly is explained within the context of specific royal governmental strategies.

  14. Taxation, revenue allocation and fiscal federalism in Nigeria: Issues, challenges and policy options

    Directory of Open Access Journals (Sweden)

    Salami Adeleke

    2011-01-01

    Full Text Available Taxation is one of the most important and easy sources of revenue to any government, as the government possesses inherent power to impose taxes and levies. Nigeria tax system has been weak due largely to inadequate data of the tax base and heavy reliance on oil revenue. With the volatility in oil prices and excruciating impacts of the recent global financial crisis, taxation deserves more attention now than ever before in Nigeria. One issue that is critical to domestic resource mobilization and utilization is the issue of fiscal federalism. Nigeria operates three tiers of government; Federal, State and Local Governments with separate revenue, expenditure, and assigned responsibilities each. However, all decisions including resources are controlled from the centre and the vertical revenue allocations tilt more towards the direction of federal government, contrary to the tenets of federalism the country is practicing. Both vertical and horizontal revenue in Nigeria is engulfed in controversy. The paper presents key issues, trend and challenges of taxation and fiscal federalism in Nigeria. In addition, the paper highlights a number of suggestions that would stimulate increase in tax revenue and guarantee fiscal assignment acceptable to the federal and sub-national government.

  15. The value of coordination in a two echelon supply chain: Sharing information, policies and parameters.

    OpenAIRE

    Disney, SM; Lambrecht, Marc; Towill, DR; Van de Velde, W.

    2007-01-01

    We study a coordination scheme in a two echelon supply chain. It involves sharing details of replenishment rules, lead-times, demand patterns and tuning the replenishment rules to exploit the supply chain's cost structure. We examine four different coordination strategies; naïve operation, local optimisation, global optimisation and altruistic behaviour on behalf of the retailer. We assume the retailer and the manufacturer use the Order-Up-To policy to determine replenishment orders and end c...

  16. 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...... federations) encourage local taxation, but may discourage federal taxation. Furthermore, the structure of public spending is skewed towards local spending. We also show that, when considering Leviathan governments, fiscal institutions reduce confiscatory taxation by the federal government. The result...... is contrary to the Cartelization Hypothesis ( Brennan and Buchanan 1980 ). Finally, we characterize the efficient design of intergovernmental fiscal ties....

  17. Economic ideas and redistributive policy in the spanish parliament: the 1900 debate on fiscal progressivity

    OpenAIRE

    San Julián Arrupe, Javier

    2012-01-01

    Este artículo analiza la influencia del pensamiento económico en el debate político en España a finales del siglo XIX. En particular, estudia el caso del debate en el Congreso de los Diputados sobre la introducción de tipos progresivos en el impuesto de sucesiones en 1900. El debate muestra que los diputados que participaron en este debate tenían muy en cuenta la importancia respaldar sus posiciones a favor o en contra de la progresividad fiscal con unas bases doctrinales sólidas. Economistas...

  18. European Sovereign Bond-Backed Securities – a Proposal to Mitigate Risks Arisen from the Lack of an Euro Area Common Fiscal Policy

    Directory of Open Access Journals (Sweden)

    Munteanu Bogdan

    2017-01-01

    Full Text Available “European Sovereign Bond-Backed Securities” explores the complexities of having a fiscal unionfor Euro Area. All measures taken for fiscal integration are elements that need cohesion in order tobreak the vicious circle of unsustainable public debt affecting the balance sheets of banks anddeepening the need for rescue, which signals a further deterioration in asset valuation and marketsshrinking, worsening further the economic conditions. The need for a synthetic bond obtained bysecuritization of Euro Area governments’ debts emerges as viable proposal to break this public debt– private debt circle. Furthermore, it explores the “impossible trinity” (Mundell-Flemming and thetranslation into the Euro Area. The conclusions point to the need for institutionalized and officialapproach of introducing such derivative products like European Sovereign Bond-Backed Securitiesin the quest for safe assets, aiming to break the circle of debt (effect by substituting the absence of acommon fiscal policy (cause.

  19. How to decide on the scope, priorities and coordination of information society policy? Analytical framework and three case studies

    NARCIS (Netherlands)

    Poel, M.; Kool, L.; Giessen, A. van der

    2010-01-01

    Purpose: ICT is everywhere, but information society policy cannot address all the sectors and policy issues in which ICT plays a role. This paper's aim is to develop an analytical framework to assist policy makers in deciding on the priorities and coordination of information society policy. Design/m

  20. 75 FR 8953 - Office of the National Coordinator for Health Information Technology HIT Policy Committee...

    Science.gov (United States)

    2010-02-26

    ... and adoption of a nationwide health information technology infrastructure that permits the electronic... HUMAN SERVICES Office of the National Coordinator for Health Information Technology HIT Policy Committee... Technology, HHS. ACTION: Notice of meeting. This notice announces a forthcoming meeting of a public...

  1. Socializing the European Semester? Economic governance and social policy coordination in Europe 2020

    NARCIS (Netherlands)

    Zeitlin, J.; Vanhercke, B.

    2014-01-01

    The European Semester of policy coordination, which is the core of EU’s new institutional architecture for economic and social governance, introduced since the beginning of the Euro crisis, has prompted questions about the nature and dynamics of the EU’s emerging socio-economic governance architectu

  2. Policy Coordination Mechanism and the Debt Crisis in Europe%宏观政策的协调机制与欧洲债务危机

    Institute of Scientific and Technical Information of China (English)

    项松林; 赵曙东

    2012-01-01

    Greece debt crisis had five stages in its development and the amount of debts and ten-year government bond yields against Base on fiscal and monetary joint policy model in Euro area,we argue that unwelcome demand shock is the premise of debt crisis and persistent fiscal policy without coordinating monetary policy is the essential reason.By analyzed quarterly data from 2000Q1 to 2010Q1 in "PIIGS",we find It is different that the coordination mechanism of independent financial policy in the five countries and the euro area's common monetary policy,which caused the Greece became the first debt crisis country.%通过政策调整损失函数的理论模型分析,认为负的需求冲击是构成欧洲债务危机的前提,而缺乏货币政策协调的持续性扩张财政政策是欧洲债务危机的本质原因。对2000Q1—2010Q1的"PIIGS"的季度数据进行实证分析后,发现5国独立财政政策和欧元区共同货币政策的协调机制是存在冲突的。希腊长期均衡和短期调整均存在主权债务危机风险,因而成为首个爆发危机的国家。西班牙、意大利的短期调整虽暂时缓解了主权债务危机出现的可能,但不能解决发生危机的根本问题。而爱尔兰、葡萄牙只是短期内实施了过度的积极财政计划而造成了主权债务危机假象。

  3. From coordinated care trials to medicare locals: what difference does changing the policy driver from efficiency to quality make for coordinating care?

    Science.gov (United States)

    Gardner, Karen; Yen, Laurann; Banfield, Michelle; Gillespie, James; McRae, Ian; Wells, Robert

    2013-02-01

    The terms coordination and integration refer to a wide range of interventions, from strategies aimed at coordinating clinical care for individuals to organizational and system interventions such as managed care, which contract medical and support services. Ongoing debate about whether financial and organizational integration are needed to achieve clinical integration is evident in policy debates over several decades, from a focus through the 1990s on improving coordination through structural reform and the use of market mechanisms to achieve allocative efficiencies (better overall service mix) to more recent attention on system performance to improve coordination and quality. We examine this shift in Australia and ask how has changing the policy driver affected efforts to achieve coordination? Care planning, fund pooling and purchasing are still important planks in coordination. Evidence suggests that financial strategies can be used to drive improvements for particular patient groups, but these are unlikely to improve outcomes without being linked to clinical strategies that support coordination through multidisciplinary teamwork, IT, disease management guidelines and audit and feedback. Meso level organizational strategies might align the various elements to improve coordination. Changing the policy driver has refocused research and policy over the last two decades from a focus on achieving allocative efficiencies to achieving quality and value for money. Research is yet to develop theoretical approaches that can deal with the implications for assessing effectiveness. Efforts need to identify intervention mechanisms, plausible relationships between these and their measurable outcomes and the components of contexts that support the emergence of intervention attributes.

  4. How do local governments decide on public policy in fiscal federalism?

    DEFF Research Database (Denmark)

    Köthenbürger, Marko

    2011-01-01

    Previous literature widely assumes that taxes are optimized in local public finance while expenditures adjust residually. This paper endogenizes the choice of the optimization variable. In particular, it analyzes how federal policy toward local governments influences the way local governments...... decide on public policy. Unlike the usual presumption, the paper shows that local governments may choose to optimize over expenditures. The result holds when federal policy subsidizes local taxation. The results offer a new perspective of the efficiency implications of federal policy toward local...

  5. 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.

  6. The Impact of Fiscal Policy on Poverty in Ethiopia: A Computable ...

    African Journals Online (AJOL)

    Daniel

    tended to decline among urban households. The major conclusion is that the tax policy has dominant adverse effect on poverty in the short-run. Thus, policy ... rank in the report, there is little doubt that a long and rough way awaits as .... analysis is still evolving, incorporating new dimensions and methods in which we can ...

  7. O efeito da liberalização da conta de capital sobre a política fiscal: uma avaliação do caso brasileiro recente The effects of the capital account liberalization on the fiscal policy: an evaluation of the recent Brazilian case

    Directory of Open Access Journals (Sweden)

    Manoel Carlos de Castro Pires

    2006-06-01

    Full Text Available In recent years there has been some agreement that capital account liberalization have provided restriction on economic policies. This paper provides some evidence for Brazil. I find evidence that capital account liberalization provided limits to fiscal policy in Brazil and its effects can depend on exchange rate policy.

  8. The ‘Leap’ from Coordination to Harmonization in Social Policy

    DEFF Research Database (Denmark)

    Guardiancich, I.

    2016-01-01

    The Supplementary Pension Rights Directive, legislated in 2014, represents a leap from minimum co-ordination of social security rights to minimal harmonization, thereby facilitating the portability of occupational pensions across the EU. The Lisbon Treaty, which relaxed the voting requirements...... the growing European influence on domestic pension policy-making. Second, the extension of QMV to sensitive areas of social policy will probably enhance overall harmonization. © 2016 The Author(s) JCMS: Journal of Common Market Studies © 2016 John Wiley & Sons Ltd...

  9. 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...... influence the level of transparency. More equal political competition and power sharing are associated with both greater levels of fiscal transparency and increases in fiscal transparency during the sample period. Political polarization and past fiscal conditions, in particular state government debt...

  10. Education Policy Convergence through the Open Method of Coordination: Theoretical Reflections and Implementation in "Old" and "New" National Contexts

    Science.gov (United States)

    Alexiadou, Nafsika; Fink-Hafner, Danica; Lange, Bettina

    2010-01-01

    This article addresses two key questions about the convergence of education policies in the European Union (EU). How does the open method of coordination (OMC), a new governance instrument for the Europeanisation of education policies, change existing national education policy making and how can the OMC and national responses to it be researched?…

  11. Migration with fiscal externalities.

    Science.gov (United States)

    Hercowitz, Z; Pines, D

    1991-11-01

    "This paper analyses the distribution of a country's population among regions when migration involves fiscal externalities. The main question addressed is whether a decentralized decision making [by] regional governments can produce an optimal population distribution...or a centralized intervention is indispensable, as argued before in the literature.... It turns out that, while with costless mobility the fiscal externality is fully internalized by voluntary interregional transfers, with costly mobility, centrally coordinated transfers still remain indispensable for achieving the socially optimal allocation."

  12. Final report of the Committee on Interagency Radiation Research and Policy Coordination, 1984-1995

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    1995-09-01

    This document is the final report of the Committee on Interagency Radiation Research and Policy Coordination (CIRRPC). The committee was established to address national and international issues involving ionizing and nonionizing radiation. Three sections are included in the report: a summary of CIRRPC`s history structure, and operations; CIRRPC`s most significant activities, findings and recommendations on national radiation issues of sufficient importance and scope to require interagency attention; topics for future consideration by Federal agencies.

  13. Is Chinas Fiscal policy Sustainable: An Empirical Research%中国积极财政政策是否可持续

    Institute of Scientific and Technical Information of China (English)

    王志刚

    2012-01-01

    This paper briefly reviews the literature of fiscal sustainability and test China's fiscal sustainability using standard econometric analysis tools and appropriate model. It makes simulation analysis under different scenarios of inflation rate, economic growth rate, interest payment and seigniorage tax to analyze their impact on sustainable fiscal deficit rate. After a comprehensive analysis it reaches the conclusion that China's current fiscal situation is basically sustainable, Chings public finance as a whole is still in a healthy status, and expansionary fiscal policy is adoptable in recent years. However, debts of local governments should be paid more attention to. Finally it gives some reasonable suggestions of fiscal policy adjustment .%本文简要回顾了财政可持续性(Fiscal Sustainability)相关研究文献,选择国际标准的计量经济学分析工具,选取适当模型对中国财政可持续性进行检验,并就不同情形下的财政可持续性所对应的赤字率进行模拟分析,具体分析了不同情境下通胀、经济增长、利息支付、铸币税等因素对可持续性财政赤字率的影响。综合分析后可以判断中国目前的财政状况基本属于可持续性状态,中国财政整体上仍处于健康状态,积极财政政策仍有作为的空间,但是对于地方政府债务等需要引起高度重视。最后,本文就财政政策调整提出合理的建议。

  14. Brazil - Poverty Reduction, Growth, and Fiscal Stability in the State of Ceara : A State Economic Memorandum, Volume 1. Policy Report

    OpenAIRE

    World Bank

    2000-01-01

    Although the State of Ceara, in Brazil, is a model of good economic, and fiscal performance given its poverty status, recent analysis show poverty remains severe, in spite of significant reductions over the last decade. The combination of good governance, and sound fiscal management, industrial promotion, and public investments have been successful, but the report questions whether differe...

  15. Monetary and fiscal policy design at the zero lower nound - Evidence from the Lab

    NARCIS (Netherlands)

    Hommes, C.; Massaro, D.; Salle, I.

    2015-01-01

    The global economic crisis of 2007-8 pushed many advanced economies into a liquidity trap, a macroeconomic scenario characterised by nomial rates at the zero lower bound (ZLB), low inflation and output below trend. We design an experiment to generate empirical evidence on the effectiveness of polici

  16. 75 FR 18725 - Organization; Eligibility and Scope of Financing; Funding and Fiscal Affairs, Loan Policies and...

    Science.gov (United States)

    2010-04-12

    ... Corporate Analyst, Office of Regulatory Policy, Farm Credit Administration, McLean, VA 22102-5090, (703) 883... election process is critical to good governance, which in turn is essential for institution safety and... outdated regulatory language with more current terminology, and introduces technological alternatives...

  17. Does Agency Competition Improve the Quality of Policy Analysis? Evidence from OMB and CBO Fiscal Projections

    Science.gov (United States)

    Krause, George A.; Douglas, James W.

    2006-01-01

    Public management scholars often claim that agency competition provides an effective institutional check on monopoly authority, and hence, leads to improvement of administrative performance in public sector agencies. This logic was central for creating the Congressional Budget Office (CBO) in 1975 to challenge the policy information provided by…

  18. Borrowing green : economic and environmental effects of green fiscal policy in the Netherlands

    NARCIS (Netherlands)

    Scholtens, B.

    2001-01-01

    This paper analyzes the economic and environmental impact of a policy instrument that is related to the tax deductibility of interest returns and dividend yields from specified 'green' projects. We investigate this so-called 'Green Project Facility' (Regeling Groenprojecten) in the Netherlands durin

  19. The construction of EU's childcare policy through the Open Method of Coordination

    Directory of Open Access Journals (Sweden)

    Elissaveta Radulova

    2009-11-01

    Full Text Available This article elaborates analysis of the normative foundations of the European Union's policy for reconciliation of work and family life, with a specific focus on the shifts produced by the introduction of the Open Method of Coordination in the field of childcare policy. The main objective is to examine how childcare has been conceptualised for the purposes of EU public-policy making throughout the years of European integration (1951-2008 and whether the endorsement of the European Employment Strategy (EES in 1997 has made an impact on this process. Adopting a constructivist analytical framework and policy frame analysis as main research method, the paper maps out the contemporary policy problematizations related to childcare provision, and traces their presence and dynamic development at the EU level. Based on a keyword search in the database of European Union law Eur-Lex, a dataset of 83 documents (42 pieces of secondary legislation and 41 Presidency Conclusions is formed. The latter is subsequently examined through qualitative content analysis. The study reveals the normative and cognitive evolution of the policy-making process prior to and after the introduction of EES.

  20. Do Fiscal Rules Matter?

    DEFF Research Database (Denmark)

    Grembi, Veronica; Nannicini, Tommaso; Troiano, Ugo

    2016-01-01

    Fiscal rules are laws aimed at reducing the incentive to accumulate debt, and many countries adopt them to discipline local governments. Yet, their effectiveness is disputed because of commitment and enforcement problems. We study their impact applying a quasi-experimental design in Italy. In 1999......, the central government imposed fiscal rules on municipal governments, and in 2001 relaxed them below 5,000 inhabitants. We exploit the before/after and discontinuous policy variation, and show that relaxing fiscal rules increases deficits and lowers taxes. The effect is larger if the mayor can be reelected...

  1. Fiscal policy and rebalancing in the euro area: A critique of the German debt brake from a post-Keynesian perspective

    Directory of Open Access Journals (Sweden)

    Hein Eckhard

    2014-01-01

    Full Text Available The German debt brake is often regarded as a great success story and has therefore served as a role model for the Euro area and it’s Fiscal Compact. In this paper we fundamentally criticise the debt brake. Firstly, we show that it suffers from serious shortcomings and that its success is far from certain even from a mainstream point of view. Secondly, we show that, from a Post-Keynesian perspective, the debt brake completely neglects the requirements for fiscal policies of member countries in a currency union like the Euro area. It will prevent fiscal policy from contributing to the necessary rebalancing in the Euro area. Thirdly, we show that alternative scenarios, which could avoid the deflationary pressures of the German Debt Brake on domestic demand and contribute to internally rebalancing the Euro area, are extremely unlikely as they would have to rely on unrealistic shifts in the functional income distribution and/or investment and savings behaviour in Germany.

  2. MANAGEMENT OF SUSTAINABLE SOCIO-ECONOMIC DEVELOPMENT OF REGIONS WITHIN FISCAL AND MONETARY POLICY IN RUSSIA

    Directory of Open Access Journals (Sweden)

    T. Usmanova

    2016-01-01

    Full Text Available Strategy of social and economic development of regions has to be a basis for formation budgetary and tax and a monetary policy. Formation of strategic plans have to provide an exit to the new level of innovative economic and social development of Russia. Adaptation of the current legislation is necessary for the solution of the set major problems regarding budgetary and tax and a monetary policy in the Russian Federation. The important direction of development of social and economic development of territories is the clustering and formation of projects of the public-private partnership (PPP. Within integration of the countries into the world economy the organizations as systems in the form of clusters and the PPP projects can only be the competitive. Within formation of the organizations as systems it is necessary to provide formation of standards of a sustainable development (SEU for social protection of the population and increase of the human capital.

  3. Scaling up the health workforce in the public sector: the role of government fiscal policy.

    Science.gov (United States)

    Vujicic, Marko

    2010-01-01

    Health workers play a key role in increasing access to health care services. Global and country-level estimates show that staffing in many developing countries - particularly in Sub-Saharan Africa - is far leaner than needed to deliver essential health services to the population. One factor that can limit scaling up the health workforce in developing countries is the government's overall wage policy which sometimes creates restrictions on hiring in the health sector. But while there is considerable debate, the information base in this important area has been quite limited. This paper summarizes the process that determines the budget for health wages in the public sector, how it is linked to overall wage policies, and how this affects staffing in the health sector. The author draws mainly from a recent World Bank report.

  4. Will the poor and high consumers benefit more by obesity prevention fiscal policies? Evidence from Mexico

    OpenAIRE

    2013-01-01

    The increasing burden of obesity and related non-communicable diseases in the world has encouraged the design of effective policies in order to contain this trend. Excise taxes on low-nutritious food and sugar-sweetened beverages consumption, such as soft-drinks, have been proposed. Currently, a growing number of studies have calculated potential effects of soft-drinks taxes considering data for average consumers, and have assessed effectiveness of such measure on raising fresh revenues to th...

  5. Reconsidering to Fiscal Rules in European Union: Six-Pack and Evaluation of Turkey

    Directory of Open Access Journals (Sweden)

    Musa Gok

    2012-07-01

    Full Text Available Although the EU has financial rules stipulated in the Maastricht Criteria, the 2008 global financial crisis had a negative impact on the financial performance of EU countries with reference to fiscal rules. Some EU member countries have slacked their fiscal policies, had budget deficit and postponed their fiscal rule policies to cope with global financial crisis. The fiscal rule is revived to establish fiscal discipline in EU member countries aftermath of financial crisis in Greece. Furthermore, the enormous levels of budget deficits in Portugal, Spain and Italian economies contributed the revival of discussions on harmonization to Maastricht Criteria. The EU Commission proposed a Six-Pack Application to effective co-ordination and monitoring of economic policies, on September 29th, 2010. The European Council approved the Six-Pack on October 4th, 2011, aiming to co-ordinate the economic policies of EU countries with reference to European Semester application. This paper aims to discuss the functionality and effectiveness of the Six-Pack Application and evaluate Turkey’s financial indicators with reference to the Six-Pack Application.

  6. Inter-sectoral coordination in forest policy : a frame analysis of forest sectorization processes in Austria and the Netherlands

    NARCIS (Netherlands)

    Verbij, E.

    2008-01-01

    Inter-sectoral coordination has become a central issue in different forest policy arenas worldwide and is considered to be essential for solving a whole range of problems the forest sector is currently facing

  7. [Possibilities and limitations of fiscal policies as health instruments: taxes on harmful consumption. SESPAS Report 2010].

    Science.gov (United States)

    López Nicolás, Angel; Viudes de Velasco, Arántzazu

    2010-12-01

    This article discusses the possibilities of indirect taxation as a mechanism that alters the relative prices of goods and services and hence encourages citizens to adopt healthy lifestyles. We review the case of smoking and unhealthy diet. These two cases were chosen because these are the two lifestyle factors with the greatest impact on morbidity and mortality in Spain and because they highlight the possibilities of tax policy (smoking) and its limitations (unhealthy diet). After discussion of these issues, we recommend gradually increasing the level of the minimum special tax on cigarettes and avoiding erosion of its value by inflation, as well as aligning the level of the minimum special tax on fine cut tobacco with that borne by cigarettes, to avoid the already perceived shift of demand toward the former variety. The main recommendation for the case of unhealthy diet is to obtain a more solid evidence base than that currently available on the relationship between food prices and body mass index in Spain. The scarce evidence available for the USA nevertheless suggests that the possibilities of price-based policies to reduce the problems of overweight and obesity are highly limited. Copyright © 2010 SESPAS. Published by Elsevier Espana. All rights reserved.

  8. La política fiscal en el modelo de sustitución de importaciones Fiscal policy in the import substitution model

    Directory of Open Access Journals (Sweden)

    Giraldo Giraldo César

    1996-12-01

    Full Text Available El modelo de sustitución de importaciones, el manejo de las finanzas públicas, que buscaba redistribuir el ingreso y fomentar la producción nacional, contribuyó al proceso de industrialización y modernización de América Latina. Las funciones fiscales se alejaron de su orientación inicial porque cambiaron las condiciones económicas que dieron origen al modelo, y porque los controles impuestos para racionalizar el manejo de las divisas y fomentar la producción se convirtieron en privilegios que promovían una economía rentista que desestimuló una inversión productiva, generó una alta concentración del ingreso y limitó la expansión del mercado interno.In the import substitution model the management of public finance, which attempts to redistribute in comeand promote national production, contributed to the process of industrialization and modernization in latin America. The fiscal functions moved away from their initial orientation because the economic conditions from which the model originated had changed and because the controls put in force to rationalize the handling of foreign currency and promote productionturned into privileges which promoted a rentier economy, which discouraged productive investment, generated a high concentration of income, and limited the expansion of the internal market.

  9. Eurozone Convergence Impact on the Romanian Fiscal Budgetary System

    Directory of Open Access Journals (Sweden)

    Alina - Georgiana Solomon

    2016-03-01

    Full Text Available The Treaty on European Union and the Treaty on the Functioning of the European Union, Romania's main responsibility is to strengthen the national economy, to ensure real and nominal convergence, the integration in the Economic and Monetary Union. Basically, the completion of the integration of the Romanian state. In this context, special attention should be paid to the convergence. In its realization requiring strict coordination of macroeconomic policies, and thus of the fiscal and budgetary emphasizing structural reforms and ensuring a stable economic environment and robust. Therefore, the content of this paper includes an analysis of measures taken to strengthen fiscal discipline and how the fiscal targets have been or can be met.

  10. In search of the Iberian business cycle: endogenous fiscal policy and the changing nature of the state, 1945-2000.

    OpenAIRE

    Battilossi, Stefano; Foreman-Peck, James

    2007-01-01

    Paper presented at: The Seventh Conference of the European Historical Economics Society (EHES), University of Lund (Sweden), 29 June- 1 July 2007 Paper presented at: Third Iberian Economic History Workshop: Iberometrics III, Valencia, March 23-24, 2007 Both fiscally responsible and irresponsible governments may have fiscal reaction functions which reduce or increase the amplitude and duration of business cycles. This, we suggest, is the key to the pattern of Iberian fluctuations in e...

  11. Política fiscal y control del tabaco: una oportunidad única para beneficiar a la salud pública y al erario Fiscal policy and tobacco control: a unique opportunity to benefit public health and the public treasury

    Directory of Open Access Journals (Sweden)

    Pedro Enrique Armendares

    2006-01-01

    Full Text Available Diversos estudios y análisis demuestran que el aumento en el precio del tabaco a través de los impuestos es una de las herramientas más eficientes dentro de una política integral de combate al tabaquismo. Los incrementos en los impuestos contribuyen a promover la cesación, a reducir el consumo y el número de muertes entre los adictos y a disminuir el número de personas que empiezan a fumar. Sin embargo, muchos gobiernos dudan en aplicar altos impuestos al tabaco por temor a posibles daños económicos incluyendo la pérdida de empleos y la disminución en los ingresos fiscales como consecuencia del contrabando. La literatura especializada y la experiencia empírica indican que tales consecuencias negativas no se producen o han sido sobreestimadas, con frecuencia debido a los argumentos promovidos por la propia industria tabacalera. Los incrementos en los impuestos al tabaco reditúan en mayores ingresos fiscales, incluso en presencia del contrabando, el cual puede ser combatido sin erosionar las políticas de control de tabaco. La experiencia internacional indica que numerosos países, incluyendo México, aún tienen un amplio margen para aumentar los impuestos al tabaco y aprovechar una oportunidad excepcional de beneficiar tanto a la salud de la población como al erario público. Para ello es necesario enfrentar a la poderosa industria tabacalera, la cual sabe bien de la eficiencia de los impuestos para combatir el tabaquismo y por lo tanto recurre a intensas campañas de propaganda, al cabildeo político y a la negociación de acuerdos voluntarios para "autorregularse" con tal de evitar medidas legales o fiscales más estrictas.Various studies and analyses show that an increase in tobacco prices through taxation is one of the most efficient tools in the application of integral policies in the fight against tobacco. Increases in taxes contribute to cessation, to reductions in consumption and in the number of deaths among addicts and to

  12. Does supranational coordination erode its national basis? The case of European labour market policy and German industrial relations

    Directory of Open Access Journals (Sweden)

    Torsten Niechoj

    2009-11-01

    Full Text Available During recent decades improved supply chain management, innovation in information technology, new financial instruments, etc. have changed the economic environment for production in the EU significantly. This led to and was accompanied by increased coordination of economic policy and the use of a new mode of governance, the Open Method of Co-ordination. Simultaneously, at the national level tendencies of fragmentation in industrial relations appeared. Is this mere congruence, or is it possible to establish causal relationships? For the case of Germany the impact of coordinated European policies on industrial relations at national level is assessed. Potential consequences for supranational economic governability are discussed.

  13. 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”.

  14. [Immigration in Spain and the health system: a fiscal policy perspective].

    Science.gov (United States)

    Blanco Moreno, Angela; Hernández Pascual, Javier

    2009-12-01

    The Spanish population has grown by over 6 million people in the last 10 years and immigrants account for 4.5 million of this increase. Although this influx has largely been motivated by economic reasons, stimulated by the sharp growth of the Spanish economy, sociological factors must also be considered to assess the impact of immigration shock on public expenditure and the social welfare system. On the one hand, the demographic growth caused by immigration temporarily balances the pension system, as immigrants have a lower average age and a higher fertility rate. On the other hand, the demographic and economic features of the immigrant community make additional demands on the social welfare system. Universal access to basic public services such as the education and health systems is a crucial asset in the integration policy aimed at the immigrant collective, and compensates for its possible effect as an incentive to immigrate. In the short term, the huge population growth has led to health services' congestion, especially in primary health care, because of the unequal geographic distribution of immigrants. The health expenditure imputable to immigrants is lower than their share in the total population and is highly concentrated in four autonomous regions.

  15. The Economic consequences of Mitigation of the Population aging through the Fiscal Policy

    Directory of Open Access Journals (Sweden)

    K. Véghová

    2013-06-01

    Full Text Available The aim of this study is to explore in what extent does the increase of the number of productive population by using immigrant labour force represents a possible solution for the USA and the EU member states, which could weaken the effects of economic consequences of aging. This issue is relevant also because the USA and the EU member states have been amongst the most popular destinations of international migration. Therefore, these two subjects can or will have to choose from potential immigrants, as the number of them coming to these countries is much higher than America or Europe want to accept (just think of more than a million arrested illegal migrants in these countries every year. We can claim that the ongoing economic reforms in western countries (e.g. the French retirement reform, the German reform of the labour market and creation of immigrant policies, economic benefits of migration to decrease problems caused by aging, are positive. Slow speed is typical for them, accompanied by resistance of inhabitants and fear of the consequences of political decisions. The direction is correct, but sometimes the speed is not. Furthermore, problems with applying the law can occur, along with breaking the immigration laws and a series of repeated amnesties are good practical examples of that. Faster speed and prompt decisiveness are expected from the politicians

  16. Searching for Political Fiscal Cycles in Hungary

    Directory of Open Access Journals (Sweden)

    Endrit Lami

    2013-12-01

    Full Text Available Hungary has had a remarkably high public debt throughout the transition, and it has continued to increase during recent years, exceeding 80% of the GDP. Its debt and fiscal deficit were the highest among the Visegrád countries during the transition. One factor triggering the debt increase may be elections-related fiscal policies. By analyzing quarterly data for Hungary, we found clear empirical evidence of fiscal expansion before elections and contractions afterwards. These events are widely known as political fiscal cycles. We observed statistically significant incremental increases in fiscal deficits as elections approach, both in nominal and in GDP ratios, followed by contractions after elections. Thus, it can be concluded that incumbents in Hungary are engaged in opportunistic political fiscal cycles by embracing expansionary fiscal policy before parliamentary elections. Our findings also suggest that political fiscal cycles in Hungary may be an underlying factor contributing to the accumulation of public debt.

  17. Striving for Sustainable Development and the Coordinating Role of the Central Government: Lessons from Swedish Housing Policy

    Directory of Open Access Journals (Sweden)

    Kristina Söderholm

    2016-08-01

    Full Text Available Housing plays an important role in the development of welfare policies and also often in achieving sustainability goals. There exists, however, implementation gaps between policies and practices in urban development and housing. Here it should be possible to draw lessons from policy implementations in the past. In this article we explore the strategies of the Swedish central government in implementing a social housing policy in the mid-20th century. The policy was successfully implemented in that it resulted in the rapid expansion and modernisation of the Swedish apartment stock in the late 1960s and early 1970s, and acute housingshortages and poor housing standards were overcome. The main lesson learned from the Swedish case study is the critical role of the central government in implementation throughthe strategic coordination of policy aims, instruments, stakeholders and interests throughout the implementation process. Although the central government could have used hard, almost authoritarian policy instruments to force the realisation of the new policy, it mainly used soft policy tools and focused on coordination. In the contemporary networked governance setting, the central government, like no other player, still has the potential to guide and coordinate implementation processes for the realization of sustainable housing visions.

  18. An avenue for expansionary fiscal contractions

    OpenAIRE

    Afonso, António

    2007-01-01

    Expansionary fiscal contractions were first illustrated by several fiscal episodes that occurred in Europe during the 1980s. This paper suggests a simple analytical textbook model that encompasses both Keynesian and non-Keynesian effects of fiscal policy. In such a context, the possibility of expansionary fiscal contractions is linked to the responsiveness of the risk premium of domestic interest rates to the budgetary position of the government and to the existence of credit-rationed consumers.

  19. 居家养老服务体系财税政策空间及顶层设计--基于上海市的实证研究%Top Design for Fiscal Policies on Service of Aged-care at Home---An Empirical Study Based on Data of Shanghai

    Institute of Scientific and Technical Information of China (English)

    伍德安; 杨翠迎

    2015-01-01

    Fiscal policies are important instrument variables of fiscal responsibility in elderly care service, and policy routes and financial support capacity constitute the core of the public responsibility, directly related with the construction and development of an aged-care service system.Shanghai is a special area of the most prominent aging problem in our country. Based on field research and forecast of demand for service to the elderly population, this article argues that it is time to in-tegrate social security and other welfare capital into a fiscal pool, and build a comprehensive service system that combines pen-sion, health care insurance, elderly welfare, nursing and housing to improve the life quality of the elderly people.By coordi-nating policy kits and fiscal capacities, it comes to top design for fiscal policies on aged-care at home.%财税政策是养老服务财政责任的重要工具变量;政策路径与财力支持能力是核心,直接关系服务体系建设与发展。上海是中国老龄化最突出的地区。本文以问题为导向,基于实际调查与老龄人口服务需求预测;通过居家养老服务财税政策空间及财政支持能力关联分析,从“财税、社保、民政福利”财力统筹及“养、医、康、护、住”服务融合的全局,设计与经济社会发展相适应、满足老年服务需求以及发挥财税政策效能三者相协调的财税支持政策顶层框架,并进行政策效果模拟,制定财税政策分步实施路线。

  20. Asian tsunami relief: Department of Defense public health response: policy and strategic coordination considerations.

    Science.gov (United States)

    Tarantino, Dave

    2006-10-01

    The Asian tsunami of December 26, 2004, was one of the most devastating natural disasters in modern history. In particular, this disaster created massive, unique, public health threats, necessitating equally massive public health response efforts. The U.S. government (USG), including the Department of Defense (DoD), played a pivotal role in the response. This article examines some of the central policy issues and strategic coordination and planning measures involved in the public health response. The nearly unanimous consensus of international public health experts has been that the potential public health crisis in the aftermath of the Asian tsunami was averted largely because of the coordinated efforts of host nation officials and professionals, international and nongovernmental health organizations, and bilateral donors, especially the USG, including the DoD. The DoD played a central role in public health efforts through coordination and communication assistance, logistical and materiel support, disease surveillance activities, health needs assessments, and the contributions of the USS Mercy hospital ship. The core lessons involve the importance of an early, dedicated, public health response as a component of the overall disaster relief effort, as well as seamless coordination of health sector stakeholders in the USG and with those of the international community and affected host nations, which allows each organization to play to its strengths and to avoid duplication. The Asian tsunami relief effort highlighted the value of civil-military cooperation in disaster relief, particularly in the area of public health. The prominent role of the DoD in tsunami relief efforts, including public health efforts, also yielded beneficial secondary effects by bolstering security cooperation and winning "hearts and minds" in the region.

  1. 推进主体功能区建设的财政政策选择与完善--以福建省为例%The Choice and Improvement of Fiscal Policy to Boost the Construction of the Main Functional Areas

    Institute of Scientific and Technical Information of China (English)

    肖碧云

    2013-01-01

    It requires both theoretical innovation and the support of the relevant policies to achieve the goal of building the main functional areas. Fiscal policy, as an important means of macroeconomic regulation and control, plays an important role in the coordination of regional development pro-cess. Therefore, to promote fiscal policy needs further improvement of the financial management system to improve the financial transfer payment sys-tem, to achieve the equalization of basic public services, and needs to choose a suitable ecological compensation model , and to promote sustainable de-velopment.%实现主体功能区建设的目标,既需要理论方面的创新,也需要相关政策的支持。财政政策作为调控宏观经济的重要手段,在协调区域发展的过程中发挥着重要作用。所以,推进主体功能区建设的财政政策,要进一步完善省以下财政管理体制,使政府财力向基层倾斜,改善财政转移支付制度,实现基本公共服务均等化,选择一套适合的生态补偿模式,促进可持续发展。

  2. Coordinating two-period ordering and advertising policies in a dynamic market with stochastic demand

    Science.gov (United States)

    Wang, Junping; Wang, Shengdong; Min, Jie

    2015-03-01

    In this paper, we study the optimal two-stage advertising and ordering policies and the channel coordination issues in a supply chain composed of one manufacturer and one retailer. The manufacturer sells a short-life-cycle product through the retailer facing stochastic demand in dynamic markets characterised by price declines and product obsolescence. Following a two-period newsvendor framework, we develop two members' optimal ordering and advertising models under both the centralised and decentralised settings, and present the closed-form solutions to the developed models as well. Moreover, we design a two-period revenue-sharing contract, and develop sufficient conditions such that the channel coordination can be achieved and a win-win outcome can be guaranteed. Our analysis suggests that the centralised decision creates an incentive for the retailer to increase the advertising investments in two periods and put the purchase forward, but the decentralised decision mechanism forces the retailer to decrease the advertising investments in two periods and postpone/reduce its purchase in the first period. This phenomenon becomes more evident when demand variability is high.

  3. Fiscal and monetary policies in light of the increasing debt service Las políticas fiscal y monetaria a la luz del creciente servicio de la deuda

    Directory of Open Access Journals (Sweden)

    González Jorge Iván

    1996-06-01

    Full Text Available The progressive increase in the servicing of the debt reflects a weakening of the structure of public finance and an intensification of the policy of monetary stabilization. In the last few years, the external debt has been replaced by internal debt. In an imperfect capital market, such as that which exists in Colombia, this handling of monetary policy distorts the interest rate and turns it into merely the expression of the immediate objectives of monetary policy.El progresivo aumento del servicio de la deuda refleja un debilitamiento en la estructura de las finanzas públicas y en la intensificación de la política de estabilización monetaria. En los últimos años, la deuda externa ha sido sustituida por deuda interna. En un mercado imperfecto de capitales, como el que existe en Colombia, este manejo de política monetaria distorsiona la tasa de interés y la convierte en mera expresión de los objetivos inmediatos de la política monetaria.

  4. Política social focalizada e ajuste fiscal: as duas faces do governo Lula Focused social policy and fiscal adjustment: two sides of the Lula government

    Directory of Open Access Journals (Sweden)

    Graça Druck

    2007-06-01

    Full Text Available Este texto tem por objetivo analisar a natureza e as principais características da política social do governo Lula, evidenciando a sua estreita relação com a política econômica liberal-ortodoxa legada do governo anterior como uma 'herança maldita', mas mantida e aprofundada pelo novo governo. Portanto, mais do que esmiuçar todos os detalhes e dimensões dessa política social, o objetivo é o de apreender o seu conteúdo e significado político-econômico maior, a partir daquilo que lhe é central e que a define politicamente, inclusive em termos simbólicos, qual seja: o programa focalizado de combate à pobreza denominado Bolsa Família.The purpose of this article is to analyze the nature and principal characteristics of the Lula government's social policy, revealing its close relationship with the liberal-orthodox economic policy inherited from the previous government as a 'cursed legacy', but maintained and extended by the new government. Therefore, more than reviewing all the details and dimensions of this social policy, the purpose is to analyze its content and broader political-economic meaning, considering its central and politically defining element, even in symbolic terms: the Family Grant program to combat poverty.

  5. Fiscal Policy Intervention in Social Comparisons of Prisoner's Dilemma%社会攀比囚徒困境的财税政策干预

    Institute of Scientific and Technical Information of China (English)

    陈永霞

    2013-01-01

      “幸福”美好生活的最终目标,作为社会性的动物,生活在社会之中的人们必然离不开社会比较。渗透在诸多领域的社会攀比作为一种普遍、甚至无处不在的社会现象,对人们的幸福感知有较大的影响。试图将博弈论的囚徒困境模型引入社会攀比的效应分析,深入探讨社会攀比的困境模型,以论证税收公共政策干预效果。进而总结出社会攀比困境的财政财税政策干预措施,以期能为治理社会攀比提供一种新的政策思路。%The ultimate goal of a happy and better life. As social animals, People live in the society is inseparable from the social comparison. Social comparison in many fields as an common and even everywhere social phenomenon have a great influence on people's perception of happiness. The paper tries to analyse the effect of the social comparisons with the theory model of prisoner's dilemma, deeply study the dilemma model of social comparisons, and expound and prove the effect of tax public policy intervention argument. And then summed up the fiscal measures to fiscal policy intervention in social comparison dilemma and provide a new policy ideas for management of social comparison.

  6. War on Poverty--Victory or Defeat? Hearing before the Subcommittee on Monetary and Fiscal Policy of the Joint Economic Committee, Congress of the United States, Ninety-Ninth Congress, First Session (June 20, 1985).

    Science.gov (United States)

    Joint Economic Committee, Washington, DC.

    This document presents a transcript of a Joint Subcommittee on Monetary and Fiscal Policy hearing on the impact of the Federal "War on Poverty" programs. Testimony and submissions for the record included: (1) a paper by Lowell Gallaway et al., "The 'New' Structural Poverty: A Quantitative Analysis," which examines the effects…

  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. 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

  9. Fiscal Policy in Europe: The Past and Future of EMU Rules from the Perspective of Musgrave and Buchanan

    OpenAIRE

    Buti, Marco; Sapir, André

    2006-01-01

    During the ‘Golden Age’ that lasted until the mid-1970s, Europe witnessed a "public finance" phase, when the three sides of Musgrave’s triangle - allocative efficiency, redistribution and cyclical stabilisation - seemed to reinforce one another. EMU's fiscal rules - embodied in the Maastricht Treaty and the Stability and Growth Pact - can be regarded as the attempt by European governments to overcome the subsequent "public choice" phase à la Buchanan which was characterised by increasing budg...

  10. When learning hits politics or: Social policy coordination left to the administrations and the NGOs?

    Directory of Open Access Journals (Sweden)

    Sandra Kröger

    2006-05-01

    Full Text Available Processes of soft policy coordination in the EU and of Europeanization have in recent years mostly been conceptualised in terms of learning. The OMC is mostly seen as inducing ideational, cognitive and possibly normative learning between member states. However, the generalised learning assumption stands in sharp constrast with the little amount of empirical evidence provided so far by scholarly research. This contribution addresses the learning assumption by looking at two empirical processes of the OMC inclusion: the drawing-up of the National Action Plans (NAPs in France and Germany, and the place of learning within this OMC, the peer reviews, in order to evaluate whether minimal conditions for supranational learning dynamics were given. The results show that minimal conditions for supranational learning processes were not met in both member states nor within the context of the peer reviews. While this can to some degree be explained by institutional differences, the main explaining variable appears to be the lack of political will: at the domestic level, this lack hinders a synchronisation of the European and national agendas while at the European level, the same lack stands in the way of further positive integration.

  11. 江苏推进供给侧改革的财政政策分析%Analysis on Fiscal Policy of Pushing forward the Supply-Side Reform in Jiangsu

    Institute of Scientific and Technical Information of China (English)

    孙克强; 陈涵; 范玮

    2016-01-01

    在推进供给侧改革进程中,应积极发挥政府的宏观调控职能,运用好财政政策可以起到事半功倍的效果。结合对供给侧改革的分析,论述江苏运用财政政策支持供给侧改革的有效途径与政策选择。%In the process of pushing forward the supply-side reform,the government should ac-tively play macroeconomic control functions,and make good use of fiscal policy to achieve a multiplier effect.Combining the analysis on the supply-side reform,the article will discuss the effective way and the policy option to support the supply-side reform with taking use of fiscal policy in Jiangsu.

  12. 财政政策、货币政策和产业政策对宏观经济作用的实证分析%Empirical Analysis of the Effect on Macroeconomic Caused by Fiscal Policy, Monetary Policy and Industrial Policy

    Institute of Scientific and Technical Information of China (English)

    熊彬; 陈雁

    2015-01-01

    The simultaneous application of the three policies of fiscal policy, monetary policy and industrial policy is one of important characteristics to promote the development of economy in China. Since 2008, in response to the financial crisis, Chinese government implemented a series of macro-control measures to stabilize the economic growth and control inflation. The empirical analysis of the effect on economic growth and of inflation caused by the three major macro-control measures of fiscal policy, monetary policy and industrial policy is carries out, the conclusions are obtained. On this basic, the policy suggestions are put forward.%财政政策、货币政策与产业政策三大政策并用,是我国推动经济发展的重要特征之一.2008年以来,中国政府为应对金融危机,实施了一系列宏观调控措施以稳定经济增长与治理通货膨胀.对财政政策、货币政策和产业政策这三大宏观调控政策对经济增长与通货膨胀的作用进行实证分析,得出结论并在此基础上提出政策建议.

  13. Empirical Analysis Economic Growth Effects of Fiscal and Monetary Policies%实证分析财政与货币政策的经济增长效应

    Institute of Scientific and Technical Information of China (English)

    郭晨阳

    2013-01-01

      运用VAR模型、脉冲响应函数和方差分解分析,对我国财政政策和货币政策的经济增长效应进行了分析,结果表明扩张性的财政政策短期内能够刺激经济增长,但长期内对经济是抑制的;扩张性的货币政策短期内对经济增长的影响大于财政政策,但从长期可以看作是中性的。%In this paper ,the VAR model ,impulse response function and variance decomposition a-nalysis ,the effect on the economic grow th of China's fiscal policy and monetary policy analysis ,results show that the expansionary fiscal policy to stimulate economic grow th in the short term ,but long -term economic suppression ;expansionary monetary policy in the short-term impact on economic grow th than fiscal policy ,but in the long term can be seen as neutral .

  14. Overall Planning of Development of Urban-Rural Areas:A Policy Mechanism for Urban-Rural Coordinated Growth

    Institute of Scientific and Technical Information of China (English)

    Sun Jin

    2004-01-01

    While analyzing overall planning and coordinated development of urban-rural areas, this paper shows that overall planning for the development of urban-rural areas is a requirement for the best use of productive forces. It means the setting up of a policy mechanism for coordinated growth.Recognizing this, the government should set up a way to lead and manage a unified program to increase service and decrease controlling administration power,while safeguarding and fulfilling the farmers' ownership to the means of production.

  15. The FCC in Fiscal 1971.

    Science.gov (United States)

    Federal Communications Commission, Washington, DC.

    Fiscal 1971 saw major actions by the Federal Communications Commission (FCC) in all areas of its jurisdiction. In broadcasting, the FCC proposed new renewal rules and policies and issued a number of significant rulings on Fairness Doctrine matters. A policy statement outlining FCC cable television plans was submitted to the Congress. In the common…

  16. CONSIDERATIONS REGARDING MONETARY AND FISCAL EXIT STRATEGIES FROM THE CRISIS

    Directory of Open Access Journals (Sweden)

    MARIA VASILESCU

    2010-03-01

    Full Text Available The recent financial crisis and all unusual monetary and fiscal policy reactions have stressed the importance to be given to understand macroeconomic consequences of policy interventions and their interactions. This profound crisis has led to both nonstandard policy actions of various authorities around the globe, but it has also revealed limitations of traditional modeling tools to guide policymakers’ actions until nowadays. The delicate state of governments’ accounts in many countries is a consequence of the strong fiscal policy reactions, giving rise to risks of a potential fiscal crisis. Issues regarding monetary and fiscal policy decisions interactions are, therefore, the key element for successful exit strategies from the crisis.

  17. Responsabilidad fiscal

    OpenAIRE

    Manuel Alberto Restrepo-Medina

    2010-01-01

    Una de las características distintivas del sistema constitucional adoptado en 1991 es el desarrollo de mecanismos de control al ejercicio de la autoridad, uno de los cuales es el control fiscal, que bajo un tratamiento normativo diferente del vigente hasta entonces, se orienta a la preservación de los recursos públicos y a su aplicación a los fines esenciales del Estado. Dentro del nuevo esquema constitucional del control fiscal, su objeto de vigilancia lo constituye la gestión fiscal, cuyo e...

  18. Study on assessing the environmental fiscal reform potential for the EU28

    DEFF Research Database (Denmark)

    Hogg, Dominic; Elliott, Timothy; Elliott, Laurence

    2016-01-01

    and consumption taxes”. The AGS set out three pillars that it foresaw as underpinning the EU’s economic and social policy for 2015:  A coordinated response to boosting investment;  A renewed commitment to structural reforms; and  The pursuit of fiscal responsibility. Environmental taxes (together...... with consumption and recurrent property taxes) are considered less detrimental to growth than other taxes such as on labour or corporate income and are increasingly promoted in the context of economic recovery and growth-friendly fiscal consolidation. The references to more growth friendly tax systems......, and the expressed desire to promote more efficient use of both energy and other resources, point towards a role for environmental fiscal reform (EFR) as a means to set the European economy on a trajectory of growth with a strong shade of green....

  19. Budget, fiscal and monetary policy in Poland and demand for transport – forwarding – logistics industry services

    Directory of Open Access Journals (Sweden)

    Ryszard Rolbiecki

    2013-06-01

    Full Text Available Macroeconomic policy of a country does not always have an effect on the demand for transport. The lack of a clear relation between the nature of macroeconomic policy and changes in demand for transport services is a consequence of the overall complexity of the economic system. It can also be a result of the lack of consistency between budget and monetary policy. Macroeconomic policy as a tool to control global demand only indirectly affects the changes in demand for transport. Transport activity is in fact determined by changes in the real economy, which directly influence the increase or decrease in demand for transport services.

  20. Fiscal incentives, behavior change and health promotion: what place in the health-in-all-policies toolkit?

    Science.gov (United States)

    Sassi, Franco; Belloni, Annalisa

    2014-06-01

    Taxes, subsidies and welfare benefits may provide financial incentives to encourage healthy behaviors or discourage less healthy ones. Historically, taxes have been used in many countries to deter behaviors like tobacco smoking or harmful alcohol use. More recently, an increasing number of governments have sought to expand the scope for the use of fiscal measures in health promotion to foods and beverages high in fat, salt or sugar. A strong public health rationale, supported by a growing body of evidence of the health impacts of taxes and other fiscal measures, adds to the more traditional rationale for the use of commodity taxes, which hinges on their revenue-generating potential and their ability to address the costs imposed by consumers of health-related commodities on other individuals. Despite limitations in the existing evidence base, reviewed in this paper, taxes have been shown to generate significant health gains when applied to tobacco products and alcoholic beverages. In the case of foods and non-alcoholic beverages, the effects tend to build up over time and are stronger in people with lower socio-economic status. However, a number of potentially undesirable effects suggest that governments should exercise caution in planning and implementing taxes on health-related commodities. In particular, commodity taxes are generally regressive, and this is especially the case for taxes on tobacco, foods and non-alcoholic beverages, although the actual size of the tax burden involved is relatively modest. In addition, taxes may negatively impact on economic efficiency and social welfare, and may incentivize illicit activities.

  1. TAX HARMONIZATION VERSUS FISCAL COMPETITION

    Directory of Open Access Journals (Sweden)

    Florin Alexandru MACSIM

    2016-12-01

    Full Text Available Recent years have brought into discussion once again subjects like tax harmonization and fiscal competition. Every time the European Union tends to take a step forward critics enter the scene and give contrary arguments to European integration. Through this article we have offered our readers a compelling view over the “battle” between tax harmonization and fiscal competition. While tax harmonization has key advantages as less costs regarding public revenues, leads to higher degree of integration and allows the usage of fiscal transfers between regions, fiscal competition is no less and presents key advantages as high reductions in tax rates and opens a large path for new investments, especially FDI. Choosing tax harmonization or fiscal competition depends on a multitude of variables, of circumstances, the decision of choosing one path or the other being ultimately influenced by the view of central and local authorities. Our analysis indicates that if we refer to a group of countries that are a part of a monetary union or that form a federation, tax harmonization seems to be the best path to choose. Moving the analysis to a group of regions that aren’t taking any kind of correlated actions or that have not signed any major treaties regarding monetary or fiscal policies, the optimal solution is fiscal competition.

  2. The confidence effects of fiscal consolidations

    NARCIS (Netherlands)

    R. Beetsma; J. Cimadomo; O. Furtuna; M. Giuliodori

    2015-01-01

    We explore how fiscal consolidations affect private sector confidence, a possible channel for the transmission of fiscal policy that has received particular attention recently as a result of governments embarking on austerity trajectories in the aftermath of the crisis. Panel regressions based on th

  3. The confidence effects of fiscal consolidations

    NARCIS (Netherlands)

    Beetsma, R.; Cimadomo, J.; Furtuna, O.; Giuliodori, M.

    2015-01-01

    We explore how fiscal consolidations affect private sector confidence, a possible channel for the transmission of fiscal policy that has received particular attention recently as a result of governments embarking on austerity trajectories in the aftermath of the crisis. Panel regressions based on

  4. Committee on Interagency Radiation Research and Policy Coordination (CIRRPC). Seventh annual report

    Energy Technology Data Exchange (ETDEWEB)

    Young, A.L.

    1991-06-30

    In 1990--91 CIRRPC`s program included efforts to improve interagency coordination on ionizing radiation risk assessments, a review of the reported health risks to humans from exposure to extremely low- frequency electric and magnetic fields (ELF/EMF), and increased coordination with national and international organizations such as NCRP and ICRP.

  5. Governance for Learning Outcomes in European Policy-Making: Qualification Frameworks Pushed through the Open Method of Coordination

    Directory of Open Access Journals (Sweden)

    Odd Bjørn Ure

    2015-12-01

    Full Text Available The construction of European education policy builds on a widely shared goal of transparency in qualifications, upheld by the popular narrative of mobile students endowed with scholarships from the EU Erasmus programme, which  allow them  to transfer credit points between universities and across national borders. EU education policy is increasingly inscribed in National Qualification Frameworks (NQF. Their European umbrella is coined  the European Qualification Framework (EQF, which is linked to a discourse on or even shift to Learning Outcomes; functioning as  a tool for the displacement of input to output categories in education systems with a view to make qualifications more transparent. This form of governance situates Learning Outcomes as a tool for policy reform that intentionally should affect all educational and administrative levels of European education. The article shows that the multitude of governance instruments used to promote a shift to Learning Outcomes are so varied that EU education policy has no apparent need of new instruments for this purpose. The fact that Learning Outcomes are linked to EU policy instruments of the Open Method of policy-Coordination and destined for several sectors of education, increases the likelihood that they will be translated into modified learning practices. Yet, there is a danger that governance of Learning Outcomes succumbs to a pitfall of declaratorily placing Learning Outcomes in the middle of learning practices in all subsectors of education, without sufficiently proving their real novelty and regulatory functions.

  6. Did the Non-linear Effect of Fiscal Policies on the Rural Residents'Consumption Occur?%财政政策对农村居民消费产生了非线性效应吗?

    Institute of Scientific and Technical Information of China (English)

    储德银; 闫伟

    2011-01-01

    The nonlinear effect of fiscal policies on the rural residents'consumption is a specific research problem in China's urban and rural dual society. Studying this problem can not only provide practical evidences for the evaluation of China's fiscal policy practice, but also can provide a new idea for the future choices of the Government fiscal policy in post-crisis times. Our researching has shown : Firstly, the performance of fiscal revenue and expenditure on the rural residents'consumption is the Keynesian effects in normal times, but the Keynesian effect of fiscal revenue is not significant. Secondly, in the two special periods of contraction and expansion, the effects of fiscal revenue and expenditure on the rural residents'consumption are the significant non-Keynesian effects. Thirdly, in terms of the total effect of fiscal policy on the rural residents'consumption during the special period, the total effect of fiscal revenue on the rural residents'consumption is the non-Keynesian effects in the two special periods of contraction and expansion, however, the overall impact of expenditure is the Keynesian effect during the expansion periods, that is, the Keynesian effect of fiscal expenditure is in a dominant position during the expansion. But the total effect of fiscal expenditure on the rural residents'consumption can not be finalized in the tightening times.%财政政策对农村居民消费的非线性效应是中国城乡二元社会背景下的特有研究命题。本文对于这一问题的研究不仅能为客观评价我国财政政策实践提供理论依据,还可以为后危机时代政府未来财政政策抉择提供全新思路。本文研究发现,财政收入和支出在正常时期对农村居民消费表现为凯恩斯效应,但财政收入的凯恩斯效应并不显著;在紧缩和扩张两个特殊时期,财政收入和支出对农村居民消费均产生了显著的非凯恩斯效应;就特殊时期财政政策

  7. Cincuenta años de política fiscal en materia de vivienda = Fifty years of tax policy in housing

    Directory of Open Access Journals (Sweden)

    Carlos Carbajo Nogal

    2012-03-01

    Full Text Available ResumenEl objetivo de este trabajo es analizar la evolución de la política de vivienda en nuestro país a partir de los años sesenta y hasta la actualidad, estudiando para ello los planes plurianuales de subsidios y ayudas a la vivienda. Estos actúan como instrumentos presupuestarios que incluyen medidas de fomento basadas, en la mayor parte de los casos en ayudas a fondo perdido, en la financiación de los diferenciales de interés o de la propia cuota o en la concesión de créditos preferenciales en función de los ingresos de las familias y del tipo de viviendas protegidas en cada periodo; se hace particular hincapié en los beneficios de naturaleza fiscal, que en los años sesenta y setenta se centran en la ampliación del hasta entonces escaso parque de viviendas sobre las que la población española empezaba ya a decantarse sobre el régimen de tenencia en propiedad. Desde esa fecha hasta hoy las políticas públicas han ido evolucionando y pese al alto nivel de viviendas en régimen de propiedad, los poderes públicos han vuelto de nuevo la vista al mercado del alquiler como posible respuesta al problema de la vivienda.AbstractThe aim of this paper is to analyze the evolution of housing policy in our country since the sixties and until today, by assessing grant term plans and housing assistance. These act as budgetary instruments including building measures based, in most cases in refundable aid in the financing of interest rate differentials or own quota or preferential lending based on income family and the type of housing in each period; places particular emphasis on the benefits of a fiscal nature, that at first, in the sixties and seventies are focused on expanding the hither to scarce housing stock on that the Spanish population was beginning to opt for tenure in property. From then until now public policies have evolved and despite the high level of housing ownership, public authorities have become again the view to the rental

  8. Teoria do federalismo fiscal: notas sobre as contribuições de Oates, Musgrave, Shah e Ter-Minassian

    Directory of Open Access Journals (Sweden)

    Mauro Santos Silva

    2005-01-01

    Full Text Available This text presents and comments on the classic proposals of Oates and Musgrave, relative to the effort of conforming the profile of the federative system and the possibilities of optimizing the tax policy, to the recent contributions presented by Shah and Ter-Minassian, focused on the improvement of the fiscal federative relations in the context of a guided economic policy concentrated primarily on reaching the objectives related to stabilization. The objective of this article is to present and comment on the theoretical contributions of Oates, Musgrave, Shah and Ter-Minassian, referring to the core themes of the federative issue: autonomy, fiscal functions, taxing authorities, fiscal transfers and the relevance of the coordinating action conducted by the federal government. The text demonstrates the complexity involved in the theoretical treatment and the related issues on federative policies, and shows the need for continuous improvement of the institutions that preside over fiscal relations in the federative context, based on the coordinating action led by the federal government.

  9. Evaluation on Performance of China's Fiscal Policy of Direct Subsidy to Grain Farming%我国财政对粮食直接补贴的政策绩效评价

    Institute of Scientific and Technical Information of China (English)

    张荐华; 刘培生

    2015-01-01

    本文结合我国粮食财政直接补贴的政策实践,通过构建粮食财政直接补贴政策绩效的评价指标体系,对评价指标体系做出标准化处理,再运用层次分析法(AHP 方法)计算出各指标的权重,然后通过 AHP 模型对我国粮食财政直接补贴政策的绩效做出综合评价。结果显示:国家实施粮食财政直补前后的政策绩效差异较为明显,粮食直补政策对粮食产量和农民增收具有显著的正相关;因此,未来的粮食安全与农民稳定增收问题仍亟须补贴政策的加强及相关政策的配套和完善。%Combined with the practice of fiscal policy of direct subsidies to grain farming in China,this paper sets up an AHP model (analytic hierarchy process)to evaluate China's fiscal policy of direct subsidies to grain farming by establishing an indica-tors system,standardizing evaluation system and calculating the weight of each indicator.The result shows that there is a differ-ence in the fiscal policy performance between direct and indirect subsidies to grain farming and a positive correlation between fis-cal policy of direct subsidies to grain farming and grain farming production and farmers'income.Therefore,grain farming security and farmers'income growing in the future still need strengthening of fiscal policy of direct subsidies and the support of better rele-vant policies.

  10. 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…

  11. 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…

  12. 市场信心、经济波动与财政政策%Market Confidence,Economic Fluctuation and Fiscal Policy

    Institute of Scientific and Technical Information of China (English)

    卢学英; 白文周

    2015-01-01

    This paper aims to find out whether market confidence changes will result in economic fluctuations, and how to choose fiscal regulation policies to stabilize market confidence so as to maintain macroeconomic stability. We employ the vec⁃tor autoregressive model(VAR) to analyze quarterly data based on the control of relevant variables. We find that:The lagged ef⁃fect of market confidence changes on China’s macro-economy is significant,whereas the time paths of the effects of business confidence changes and consumer confidence changes on the macro-economy are obvious different. Although the proactive fis⁃cal policy has been playing a positive role in boosting market confidence since 1999, the effects are remarkable different among policy instruments. The tightening fiscal revenue policy has the reverse depressing effect on market confidence, but not significant. The expansionary expenditure policy facilitates to boost market confidence in the economic downturn,but the effects among different expenditure items vary greatly. Among them, the increase of science, education, culture, health and other social spending have a positive impact on market confidence, while the expansion of administrative costs signifi⁃cantly deteriorates market confidence.%市场信心变化是否会造成经济波动,如何选择财政调控策略稳定市场信心进而保持宏观经济稳定,文章利用矢量自回归模型和季度数据,在控制相关变量基础上对此进行的研究表明,市场信心变化对我国宏观经济的滞后影响非常显著,其中企业信心变化与消费者信心变化对宏观经济产生影响的时间路径存在明显差异,虽自1999年以来,积极财政政策对提振市场信心发挥了积极作用,但作用效果在不同政策工具之间差异明显。紧缩性财政收入政策虽对市场信心具有反向抑制效应,但并不显著,扩张性支出政策虽在经济低迷时期有助于提振市场信心

  13. Balancing Fiscal, Energy, and Environmental Concerns: Analyzing the Policy Options for California’s Energy and Economic Future

    Directory of Open Access Journals (Sweden)

    Edward Manderson

    2013-03-01

    Full Text Available This study estimates the fiscal, energy, and environmental tradeoffs involved in supplying California’s future energy needs. An integrated framework is developed whereby an econometric forecasting system of California energy demand is coupled with engineering-economic models of energy supply, and economic impacts are estimated using input-output models of the California economy. A baseline scenario in which California relies on imported electricity to meet future demand is then compared against various energy supply development scenarios over the forecast horizon (2012–2035. The results indicate that if California implements its renewable portfolio standard (RPS, there will be a substantial net cost in terms of value added, employment, and state tax revenues because the economic benefits of building capacity are outweighed by higher energy prices. Although carbon emissions fall, the cost per ton of avoided emissions is well above market prices. Building out natural gas fired generation capacity also leads to losses compared to the baseline, although the impacts are relatively minor. Meanwhile, a strategy of replacing imported crude oil and natural gas with domestic production using indigenous resources increases gross state product, employment, and tax revenues, with minimal impact on carbon emissions. This option could, therefore, help mitigate the costs of California meeting its RPS commitment.

  14. FISCAL DISCIPLINE FOR GROWTH: THE REMEDY OR THE ILLUSION IN THE CONTEXT OF THE EURO AREA CRISIS

    OpenAIRE

    Sinan SÖNMEZ

    2013-01-01

    Ever since the outbreak of the sovereign debt crisis, coordinating economic growth with fiscal sustainability has been on the European agenda. Fiscal consolidation calls for fiscal sustainability and austerity programs. But at present economic contraction/recession is the main problem, particularly in the Euro area. The problem has therefore transformed to one of combining and/or coordinating economic growth with fiscal sustainability. As fiscal discipline is a pivotal element of macroeconomi...

  15. 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.

  16. A Class of Dynamical Model to Fiscal and Monetary Policies in Transition%转轨经济中财政与金融政策的动力学模型

    Institute of Scientific and Technical Information of China (English)

    胡知能; 徐玖平

    2001-01-01

    针对转轨经济中由政府与企业和个人所组成的经济系统,建立了一类关于货币政策与财政政策和税收政策为政策工具的货币经济动力学模型,阐明了转轨经济不景气情形下各种政策工具的作用和效果。%This paper presents a class of dynamical monetary economic modelby co nsidering various policy instruments, viz monetary policy, fiscal policy and tax ation policy for the economic systems composed of government, companies and the public, and analyzes different effects of various policy instruments on transi tion economy especially in depression.

  17. 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.

  18. 财政政策动态效应与价格水平的财政决定理论检验%Test for Dynamic Effect of Fiscal Policy and Fiscal Theory of Price Level

    Institute of Scientific and Technical Information of China (English)

    张函; 邓学龙

    2012-01-01

    运用一个5变量的结构向量误差修正模型(SVECM),估计财政支出和财政收入外生冲击对GDP、价格水平等相关宏观经济变量的动态效应,同时对价格水平的财政决定理论(FTPL)进行检验。冲击的识别结合相关财政政策决策滞后的假定采用区分持久冲击和暂时冲击的方法。结果表明,正的政府收入冲击将显著减少产出并降低价格水平;正的政府支出冲击对产出的正面影响不如减少财政收入的冲击,其对价格水平的影响也不显著。有理由相信,减税比扩大政府支出更有利于经济增长。另外,在选取的样本期内,价格水平的财政决定理论得不到实证支持。%Adopting a five-variable SVECM model, this paper estimates the dynamic effect of fiscal revenue and spending shocks on such macroeconomic variables as GDP, price level and so on, and test the fiscal theory of price level at the same time. The identifying methods of shocks are distinguishing permanent and transitional shocks with the assumption of fiscal decision lag. The empirical result shows that the positive fiscal revenue shocks significantly reduce the output and price level, whereas the positive effect on the output due to positive shocks of fiscal spending is weaker than that of negative shocks of fiscal revenue, the effect on price of fiscal spending shocks is not significant. Thus, it 's reasonable to believe that tax-cutting will do better in the economic growth than expanding the fiscal spending. In addi- tion,in the period of sampling, the results don't support the fiscal theory of price level.

  19. The Fiscal Impact of the Milwaukee Parental Choice Program: 2010-2011 Update and Policy Options. SCDP Milwaukee Evaluation. Report # 22

    Science.gov (United States)

    Costrell, Robert M.

    2010-01-01

    This report analyzes the net fiscal impact of the Milwaukee Parental Choice Program (MPCP). The net fiscal benefits of the MPCP have continued to grow. The estimated increase was particularly sharp in FY10, from $37.2 million to $46.7 million. This increase was primarily due to the cut in the voucher amount, while MPS' per pupil revenues continued…

  20. EURO AREA FISCAL STRUCTURES. A MULTIVARIATE ANALYSIS

    Directory of Open Access Journals (Sweden)

    HURDUZEU Gheorghe

    2014-07-01

    Full Text Available The European framework for fiscal policies is constructed mainly on the objective of monitoring budget balances and public debt, allowing national governments to decide on the specific fiscal policy that is more suitable to their internal context and public needs. However, for Euro Area member states this autonomy is restricted by the conditions imposed through the Stability and Growth Pact. As the recent macroeconomic dynamics underlined the necesity of improving the fiscal outcomes, the fiscal framework was updated and modified by the provisions of the new European economic governance meant to avoid unsound and unsustainable fiscal policies that could affect the stability of other Euro Area member states. The Six-Pack, the Fiscal Compact and the other conditions imposed by the reform of the fiscal governance framework are meant to ensure more discipline in drafting and executing national budgets. Even so, national authorities maintain their fiscal sovereignty and the decision regarding fiscal structures remains at their disposal, as long as the drafts are approved and the outcomes are maintained in the limits imposed through the supranational fiscal framework. Regardless of the numerous differences between member states, similar trends regarding tax mixes can be noticed in time. The objectives of this paper is to analyze fiscal structures of Euro Area member states and to determine, if any, groups with similar fiscal structures, their composition and the similarities that characterize Euro Area in this respect. In order to have a clear overview of fiscal structures within Euro Area, we analyzed data for 17 member states, for year 2012, taking into consideration total general government revenue, indirect taxation, direct taxation and social contributions. As one of the aims of this paper is to determine whether in Euro Area the main contributors are corporations or individuals, we also analyzed the structure of direct taxation, dividing it into

  1. PUBLIC POLICY AND TAXATION

    Directory of Open Access Journals (Sweden)

    IOSIF MOLDOVAN

    2014-10-01

    Full Text Available The state administration process and hence also the economy coordination effort requires the promotion of robust, consistent and transparent public policy, which must be accepted by all stakeholders of economic development. Public policy is a set of measures taken by the authorities legally constituted as public power. Under normal conditions these policy aims at improving living conditions of citizens by developing grounded strategies which are applied by measures implemented to stimulate economic development in all its complexity by harmonizing the efforts of the institutional and non-institutional bodies responsible for ensuring the overall public interest. In Romania, public policies, especially fiscal ones on which we dwell, not reached in many cases the expected effects primarily because of their superficial grounding, lack of transparency, unpredictability, poor communication and secondly as an effect of ineffective management of public financial resources.

  2. Política fiscal, asequibilidad y efectos cruzados de precios en la demanda de productos de tabaco: el caso de Uruguay Fiscal policy, affordability and cross effects in the demand for tobacco products: the case of Uruguay

    Directory of Open Access Journals (Sweden)

    Alejandro Ramos Carbajales

    2010-01-01

    elasticity of the demand for cigarettes were important countervailing factors in the demand of both products. The period 2005-2009 shows a large increase of 36% in household real income in Uruguay due to fast economic recovery after the 2002 crisis. The second factor is the interchangeability of roll your own and cigarettes and the impact on the demand of each product as a reaction to tax and price changes. The tax and price of roll your own tobacco remains substantially lower than that of cigarettes. This fact, and the increased substitution of roll your own for cigarettes seems to be the main reasons for the low impact of the policy of tobacco tax and price increases. This paper then consists of a revision of a 2004 study to estimate separate demands for both main tobacco products and obtain estimates for own price, cross price and income elasticities. Then, a simulation study was performed using the elasticities found and two scenarios of increases in household income: moderate (2.5% per year and high (5% per year confirming that countries where income is growing fast and with a potential for substitution towards cheaper products require substantial cigarette tax and price increases for a fiscal tobacco control policy to become effective.

  3. 宏观调控中的财政货币政策搭配%On the Coordination of Fiscal Policy and Monetary Policy in Macroeconomic Control

    Institute of Scientific and Technical Information of China (English)

    王景武

    2005-01-01

    财政政策与货币政策无论是在微观经济领域还是在宏观经济领域都相互影响、相互制约.作为现代宏观经济管理中的核心政策,实现两者的最佳配置并使其具有科学性、系统性和针对性,对于实现我国经济目标和促进经济的健康发展具有重要意义.

  4. Advancing science and policy through a coordinated international study of physical activity and built environments

    DEFF Research Database (Denmark)

    Kerr, Jacqueline; Sallis, James F; Owen, Neville;

    2013-01-01

    National and international strategies to increase physical activity emphasize environmental and policy changes that can have widespread and long-lasting impact. Evidence from multiple countries using comparable methods is required to strengthen the evidence base for such initiatives. Because some...... environment and policy changes could have generalizable effects and others may depend on each country's context, only international studies using comparable methods can identify the relevant differences....

  5. In-Depth Study Of European Union Fiscal Approximation

    Directory of Open Access Journals (Sweden)

    Andreea Roxana TOMI

    2011-05-01

    Full Text Available The current study presents a viewpoint on the EU fiscal policy contents, advocating the need for an in-depth understanding and acceleration of the 27 national fiscal system components and the creation of the EU Tax System that would enable the Single Market operation and the enforcement of the four fundamental liberties within the European Union. In the author’s opinion, the extant common fiscal policy elements are only marginal, while the actions aimed at an in-depth understanding of a broad fiscal policy are essential to the extent they point at both direct and indirect taxation aspects whose approximation is a priority.

  6. Fiscal decentralization and its effects on macroeconomic performance

    OpenAIRE

    Yalım, Derya

    2003-01-01

    Cataloged from PDF version of article. Decentralization has become an important policy issue in recent years. International organizations allocate more space for fiscal decentralization in their agenda. In the literature, there are vast amount of studies that concentrate on the advantages or disadvantages of fiscal decentralization. The literature suggested that with a good policy design of the fiscal decentralization, especially developing countries might achieve desired ou...

  7. On the Fundamental Principles of Economic Policy

    Directory of Open Access Journals (Sweden)

    Witold Jakóbik

    2007-04-01

    Full Text Available The article contributes to the debate focused on the institutional principles of policies conducted by the fiscal as well as the monetary authorities. The author offers a brief review of the main relations between the aims of macroeconomic policy and the instruments that enable to fulfill the former. At the same time specific determinants of the aim-oriented decisions by the central bank or the government are reviewed. Last but not least in the analysis is the dilemma of policy mix coordination and the formal/informal status of the government as well as of the central bank is extensively discussed.

  8. 提升战略性新兴产业科技创新能力的财税政策研究%Study on Fiscal Policies to Upgrade Science and Technology Innovation Ability of Strategic Emerging Industries

    Institute of Scientific and Technical Information of China (English)

    潘文轩

    2012-01-01

    Upgrading science and technology innovation ability is the key to the development of strategic emerging industries. "Market failure" in science and technology innovative activities requires the government intervention by means of fiscal policies. Through setting up public service platform, providing financial support, reducing tax burden and innovation risks, fiscal policies can play important roles in promoting science and technology innovation ability of strategic emerging industries. During the process of policy the key points requiring support should be clarified, stage-differentiated policies sh making and implementation, ould be adopted according to the characteristics of innovation process, policies should be more targeted by distinguishing technology levels. Moreover, integrated use of a series of fiscal policies including general budgetary expenditure, fiscal subsidies, financial security, preferential taxation and government procurement is of necessity to enhance science and technology innovation ability of strategic emerging industries in China.%提升科技创新能力是战略性新兴产业发展的关键所在。由于科技创新活动存在“市场失灵”,因此需要政府通过财税政策给予必要的支持。财税政策可以通过搭建科技创新公共服务平台、为科技创新提供财力支持、减轻科技创新税收负担、降低科技创新综合风险等途径,促进战略性新兴产业科技创新能力的提升。在财税政策的制定和实施过程中,要明确支持科技创新能力提升的重点领域和关键环节,根据产业创新进程特点实行阶段差别化政策,区分产业技术水平,实行有针对性的政策,综合运用一般预算支出、财政补贴、财政担保、税收优惠、政府采购等一揽子政策工具,切实增强我国战略性新兴产业的科技创新能力。

  9. An Empirical Study of the Impact of Fiscal Policy on the Bank Credit Structure%财政政策对商业银行信贷结构影响的实证研究

    Institute of Scientific and Technical Information of China (English)

    邓志国; 吴建新

    2011-01-01

    The urgent concern problem of the post financial crisis era is to accelerate structural adjustment of economy. With its distribution function, fiscal policy constitutes an effective way for the structural adjustment. It can regulate and control the economic structure directly through taxes, investments and public expenditures, and indirectly through guiding social capital, particularly the bank credit capital. Focusing on the indirect regulation and control of fiscal policy on economic structure, this paper applies the relevant theories of fiscal policy, integrates systematic advantage of Input-output Technique and makes an empirical analysis of the guiding function of fiscal policy on bank credit delivery, aiming at enhancing its function in economic structural adjustment. In addition, this analysi8 can also aid the commercial banks to make their policies to keep consistent with the state macroeconomic regulation and control policy, and thus make timely and effective adjustments of credit delivery%加快结构调整已成为我国迫切需要解决的重要问题.财政政策在经济增长中具有再分配功能,对结构调整较为有效,不仅可以通过税收、投资和公共支出等对经济结构进行直接调控,而且可通过引导银行信贷资金对经济结构进行间接调控.结合财政政策理论,借用投入产出技术,从财政政策间接调控经济结构的角度,实证分析财政政策对银行信贷资金投放的引导作用,便于财政政策更好地发挥"结构调整"功能,并帮助商业银行保持和国家财政政策的一致性.

  10. 利用财政税收政策控制交通污染%Traffic Pol ution Control with Fiscal Policies

    Institute of Scientific and Technical Information of China (English)

    杨琦佳; 任雅娟

    2014-01-01

    为了控制机动车污染,减轻雾霾对人民群众健康的威胁,亟须利用有效的财政税收政策手段,控制交通污染。首先阐述城市交通与大气污染的关系,用数据说明机动车尾气排放已成为大中城市空气污染的主要来源,且其作为移动污染源,对居民生活造成的影响更为直接。然后通过分析现行机动车税费政策,指出现有政策在重型车调控、成品油税率、车船税以及新能源汽车等方面存在的不足。最后,提出扩大现行汽车消费税征收范围、加大成品油消费税补贴、改革车船税、加大对新能源汽车行业的政策扶持力度等建议,加强对交通污染的控制。%Effective fiscal policies are necessary to control vehicle pollution and mitigate the hazard im-posed to human health by smog. Through analyzing the interrelation between urban traffic and air pollu-tion using related data, this paper states that vehicular emission has become the major source of air pollu-tion in large and medium cities. As a moving pollution source, vehicular emission has a more direct impact on the lives of residents. Based on the existing vehicle taxation policy, the paper reveals the deficiency of existing policy in regulation and control of heavy vehicles, tax rate of petroleum products, vehicle and ves-sel taxes, and new energy vehicles. Finally, the paper provides suggestions on traffic pollution control in several aspects, including vehicle excise duty coverage expansion, increasing subsidy for fuel consumption tax, reforming vehicle and vessel tax, more support to the sustainable energy vehicle industry, and etc.

  11. 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.

  12. 78 FR 53425 - Indirect Cost Rates for the Damage Assessment, Remediation, and Restoration Program for Fiscal...

    Science.gov (United States)

    2013-08-29

    ... policy for these fiscal years. For cases not settled and cost claims not paid prior to the effective date of the fiscal year in question, costs will be recalculated using the revised rates in this policy for... Indirect Cost Rates for the Damage Assessment, Remediation, and Restoration Program for Fiscal Year 2012...

  13. 77 FR 57074 - Indirect Cost Rates for the Damage Assessment, Remediation, and Restoration Program for Fiscal...

    Science.gov (United States)

    2012-09-17

    ... resolved matters for the purpose of applying the revised rates in this policy for these fiscal years. For..., costs will be recalculated using the revised rates in this policy for these fiscal years. Where a..., and Restoration Program for Fiscal Year 2011 AGENCY: National Oceanic and Atmospheric Administration...

  14. Planned development and coordination of public policies as a starting point in the harmonization of national regulations with the EU aquis

    Directory of Open Access Journals (Sweden)

    Jovanić Tatjana

    2014-01-01

    Full Text Available One of the most important aspects of harmonizing Serbian legislation with the EU law, however still neglected in Serbia, is the mutual relationship between the design and coordination of public policies on the one hand, and the harmonization of legislation in the course of negotiations for EU accession, on the other hand. This aspect has been largely neglected because of the misuse of emergency procedure for adopting legislation in order to assure compatibility with the EU law, but also due to underdeveloped regulatory policies, which has been reduced to the guillotine of legislation, instead of developing a cycle of policy and analytical phase that precedes the drafting of legislation. Although the negotiating structure of European integration has been improved, the Negotiation Team and Coordination Body certainly can not replace the role of policy makers in their creation. Since the new Law on Ministries envisaged the creation of the Secretariat for the coordination of public policies, an institutional prerequisite for the implementation of the function of harmonizing public policy proposals has been put forward, but is not yet clear what powers in the policy cycle this institution would have. In any case, this administrative body will certainly complement Serbian coordination structure in the negotiation process.

  15. THE STRUCTURAL DEFICIT – A NEW MEASURE FOR FISCAL DISCIPLINE IN THE EURO AREA

    Directory of Open Access Journals (Sweden)

    Cristina PUIU

    2013-12-01

    Full Text Available The aim of this paper is to assess the importance of the new limit for the government deficit in order to improve fiscal discipline in the Economic and Monetary Union in Europe. Since the introduction of the single currency there have been debates regarding the lack of fiscal integration. The monetary integration process triggered the centralization of monetary policies while the fiscal policies remained at national level. Although the member states of the euro area were subject to restrictions imposed by the Stability and Growth Pact in order to provide an assurance against asymmetric shocks, the recent financial crisis revealed high levels of public deficits. Thus, the measures were not enough to establish an environment of fiscal discipline in the currency area and the currency area proved to be suboptimal. Therefore, new limits were imposed through the Treaty of Stability, Coordination and Governance in the Economic and Monetary Union. This study will provide a clear understanding of the concept of structural deficit, measures used to quantify it and the shortcomings of this indicator. Furthermore, it will show that, despite the limits of the indicator, it represents an improvement in achieving stability in the euro area.

  16. 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

  17. The Opportunistic Strategy and Its Application in China’s Fiscal Policy Rules%“机会主义”策略及其在我国财政政策规则中的运用∗

    Institute of Scientific and Technical Information of China (English)

    邓伟

    2016-01-01

    The regulation of fiscal policies not only exerts intrinsic automatic stabilizer function,but also embodies policy intentions of governments,being consistent with op-portunistic strategy.This paper incorporates the idea of opportunistic strategy into fiscal policy rules to study the existence of opportunistic strategy in the regulation of fiscal poli-cies on inflation and output in China.It arrives at the main findings as follows:the fiscal policy targets including inflation and economic growth show stronger time-varying charac-teristics,and the regulation on economic growth depends on the deviation from the inter-mediate target of economic growth.Specifically speaking,while the deviation between eco-nomic growth and its intermediate target is within the interval between -0.95% to 2.85%,fiscal policies exert intrinsic automatic stabilizer function,showing stronger iner-tia;while the deviation between economic growth and its intermediate target is out of the interval between -0.95% to 2.85%,fiscal policies tend to be active,and play an active moderating role in economic growth.%财政政策既要发挥内在的自动稳定器功能,又要体现政府的政策意图,具有与“机会主义”策略一致的内涵。文章将“机会主义”策略融入财政政策规则,对我国财政政策对通胀和产出的调节是否表现出“机会主义”策略进行了研究,得到的主要结论可以概括为:我国财政政策对通胀和经济增长目标值的关注表现出较强的时变性,且其对经济增长的调节依赖于对经济增速中间目标的偏离程度。当经济增速与中间目标的偏离位于区间[-0.95%,2.85%]内时,财政政策将发挥内生的自动稳定器功能,表现出较强的惰性;而当经济增速与其中间目标的偏离位于该区间外时,财政政策则表现出较强的活性,会对经济增长产生积极的调节作用。

  18. 78 FR 33331 - Tribal Consultation and Coordination Policy for the U.S. Department of Commerce

    Science.gov (United States)

    2013-06-04

    ... policy allows operating units to delegate authority. Comment 27: The Department's tribal consultation... official may delegate authority to appropriate individuals within the operating unit. c. The head of each... independent entities, such as the First Responder Network Authority (FirstNet). Response: The Department will...

  19. Toward Coordinated Robust Allocation of Reserve Policies for a Cell-based Power System

    DEFF Research Database (Denmark)

    Hu, Junjie; Heussen, Kai; Claessens, Bert;

    2016-01-01

    Conventional regulation reserves have fixed participation factors and are thus not well suited to utilize differentiated capabilities of ancillary service providers. This study applies linear decision rules-based (LDR) control policies, which effectively adapt the present participation factor in ...... to the cooperation of multiple cells. Two illustrating examples are presented to show the functioning of the proposed LDR method....

  20. 75 FR 33811 - Office of the National Coordinator for Health Information Technology; HIT Policy Committee's...

    Science.gov (United States)

    2010-06-15

    ... Committee's Privacy & Security Tiger Team Meeting; Notice of Meeting AGENCY: Office of the National... Policy Committee's Privacy & Security Tiger Team. General Function of the Committee: To provide....blsmeetings.net/consumerchoicetechnologyhearing . Seating is limited at the location, and ONC will make every...

  1. Advancing science and policy through a coordinated international study of physical activity and built environments

    DEFF Research Database (Denmark)

    Kerr, Jacqueline; Sallis, James F; Owen, Neville

    2013-01-01

    National and international strategies to increase physical activity emphasize environmental and policy changes that can have widespread and long-lasting impact. Evidence from multiple countries using comparable methods is required to strengthen the evidence base for such initiatives. Because some...

  2. 75 FR 64748 - Amendment to the Report on the Selection of Eligible Countries for Fiscal Year 2011

    Science.gov (United States)

    2010-10-20

    ... from the International Monetary Fund (IMF) for its Fiscal Policy indicator. The amendment to the... makes MCC's use of this indicator even more transparent. Amendment The description of the Fiscal Policy indicator appearing on page 61218 is amended to read: Fiscal Policy: General government net lending...

  3. Fiscal and accounting policies on the income taxes. Conciliation between accounting and taxation at the company’s level

    Directory of Open Access Journals (Sweden)

    Carmen Elena ANTON

    2015-12-01

    Full Text Available In order to develop commercial relations, the harmonization of the tax system with the accountancy of the company is oriented towards the elaboration of accounting policies pursuing the interest of the management to enforce the development strategies and sending the necessary information to the shareholders in order to underlie the economic decisions. The purpose of this paper is to highlight the relation accounting – taxation and the tendency in the approach of this relation showed by the managers of the companies from the point of view of income tax. The research methods took into consideration qualitative methods. The reading and systematization of the specialty literature enabled an overview of the accounting – taxation and shaped an action direction for the harmonization process intensification at the company’s level.

  4. Environmental fiscal reforms

    Directory of Open Access Journals (Sweden)

    Ashish Chaturvedi

    2014-09-01

    Full Text Available The paper presents concepts and instruments of environmental fiscal reforms (EFR and their application in the Indian context. EFR can lead to environmental improvement more efficiently and cost effectively than traditional regulation. There is substantial experience of successful EFR implementation in the European Union. India has also adopted some EFR measures such as deregulation of petrol prices, coal cess, and subsidy for setting up common effluent treatment plants. The challenges of implementing EFR measures in India are also discussed, including inadequate analysis, policy framework and institutional capacity, as well as conflict with poverty reduction and building political support.

  5. Integrated Application of Fiscal and Monetary Policies: Inspiration from Collaborative Theory of Fiscal and Monetary Policies by DENG Ziji%论财政政策、货币政策的配套运用——学习邓子基先生财政货币政策协同理论的心得

    Institute of Scientific and Technical Information of China (English)

    詹向阳

    2012-01-01

    The Collaborative Theory of Fiscal and Monetary Policies by Mr. Deng Ziji is rich and inspiring. This paper summarizes the academic thoughts of Mr. Deng and highlights his theoretical contribution to collaboration of fiscal and monetary policies. Based on these thoughts and theories, the paper interprets the main points of monetary policies in the next stage under current situations both home and abroad.%邓子基先生关于财政与银行、财政政策与货币政策协调配合的理论思想丰富而深刻。本文对邓先生的财政银行学术思想进行了总结,重点阐述了邓先生在财政政策与货币政策配合方面的理论贡献。基于这些思想和理论,本文还结合当前国内外经济形势,对下一阶段货币政策操作的着力点进行了说明。

  6. 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

  7. ANTICIPATED AND UNANTICIPATED FISCAL POLICY SHOCK AND ITS MACRO ECONOMIC EFFECT%预期到的与未预期到的财政政策冲击及其宏观影响

    Institute of Scientific and Technical Information of China (English)

    丁志帆

    2016-01-01

    [提要]本文根据1999—2014年中国宏观经济季度数据,在动态随机一般均衡模型框架下,考察了预期到的与未预期到的财政政策的宏观经济效应及其传导机制。本文研究发现:第一,预期到的与未预期到的财政政策均具有显著的宏观经济效应,二者合起来可以解释36.34%的产出波动、14.24%的就业波动和6.18%的物价波动;第二,与未预期到的财政政策直接影响经济均衡系统不同,预期到的财政政策主要是通过影响经济主体关于未来经济状态的信念来改变经济的均衡配置;第三,财政政策的宏观经济效应不仅取决于所选取的政策类型,而且受公众预期的影响。因此,政府不仅应当根据宏观经济目标理性选择财政政策工具,而且需要合理引导公众预期,以增强财政政策的针对性和有效性。%Based on the dynamic stochastic general equilibrium model,this paper studies the macro economy effects and internal propagation mechanisms under the anticipated and unanticipated fiscal policies using China�s quarterly macroeconomic data between 1999 and 2014.This study found as follows:Firstly, macro economy effects can explain 36.34% of the output volatility,14.24% of the employment volatility and 6.1 8% of the price volatility.Secondly,different from the unanticipated fiscal policy affecting the eco-nomic equilibrium system directly,the anticipated fiscal policy changes economic equilibrium system main-ly through affecting the public�s belief.Thirdly,the fiscal policy shock�s macroeconomic effects not only depend on the type of public policies,but also need to consider the public�s anticipation.Therefore,the government should not only select rationally the fiscal policy based on the macroeconomic target,but also reasonably guide the public�s anticipation,strengthen the fiscal policy�s pertinence and effectiveness.

  8. Responsabilidad fiscal

    Directory of Open Access Journals (Sweden)

    Manuel Alberto Restrepo-Medina

    2010-03-01

    Full Text Available Una de las características distintivas del sistema constitucional adoptado en 1991 es el desarrollo de mecanismos de control al ejercicio de la autoridad, uno de los cuales es el control fiscal, que bajo un tratamiento normativo diferente del vigente hasta entonces, se orienta a la preservación de los recursos públicos y a su aplicación a los fines esenciales del Estado. Dentro del nuevo esquema constitucional del control fiscal, su objeto de vigilancia lo constituye la gestión fiscal, cuyo ejercicio inadecuado, lesivo del erario, da lugar a la deducción de la consecuente responsabilidad patrimonial por parte de las contralorías. Ante la ausencia de desarrollo legal dada la precariedad de la regulación procesal contenida en la Ley 42 de 1993, la evolución conceptual al respecto fue asumida por las altas cortes hasta la expedición de la Ley 610 de 2000. Sin embargo, la demora en la expedición del estatuto legal que desarrollara integralmente el ejercicio de esta atribución de las contralorías, impide efectuar un juicio sobre las bondades o las fallas de la existencia y aplicación de esta institución jurídica de estirpe constitucional.

  9. 浅析财政参与政策性农业保险的财税法规制%Analysis of Legal Regulating on the Fiscal Participation in the Policy-oriented Agricultural Insurance

    Institute of Scientific and Technical Information of China (English)

    张长利

    2009-01-01

    政策性农业保险属于准公共物品,需要财政参与.财政参与政策性农业保险的法律方式多种多样,需要法律加以规范.财政参与政策性农业保险离不开财政的平衡、稳固和强大及财政的规范化、法治化.我国需要进一步建立和完善财政法制度,包括尽快制定政策性农业保险法,其中应明确规定相关的财政法规范;制定、、和;修改和完善及有关的税法行政法规.%It is reasonable for fiscal departments to participate in the policy-oriented agricultural insurance since the agricultural insurance is quasi- public goods.This participation needs legitimacy.The fiscal law systems of China need to be established and improved.We should establish laws to regulate agricultural insurance and transfer payment.The Law of Prevention from Fiscal Crisis and the Law of Governing the Allocation of Government Revenues and Expenditures need to be established.General Principles of the Taxation Law needs to be established.Budget Law and taxation regulations need to be revised and improved.

  10. Macroeconomic Synchronization and Policy Coordination After Regional Economic Integration in the Americas El impacto de la integración económica regional en la sincronización macroeconómica y la coordinación de políticas L’impact de l’intégration économique régionale sur la synchronisation macroéconomique et la coordination des politiques

    Directory of Open Access Journals (Sweden)

    Helen Chang

    2011-08-01

    Full Text Available In spite of many significant differences between high-income and developing country partners in the North American Free Trade Agreement (NAFTA, business cycle synchronization has followed increased trade integration in the post-NAFTA period. There is also some preliminary support for some convergence between Dominican Republic-Central American Free Trade Agreement (CAFTA-DR economies post-CAFTA-DR, although it is too soon to reach any significant conclusions. Macroeconomic synchronization has important implications for policy making because it indicates the need for and benefits from policy coordination. Policy coordination with high-income partners may benefit developing country partners by reducing macroeconomic volatility and increase stability, when macroeconomic variability is due to common shocks and not country-specific shocks. Idiosyncratic volatility would require monetary and fiscal policy autonomy rather than coordination. Examining policy coordination between NAFTA states and between CAFTA-DR members, I find little evidence for policy coordination before and after implementation of the FTA. For the developing partners in NAFTA and CAFTA-DR, even as trade integration shrinks the available policy options for member states, the costs of losing policy autonomy largely outweigh the benefits of coordination because of the idiosyncratic macroeconomic variability of the developing partners.A pesar de las numerosas diferencias significativas que existen entre los países de renta alta y los países en desarrollo miembros del Tratado de Libre Comercio de América del Norte (TLCAN, la sincronización de los ciclos económicos ha seguido a una integración comercial en aumento desde la entrada en vigor del TLCAN. Asimismo, existen pruebas de que algunas economías del CAFTA-DR (Tratado de Libre Comercio entre República Dominicana, Centroamérica y Estados Unidos muestran también una cierta convergencia de los ciclos económicos pese a que es

  11. Uncertainty Effect of Fiscal Policy on Economic Fluctuations -Based on DSGE Model%财政政策对经济波动的不确定性影响效应--基于 DSGE 模型的分析

    Institute of Scientific and Technical Information of China (English)

    李玉双; 刘凤根

    2014-01-01

    According to actual economic condition in China, the paper expands Smets and Wouters (2003)'s model to analyse the effect of fiscal policy on economic fluctuations. The results show: first, non-productive fiscal expenditure on output does not always have positive effect, there will be negative effect as well. The reason is that an increase in non-productive fiscal expenditure is ultimately repaid by future tax increases or by reducing the future fiscal expenditure. These behaviors will inhibit economic growth. Second, consumption tax labor income tax and capital income tax, which does not always have a negative effect on output. The reason is that increasing tax will reduce the level of government debt, which can increase the future fiscal expenditure or reduce future tax, and these policies have expansionary effect on output.%依据中国实际经济情况,通过 Smets and Wouters (2003)模型进行拓展,构建了一个 DSGE 模型,探究了中国财政政策变化对经济波动的不确定性影响。研究结果显示财政政策对经济波动呈现出不确定性的影响:①非生产性财政支出对产出的影响并不是一直保持着正向影响,也会存在负向影响,原因在于,非生产性财政支出的增加最终是通过以后的税收增加来偿还的,或是通过减少以后的财政支出来偿还,而这些行为又都会抑制经济增长;②消费税、劳动收入税与资本收入税对产出的影响并不是一直都是负向。其原因在于:当前税收的增加会降低政府债务水平,从而可以增加未来的财政支出或是减少未来的税收,这些政策对产出都是具有扩张效应。

  12. ¿Puede una política fiscal contractiva ser expansiva? La efectividad de la política fiscal y la sostenibilidad de la deuda pública

    Directory of Open Access Journals (Sweden)

    Waldo Mendoza

    2007-12-01

    Full Text Available This paper presents a Keynesian effective demand model that reproduces expansive or contractive effects of an expansionary fiscal policy as a function of the initial conditions of the public finances.In an economy with fiscal slack, when observed primary surplus is above the optimal fiscal surplus level, expansive fiscal policy raises the level of economic activity.However, when there is no fiscal slackness, when the observed surplus is below the optimal surplus, a fiscal expansion may contract the level of economic activity.The outcome has implications for the debate about whether fiscal policy should be countercyclical or not. In the aforementioned scenery the countercyclical policy is appropriate only when there is fiscal slackness, but it is counterproductive, wouldaggravate the recession instead of ameliorating it, whenever at the initial point the observed fiscal surplus is below the optimal surplus level.

  13. Coordinates of a New Romanian Regional Policy - Identifying the Development Poles. A Case Study

    Directory of Open Access Journals (Sweden)

    Adriana DAVIDESCU

    2014-01-01

    Full Text Available The sustainable regional development is a crucial topic at the level of the EU nowadays. Therefore, the regional policies of the member states should be constructed in such a fashion, that they comply with the general European framework and maximize the potential of reaching the European goals. Following the general trend, Romania finds itself today in a complex project of rethinking its regional approach. The approach proposed in this paper will try, using statistical methods and aggregate data available in the Tempo database, to identify those counties that have the necessary characteristics in order to be taken in consideration when choosing the core county of each new region.

  14. 搭配型财政政策的宏观经济效应研究——基于中国月度数据的经验分析%On the Macroeconomic Effect of Composite Fiscal Policy --based on the Empirical Analysis of Monthly Data in China

    Institute of Scientific and Technical Information of China (English)

    程恋军; 仲维清

    2012-01-01

    In order to compare the effect of different fiscal policy on macroeconomic control, in this paper, we analyze the shock effect of 8 types of composite fiscal policy on main macroeconomic variables by using related monthly data from the perspective of fiscal policy research. It shows that as for the level of stimulating the output, the effect of both deficit financed tax cut fiscal policy and two-expansionary fiscal policy is the same, if the government want to adopt the balanced budget spending policy, the reverse direction balanced budget spending policy should be applied. Secondly, in comparison with the deficit financed tax cut fiscal policy, the two-expansionary fiscal policy has the most obvious effect on consumption; thirdly, the deficit financed tax cut fiscal policy and the two-expansionary fiscal policy play the same role in stimulating the investment, and the deficit spending fiscal policy will easily cause investment fluctuation fourthly, the balanced budget spend- ing policy can lead a rise in price level, while other fiscal policy will stabilize the price level.%为了比较不同的财政政策组合对宏观经济调控的效果,本文将政策搭配的思想放在财政政策研究的框架下,利用有关月度数据,模拟了8种财政政策组合对主要宏观经济变量的冲击效应。研究发现:从刺激产出的角度而言,赤字化减税政策和双松的财政政策工具的效果一样,如要运用平衡型预算的政策工具组合,应该采用逆向平衡型;双松的财政政策工具搭配对消费的挤入效应最大,赤字化减税政策对私人消费的挤入效应则很微弱;而对于投资来说,赤字化减税政策和双松的财政政策工具搭配的效果俱佳,而赤字化支出政策容易造成投资波动;正向平衡型预算政策工具会造成价格水平上升,而其他工具组合则会平抑物价。

  15. Transfer pricing. Fiscal and accounting treatments

    Directory of Open Access Journals (Sweden)

    Carmen Elena ANTON

    2015-12-01

    Full Text Available This paper presents brief assertions on the issue of the transfer pricing and their fiscal and accounting treatment. The concept refers to the transactions between affiliated parties, namely aims at those transactions that are not exclusively governed by the rules of the free market, also considering other influence factors such as: the policy of the group of entities related to the minimization of the fiscal cost at the group level. The aimed goals are both fiscal and accounting and they see to the thoroughgoing study of the issues of the implications of practicing transfer pricing between the affiliated entities.

  16. Environmental Policy Coordination in ASEAN: The Case of Waste From Electrical and Electronic Equipment

    Directory of Open Access Journals (Sweden)

    Armin Ibitz

    2012-01-01

    Full Text Available Among numerous environmental challenges in the ASEAN region, the rapid growth of volumes of waste from electrical and electronic equipment (e-waste has increasingly drawn international attention. Economies face huge demands for electrical and electronic products, while governments are confronted with difficulties dealing with mounting volumes of e-waste. Furthermore, lucrative transnational shipment of discarded electric and electronic devices calls for a regional response to the issue. While ASEAN has failed to come up with a common policy response, certain member states have pushed ahead with their own legislation in an attempt to address this urgent issue. This study sets out to identify the determining factors which have disabled ASEAN in terms of agreeing on a common policy response in the case of dealing with e-waste. Based on the assumption that states act according to expected gains, the study applies a game theoretical approach to analyse the developments. ----- Die Bewältigung der rasant anwachsenden Menge an Elektroschrott zählt zu den großen umweltpolitischen Herausforderungen der ASEAN-Staaten. Während sich die Volkswirtschaften einer immer größer werdenden Nachfrage nach elektrischen und elektronischen Geräten gegenübergestellt sehen, vermögen es die meisten Länder nicht adäquate Entsorgungswege für Altgeräte aufzubauen. Zusätzlich zur inländischen Produktion gilt es auch mit oftmals als Gebrauchtprodukt getarntem, importiertem Elektroschrott umzugehen. Eine dringend notwendige regionale Koordinierung wurde von ASEAN noch nicht in Angriff genommen. Diese Studie geht der Frage nach, warum auf Ebene von ASEAN keine Lösungsansätze zu dieser Problematik zu erwarten sind. Zur Analyse der Entwicklungen bedient sich die Arbeit eines spieltheoretischen Ansatzes.

  17. Creating sustainable fiscal space for infrastructure

    OpenAIRE

    Ter-Minassian, Teresa; Hughes, Richard; Hajdenberg, Alejandro

    2015-01-01

    A common dilemma facing governments around the world is how to meet the sizeable fiscal costs of providing and maintaining infrastructure networks. Over the past decade, developed and developing countries have looked to fiscal rules, budgetary reforms, tax policy and administration measures, public-private partnerships and other innovative financial instruments to raise additional finance for infrastructure investment. This paper looks at the range of options for raising the financing to meet...

  18. Health in All Policies: A cross-sectional study of the public health coordinators' role in Norwegian municipalities.

    Science.gov (United States)

    Hagen, Susanne; Helgesen, Marit; Torp, Steffen; Fosse, Elisabeth

    2015-08-01

    The public health coordinator (PHC) is a municipal-government position in Norway whose role is to organise and oversee municipal policies and functions to support national public health goals. This cross-sectional study investigates conditions associated with use of PHCs by Norwegian municipalities in the period immediately before the new Public Health Act came into effect in 2012, decentralising responsibility for citizen health to the municipal level. This study provides descriptive baseline data regarding Norwegian municipalities' use of PHCs in this time - a marker for municipal engagement with inter-sectorial collaboration - before this policy was nationally mandated, and explores whether municipal characteristics such as structure, socio-economic status and extent of Health in All Policies (HiAP) implementation were associated factors. All Norway's municipalities (N=428) were included. We combined Norwegian register data with survey data. Descriptive analyses and bi- and multivariate logistic regression analyses were performed. A total of 76% of Norwegian municipalities employed a PHC in the period just before 2012. Of the PHCs employed, 22% were employed full time and 28% were located within the staff of the chief executive office. Our study indicates that partnership for health promotion with county councils (OR=7.78), development of a health overview (OR=3.53), collaboration with non-government sectors (OR=2.85) and low socio-economic status (OR=0.46) are significantly associated with Norwegian municipalities having a PHC. This study suggests that the municipality's implementation of HiAP, as well as lower socio-economic indicators, is associated with the use of PHCs in Norway, but not factors related to municipal structure. © 2015 the Nordic Societies of Public Health.

  19. 当前我国宏观经济形势与财横政策%The Macro-economic Situation and Fiscal & Tax Policy in China

    Institute of Scientific and Technical Information of China (English)

    闫坤; 于树一; 刘新波

    2012-01-01

    2011年,世界经济一方面处于经济增长、债务危机、通货膨胀、财政整顿共同编织的困局之中,一方面处于实体经济困顿和悲观预期两者相互作用形成的非良性循环之中。我国经济增长速度虽有所放缓,总体上仍保持着持续高增长的势头,内生动力依然强劲,城乡居民收入和消费结构均有所改善。但是,我国地方债务风险迅速累积,这一问题需引起高度关注。下一阶段的财税政策调整应从实体经济增长解困、经济增长信心提振、地方债务风险化解等方面入手。%The world economy in 2011 is in a dilemma intertwined by economic growth, debt crisis, inflation and financial consolidation together on the one hand, and in a non-smooth economic circulation formed by the interaction of struggling real economy with pessimistic business expectations on the other hand. Although China's economic growth rate is slowing down, the country's overall economy maintains the continuous and relatively-high growth momentum with a strong endogenous power, improving the urban-rural income and consumption structure. However, it is noticeable that the local government debt accumulated over the past few years is relatively heavy and some risks loom. Adjustments of the fiscal policy in the next stage should focus on solving the real economic difficulties, boosting economic growth, fostering confidence, and controlling the local government debt risk.

  20. 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.)

  1. Structural breaks and fiscal sustainability of the Indonesian government budget

    Directory of Open Access Journals (Sweden)

    Ivantia S. Mokoginta

    2015-04-01

    Full Text Available The purpose of this study is to identify government policy regimes or structural breaks as indicated by significant changes in debt to GDP ratio and to identify fiscal sustainability in Indonesia from 2000 to 2013. Using Fiscal Reaction Functions framework and Smooth Transition Regression, the study found two structural breaks following the three regimes. Foreign debt repayment dominates the government policy during Regime I. Fiscal consolidations and discipline such as reducing energy subsidies in 2002 and 2005, managing debt portfolio and increasing government revenues were dominant during Regime II. In Regime III, the government increases domestic debt, particularly to finance stimulus package. This study also found that the Indonesian fiscal is unsustainable during the period of study. Overall, the findings seem to suggest that managing government debt through fiscal consolidations, foreign debt repayment and debt portfolio management is not sufficient to achieve long-term fiscal sustainability.

  2. 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.

  3. THE IMPACT OF FISCALITY ON THE BEHAVIOUR OF TAXPAYER. ANALYSIS ON THE EXAMPLE OF ROMANIA

    Directory of Open Access Journals (Sweden)

    TUDOSE MIHAELA BRÎNDUȘA

    2015-07-01

    Full Text Available The structure and functioning of the tax system bears the imprint of fiscal policy promoted by the state in a certain period of time. The tax systems of the world countries can be classified into two patterns: antagonist and synergistic. The aim of the paper was to examine the behavioural coordinates of tax subjects in Romania having as a starting point the tensions between taxpayers on the one hand, and the tax system, on the other hand. The study reveals that while in Romania the tax elements pressed and are pressing overwhelmingly on taxpayers, their behaviour was shaped and folded on a negative pattern. This type of behaviour associated with the conduct of tax authority set on the distrust and anti-tax fraud virulent strategies generated a fiscal climate strained, antagonist.

  4. Debt and Fiscal Responsibility in a Federal Structure: The Case of Pakistan Nadia TAHIR, Pervez TAHIR

    Directory of Open Access Journals (Sweden)

    Nadia Tahir

    2012-12-01

    Full Text Available A recent amendment in Pakistan’s federal constitution allows provinces to borrow domestically and abroad. There is a concern that it may generate unsustainable debt burden, considering the country’s delinquent monetary policy and a historical deficit bias. The objective of this paper is to assess sustainability of public debt. First, we use Cecchetti, et al. (2010 methodology to regress public debt on indicators of fiscal stance i.e. primary deficit and structural deficit at federal level for the period 1976-2011. We conclude that fiscal stance remained opportunistically expansionary. Next, we look at debt sustainability and its implications for macroeconomic management at provincial level by separating the effects of growth and inflation on provincial public debt, interest payments, and primary balance by using the framework of Liu, et al. (2009. Our findings suggest declining debt sustainability at provincial level, which calls for a strong regulatory framework and coordination between federal and provincial debt strategies.

  5. On the relationship between fiscal plans in the European Union: an empirical analysis based on real-time data

    NARCIS (Netherlands)

    M. Giuliodori; R. Beetsma

    2008-01-01

    We investigate the interdependence of fiscal policies, and in particular deficits, in the European Union using an empirical analysis based on real-time fiscal data. There are many potential reasons why fiscal policies could be interdependent, such as direct externalities due to cross-border public i

  6. APPLYING FISCAL IMPULSE IN ROMANIA IN PERIOD 2002-2013: DECREASING FISCAL PRESSURE VERSUS RISING TRANSFER PAYMENTS

    Directory of Open Access Journals (Sweden)

    Antoniu PREDESCU

    2014-12-01

    Full Text Available The first goal of a market economy is to obtain and preserve, in long term, economic growth; for this goal, there are a number of tools – macroeconomic policies, there is: fiscal policy, monetary policy, budgetary policy, etc. – at disposal of policy makers, so as to make such a project come true. This is not so easy, however: all these tools must be carefully calibrated and carefully used. One of the most important policy is fiscal policy (which can be defined, in brief, as the sum of all measures, procedures, tools and policies a government uses so as to modify, to its liking, macroeconomic outcomes; an important tool, also, is monetary policy – which tinkers, so to speak, with money, in all its forms and shapes. This paper, however, it is not limited to simply assess, theoretically, best uses for fiscal policy; it aims to analyze, meaningfully, the effectiveness of fiscal policy in Romania, between years 2002 and 2013, in order, not only to state what did go wrong with it in that interval, but to establish best ways in which, in Romania, fiscal policy – and monetary policy – can be put to best use, inclusively in order to do what is to be done for achieving long-lasting economic growth in the future.

  7. Do attitudes, intentions and actions of school food coordinators regarding public organic food procurement policy improve the eating environment at school? Results from the iPOPY study.

    Science.gov (United States)

    He, Chen; Perez-Cueto, Federico J A; Mikkelsen, Bent E

    2014-06-01

    The present study investigates whether public organic food procurement policies have the potential to induce changes in the school food service environment. A comparative cross-national survey was conducted in public primary and/or secondary schools in Finland, Germany and Italy. The school food coordinators completed a web-based questionnaire on their attitudes, intentions and actions towards organic school food provision. In Germany, 122 out of 2050 schools in the state of Hesse responded. In Finland, 250 out of 998 schools across the country responded. In Italy, 215 out of 940 schools from eight provinces responded. School food coordinators in the sample of schools in the three countries. The German and Finnish school food coordinators separately most agreed with the promotion of healthy eating habits (P organic food (P food and nutrition policy (P food and nutrition policy in pedagogical activities (P = 0·004), to serve nutritional school meals (P organic schools were less likely to adopt a food and nutrition policy (P organic schools. The study suggests that there is a gap in the effects of public organic food procurement policy on building a healthier school food environment.

  8. Financial repression and fiscal policy

    NARCIS (Netherlands)

    Gupta, KL; Lensink, R

    1997-01-01

    This paper develops a simulation model to assess the consequences of government's trying to raise revenues through financial repression in developing countries. The measures of financial repression studied are (1) government borrowing from the banking sector to finance its budget deficit (2) governm

  9. Participation and coordination in Dutch health care policy-making. A network analysis of the system of intermediate organizations in Dutch health care.

    Science.gov (United States)

    Lamping, Antonie J; Raab, Jörg; Kenis, Patrick

    2013-06-01

    This study explores the system of intermediate organizations in Dutch health care as the crucial system to understand health care policy-making in the Netherlands. We argue that the Dutch health care system can be understood as a system consisting of distinct but inter-related policy domains. In this study, we analyze four such policy domains: Finances, quality of care, manpower planning and pharmaceuticals. With the help of network analytic techniques, we describe how this highly differentiated system of >200 intermediate organizations is structured and coordinated and what (policy) consequences can be observed with regard to its particular structure and coordination mechanisms. We further analyze the extent to which this system of intermediate organizations enables participation of stakeholders in policy-making using network visualization tools. The results indicate that coordination between the different policy domains within the health care sector takes place not as one would expect through governmental agencies, but through representative organizations such as the representative organizations of the (general) hospitals, the health care consumers and the employers' association. We further conclude that the system allows as well as denies a large number of potential participants access to the policy-making process. As a consequence, the representation of interests is not necessarily balanced, which in turn affects health care policy. We find that the interests of the Dutch health care consumers are well accommodated with the national umbrella organization NPCF in the lead. However, this is no safeguard for the overall community values of good health care since, for example, the interests of the public health sector are likely to be marginalized.

  10. Além da Estabilização: Desafios da Agenda Fiscal

    OpenAIRE

    Werneck, Rogério L. F.

    2005-01-01

    With the external accounts problems reasonably solved, Brazil’s economic policy agenda is bound to be increasingly focused on fiscal issues. What makes the design of economic policy especially complex in this area is the fact that there are several superimposed and potentially conflicting fiscal agendas. The main challenge of the country’s economic policy over the coming years will be to successfully conciliate the multiple fiscal agendas that will have to be faced, in order to remodel and to...

  11. Fiscal Deficit Will Be Cut Down RMB19.8 Billion This Year

    Institute of Scientific and Technical Information of China (English)

    2005-01-01

      When delivering the government work report on March5, Premier Wen Jiabao said,"China will carry out the stable fiscal policy this year and cut down the fiscal deficit accordingly, plan to arrange a central fiscal deficit of RMB300 billion,which is RMB19.8 billion less than last year."……

  12. Fiscal Deficit Will Be Cut Down RMB19.8 Billion This Year

    Institute of Scientific and Technical Information of China (English)

    2005-01-01

    @@ When delivering the government work report on March5, Premier Wen Jiabao said,"China will carry out the stable fiscal policy this year and cut down the fiscal deficit accordingly, plan to arrange a central fiscal deficit of RMB300 billion,which is RMB19.8 billion less than last year."

  13. 76 FR 375 - Notice of Availability: Notice of Funding Availability (NOFA) for Fiscal Year 2010; Historically...

    Science.gov (United States)

    2011-01-04

    ... second round of funding this Fiscal Year 2010. This NOFA is governed by the information and instructions found in HUD's Fiscal Year 2010 Notice of Funding Availability (NOFA) Policy Requirements and General... URBAN DEVELOPMENT Notice of Availability: Notice of Funding Availability (NOFA) for Fiscal Year 2010...

  14. 公共体育场馆体育消费财税激励的学理因由及推进策略%Academic Causes and Motivational Strategies to Encourage Fiscal Policy for Sports Consumption in Public Gyms

    Institute of Scientific and Technical Information of China (English)

    杨京钟; 郑志强

    2016-01-01

    为探究政府财税宏观调控政策对公共体育场馆体育消费经营主体和微观个体激励行为的影响,采用文献资料、访谈法、规范分析法等方法对政府财税政策支持公共体育场馆体育消费开展定性研究;运用公共财政理论、政府责任边界理论、激励理论等对财税经济政策与公共体育场馆体育消费关联性的学理因由进行具体阐释。研究认为:现行财税政策在税费负担、政策缺位、体制机制、政策执行等方面制约了公共体育场馆微观客体的体育消费行为。基于此,政府应以全面实施“营改增”税制改革为契机,降低公共体育场馆体育健身消费的经营成本与税收负担;构建分层次、差异化的体育消费财税激励机制和“政府引导、民间商业运营、社会民众参与”的公共体育场馆体育消费财税激励模式。研究旨在为激励我国公共体育场馆微观客体体育消费行为奠定理论基础,以期为更好地指导和促进公共体育场馆体育消费又好又快发展提供实践上的借鉴与参考。%In order to explore the influences of the governmental fiscal macro-control policies on business entities in public sports stadiums and sports consumption and on individual motivation behavior,this paper adopted literature study,inter-view,normative analysis and other methods to carry out qualitative study of fiscal and taxation policies to motivate sports consumption.Meanwhile,the public financial theory,the boundary of government’s responsibility boundary theory and incentive theory were used to explain the causes of the relevance of fiscal & economic policies and public sports consump-tion in sports stadiums.Research showed that the current fiscal and taxation policies had restricted the sports consump-tion in terms of tax burden,absence of policy,institutional mechanisms and policy implementation.Based on this,the government replaced business tax

  15. 我国民生财政的理解与政策趋势研究%On China's fiscal policy on people's livelihood and its trend

    Institute of Scientific and Technical Information of China (English)

    卢学英

    2011-01-01

    Among many newly-arising problems in the rapid development of Chinese society and its economy,people's livelihood is still a major concern.In order to solve the related problems in a new era,the government must seek to implement more effective policies to protect its people' livelihood.As we all know,the ultimate goal of a fiscal policy on people's livelihood is to care for and to improve people's welfare,so the study of fiscal policies on people's livelihood and its development trend can promote the institutional development of a harmonious society,help to maintain the social justice and offer people a better chance to share the fruits from the economic reforms.In this sense,the study holds a great value in theory and real practice.%在我国经济社会发展的新问题中,最突出的仍然是民生问题,它已经成为社会各界关注的焦点。解决新时期的民生问题必须要有行之有效的政策支持。民生财政的终极目标就是关注和改善民生,通过对民生财政的内涵和政策趋势进行研究,可以从制度上促进和谐社会建设,维护社会公平正义,使人民群众共享改革发展的成果,因而具有重要的理论和现实意义。

  16. The Effect and Evaluation of the Fiscal Policy since 2008%2008年以来积极财政政策效果评价及比较

    Institute of Scientific and Technical Information of China (English)

    李秀昆

    2012-01-01

    积极财政政策是现阶段我国政府宏观经济调控政策的主要内容,当前我国仍然面临着较为复杂的经济形势。为及时总结政府在宏观经济调控方面的经验,探索在目前的后危机时代如何进一步完善政府宏观调控体系,维护经济的平稳较快增长,本文对2008年以来的积极财政政策效果进行了分析与总结,并就共同点和不同点与1998-2003年积极财政政策进行了对比和评价,最后指出了存在的问题以及应对措施。%The positive financial policy is the main content of the macroscopical economy adjusting control,and our country still faces more complex economic situation at present.To sum up the experience of the government's macro-control,the paper analyzed and summarized the effect of active fiscal policy since 2008,And this paper comprised the common and different points with 1998-2003 active fiscal policies,so that we could explore how to further perfect the government's macro-control in the post-crisis era.At last,the author pointed out the existing problems and countermeasures.

  17. 两部门内生增长模型中财政政策的短期分析%SHORT-RUN ANALYSIS OF FISCAL POLICY IN A TWO-SECTOR ENDOGENOUS GROWTH MODEL WITH HUMAN CAPITAL ACCUMULATION

    Institute of Scientific and Technical Information of China (English)

    崔小勇; 龚六堂

    2011-01-01

    在一个两部门内生增长模型中,讨论政府财政政策变化对居民消费,资本积累以及经济增长的长期影响和短期影响.发现在短期内,政府增加资本收入税不仅可以增加居民消费,而且可以刺激人力资本积累,从而刺激短期经济增长.但是政府财政政策改变对长期经济增长不产生影响,而且资本收入税会降低长期的消费水平和资本存量.另外,从经济增长形态和消费者福利两个角度讨论了资本收入税的无效性.%In a two-sector endogenous growth model, this paper studies the long-run and short-run effects of fiscal policy on private consumption, capital accumulation, and economic growth. It is found that: The increase in the capital income tax not only increases private consumption, but also increases the human capital accumulation, and in turn increases economic growth. However, government policy has no long-run effect on the economic growth, and the increasing of capital income tax rate will decrease the long-run consumption and physical capital accumulation. The welfare effects of fiscal policy is investigated too.

  18. WOULD ECONOMIC RECOVERY IMPLY FISCAL STABILIZATION IN SERBIA?

    OpenAIRE

    2013-01-01

    For many years Serbia has been running fiscal deficit, which has considerably increased since 2008, leading to rise in public debt from 29.2% of GDP in 2008 to 60.3% of GDP in the end of 2012. This paper is aimed at resolving the dilemma if the economic recovery would be sufficient to reduce large fiscal deficit in Serbia or additional fiscal consolidation me asures have to be implemented. Since the actual fiscal deficit is the re sult of macroeconomic trends and policies, in order to answer ...

  19. Primary surplus and debt projections based on estimated fiscal reaction functions for euro area countries

    OpenAIRE

    2014-01-01

    We project the path of the public debt and primary surpluses for a number of countries in the euro area under a fiscal rule based on a set of estimated fiscal policy reaction functions. Our fiscal rule represents a fiscal analogue to a well-known monetary policy rule, and it is calibrated using country-specific as well as euro area-wide parameter estimates. We then forecast the dynamics of the fiscal aggregates under different convergence, growth, and interest rate scenarios and investigate t...

  20. Primary balance and debt projections based on estimated fiscal reaction functions for euro area countries

    OpenAIRE

    2014-01-01

    We project the path of the public debt and primary balances for a number of countries in the euro area under a fiscal rule based on a set of estimated fiscal policy reaction functions. Our fiscal rule represents a fiscal analogue to a well-known monetary policy rule, and it is calibrated using country-specific as well as euro area-wide parameter estimates. We then forecast the dynamics of the fiscal aggregates under different convergence, growth, and interest rate scenarios and investigate th...

  1. Fiscal Policy and Rebalancing in the Euro Area: A Critique of the German Debt Brake from a Post-Keynesian Perspective

    OpenAIRE

    Hein Eckhard; Truger Achim

    2014-01-01

    The German debt brake is often regarded as a great success story and has therefore served as a role model for the Euro area and it’s Fiscal Compact. In this paper we fundamentally criticise the debt brake. Firstly, we show that it suffers from serious shortcomings and that its success is far from certain even from a mainstream point of view. Secondly, we show that, from a Post-Keynesian perspective, the debt brake completely neglects the requirements for fi...

  2. 地方政府对非公经济的土地、财政与产业政策%The Land, Fiscal and Industrial Policies of Local Governments to Support Private Sectors

    Institute of Scientific and Technical Information of China (English)

    沈尤佳

    2012-01-01

    How do local governments treat private sectors in policy making? There exist two different viewpoints. Some argue that the private sectors suffer discrimination because of its ownership ; however, others argue that the private sectors, transnational capitals and local private capitals included, enjoy advantages because of frog hair. This paper examines the fiscal, land and industrial policies of local governments by empirical material and statistic data to evaluate the policy environment of private sectors and the impact of such policies on long-run economic growth.%关于地方政府对非公经济的政策态度,国内学术界存在不同的观点:一类观点认为政策对非公经济存在所有制歧视;另一类观点认为包括跨国资本与民间资本在内的非公经济拥有游说地方政府制定和执行对其有利的政策的能力。作者通过经验材料和统计数据研究地方政府对非公经济的财政政策、土地政策与产业政策,评估非公经济的政策环境及对长期经济增长的影响。

  3. 递归效用、生产性政府支出与最优财政政策%RECURSIVE UTILITY,PRODUCTIVE GOVERNMENT EXPENDITURE AND OPTIMAL FISCAL POLICY

    Institute of Scientific and Technical Information of China (English)

    王海军; 胡适耕; 张学清

    2005-01-01

    This paper employs a stochastic endogenous growth model extended to the case of a recursive utility function which can disentangle intertemporal substitution from risk aversion to analyze productive government expenditure and optimal fiscal policy,particularly stresses the importance of factor income. First,the explicit solutions of the central planner's stochastic optimization problem are derived,the growth-maximizing and welfare-maximizing government expenditure policies are obtained and their standing in conflict or coincidence depends upon intertemporal substitution. Second,the explicit solutions of the representative individual's stochastic optimization problem which permits to tax on capital income and labor income separately are derived,and it is found that the effect of risk on growth crucially depends on the degree of risk aversion,the intertemporal elasticity of substitution and the capital income share. Finally, a flexible optimal tax policy which can be internally adjusted to a certain extent is derived,and it is found that the distribution of factor income plays an important role in designing the optimal tax policy.

  4. 75 FR 20618 - Interagency Coordinating Committee on Oil Pollution Research (ICCOPR); Public Meeting

    Science.gov (United States)

    2010-04-20

    ... the Technology Plan during the next two fiscal years. Tentative Meeting Agenda The agenda for the May... Coordinating Committee on Oil Pollution Research Biennial Report for Fiscal Years 2008 and 2009, which will...

  5. Macroeconomic Regulation and Control by Using a Combination of Fiscal Policy, Monetary Policy, and Industrial Policy--A Discussion On Chinese Economic Macroeconomic Regulation and Control Mode after Asia Financial Crisis%财政、货币、产业三大政策并用的宏观调控——亚洲金融危机以来中国经济宏观调控模式探讨

    Institute of Scientific and Technical Information of China (English)

    赵英; 倪月菊

    2012-01-01

    Since 1990s, industrial policy has become an important means of macroeconomic regulation and control, along with fiscal policy and monetary policy, for the government to stimulate economic growth. Fiscal policy, monetary policy, and industrial policy, the combination of the three big policies has been an important feature of Chinese government' s economic management for further economic development. Since Asian financial crisis, fiscal policy, monetary policy, and industrial policy have been used by the Chinese government to confront the impact of economic crisis and formulate economic regulations, they have been important features of Chinese government in regulating the country' s macro economy; industrial policy is changing into a policy tool to confront excessive economic fluctuation in short term and regulate economic cycle from a policy tool that adjusts middle and long term economic structure and industrial structure; though industrial policy is widely used to manage economic growth structure and level, to confront economic crises it can also stimulate the economic demands like the fiscal and monetary policy do, this is not the key points and objectives of industrial policy in normal sense; industrial policy, as a policy that curbs economic crisis and stimulates economic growth, its key goals are infrastructure region and strategic industries, while it stimulates the aggregate demand, it takes into account the future industry development, as well as enhancement of international competition capability. An economic macro regulation mode that combines industrial policy, fiscal policy and monetary policy will favor selective regulation and control during peak and bottom point of an economic cycle. For different industries, use different industrial policies, to avoid the dominance of planning and administrative means which existed for middle and long term regulation under the planned economy system, like "cut everything with one knife ", which the root

  6. Fiscal transparency, political parties, and debt in OECD countries

    DEFF Research Database (Denmark)

    Alt, James E.; Lassen, David Dreyer

    2006-01-01

    Many believe and argue that fiscal, or budgetary, transparency has large, positive effects on fiscal performance. However, the evidence linking transparency and fiscal policy outcomes is less compelling. To analyze the effects of fiscal transparency on public debt accumulation, we present a career...... (at least for strategic reasons) tend to have higher deficits than left-wing governments, and that increasing political polarization increases debt accumulation. To test the predictions of the model, we construct a replicable index of fiscal transparency on 19-country OECD data. Simultaneous estimates...... of debt and transparency strongly confirm that a higher degree of fiscal transparency is associated with lower public debt and deficits, independent of controls for explanatory variables from other approaches...

  7. AN OVERVIEW OF FISCAL CONSOLIDATION PROCESS IN THE EUROPEAN UNION

    Directory of Open Access Journals (Sweden)

    Iulia Andreea Bucur

    2014-12-01

    Full Text Available This paper aims to explore, based on theoretical and empirical research in the field and on data available on Eurostat and European Commission, in the context of financial significant imbalances and thus of the financial stress in the EU countries and especially in the Euro area, the main developments in the fiscal consolidation process given the fiscal effort of each country towards fiscal union. Since the financial crisis started in 2008, many EU Member States demonstrates an obvious macroeconomic imbalance which requires increased responsibility regarding fiscal developments. The impact of the crisis and the causes of sovereign debt high levels trends varied between EU countries as well as the budget deficit levels. Thus, the main priority for EU members must be the continuation of differentiated fiscal consolidation, given the specificities of each economy, favoring growth. The medium-term fiscal policy needs to focus on consolidating public finances along with restoring long-term sustainability.

  8. Fiscal Discipline in India

    Directory of Open Access Journals (Sweden)

    Sanhita SUCHARITA

    2011-07-01

    Full Text Available The present study broadly attempts to analyze the role of Fiscal Responsibility and Budget Management Act in restoring fiscal balance in India. It analyses the need for fiscal rules and constraints in India. The study aims at finding out the major factor behind rising fiscal imbalance in India and to examine whether there is an electoral motive towards high fiscal deficit to GDP ratio or not. It also analyzes the effectiveness of various measures undertaken at the central and state level to inculcate fiscal discipline in the fiscal management. The study also makes an attempt to do a critical in depth reviews of the Fiscal Responsibility and Budget Management Act and make an attempt at examining effectiveness and suitability of FRBM Act through a quantitative analysis. It also makes an attempt to suggest improvements in the fiscal monitoring mechanism in India. We employ Ordinary Least Square (OLS method to examine the impact of Fiscal Responsibility and Budget Management Act on fiscal deficit in India using the data for the period 1980-81 to 2008-09. The regression results indicates that FRBM Act does not have a significant effect on the Gross Fiscal Deficit (GFD to GDP ratio where as GDP (at factor cost growth rate has a significant negative effect on the GFD to GDP ratio.

  9. Globalization, Inequality, Say’s Law, and Fiscal Globalism

    National Research Council Canada - National Science Library

    Gerasimos T. Soldatos

    2017-01-01

    .... The mentality under which this tax policy paradigm is put forward is that the competition of nation states in a fiscal globalism fashion crystallizes the optimal level of centralization under globalism...

  10. 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.

  11. Fleet Compliance Annual Report: Model Year 2015, Fiscal Year 2016

    Energy Technology Data Exchange (ETDEWEB)

    None

    2016-12-01

    The U.S. Department of Energy (DOE) regulates covered state government and alternative fuel provider fleets, pursuant to the Energy Policy Act of 1992 (EPAct), as amended. This report details compliance for model year 2015, fiscal year 2016.

  12. Economic growth, income distribution and the choice of fiscal policy tools%经济增长、收入分配与财政政策工具选择

    Institute of Scientific and Technical Information of China (English)

    何宇杰; 朱斌

    2015-01-01

    To provide policy reference for the reform of income distribution system and fiscal and taxation system in the next step, based on the relevant theoretical research, this paper establishes econometric model to analyze empirically the mathematical relationship of the economic growth, income distribution, tax burden, tax structure, and fiscal expenditure for people, and it finds that in the long-term, it's positive relationship between economic growth of China and income distribution, while fiscal expenditure for people and adjustment of tax structure have negative influences on economic growth slightly but no negative impact on income distribution as the theory assumes. In the short term, economic growth and income distribution are both significantly influenced by themselves in the lag period, while fiscal expenditure for people and tax burden function negatively on economic growth slightly, and except for tax burden, all the others have different levels of negative impact on income distribution and in the mean time, fiscal policy instruments have a certain degree of interaction impact between each other.%为下一步收入分配制度、财税制度等经济制度改革提供政策参考,本文立足于相关理论研究成果,利用我国1985~2014年宏观经济数据,通过建立计量经济模型,对经济增长、收入分配、税收负担、税制结构、民生财政支出五者间的数量影响关系进行实证解析,结果发现:长期内,我国经济增长与收入分配不公平程度之间为正向的经济规律关系;民生财政支出、税制结构调整对经济增长存在弱抑制作用,对抑制收入分配不公却难以取得理论预期效果;短期内,经济增长、收入分配对自身的滞后期影响冲击较为显著;民生财政支出、税收负担对经济增长存在弱的负向冲击影响;除税收负担外,其余变量不同程度对收入分配不公产生负向冲击效应;各财政政策工具间存在一定程度的交互影响关系.

  13. Research on Fiscal Policy of the Equal Access to Basic Public Services between Urban and Rural Areas%城乡基本公共服务均等化的财政政策研究

    Institute of Scientific and Technical Information of China (English)

    李燕凌; 彭园媛

    2016-01-01

    Urban and rural areas “dual structure”interests curing of fiscal policy,makes large difference of regional urban and rural public services,and different parts of the urban and rural basic public services equalization degree also varies from place to place.Promote equal basic public services between urban and rural areas of fiscal policy,fundamental goal is to realize the public service of urban and rural development as a whole,is the main measure to speed up the ex-pansion of “agriculture,rural areas and farmers”by the national finance expenditure proportion, specific local governments bear the responsibility of the“three rural”spending,standard financial transfer payment,accelerate the new urbanization promoting the construction of urban and rural integration and synchronization.%城乡“二元结构”利益固化的财政政策,导致局部地区城乡公共服务差异大,且地区城乡基本公共服务均等化程度因地而异。推进城乡基本公共服务均等化的财政政策,根本目标在于实现公共服务城乡统筹发展,应加快扩大国家财政“三农”支出比重、明确地方财政承担“三农”支出的责任、规范财政转移支付、加快推进新型城镇化,并同步推进城乡一体化建设。

  14. The Fiscal and Taxation Policies to Promote the Development of Cultural Industry in Shaanxi%促进陕西文化产业发展的财税政策选择

    Institute of Scientific and Technical Information of China (English)

    娄爱花; 宁晓娜

    2014-01-01

    In Shaanxi, the cultural resources are incomparably rich. In recent years, under the highly attention of the Shaanxi Provincial Party Committee and the provincial government, the development of cultural industry has achieved gratifying results. But its de-velopment to the position on great province of cultural resources is still out of proportion. On the status of the development of cultural in-dustry and related fiscal and tax policy in the development of cultural industry, cultural industry development of Shaanxi province should be based on American and South Korea experience, develop the fiscal and tax policies for promoting cultural industry development.%陕西省的文化资源无比丰富。近年来,在省委、省政府的高度重视和努力下,陕西省的文化产业发展取得了不小的成就,但陕西文化产业的发展与其文化资源大省的地位还不是很相称。文化产业的发展现状和相关财税政策在文化产业发展方面存在的问题说明,陕西省文化产业发展应以美国和韩国经验为借鉴,制定出能够促进文化产业全面发展的财税政策。

  15. Recommendations to the Fiscal Policy of Sichuan Main Functional Areas%对四川省省级主体功能区财政政策的建议

    Institute of Scientific and Technical Information of China (English)

    匡恒

    2012-01-01

    推进形成主体功能区战略是全面贯彻落实科学发展观的重大举措,财政政策是主要的制度保障,建立与主体功能区建设相适应的财政管理体制难点在于完善省级主体功能区财政体制。本文以四川省为例,设计了省级主体功能区财政政策的框架,并且提出了均衡性转移支付、一般性转移支付、专项转移支付、税收返还制度进行公式化、标准化运作的方法。%It is one of the major initiatives to comprehensively implement the scientific concept of development by promoting the strategy for the formation of the main functional areas, and the fiscal policy is the key safeguard of the system ; however, success or failure to establish a financial management system compatible with the construction of the main functional areas lies in the construction of a perfect financial system at the provincial level. Taking Sichuan Province as an example, this article works out the fiscal policy framework of the main functional areas, and puts forward some standardized and formulized operation ways of the balanced transfer payments, general transfer payments, special transfer payments, and tax return system.

  16. Analysis of SMEs' Financing Difficulties from Perspective of Fiscal and Tax Policy%从财税政策角度分析中小企业融资难的问题

    Institute of Scientific and Technical Information of China (English)

    邓颖

    2013-01-01

    中小企业对国民经济和社会发展具有重要的战略意义。受金融危机影响,中小企业融资难严重制约其发展。目前,中小企业融资现状为企业税费负担加重、资金来源渠道狭窄、融资成本相对较高和信用担保体系不完善等。现行财政政策对中小企业融资主要存在财政扶持机制运作不畅、税收政策优惠力度不够、政府采购倾斜力度小及税收政策激励性不足等约束。有效解决中小企业融资难困境,政府应发挥采购的引导作用,加大财政扶持投入和结构性减税力度,完善担保机构风险补偿机制。%SMEs is strategically important to the national economy and social development. Under the circumstances of global finan-cial crisis, difficulties in financing constrain SMEs' growth. Currently China's SMEs face challenges like heavy corporate taxation, narrow financing channel, costly financing and imperfect credit guarantee system. At this moment, the defects of fiscal and taxation policy include not-well-run mechanism of the supporting policy system, and insufficient incentives of corporate taxes and government procurement. Governments at all levels shall increase fiscal input and tax deductions, improve risk compensation mechanism for credit guarantee institutions and make government procurement information publicly available to overcome the SMEs' financing diffi-culties .

  17. State Policy Leadership for the Future: History of State Coordination and Governance and Alternatives for the Future

    Science.gov (United States)

    McGuinness, Aims

    2016-01-01

    A decade ago, the National Center for Public Policy and Higher Education (the National Center) issued a policy brief, "State Capacity for Higher Education Policy." The National Center's core recommendation: States must have a broad-based, independent, credible public entity with a clear charge to increase the state's educational…

  18. Fiscal Capacity Equalisation in Tanzania

    NARCIS (Netherlands)

    Allers, Maarten A.; Ishemoi, Lewis J.

    2010-01-01

    Fiscal equalisation aims at enabling decentralised governments to supply similar services at similar tax rates. In order to equalise fiscal disparities, differences in both fiscal capacities and in fiscal needs have to be measured. This paper focuses on the measurement of fiscal capacity in a develo

  19. Fiscal Capacity Equalisation in Tanzania

    NARCIS (Netherlands)

    Allers, Maarten A.; Ishemoi, Lewis J.

    2010-01-01

    Fiscal equalisation aims at enabling decentralised governments to supply similar services at similar tax rates. In order to equalise fiscal disparities, differences in both fiscal capacities and in fiscal needs have to be measured. This paper focuses on the measurement of fiscal capacity in a develo

  20. The State Economic, Demographic & Fiscal Handbook 1993.

    Science.gov (United States)

    Baer, David; Cohen, Lee

    This handbook is an easy-to-use reference book for policymakers, public officials, and policy analysts, as well as anyone else who may need up-to-date information about state economic, demographic, and fiscal data. The book includes data on demographics, poverty rates, per capita state personal income, state and local tax rates, and state and…

  1. 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.

  2. 75 FR 61216 - Report on the Selection of Eligible Countries for Fiscal Year 2011

    Science.gov (United States)

    2010-10-04

    ... is evaluated by supplemental sources like Transparency International's Corruption Perceptions Index...). Control of Corruption: An index of surveys and expert assessments that rate countries on: ``Grand... Corruption Encouraging Economic Freedom Inflation Fiscal Policy Business Start-up Trade Policy Regulatory...

  3. Fiscal and Financial Stability in Romania - An Overview

    Directory of Open Access Journals (Sweden)

    Florin OPREA

    2013-10-01

    Full Text Available The recent financial crisis has seriously shaken economies around the world, and raised serious doubts about the long-term viability of the public policies to remedy market imperfections. The effect has been pronounced for Romania, a newly transitioned country with a fragile market economy due to political, economic and social consequents. This paper examines the correlation between fiscal policy and financial stability in Romania in the period from 1990 to 2011. Specifically, we analyze the country’s main monetary and fiscal policy decisions and their associations with macro-economic variables, highlighting the requirements for a sustainable macro-economic policy and whether such requirements have been met in Romania. Based on the results, we further outline recommendations to improve Romania’s public policy initiatives, considering the specific correlations between monetary and fiscal policies. The results for the period under study indicate that fiscal and monetary policies promoted in Romania have not been consistently harmonized, at times lacking necessary mutual support, or even generating conflicting outcomes favorable to the manifestation of fiscal and financial instability.

  4. Fiscal Competition and the Pattern of Public Spending

    OpenAIRE

    1996-01-01

    Much attention has been given to the impact of fiscal competition on the level of public expenditure, but relatively little to the impact on its composition. Using a broadly familiar and reasonably rich model of fiscal competition in the presence of mobile capital, this paper establishes a systematic bias in public spending patterns: starting from the non-cooperative equilibrium, and holding tax rates constant, welfare would be improved by a coordinated reduction in the provision of local pub...

  5. The fiscal gap: An estimate for Russia

    Directory of Open Access Journals (Sweden)

    Evgeny Goryunov

    2015-09-01

    Full Text Available The fiscal gap is an indicator of the long-term balance of public finance and is calculated based on the intertemporal government budget constraint, which links government tax revenues and expenditures over long intervals. The estimate of the fiscal gap for the Russian general government has been determined according to three scenarios with varying assumptions regarding demographic trends, productivity growth rates, oil and gas prices and the quantity of extractable reserves. The calculations show that the current fiscal policy cannot provide for the stability of public finance in the long run. The main factors of budget imbalances are the growth of pension and health care expenditures caused by demographic trends and the gradual decline in tax receipts from the oil and gas sector.

  6. Do Municipal Mergers Improve Fiscal Outcomes?

    DEFF Research Database (Denmark)

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

    2014-01-01

    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....... The 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...... of endogeneity problems and enabling causal inference. The analysis is based on administrative data from the Danish municipalities in the period 2003–11....

  7. 经济增长与收入不平等:财政均衡激励政策研究%Economic Growth and Income Inequality: Study on the Fiscal Policies of Balanced Incentive

    Institute of Scientific and Technical Information of China (English)

    米增渝; 刘霞辉; 刘穷志

    2012-01-01

    How to deal with relationship between the economic growth and income inequality correctly, which is one of the main challenges in China. The paper develops a dynamic relevant model which involves growth, inequality and fiscal policy theoretically, and its results show that the income inequality decreases and the economic growth increases when the rich undertake tax and the poor get subsidies more, and also reverse. Based on China' s Provincial Data from 1998 to 2006, we analyze the theoretical conclusions. We find that, the poor undertake tax more while the rich get subsidies more in China, the income inequality increases, the wage labour of capital get stuck, the economic growth decelerate growth, also growth and inequality are negative correlation. Therefore, our policy suggestions are further optimizing the progressive system of individual income tax, increasing fiscal transfer payment to the poor, and constructing the social justice environment.%如何处理好经济增长与收入不平等的关系,是中国经济社会发展面临的主要难题之一。本文构建了增长、不平等与财政政策之间的动态关联理论模型,结果显示:当税收多征于富人且穷人得到更多补贴的时候,收入不平等减少,增长上升;反之则相反。本文使用1998--2006年中国省级面板数据,对理论模型结论进行了实证分析,并有了新的发现:中国税收多征于穷人,富人得到了更多的补贴,收入不平等加剧,资本雇佣劳动遭遇困难,经济增长放缓,并且增长与不平等负向相关。文章提出了优化个人所得税累进制、加大对穷人的转移支付和建设社会公平环境的政策建议。

  8. Strategic responses to fiscal constraints: a health policy analysis of hospital-based ambulatory physical therapy services in the Greater Toronto Area (GTA).

    Science.gov (United States)

    Landry, Michel D; Verrier, Molly C; Williams, A Paul; Zakus, David; Deber, Raisa B

    2009-01-01

    Ambulatory physical therapy (PT) services in Canada are required to be insured under the Canada Health Act, but only if delivered within hospitals. The present study analyzed strategic responses used by hospitals in the Greater Toronto Area (GTA) to deliver PT services in an environment of fiscal constraint. Key informant interviews (n = 47) were conducted with participants from all hospitals located within the GTA. Two primary strategic responses were identified: (1) "load shedding" through the elimination or reduction of services, and (2) "privatization" through contracting out or creating internal for-profit subsidiary clinics. All hospitals reported reductions in service delivery between 1996 and 2003, and 15.0% (7/47 hospitals) fully eliminated ambulatory services. Although only one of 47 hospitals contracted out services, another 15.0% (7/47) reported that for-profit subsidiary clinics were created within the hospital in order to access other more profitable forms of quasi-public and private funding. Strategic restructuring of services, aimed primarily at cost containment, may have yielded short-term financial savings but has also created a ripple effect across the continuum of care. Moreover, the rise of for-profit subsidiary clinics operating within not-for-profit hospitals has emerged without much public debate and with little research to evaluate its impact.

  9. Fiscal decentralisation and infant mortality rate: the Colombian case.

    Science.gov (United States)

    Soto, Victoria Eugenia; Farfan, Maria Isabel; Lorant, Vincent

    2012-05-01

    There is a paucity of research analysing the influence of fiscal decentralisation on health outcomes. Colombia is an interesting case study, as health expenditure there has been decentralising since 1993, leading to an improvement in health care insurance. However, it is unclear whether fiscal decentralisation has improved population health. We assess the effect of fiscal decentralisation of health expenditure on infant mortality rates in Colombia. Infant mortality rates for 1080 municipalities over a 10-year period (1998-2007) were related to fiscal decentralisation by using an unbalanced fixed-effect regression model with robust errors. Fiscal decentralisation was measured as the locally controlled health expenditure as a proportion of total health expenditure. We also evaluated the effect of transfers from central government and municipal institutional capacity. In addition, we compared the effect of fiscal decentralisation at different levels of municipal poverty. Fiscal decentralisation decreased infant mortality rates (the elasticity was equal to -0.06). However, this effect was stronger in non-poor municipalities (-0.12) than poor ones (-0.081). We conclude that decentralising the fiscal allocation of responsibilities to municipalities decreased infant mortality rates. However, this improved health outcome effect depended greatly on the socio-economic conditions of the localities. The policy instrument used by the Health Minister to evaluate municipal institutional capacity in the health sector needs to be revised.

  10. Unsustainable Public Debt in a European Fiscal Union?

    Directory of Open Access Journals (Sweden)

    Gábor Kutasi

    2017-03-01

    Full Text Available Some EU members faced years of crisis in the first half of the 2010s with an excessive initial public debt, but several others had broad room for fiscal timulus. However, the prolonged duration of the European economic depression expended public budgets, while exhausting stimulus policies and sovereign solvency. Meanwhile, one of the ways out of depression is a proposed centralization of the EU through fiscal union. Are the eurozone countries readyto participate in a risk pool in public finances? The study seeks to answer this question. The article presents the hypothesis that the sustainability of public finances deteriorated during the global and euro crisis in the majority of the eurozone member countries and in the EU, and this phenomenon is discouragingthe core countries from seeking the fiscal union. The analysis uses the Blanchard indicators of fiscal sustainability and the sovereign risk rating of the EURO-18 and EU-28 countries. The analysis presents as results a theoretical summary of fiscal sustainability, the development of fiscal sustainability in the EU member states, indicators of convergence or divergence of fiscal sustainability in the Community, and conclusions based on the indicators of the likelihood of a fiscal union.

  11. The Open Methods of Coordination as Amplifier for EU Soft Law. The case of EU Youth Policy

    NARCIS (Netherlands)

    Copeland, P.; ter Haar, B.

    2015-01-01

    The legally non-binding nature of the EU’s Open Method of Coordination (OMC) has sparked a lively scholarly debate that includes, amongst other things, research about its function and effectiveness in conjunction with hard law and the integration capacity created by different governance structures (

  12. The Open Methods of Coordination as Amplifier for EU Soft Law. The case of EU Youth Policy

    NARCIS (Netherlands)

    Copeland, P.; ter Haar, B.

    2015-01-01

    The legally non-binding nature of the EU’s Open Method of Coordination (OMC) has sparked a lively scholarly debate that includes, amongst other things, research about its function and effectiveness in conjunction with hard law and the integration capacity created by different governance structures (

  13. State ICC Overview: Policies, Programs, and Practices of State Interagency Coordinating Councils under the Individuals with Disabilities Education Act.

    Science.gov (United States)

    Shackelford, Jo, Ed.

    This document presents general information about State Interagency Coordinating Councils (SICCs) which participate in the Early Intervention Program for Infants and Toddlers with Disabilities (formerly Part H Program, now Part C) under the Individuals with Disabilities Education Act (IDEA). The information was gathered from questionnaires returned…

  14. Romanian Policy-Mix to Adopting Euro

    Directory of Open Access Journals (Sweden)

    Cristian Socol

    2007-09-01

    Full Text Available This paper evaluates the present estate of Euro implementation in Monetary and EconomicUnion (EMU and Romanian position in this context. The Romanian admittance in EU at January 2007increased the interest to study the transmission and coordination mechanisms, related to mix commonmonetary policy – different fiscal policy across the countries in the Euro area. Our study focuses on theconsequences of Romanian admittance in Euro Zone in 2014 and optimal policy-mix to good preparationto accomplish this target. The controversies between economists regarding the construction processof EMU remain large. What are the consequences of implementing the “tye-hands” strategy for Romanianfinancial authorities? Can Romania solve the potential conflict between real and nominal convergencerelating the European integration? What is the best strategy for Romania with the aim to obtain afaster real convergence with the European Union countries? Can Romania maximize the benefits toadopting Euro in 2014?

  15. GETTING CLOSER TO EU STANDARDS - GEORGIA FISCAL GOVERNANCE ADJUSTMENT AND ITS IMPLICATIONS

    Directory of Open Access Journals (Sweden)

    David OBOLADZE

    2016-11-01

    Full Text Available This study focuses on fiscal governance from the perspective of developing the public finance management of Georgia. The paper investigates the fiscal governance framework in European Union countries and examines the impact of fiscal rules and budget procedures in EU countries. Well-designed fiscal frameworks are generally associated with better budgetary outcomes in terms of deficit and debt control. Following a thorough investigation of the current stance of fiscal governance in Georgia, the paper analyses the main medium and long term perspectives for Georgia to approximate with EU fiscal governance. The main objective of this paper is to provide policy guidelines needed for the appropriate and necessary reforms to ensure comprehensive, coherent and consistent fiscal governance framework for Georgia, which will improve the performance of public finance management and national economy of Georgia.

  16. Considerations on the Fiscal Consequences of Accounting Result

    Directory of Open Access Journals (Sweden)

    Petec ( Călinescu Daniela

    2016-01-01

    In terms of information provided by the accounting result, those are intended for a wide rangeof users among which shareholders, investors, financial creditors, the general public, whileinformation given by the fiscal result are mainly intended for the government and fiscalmanagement institutions. Both accounting result and fiscal result are determined based onrevenues and expenses recorded in the accounts, while respecting accounting policies andprinciples and tax laws.

  17. Army Hearing Program Status Report Quarter 1 Fiscal Year 2017

    Science.gov (United States)

    2017-03-27

    responses recorded from the first quarter of fiscal year 2017 (Q1 FY17). The report contains tables of the responses aggregated by region and by the...offices and the industrial hygiene department to help accomplish this mission. HPMs should develop clear policies for ensuring that all personnel...Occupational Health Objectives for Fiscal Year 2016, 21 October 2015. Memorandum, Office of the Surgeon General, subject: Public Health Management System

  18. APPLYING THE ARRANGEMENTS OF FISCAL CONSOLIDATION IN CRISIS

    OpenAIRE

    2015-01-01

    The issue of implementation of the areas of fiscal consolidation is particularly relevant in terms of the accumulation of public deficits and public debt in such amounts when the country is on the verge of insolvency. A clear policy to gradually reduce these deficits is necessary, since the budget deficit and quasi-fiscal deficits are rapidly increasing. This will help stabilizing public debt dynamics, and facilitating resolving the shortterm financial difficulties. The situation in Ukraine i...

  19. Creating Sustainable Fiscal Space for Infrastructure; The Case of Tanzania

    OpenAIRE

    Teresa Ter-Minassian; Richard Hughes; Alejandro Hajdenberg

    2008-01-01

    A common dilemma facing governments around the world is how to meet the sizeable fiscal costs of providing and maintaining infrastructure networks. Over the past decade, developed and developing countries have looked to fiscal rules, budgetary reforms, tax policy and administration measures, public-private partnerships and other innovative financial instruments to raise additional finance for infrastructure investment. This paper looks at the range of options for raising the financing to meet...

  20. Impact of Fiscal Variables on Economic Development of Pakistan

    Directory of Open Access Journals (Sweden)

    Zaheer Khan KAKAR

    2011-12-01

    Full Text Available The objective of this paper is to determine the impact of the fiscal variables on economic growth in Pakistan using time series data for the period 1980-2009. Cointegration and error correction techniques are used for this analysis and Granger causality test is used to determine the direction of causality. This study will provide help in determining the importance of fiscal policy for the development of Pakistan.