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Journal articles on the topic 'Fiscal constraint'

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Published: 4 June 2021

Last updated: 7 February 2022

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1

Iqbal, Zafar. "Constraints to the Economic Growth of Pakistan: A Three-gap Approach." Pakistan Development Review 34, no. 4III (1995): 1119–33. http://dx.doi.org/10.30541/v34i4iiipp.1119-1133.

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The development of the two-gap model [Chenery and Bruno (1962); Chenery and Strout (1966); Mckinnon (1964); and Weisskopf (1972)] was an important contribution to the literature of economic development. The two-gap model deals with the interactions between the savings constraint and the foreign exchange constraint in the determination of economic growth in an economy. The savings constraint refers to the situation when the growth of an economy is limited by the availability of domestic savings for investment, and the foreign exchange constraint refers to the growth of an economy being limited

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2

Bresser-Pereira, Luiz Carlos. "Financing COVID-19, Inflation and the Fiscal Constraint." Forum for Social Economics 49, no. 3 (2020): 241–56. http://dx.doi.org/10.1080/07360932.2020.1792176.

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3

BURDEKIN, RICHARD C. K., and LEROY O. LANEY. "Fiscal Policymaking and the Central Bank Institutional Constraint." Kyklos 41, no. 4 (1988): 647–62. http://dx.doi.org/10.1111/j.1467-6435.1988.tb02734.x.

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4

Nishimura, Kazuo, Thomas Seegmuller, and Alain Venditti. "Fiscal policy, debt constraint and expectations-driven volatility." Journal of Mathematical Economics 61 (December 2015): 305–16. http://dx.doi.org/10.1016/j.jmateco.2015.09.003.

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5

Grubišić Šeba, Mihaela, Dubravka Jurlina Alibegović, and Sunčana Slijepčević. "Combating fiscal constraints for PPP development." Managerial Finance 40, no. 11 (2014): 1112–30. http://dx.doi.org/10.1108/mf-07-2013-0176.

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Purpose – Public-private partnership (PPP) growth is often related to infrastructure development needs and public debt increase. Despite huge infrastructure (re)construction needs, the number of PPP projects in Croatia has been rather small so far. The purpose of this paper is to analyse the prospects for PPP projects development in Croatia in the near future. It is examined whether the stance of local authorities towards implementing PPP projects depends more on the necessity of developing infrastructure needs of local citizens or on the available funds for capital investments in local budget

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6

Flotho, Stefanie. "FISCAL MULTIPLIERS IN A MONETARY UNION UNDER THE ZERO–LOWER–BOUND CONSTRAINT." Macroeconomic Dynamics 19, no. 6 (2014): 1171–94. http://dx.doi.org/10.1017/s1365100513000783.

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This paper analyzes government spending multipliers in a two-country model of a monetary union with price stickiness and home bias in consumption where monetary policy is constrained by the zero lower bound (ZLB) on the nominal interest rate. Government spending multipliers under this constraint are computed and compared with fiscal multipliers in normal times, that is, where the central bank sets the nominal interest rate via a Taylor rule. The trade elasticity and the parameter measuring home bias in consumption play an important role in determining the size of the multiplier. The multiplier

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7

Schröder, Philipp J. H. "The fiscal constraint to restructuring firms in transition economies." Atlantic Economic Journal 28, no. 1 (2000): 37–47. http://dx.doi.org/10.1007/bf02300529.

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8

Kelton, Stephanie. "Limitations of the government budget constraint: Users vs. issuers of the currency." Panoeconomicus 58, no. 1 (2011): 57–66. http://dx.doi.org/10.2298/pan1101057k.

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The financial crisis and ensuing economic meltdown has led to sharp increases in the deficits and debt levels of many advanced economies. The run-up in public sector indebtedness helped to restore private sector balance sheets, laying the foundation for economic recovery in these regions. But the so-called ?sovereign? debt crisis in the Eurozone has undermined the fiscal resolve that has, thus far, kept truly sovereign governments from slipping into a bona fide depression. Fearful of becoming the next Greece, governments that could allow an unlimited fiscal adjustment to restore full employmen

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9

Kgakge-Tabengwa, Grace G. "Impact of Shocks to Public Debt and Government Expenditure on Human Capital and Growth in Developing Countries." Journal of Economics and Behavioral Studies 6, no. 1 (2014): 44–67. http://dx.doi.org/10.22610/jebs.v6i1.469.

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This paper examines the implications of shocks to public debt and government expenditure on the development of human capital and growth within a model that explicitly recognizes the role of fiscal constraints through introducing the government budget constraint for a set of selected developing countries 1 from 1980-2013. This is mainly to capture fiscal challenges facing developing countries in developing human capital which is fundamental for sustainable growth. The dynamics of our model results reveal that high stocks of public debt, beyond the 30-40% debt/GDP threshold, depress the effect o

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10

Clay, K. Chad, and Matthew R. Digiuseppe. "The Physical Consequences of Fiscal Flexibility: Sovereign Credit and Physical Integrity Rights." British Journal of Political Science 47, no. 4 (2016): 783–807. http://dx.doi.org/10.1017/s0007123415000502.

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Leaders are assumed to face fiscal constraints on their ability to remain in office by competitively distributing public and/or private goods. However, many leaders can relax this constraint by borrowing on sovereign credit markets. This article argues that states with the fiscal flexibility offered by favorable credit terms have the resources necessary to (1) respond to citizen demands with policies other than widespread repression and (2) avoid agency loss that may result in unauthorized repression by state agents. Empirical analyses indicate that creditworthy states have greater respect for

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11

Buera, Francisco J., and Juan Pablo Nicolini. "Liquidity Traps and Monetary Policy: Managing a Credit Crunch." American Economic Journal: Macroeconomics 12, no. 3 (2020): 110–38. http://dx.doi.org/10.1257/mac.20170040.

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We study a model with heterogeneous producers that face collateral and cash-in-advance constraints. A tightening of the collateral constraint results in a credit-crunch-generated recession that reproduces some features of the financial crisis that unraveled in 2007 in the United States. We use the model to study the effects, following a credit crunch, of alternative monetary and fiscal policies. (JEL E31, E44, E52, E62, G01, H63)

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12

Smith, Zachary A. "MANAGEMENT OPTIONS DURING PERIODS OF FISCAL CONSTRAINT: MOBILIZING INTEREST GROUPS." Review of Policy Research 7, no. 2 (1987): 404–10. http://dx.doi.org/10.1111/j.1541-1338.1987.tb00055.x.

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13

Kreiner, Claus Thustrup, David Dreyer Lassen, and Søren Leth-Petersen. "Liquidity Constraint Tightness and Consumer Responses to Fiscal Stimulus Policy." American Economic Journal: Economic Policy 11, no. 1 (2019): 351–79. http://dx.doi.org/10.1257/pol.20140313.

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The marginal interest rate is the price at which a household can access additional liquidity. Consumption theory posits that variation in marginal interest rates across consumers predicts differences in the propensity to spend a stimulus payment. This hypothesis is tested in the context of a Danish 2009 stimulus policy that transformed illiquid pension wealth into liquid wealth. Marginal interest rates are constructed from administrative records with account level information and merged with survey data measuring the spending response to the stimulus policy. The data reveal substantial variati

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14

Ahmed, Irfan, Claudio Socci, Francesca Severini, and Rosita Pretaroli. "Fiscal policy for households and public budget constraint in Italy." Economia Politica 36, no. 1 (2018): 19–35. http://dx.doi.org/10.1007/s40888-018-0114-6.

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15

Ahmad, Salman. "Impact of Foreign Aid on Fiscal Behaviour: A Case Study of Pakistan (1980-2000)." LAHORE JOURNAL OF ECONOMICS 7, no. 1 (2002): 117–24. http://dx.doi.org/10.35536/lje.2002.v7.i1.a7.

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Economists have been trying to study the linkages between aid inflow and government activities in developing countries. With the passage of time, the analysis has become more sophisticated. The development of two-gap models [for example, Chenery and Bruno(1962); and Chenery and Adelman(1966), among others] was an important contribution to the literature. More recently, two-gap models have been extended into threegap models. Iqbal (1995) added a fiscal constraint to the traditional saving and foreign exchange gap. In such cases, the fiscal constraint is intended to reflect potential limitations

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16

Beramendi, Pablo, and Daniel Stegmueller. "The Political Geography of the Eurocrisis." World Politics 72, no. 4 (2020): 639–78. http://dx.doi.org/10.1017/s0043887120000118.

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ABSTRACTThe European Union provided a mixed response to the 2008 financial crisis. On the one hand, it refused to pursue fiscal integration through a common budget; on the other, it introduced significant transfers between countries that were designed to produce financial stabilization. The authors analyze this response as the outcome of democratic constraints on EU leaders. Given the EU’s current institutional structure, citizens’ preferences pose a binding constraint on what leaders can do as these preferences limit the scope of risk-pooling among members and the degree of political toleranc

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17

Delmotte, Charles. "Tax Uniformity as a Requirement of Justice." Canadian Journal of Law & Jurisprudence 33, no. 1 (2020): 59–83. http://dx.doi.org/10.1017/cjlj.2019.30.

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Barbara Fried takes the view that uniform taxation—that is, a single rate applicable to all income levels—cannot be defended on any grounds of justice. She goes further by saying that, of all possible rate structures, it might be “the hardest one”? to ground in “a”? theory of fairness. Using the contractarian-constitutional perspective advanced by John Rawls and James Buchanan, this article argues that tax uniformity can be seen as a requirement of justice. After modelling how the political world realistically decides to distribute tax shares (self-interested parties act under a majority const

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18

Moore, Rachel, and Brandon Pecoraro. "Dynamic Scoring: An Assessment of Fiscal Closing Assumptions." Public Finance Review 48, no. 3 (2020): 340–53. http://dx.doi.org/10.1177/1091142120915759.

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Analysis of fiscal policy changes using general equilibrium models with forward-looking agents typically requires a counterfactual adjustment to some fiscal instrument in order to achieve the debt sustainability implied by the government’s intertemporal budget constraint. The choice of fiscal instrument can induce economic behavior unrelated to the policy change in models where Ricardian Equivalence does not hold. In this article, we use an overlapping generations framework to examine the effects of alternative fiscal closing assumptions on projected changes to economic aggregates following a

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19

Jesus, Diego Pitta de, Cássio da Nóbrega Besarria, and Sinézio Fernandes Maia. "The macroeconomic effects of monetary policy shocks under fiscal constrained." Journal of Economic Studies 47, no. 4 (2020): 805–25. http://dx.doi.org/10.1108/jes-01-2019-0011.

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PurposeThis paper aims to analyze the macroeconomic effects of a monetary policy shock considering that fiscal policy is under fiscal constraints. For that, a dynamic stochastic general equilibrium (DSGE) model was developed for Brazil, which was estimated through Bayesian econometrics.Design/methodology/approachIn the basic model, the government does not have any type of fiscal restriction. The other two estimated models, however, consider that the fiscal authority implements some kind of fiscal rule. One of these rules is the Constitutional Amendment 95/2016 (EA 95/2016), which includes a li

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20

Khalid, Mahmood, Wasim Shahid Malik, and Abdul Sattar. "The Fiscal Reaction Function and the Transmission Mechanism for Pakistan." Pakistan Development Review 46, no. 4II (2007): 435–47. http://dx.doi.org/10.30541/v46i4iipp.435-447.

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Modern macroeconomics literature emphasises both the short run and long run objectives of fiscal policy [Romer (2006)]. In the short run it can be used to counter output cyclicality and/or stabilise volatility in macro variables, which is descriptively same as of effects of the short run monetary policy. Further for the long-run, fiscal policy can also affect both the demand and supply side of the economy. But in most traditional analyses it is assumed that fiscal policy would adjust to ensure the intertemporal budget constraint to be satisfied, while monetary policy is free to adjust its inst

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21

Cogneau, Denis, Yannick Dupraz, and Sandrine Mesplé-Somps. "Fiscal Capacity and Dualism in Colonial States: The French Empire 1830–1962." Journal of Economic History 81, no. 2 (2021): 441–80. http://dx.doi.org/10.1017/s0022050721000140.

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What was the capacity of European colonial states? How fiscally extractive were they? What was their capacity to provide public goods and services? And did this change in the “developmentalist” era of colonialism? To answer these questions, we use archival sources to build a new dataset on colonial states of the second French colonial empire (1830–1962). French colonial states extracted a substantial amount of revenue, but they were under-administered because public expenditure entailed high wage costs. These costs remained a strong constraint in the “developmentalist” era of colonialism, desp

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22

Hall, Robert E. "Fiscal Stability of High-Debt Nations under Volatile Economic Conditions." German Economic Review 15, no. 1 (2014): 4–22. http://dx.doi.org/10.1111/geer.12025.

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Abstract Using a recursive empirical model of the real interest rate, GDP growth and the primary government deficit in the United States, I solve for the ergodic distribution of the debt/GDP ratio. If such a distribution exists, the government is satisfying its intertemporal budget constraint. One key finding is that historical fiscal policy would bring the current high-debt ratio back to its normal level of 0.35 over the coming decade. Forecasts of continuing increases in the ratio over the decade make the implicit assumption that fiscal policy has shifted dramatically. In the variant of the

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23

Aaskoven, Lasse. "Redistributing under fiscal constraint: partisanship, debt, inequality and labour market regulation." Journal of Public Policy 39, no. 3 (2018): 423–41. http://dx.doi.org/10.1017/s0143814x18000193.

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AbstractLabour market regulation varies significantly, both within and between developed democracies. While there has been extensive research and debate in economics on the consequences of labour market regulation, the political causes for levels and changes in labour market regulation have received less scholarly attention. This article investigates a political economy explanation for differences in labour market regulation building on a theoretical argument that labour regulation can be used as a nonfiscal redistribution tool. Consequently, partisanship, the demand for redistribution and gov

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24

Showstack, Randy. "Interior Secretary Highlights Key Trends, Including Climate Change and Fiscal Constraint." Eos, Transactions American Geophysical Union 95, no. 25 (2014): 209–10. http://dx.doi.org/10.1002/2014eo250002.

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25

Scott, Robert A., and Pamela M. Bischoff. "Preserving Student Affairs in Times of Fiscal Constraint: A Case History." Journal of Student Affairs Research and Practice 38, no. 1 (2000): 122–33. http://dx.doi.org/10.2202/1949-6605.1131.

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26

Hansen, Daniel. "The effectiveness of fiscal institutions: International financial flogging or domestic constraint?" European Journal of Political Economy 63 (June 2020): 101879. http://dx.doi.org/10.1016/j.ejpoleco.2020.101879.

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27

Pettersson-Lidbom, Per. "Dynamic Commitment and the Soft Budget Constraint: An Empirical Test." American Economic Journal: Economic Policy 2, no. 3 (2010): 154–79. http://dx.doi.org/10.1257/pol.2.3.154.

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This paper develops an empirical framework for the problem of soft budgets which is explicitly based on a dynamic commitment problem, i.e., the inability of a supporting organization to commit itself not to extend more resources ex post to a budget-constrained organization than it was prepared to provide ex ante. Swedish local governments are used as a testing ground since the central government distributed a large number of fiscal transfers. The estimated soft-budget effect is economically significant: on average, a local government increases its debt by more than 20 percent by going from a h

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28

Evans, George W., Seppo Honkapohja, and Ramon Marimon. "CONVERGENCE IN MONETARY INFLATION MODELS WITH HETEROGENEOUS LEARNING RULES." Macroeconomic Dynamics 5, no. 1 (2001): 1–31. http://dx.doi.org/10.1017/s1365100501018016.

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Inflation and the monetary financing of deficits are analyzed in a model in which the deficit is constrained to be less than a given fraction of a measure of aggregate market activity. Depending on parameter values, the model can have multiple steady states. Under adaptive learning with heterogeneous learning rules, there is convergence to a subset of these steady states. In some cases, a high-inflation constrained steady state will emerge. However, with a sufficiently tight fiscal constraint, the low-inflation steady state is globally stable. We provide experimental evidence in support of our

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29

Andric, Vladimir, Milojko Arsic, and Aleksandra Nojkovic. "Public debt sustainability in Serbia before and during the global financial crisis." Ekonomski anali 61, no. 210 (2016): 47–77. http://dx.doi.org/10.2298/eka1610047a.

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We have analyzed the behaviour of primary fiscal balance and public debt in Serbia before and in the aftermath of the global financial crisis. The results of our analysis are: i) public debt to GDP ratioexhibits (near) unit root behaviour with an overall upward time trend; ii) the response of primary fiscal balance to public debt has been insufficient to mean revert the upward trend in government debt; iii) the efforts of the Serbian government to repay the debt principal after the fiscal rule breach have not been persistent, providing empirical support to the fiscal fatigue hypothesis; iv) th

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Goryunov, E., L. Kotlikoff, and S. Sinelnikov-Murylev. "Fiscal Gap: an Estimate for Russia." Voprosy Ekonomiki, no. 7 (July 20, 2015): 5–25. http://dx.doi.org/10.32609/0042-8736-2015-7-5-25.

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Fiscal gap is an indicator of long run sustainability of government finance. It is derived from intertemporal budget constraint which connects flows of budget outlays and receipts aggregated along decades. In order to get an estimate of Russia’s general government fiscal gap we consider three scenarios which are based on different assumptions regarding demographic trends, productivity growth, extractable reserves of oil and natural gas, long-term price of oil and natural gas, etc. Estimated value of fiscal gap implies that current fiscal policy cannot provide budget sustainability in the long

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31

Arvate, Paulo Roberto, Marcos Mendes, and Alexandre Rocha. "Are voters fiscal conservatives? Evidence from Brazilian municipal elections." Estudos Econômicos (São Paulo) 40, no. 1 (2010): 67–101. http://dx.doi.org/10.1590/s0101-41612010000100003.

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Some papers in literature show that voters are fiscal conservatives, while others find evidence of a preference for fiscal profligacy. We use a traditional Probit model to analyze the preference of Brazilian municipal voters in the 2000 election. The main result suggests that voters prefer greater expenditure. We present evidence that this result is a consequence of a fiscal federalism model where there is a soft budget constraint for municipalities (institutional context). Moreover, we obtained evidence that voters with different levels of schooling impose a different result on expenditure. T

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32

Adeosun, Opeoluwa Adeniyi, Olumide Steven Ayodele, and Olajide Clement Jongbo. "Policy asymmetries and fiscal sustainability: evidence from Nigeria." African Journal of Economic and Management Studies 12, no. 2 (2021): 302–20. http://dx.doi.org/10.1108/ajems-08-2020-0389.

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PurposeThis study examines and compares different specifications of the fiscal policy rule in the fiscal sustainability analysis of Nigeria.Design/methodology/approachThis is methodologically achieved by estimating the baseline constant-parameter and Markov regime switching fiscal models. The asymmetric autoregressive distributed lag fiscal model is also employed to substantiate the differential responses of fiscal authorities to public debt.FindingsThe baseline constant-parameter fiscal model provides mixed results of sustainable and unsustainable fiscal policy. The inconclusiveness is adduce

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33

Arel-Bundock, Vincent. "The Unintended Consequences of Bilateralism: Treaty Shopping and International Tax Policy." International Organization 71, no. 2 (2017): 349–71. http://dx.doi.org/10.1017/s0020818317000108.

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AbstractThe international tax system is a complex regime composed of thousands of bilateral tax treaties. These agreements coordinate policies between countries to avoid double taxation and encourage international investment. I argue that by solving this coordination problem on a bilateral basis, states have inadvertently created opportunities for treaty shopping by multinationals. These opportunities, in turn, reduce the potency of fiscal policy, put pressure on governments to change their domestic tax laws, and ultimately constrain state autonomy. This constraint is theoretically distinct fr

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34

Akinkunmi, Mustapha A. "Dynamic Analysis of Structural Shifts of Fiscal Revenue in Nigeria, 1999-2016." International Journal of Economics and Finance 8, no. 11 (2016): 96. http://dx.doi.org/10.5539/ijef.v8n11p96.

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The oil sector that eased the financial constraint of Nigerian government in the 1970s is presently acting as the source of financial constraints to the country due to a continuous decline in government revenue, arising from the recent drastic fall in world crude oil prices. This calls for the government to diversify its revenue base through improving taxation. This study examined the influence of economic performance on the government revenue as well as the various sources of tax revenues in Nigeria. Monthly data spanning 1999 to 2016 were utilized to estimate vector error correction models (

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35

Khadan, Jeetendra. "Fiscal Sustainability in the Caribbean: An Econometric Analysis." Research in Applied Economics 11, no. 2 (2019): 1. http://dx.doi.org/10.5296/rae.v11i2.14697.

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Many countries in the Caribbean have been grappling with persistent fiscal imbalances and rising debt levels. The average debt to GDP ratio in the Caribbean in 2017 was 76.6 percent, higher than the negative debt-growth threshold of 60 percent of GDP. Also, the average fiscal deficit as a percent of GDP was 2.8 percent, but with significant heterogeneity across countries ranging from 0.5 percent to 11 percent. Using the inter-temporal budget constraint framework and various panel data econometric estimators, this article examines the issue of fiscal sustainability for a group of 10 Caribbean c

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36

Bianconi, Marcelo. "The effects of alternative fiscal policies on the intertemporal government budget constraint." International Review of Economics & Finance 9, no. 1 (2000): 31–52. http://dx.doi.org/10.1016/s1059-0560(99)00041-6.

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37

Cassee, Andreas. "International tax competition and justice: The case for global minimum tax rates." Politics, Philosophy & Economics 18, no. 3 (2019): 242–63. http://dx.doi.org/10.1177/1470594x19848074.

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International tax competition undermines states’ capacity for redistributive taxation. It is thus problematic from the point of view of both cosmopolitan and internationalist theories of justice. This article examines the proposal of a fiscal policy constraint that prohibits tax policies if they are strategically motivated and harmful to effective fiscal self-determination internationally. I argue that we should opt for a more robust, preference-independent mechanism to prevent harmful tax competition instead. States should, as a matter of justice, accept global minimum tax rates on mobile tax

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38

Duffy, David. "Tax Smoothing in the Presence of the Maastricht Constraint." Journal of Public Finance and Public Choice 25, no. 2 (2007): 129–50. http://dx.doi.org/10.1332/251569207x15664516861374.

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Abstract A sample of European Union countries are examined for evidence of tax smoothing over the period 1970-2005. Two testing procedures are applied to a single sample of countries to assess the consistency of evidence across testing methods. This study includes the application of a new data set to the tax smoothing question which provides an estimate of the temporary component of public expenditure. This study also argues that the application of the constraints imposed on fiscal policy in the Maastricht Treaty will affect the conduct of a tax smoothing policy. The effects of the Maastricht

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Yuandong, G., W. Tao, Y. Wen, and W. Xiaohua. "A spatial econometric study on effects of fiscal and financial supports for agriculture in China." Agricultural Economics (Zemědělská ekonomika) 59, No. 7 (2013): 315–32. http://dx.doi.org/10.17221/126/2012-agricecon.

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Since the reform and opening-up, the disparity between Chinese rural economy and the overall national economic development has already become the key constraint for further development of the national economy. In order to increase the farmers&rsquo; income and to promote rural economic development, the efforts of China&rsquo;s budgetary and financial policies to support agriculture have been strengthened year by year. However, it lacks an accurate and effective assessment to evaluate the effects of China&rsquo;s fiscal and financial policies supports for agriculture. This paper pro

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40

Alexandru, Dana Georgeta, and Beata Guziejewska. "Administrative Capacity as a Constraint to Fiscal Decentralization. The Case of Romania and Poland." Comparative Economic Research. Central and Eastern Europe 23, no. 1 (2020): 127–43. http://dx.doi.org/10.18778/1508-2008.23.08.

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This paper considers the problem of administrative capacity as one of the main requirements that the accession countries seeking EU membership had to meet, and as a prerequisite to the decentralization of their public sectors and public finances. The selected decentralization problems are analyzed using the cases of two countries: Romania and Poland. The results of a theoretical and practical evaluation of administrative capacity as a likely obstacle to fiscal decentralization are presented taking account of the different levels of decentralization in Poland and Romania. A comparative analysis

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41

Haveman, Robert. "Should Generational Accounts Replace Public Budgets and Deficits?" Journal of Economic Perspectives 8, no. 1 (1994): 95–111. http://dx.doi.org/10.1257/jep.8.1.95.

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The author assesses the concept of ‘generational accounts’ and the specific accounts constructed by Alan Auerbach, Jagadeesh Gokhale, and Laurence Kotlikoff (1991). Although these accounts support the assertion of present-orientation in fiscal policy, they rest on numerous assumptions based on judgments that are open to question. These involve the treatment of the public budget constraint, the benefits from public exhaustive expenditures, economic and population projections, the discount rate, and fiscal incidence. Alternative and equally reasonable assumptions could yield radically different

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42

Balla, Eliana, and Noel D. Johnson. "Fiscal Crisis and Institutional Change in the Ottoman Empire and France." Journal of Economic History 69, no. 3 (2009): 809–45. http://dx.doi.org/10.1017/s0022050709001132.

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Why is it that some countries adopted growth enhancing institutions earlier than others during the early modern period? We address this question through a comparative study of the evolution of French and Ottoman fiscal institutions. During the sixteenth century, both countries made extensive use of tax farming to collect revenue, however, uncertain property rights caused by fiscal pressure led to different paths of institutional change in each state. In France, tax collectors successfully overcame the collective action costs of imposing constraint on the king. In the Ottoman Empire, tax collec

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43

Gahvari, Firouz, and Seyed Mohammad Karimi. "Export constraint and domestic fiscal reform: Lessons from 2011 subsidy reform in Iran." Quarterly Review of Economics and Finance 60 (May 2016): 40–57. http://dx.doi.org/10.1016/j.qref.2015.09.003.

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44

Bishop, Elbert R., Christopher Wornum, and Martin Weiss. "Experience of Metropolitan Planning Organizations with Intermodal Surface Transportation Efficiency Act Financial Planning Requirements: Interviews and Analysis." Transportation Research Record: Journal of the Transportation Research Board 1606, no. 1 (1997): 1–8. http://dx.doi.org/10.3141/1606-01.

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The Intermodal Surface Transportation Efficiency Act of 1991 (ISTEA) requires metropolitan planning organizations (MPOs) to develop financially constrained metropolitan transportation plans and programs. FHWA officials believed that independent studies were needed if problems with the requirement were to be understood. A summary of findings of those studies along with an analysis by an FHWA official are presented. Financial planning requirements were found to be generally well received. Fiscal constraint requirements can be traumatic, but there is agreement that realistic programs are worth ha

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45

Atmore, Carol. "General practice evolution in New Zealand: hybridisation in action." Journal of Primary Health Care 9, no. 3 (2017): 220. http://dx.doi.org/10.1071/hc17043.

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ABSTRACT This viewpoint outlines a brief history of primary care health reforms over the last 25 years, and how this history has influenced the business of caring. It also suggests where we should next look to improve the provision of equitable patient-centred care in the current climate of fiscal constraint, while meeting the challenges of an ageing population and increasing multimorbidity.

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Vera, Leonardo V. "MACROECONOMIC ADJUSTMENT UNDER AN EXTERNAL AND FISCAL CONSTRAINT: A FIX-PRICE/FLEX-PRICE APPROACH." Metroeconomica 56, no. 1 (2005): 126–56. http://dx.doi.org/10.1111/j.1467-999x.2005.00210.x.

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Zhu, Xinhua, Yigang Wei, Yani Lai, Yan Li, Sujuan Zhong, and Chun Dai. "Empirical Analysis of the Driving Factors of China’s ‘Land Finance’ Mechanism Using Soft Budget Constraint Theory and the PLS-SEM Model." Sustainability 11, no. 3 (2019): 742. http://dx.doi.org/10.3390/su11030742.

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“Land finance” refers to the key fiscal strategy in which local governments in China generate revenue through land grant premiums and land tax revenues. A burgeoning body of literature has focused on the driving factors of China’s land finance from different aspects including fiscal decentralization, revenue decentralization, competition among local governments, land marketization, infrastructure development, and economic development. However, little research has provided a comprehensive perspective integrating social, economic and institutional aspects to investigate the driving forces of the

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Putra, Sofyan Eko. "OPTIMALISASI ZIS DAN PENGHAPUSAN PAJAK: SEBAGAI UPAYA PENINGKATAN KEMANDIRIAN EKONOMI MASYARARAT MISKIN DI ERA OTONOMI DAERAH." Jurnal Ekonomi Pembangunan: Kajian Masalah Ekonomi dan Pembangunan 8, no. 1 (2007): 96. http://dx.doi.org/10.23917/jep.v8i1.3940.

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Poorness represent the important problems faced by the Indonesian nation, various effort have been conducted by government, but pursued with the fundamental constraint development failure, till factors of moral hazard make the poverty problems always become the new problems.Zakah, infaq, and shadaqah (ZIS) representing the part of fiscal instrument of Islam, needed in overcome poverty, that is passing gift program special economic incentive (zakat), and extra incentive from infaq and shadaqah as capital of the poor deceiveness through the development in pattern of partner and financing.On the

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Javid, Attiya Y., Umaima Arif, and Abdul Sattar. "Testing the Fiscal Theory of Price Level in Case of Pakistan." Pakistan Development Review 47, no. 4II (2008): 763–78. http://dx.doi.org/10.30541/v47i4iipp.763-778.

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There are two competing views of the interaction between monetary and fiscal policy and their effects on price stability for policy-maker’s point of view. In the classical view, in Ricardian regimes it is the demand for liquidity and its evolution over time that determines prices. In such a regime fiscal policy is passive, which implies that government bonds are not net wealth [Barro (1974)], and monetary policy works through the interest rate or another instrument to determine prices. In the opposite view which is more recent, a non-Ricardian regime will prevail whenever fiscal policy becomes

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Bui, Duy-Tung. "Fiscal sustainability in developing Asia – new evidence from panel correlated common effect model." Journal of Asian Business and Economic Studies 27, no. 1 (2019): 66–80. http://dx.doi.org/10.1108/jabes-01-2019-0001.

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Purpose The purpose of this paper is to investigate the problem of fiscal sustainability for a panel of developing Asian economies. Design/methodology/approach In this study, cross-section dependence and heterogeneity are controlled while estimating the fiscal reaction function, which shows how governments react to the accumulation of public debt. The study employs the common correlated effects mean group estimator in Pesaran (2006) for a panel of 22 developing Asian economies for the period 1999‒2017. Findings It is found that the fiscal sustainability issue in the region is not so benign as

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