Relevant bibliographies by topics / Types of fiscal policy

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Academic literature on the topic 'Types of fiscal policy'

Author: Grafiati
Published: 28 May 2022
Last updated: 29 May 2022

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Journal articles on the topic "Types of fiscal policy"

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Auerbach, Alan J., William G. Gale, and Benjamin H. Harris. "Activist Fiscal Policy." Journal of Economic Perspectives 24, no. 4 (November 1, 2010): 141–64. http://dx.doi.org/10.1257/jep.24.4.141.

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During and after the “Great Recession” that began in December 2007 the U.S. federal government enacted several rounds of activist fiscal policy. In this paper, we review the recent evolution of thinking and evidence regarding the effectiveness of activist fiscal policy. Although fiscal interventions aimed at stimulating and stabilizing the economy have returned to common use, their efficacy remains controversial. We review the debate about the traditional types of fiscal policy interventions, such as broad-based tax cuts and spending increases, as well as more targeted policies. While there have been improvements in estimates of the effects of broad-based policies, much of what has been learned recently concerns how such multipliers might vary with respect to economic conditions, such as the credit market disruptions and very low interest rates that were central features of the Great Recession. The eclectic and innovative interventions by the Federal Reserve and other central banks during this period highlight the imprecise divisions between monetary and fiscal policy and the many channels through which fiscal policies can be implemented.
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Ajdar Ibrahimov, Ajdar Ibrahimov, and Elvin Alirzayev Elvin Alirzayev. "THEORETICAL ASPECTS OF FISCAL POLICY." PAHTEI-Procedings of Azerbaijan High Technical Educational Institutions 16, no. 05 (April 25, 2022): 05–15. http://dx.doi.org/10.36962/pahtei16052022-05.

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The article examines the concept of fiscal policy, reveals the essence of state regulation of socio-economic development as a process of including the state in the economic sphere of society through fiscal policy. The definitions of the types of fiscal policy are given. The article reveals the essence of state regulation of socio-economic development as a process of including the state in the economic sphere of society through fiscal policy. The approaches of state intervention in the economy in a historical perspective are considered. The definitions of the types of fiscal policy are given. It is concluded that state regulation of the economy can be successfully carried out only subject to a number of conditions, including the specifics of the basic principles, in combination with monetary policy. This work is devoted to the consideration of fiscal policy, which can be called one of the main levers of influence on the economy of the state. The problems of fiscal regulation, as a factor in the growth of economic efficiency, for most countries of the world, therefore, remain very relevant at the present stage of development of society. The main question is whether this policy will be carried out constructively or will it be unconscious and inconsistent. The object of the article is the fiscal policy of the state; the object of the study is the goals and mechanisms of the fiscal policy. The aim is to comprehensively consider the fiscal policy of the state as a method of state regulation of the economy, to determine its economic significance. Keywords: economic growth, fiscal policy, state regulation of the economy.
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Alesina, Alberto, Silvia Ardagna, Roberto Perotti, and Fabio Schiantarelli. "Fiscal Policy, Profits, and Investment." American Economic Review 92, no. 3 (May 1, 2002): 571–89. http://dx.doi.org/10.1257/00028280260136255.

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This paper evaluates the effects of fiscal policy on investment using a panel of OECD countries. We find a sizeable negative effect of public spending—and in particular of its wage component— on profits and on business investment. This result is consistent with different theoretical models in which government employment creates wage pressure for the private sector. Various types of taxes also have negative effects on profits, but, interestingly, the effects of government spending on investment are larger than those of taxes. Our results can explain the so-called “non-Keynesian” (i.e., expansionary) effects of fiscal adjustments.
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Abdulov, Damir. "EFFICIENCY OF THE STATE FISCAL POLICY." INNOVATIONS IN ECONOMY 3, no. 3 (March 30, 2020): 38–46. http://dx.doi.org/10.26739/2181-9491-2020-3-6.

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The article discusses the definition, goals and main types of fiscal policy. It also provides an analysis of the effectiveness of fiscal policy in Uzbekistan based on the Laffer curve of indicators of the level of tax burden and elasticity of the tax system.
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Gogas, Periklis, and Ioannis Pragidis. "Are there asymmetries in fiscal policy shocks?" Journal of Economic Studies 42, no. 2 (May 11, 2015): 303–21. http://dx.doi.org/10.1108/jes-04-2013-0059.

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Purpose – The purpose of this paper is to test the effects of unanticipated fiscal policy shocks on the growth rate and the cyclical component of real private output and reveal different types of asymmetries in fiscal policy implementation. Design/methodology/approach – The authors use two alternative vector autoregressive systems in order to construct the fiscal policy shocks: one with the simple sum monetary aggregate MZM and one with the alternative CFS Divisia MZM aggregate. From each one of these systems we extracted four types of shocks: a negative and a positive government spending shock and a negative and a positive government revenue shock. These eight different types of unanticipated fiscal shocks were used next to empirically examine their effects on the growth rate and cyclical component of real private GNP in two sets of regressions: one that assumes only contemporaneous effects of the shocks on output and one that is augmented with four lags of each fiscal shock. Findings – The authors come up with three key findings: first, all fiscal multipliers are below unity but with signs as predicted by Keynesian theory. Second, government expenditures have a larger impact as compared to the tax policy and finally, positive government spending shocks are more significant than negative spending shocks. All these results are in line with previous studies and are robust through many tests using structural identification proposed by Blanchard and Perotti (2002). Practical implications – The empirical findings in this manuscript can be used for conducting a more efficient fiscal policy. The importance of government spending shocks is empirically verified along with the asymmetries related to price stickiness predicted by Keynesian theory. According to the results an efficient fiscal policy would: in terms of an expansionary policy, use government spending as a means to stimulate the economy instead of tax cuts and in the case of a contractionary policy use government revenue (higher taxes) so that the costs of this policy in terms of output lost are lower. Originality/value – In this study the authors introduce three main innovations: first, to the best of our knowledge the Divisia monetary aggregates have not yet been used to previous research pertaining to fiscal policy. Second, following Cover’s (1992) procedure of identifying monetary policy shocks we extract the unanticipated fiscal policy shocks on government spending and revenue. Finally, the authors explicitly test for the asymmetric effects on the growth rate and the cyclical component of real private GNP of a contractionary and expansionary fiscal policy.
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Syka, MSc Xhenet, and Dr Sc Ilir Kaduku. "Correlation between Government and Economic Growth –Fiscal Policy during the Transition in Albania." ILIRIA International Review 3, no. 2 (December 31, 2013): 149. http://dx.doi.org/10.21113/iir.v3i2.121.

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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.
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Bhattarai, Saroj, Jae Won Lee, and Choongryul Yang. "Redistribution and the Monetary-Fiscal Policy Mix." Finance and Economics Discussion Series 2021, no. 013 (March 1, 2021): 1–47. http://dx.doi.org/10.17016/feds.2021.013.

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We show that the effectiveness of redistribution policy in stimulating the economy and improving welfare is directly tied to how much inflation it generates, which in turn hinges on monetary-fiscal adjustments that ultimately finance the transfers. We compare two distinct types of monetary-fiscal adjustments: In the monetary regime, the government eventually raises taxes to finance transfers, while in the fiscal regime, inflation rises, effectively imposing inflation taxes on public debt holders. We show analytically in a simple model how the fiscal regime generates larger and more persistent inflation than the monetary regime. In a quantitative application, we use a two-sector, two-agent New Keynesian model, situate the model economy in a COVID-19 recession, and quantify the effects of the transfer components of the Coronavirus Aid, Relief, and Economic Security (CARES) Act. We find that the transfer multipliers are significantly larger under the fiscal regime—which results in a milder contraction—than under the monetary regime, primarily because inflationary pressures of this regime counteract the deflationary forces during the recession. Moreover, redistribution produces a Pareto improvement under the fiscal regime.
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LUTSYK, Anatolii, and Nataliia SYNIUTKA. "TAX INSTRUMENT OF FISCAL POLICY UNDER CONDITIONS OF DIGITALIZATION OF FISCAL SPACE." WORLD OF FINANCE, no. 1(58) (2019): 87–97. http://dx.doi.org/10.35774/sf2019.01.087.

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Introduction. Nowadays information technologies and digital assets came into our lives, generating risks and potential threats to society. A structure of rational fiscal policy in such risks and threats is a key issue for the current policy of the country. Purpose. The purpose of the article is to study methodological approaches to understand the essence and nature of the taxation of individual incomes under the conditions of an innovative digital trend in society, which can be used to implement a fair fiscal policy in Ukraine. Methods. The author used scientific methods such as historical, abstraction, deduction, comparison, analysis, systematization and others. Results. It was established that digitalization processes, on the one hand, can stimulate avoidance and tax evasion, and, on the other hand, can increase the effectiveness of fiscal policy. Digital technologies weaken informational limitations in the implementation of tax control to identify the present economic results of taxpayers, and also allow to implement a complex tax system at lower costs. Conclusions. The fairness of taxation in digitalized fiscal policy and space should be based on ensuring a relatively equal environment for individuals as a result of the comprehensive taxation of various types of individual income - labor, capital and inheritance. Despite this, the use of an information resource in fiscal policy will help to achieve a balance between efficiency and fairness of taxation.
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Shi, Yu, Nisa Yazici Aydemir, and Yonghong Wu. "What Factors Drive Municipal Fiscal Policy Adoption?: An Empirical Investigation of Major Cities in the United States." State and Local Government Review 50, no. 3 (September 2018): 177–88. http://dx.doi.org/10.1177/0160323x18813418.

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Local policy makers operate within a confined decision-making environment and their policy-making capacities are limited by intergovernmental constraints, political culture, service demand, and economic and fiscal condition. This study investigates the effects of these factors on certain types of local fiscal policy adoption in the United States. Based on data from hundred major American cities, the result shows that a combination of state aid, state-imposed local tax and expenditure limits, fiscal decentralization, and tax authority has varied effects on the adoption of fiscal policies such as property tax increases, other tax increases, fees and user charge increases, and personnel cuts.
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Birimkulova, K. D., N. M. Dooronbekova, and S. Chorobekova. "PROBLEMS OF FISCAL POLICY MANAGEMENT IN A CRISIS ECONOMY." Herald of KSUCTA n a N Isanov, no. 4-2020 (December 23, 2020): 627–33. http://dx.doi.org/10.35803/1694-5298.2020.4.627-633.

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The article examines the problems of the fiscal system associated with uneven taxation of various industries and types of enterprises, as well as the possibility of effectively promoting the reform of tax administration in a market economy.
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Dissertations / Theses on the topic "Types of fiscal policy"

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Нужна, А. В. "Ефективність фіскальної політики України та механізм її реалізації в умовах трансформаційної економіки." Thesis, Видавництво СумДУ, 2011. http://essuir.sumdu.edu.ua/handle/123456789/12460.

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Фіскальна політика зумовлює використання можливостей уряду формувати податки і витрачати кошти державного бюджету для регулювання рівня ділової активності і розв'язання різноманітних соціальних проблем, тобто це система регулювання, пов'язана з урядовими видатками і податками. Основним важелем фіскальної політики держави є зміна структури податків і, насамперед зміна податкових ставок згідно з метою уряду. Проведення фіскальної політики - прерогатива законодавчих органів влади країни, оскільки якраз вони контролюють оподаткування і витрати коштів з нього. Фіскальна політика — це урядовий вплив на економіку через оподаткування, формування обсягу і структури державних витрат з метою забезпечення належного рівня зайнятості, запобігання й обмеження інфляції та згубного впливу циклічних коливань. Вона є головною складовою фінансової політики та дуже важливою ланкою економічної політики. Термін "фіскальна" походить від латинського «fiscua», що в перекладі означає "державна казна". При цитуванні документа, використовуйте посилання http://essuir.sumdu.edu.ua/handle/123456789/12460
Науковий керівник: Кобушко І.М.
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Симоненко, С. М. "Податкове регулювання економіки." Thesis, Видавництво СумДУ, 2011. http://essuir.sumdu.edu.ua/handle/123456789/12120.

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Forcades, Pujol Alejandro. "Essays on fiscal policy." Doctoral thesis, Universitat Autònoma de Barcelona, 2016. http://hdl.handle.net/10803/404256.

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Esta tesis doctoral desarrolla tres temas relacionados con la política fiscal en el campo de la macroeconomía. El primer artículo evalúa las implicaciones cuantitativas de la política fiscal óptima en un modelo con evasión fiscal. El resultado de Chamley-Judd de que el impuesto al capital en el largo plazo es cero no se cumple debido a la presencia conjunta de las evasiones fiscales del impuesto del consumo y trabajo, no incluso si expandimos el modelo introduciendo la evasión del impuesto del capital en economía cerrada. En contraste a Coleman (2000), encontramos que subsidiar el trabajo no es óptimo. En la parte cuantitativa, demostramos que el planificador Ramsey recorta los impuestos del trabajo, capital y consumo; que el impuesto sobre el consumo es considerablemente inferior al impuesto del trabajo; y que menores impuestos al trabajo y consumo reducen sus respectivos niveles de evasión fiscal. Además, las ganancias de bienestar asociadas con este experimento de política son substanciales. En el segundo artículo introducimos la evasión del impuesto al consumo a previos modelos macroeconómicos sobre economía sumergida. El modelo presentado en este artículo es el primero que trata conjuntamente las evasiones del impuesto al trabajo y al consumo. Introduciendo un shock TFP que afecta de la misma forma a los sectores declarado y no declarado, somos capaces de producir una evolución contracíclica de la evasión fiscal y mejoramos la bondad del modelo con respecto a los datos. También, exploramos las consecuencias de nuestro modelo para el sistema impositivo; concretamente, demostramos que puede ser inviable trasladar la carga fiscal de la imposición directa a la indirecta. Las curvas de Laffer son más planas que en el modelo sin evasión fiscal. Los límites impuestos por la evasión son más estrictos para el impuesto al consumo, para el cual la pendiente negativa de la curva de Laffer empieza aproximadamente en un tipo del 10%. Finalmente, el último artículo pretende estudiar cuáles habrían sido los efectos totales y heterogéneos de implementar los llamados Eurobonos en la crisis Europea de la deuda soberana (2009-12). Concretamente, nos centramos en la propuesta de Delpla y von Weizsäcker (2010). La Euro área es dividida en cuatro grupos de acuerdo a sus niveles de deuda pública y sus respectivos retornos de los bonos durante la crisis de la deuda soberana, y para cada grupo se desarrolla un modelo de economía pequeña y abierta sin (modelo de referencia) y con Eurobonos. Además, consideramos tres escenarios para los retornos de los Eurobonos: bajo, medio y alto. Los GIIPS (grupos I y II) son capaces de reducir el efecto desplazamiento sobre la inversión productiva, los impuestos y la deuda así como incrementar el PIB y el bienestar en todos los escenarios. El resto de países (grupos III y IV) pierden en términos de PIB, bienestar y deuda para los retornos medio y alto. En los bajos, todos los grupos están mejor. Por lo tanto, el mensaje clave es que los Eurobonos podrían ser una buena política para abordar periodos de primas de riesgo crecientes, pero su grado de éxito depende del nivel de compromiso.
This doctoral thesis develops three topics on fiscal policy in the field of macroeconomics. The first paper assesses the quantitative implications of optimal fiscal policy in a model with tax evasion. The Chamley-Judd result of a zero capital tax in the long run does not hold due to the presence of both labor income and consumption tax evasions, not even if we expand the model by introducing capital tax evasion in closed economy. In contrast to Coleman (2000), we find that subsidizing labor is not optimal. In the quantitative part, we show that the Ramsey planner cuts consumption, labor, and capital taxes; that the optimal tax rate on consumption is considerably lower than the optimal tax rate on labor income; and that lower taxes on labor and consumption reduce their respective levels of tax evasion. In addition, the welfare gains associated with this policy experiment are substantial. The second paper extends previous macroeconomic frameworks on shadow economy with consumption tax evasion. The model presented here is the first one to jointly tackle both labor income and consumption tax evasions. By introducing a TFP shock that affects equally both the declared and undeclared sectors, we are able to produce a countercyclical evolution of tax evasion and improve the fit of the model to the data. We also explore the consequences for taxation of our framework; specifically, we show that it may be unfeasible to implement tax shifts implying significant reductions of income tax in favor of higher excises on consumption. Laffer curves are flatter than in the model without tax evasion. The limits imposed by tax evasion are stricter for consumption tax, for which the slippery slope of the Laffer curve starts roughly at a mere rate of 10%. Finally, the last paper aims to study what would have been the overall and heterogeneous effects of implementing the so-called Eurobonds in the European sovereign debt crisis (2009-12). Specifically, we focus on the proposal by Delpla and von Weizsäcker (2010). The Euro area is divided in four groups according to their initial government debts and their respective bond yields during the sovereign debt crisis, and a small open economy model is set up for each one without (baseline model) and with Eurobonds. In addition, we consider three scenarios for Eurobond yields: low, medium, and high. GIIPS (groups I and II) are able to reduce the crowding-out effect on productive investment, taxes, and debt as well as increase GDP and welfare in all scenarios. The rest of countries (groups III and IV) lose in terms of GDP, welfare, and debt in the medium and high yields. In the low, all groups are better off. Therefore, the key message is that Eurobonds could be a good policy to address times of soaring sovereign spreads, but their degree of success depends on the level of commitment.
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Bermperoglou, Dimitrios. "Essays on fiscal policy." Doctoral thesis, Universitat Autònoma de Barcelona, 2014. http://hdl.handle.net/10803/310610.

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Esta tesis contribuye a tres cuestiones importantes relativas a la política fiscal y sus efectos a corto plazo sobre la economía real. El primer capítulo investiga cómo la riqueza de la vivienda y las restricciones colaterales contribuyen en forma conjunta a la transmisión no lineal de los shocks de política fiscal. Un modelo de equilibrio general dinámico y estocástico (DSGE) que asume inversión en vivienda y restricciones colaterales que ocasionalmente son válidas, revela un patrón no lineal de las respuestas a los shocks fiscales: los shocks positivos de consumo del gobierno son más expansivos en momentos que la riqueza inmobiliaria es relativamente alta y las restricciones colaterales son flojas, mientras que las reducciones de impuestos son más expansivas en momentos que la riqueza inmobiliaria es baja y las restricciones colaterales son válidas. La evidencia empírica, utilizando un modelo VAR no lineal, confirma las predicciones teóricas. En el segundo capítulo se comparan los efectos de los ajustes fiscales en los diferentes tipos de gastos del gobierno al producto nacional, el desempleo y el déficit en los EE.UU., Canadá, Japón y el Reino Unido. Los shocks del consumo público, la inversión pública, el empleo y los salarios públicos se identifican en un VAR estructural, utilizando restricciones de signo derivadas de un modelo DSGE que asume (i) fricciones en el mercado laboral del sector privado y público, (ii) participación laboral endógena y (iii) desempleados heterogéneos. Recortes de empleo del gobierno inducen a pérdidas más altas del producto nacional, a reducciones del déficit más pequeñas y a mayor desempleo en los EE.UU. y el Reino Unido. Por otra parte, los recortes salariales generan las menores pérdidas en el producto nacional y el desempleo, y las más altas ganancias en déficit que otros shocks. La última parte estudia los efectos de la política fiscal desagregada sobre la balanza comercial y el tipo de cambio real. Estimaciones de un VAR estructural revelan patrones distintos para todos los shocks. Los shocks positivos de consumo público e inversión pública inducen una caída del consumo privado, una depreciación real y una mejora de la balanza comercial de los EE.UU. Los shocks positivos de empleo público causan un aumento en el consumo privado, una depreciación real y una mejora de las exportaciones netas de los EE.UU. Por último, los shocks de los salarios públicos inducen una disminución del consumo privado, una apreciación real y un deterioro de la balanza comercial. Un modelo DSGE que asume fricciones en el mercado laboral y mercados financieros internacionales completos, puede replicar de forma satisfactoria las respuestas empíricas a los shocks de empleo y salario público. Sin embargo, una discrepancia surge con respecto a los shocks de consumo público e inversiones públicas: una caída del consumo privado, como respuesta a esos shocks, se acompaña de una depreciación real en la parte empírica, mientras que se acompaña de una apreciación real en teoría.
This thesis contributes to three important issues relating to fiscal policy and its short-run effects on the real economy. The first chapter investigates how housing wealth dynamics and collateral constraints jointly matter for the non-linear transmission of fiscal policy shocks. A dynamic stochastic general equilibrium (DSGE) model with housing investment and occasionally binding collateral constraints reveals a non-linear pattern of responses to fiscal shocks: positive government consumption shocks are more expansionary during times that housing wealth is relatively high and the collateral constraint is slack, while tax cuts are more expansionary during times that housing wealth is low and the collateral constraint binds. In the second chapter, we compare output, unemployment and deficit effects of fiscal adjustments in different types of government outlays in the US, Canada, Japan, and the UK. Shocks to government consumption, investment, employment and wages are identified in a structural VAR, using sign restrictions from a sticky price DSGE model with matching frictions in the private and public sector, endogenous labor participation and heterogeneous unemployed jobseekers. Government employment cuts induce the highest output losses, the smallest deficit reductions and significant unemployment increases in the US and the UK. On the other hand, wage cuts generate the lowest output and unemployment losses, and typically the highest deficit gains. The last part studies the effects of disaggregated fiscal policy on the trade balance and the real exchange rate. Structural VAR estimations reveal distinct patterns for all shocks. Government (non-wage) consumption and investment shocks induce a fall in private consumption, a real depreciation and an improvement of the US trade balance. Public employment shocks lead to an increase in private consumption, a real depreciation and an improvement of the US net exports. Finally, public wage shocks induce a decline in private consumption, a real appreciation and a deterioration of the trade balance. A two-country DSGE model with frictions in the labor market and complete international financial markets can replicate satisfactorily the empirical responses to government employment and wage shocks. However, a correlation puzzle emerges for public consumption and investment shocks: a fall in private consumption as a response to those shocks is accompanied by a real depreciation in the data, while it is accompanied by a real appreciation in theory.
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Watson, Ekin Elcin. "Essays on Fiscal Policy." Thesis, Boston College, 2017. http://hdl.handle.net/2345/bc-ir:107587.

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Thesis advisor: Peter Ireland
Thesis advisor: Fabio Ghironi
In this dissertation I study the impacts of fiscal policies in different monetary settings. In the first chapter, I empirically analyze the impact of fiscal policies on pairwise co-movements of business cycles in the European Monetary Union between the years of 1999 and 2016. In the second chapter, I develop a theoretical model which let me examine the impact of future fiscal consolidation around the zero lower bound interest rate. I explore welfare implications of the timing of future fiscal consolidation. In the first chapter, I empirically examine the impact of national fiscal policies on the bilateral synchronization of business cycles among the euro zone countries and discuss how this impact changes over time between 1999 and 2016. I find that divergences in fiscal balances significantly decrease the synchronization among EZ countries on average. However, this relation is not linear in time. In fact, in the last period when the fiscal austerity measures are adopted, bilateral BCS increases with an increase in differences in fiscal balance. I also discover that the impact of an expansionary fiscal policy (decreasing the surplus or increasing the deficit) on the BCS is greater if the country is running a surplus rather than a deficit. On the other hand, I observe that between 2013 and 2016 if a country with budget deficit performs an expansionary fiscal policy, this increases the BCS which implies that the expansionary fiscal policies in that period are likely countercyclical in nature to neutralize the impacts of asymmetric shocks in the EZ area. In the second chapter, I analyze the effects of different timing of fiscal consolidations under different fiscal policy rules in a New Keynesian framework with endogenously binding zero lower bound. I find that the anticipated future government spending cuts have amplifying effects on the current fiscal stimulus only if the cuts are enacted in a timely manner and government spending does not respond endogenously to the economy. Spending reversals in the very short-run are very costly, while consolidation in the medium-run reduces welfare costs. However, the precise optimal timing of consolidation varies with different fiscal policy rules. If the labor income tax rate is used to stabilize the economy in addition to spending adjustment, the economy is stimulated more compared to a lump-sum taxation rule and no fiscal rule cases. When the government spending responds to output and debt endogenously, the fiscal consolidation occurs endogenously. In this case, additional spending cuts depress the economy and the welfare gain of the cuts at the optimal timing is negligible
Thesis (PhD) — Boston College, 2017
Submitted to: Boston College. Graduate School of Arts and Sciences
Discipline: Economics
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Gómez-Oliveros, Leyre. "Essays on fiscal policy." Thesis, University of Essex, 2017. http://repository.essex.ac.uk/20525/.

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This thesis consists of three chapters. The first chapter makes use of a New-Keynesian framework to analyze the effects of introducing the public sector in a small open economy, for which a different degree of home-bias for the private and the public sector will be assumed. Once it has been proven that this introduction does not fundamentally vary the original results of the Galí-Monacellli (2005) model, a sensitivity analysis of the effects of such introduction will be made in a setting with different exchange-rate regimes and different degrees of openness. The second chapter develops a DSGE model which features incomplete asset markets, domestic debt denominated either in domestic or foreign currency, a risk premium on such debt and simple feedback rules. We find that in this setting a positive government spending shock leads to expansionary effects on output when exchange rates are allowed to adjust. This effect is reinforced by the real depreciation caused by such policy especially in the case in which debt is denominated in foreign currency. This is not the case under fixed exchange rates, then also under a peg effects are, as expected, quite similar under both currency denominations of debt. The third chapter was written together with Stefan Niemann and Paul Pichler. In it fiscal policy is introduced into a sovereign debt model with endogenous default costs to examine the implications for the determination of the output costs of default. We find that the quantitative properties of the output costs of default, and their dependence on primitives such as the elasticity of labor supply, are distinctly different depending on the margin of fiscal adjustment. The consideration of fiscal policy thus has potentially important implications for the quantitative properties of models of sovereign debt and default.
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Costa, Junior Celso José. "Essays on fiscal policy." reponame:Repositório Institucional da UFPR, 2014. http://hdl.handle.net/1884/36133.

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Orientador : Prof. Dr. Armando Vaz Sampaio
Tese (doutorado) - Universidade Federal do Paraná, Setor de Ciencias Sociais Aplicadas, Programa de Pós-Graduação em Desenvolvimento Ecônomico. Defesa : 02/06/2014
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Resumo: Há uma sensação generalizada na sociedade brasileira sobre a vulnerabilidade fiscal da economia do Brasil. Em vista disso, o objetivo deste trabalho é contribuir para a discussão sobre o papel da política fical como ferramenta de estímulo econômico. Para tanto, analisou-se algumas propostas de política fiscal para a economia brasileira, tanto do lado do gasto público, quanto do lado da desoneração tributária. Para tanto, foi desenvolvido um modelo DSGE Novo-keynesiano para uma economia pequena e fechada com seis choques fiscais: gasto corrente do governo; investimento público; transferência de renda às famílias; desoneração do imposto sobre o consumo; desoneração do imposto sobre a renda do trabalho; e desoneração do imposto sobre a renda do capital. Os parâmetros fiscais foram estimados usando a metodologia Bayesiana, enquanto os outros parâmetros foram calibrados. As políticas de desoneração tributária apresentaram melhores resultados do que as políticas de gasto público. Principalmente, a desoneração do tributo sobre a renda do trabalho. Entre as políticas de gasto, o investimento público foi o único choque que apresentou resultado positivo em relação ao PIB. Resumidamente, o resultado obtido é que políticas voltadas para o aumento da oferta agregada possuíram um resultado mais expressivo e sem pressionar a taxa de inflação.
Abstract: There is a widespread feeling in Brazilian society about the fiscal vulnerability of Brazil's economy. In view of this, the objective this work is to contribute to the discussion about the role of fiscal policy as economic stimulus tool. We discuss some proposals of fical policy for the Brazilian economy, both on the side of public spending and on the side of tax reduction. Thus, a New-Keynesian DSGE model for a small closed economy with six fiscal shocks (current government spending, public investment, income transfers to households, tax reduction on consumption, tax reduction on labor income and tax reduction on capital income) was developed. The fiscal parameters were estimated using the Bayesian methodology, while the other parameters were calibrated. The policies of tax reduction showed better results than the policies of public spending. Mostly, the tax reduction on labor income. Among policies spending, public investment was the only shock that showed positive results in relation to GDP. Briey, the result is that policies aimed at increasing aggregate supply had a more significant result, without to press the ination rate.
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Falconer, Jean. "Essays in Fiscal Policy." Thesis, University of Oregon, 2018. http://hdl.handle.net/1794/23774.

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The subject of this dissertation is fiscal policy in the United States. In recent years the limitations of monetary policy have become more evident, generating greater interest in the use of fiscal policy as a stabilization tool. Despite considerable advances in the fiscal policy literature, many important questions about the effects and implementation of such policy remain unresolved. This motivates the present work, which explores both topics in the chapters that follow. I begin in the second chapter by estimating Federal Reserve responses to changes in taxes and spending. Monetary responses are a critical determinant of fiscal policy effectiveness since central banks have the ability to offset many of the economic changes resulting from fiscal shocks. Using techniques commonly employed in the fiscal multiplier literature, my results indicate a willingness by monetary policymakers to alter policy directly in response to fiscal shocks in a way that either reinforces or counteracts the resulting effects. In the third and fourth chapters I shift my focus to the conduct of fiscal policy. Specifically, I use Bayesian methods to estimate the response of federal discretionary policy to different macroeconomic variables. I allow for uncertainty about various characteristics of the underlying model which enables me to determine, for example, which variables matter to policymakers; whether policy conduct has changed over time; and whether policy responses are state dependent. My results indicate, among other things, that policy responds countercyclically to changes in the labor market, but only during periods of weak economic activity.
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Jerow, Samuel B. "Fiscal Policy and Uncertainty." Miami University / OhioLINK, 2018. http://rave.ohiolink.edu/etdc/view?acc_num=miami1533112993662019.

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Arai, Real. "Fiscal Policy and Macroeconomics." Kyoto University, 2012. http://hdl.handle.net/2433/157496.

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Books on the topic "Types of fiscal policy"

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Mavrotas, George. Which types of aid have the most impact? Helsinki: United Nations University, World Institute for Development Economics Research, 2003.

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Catão, Luis. Persistent gaps, volatility types, and default traps. [Washington, D.C.]: Internaional Monetary Fund, Research Dept., 2007.

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Dean, James M. What type of financial institutions would be needed to incorporate the Northwest Territories into the Canadian federation?: Fiscal policies for the future. Lewiston: E. Mellen Press, 1996.

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Barrell, Ray. Fiscal solvency and fiscal policy. London: National Institute of Economic and Social Research, 1994.

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Khemani, Stuti. Populist fiscal policy. [Washington, D.C: World Bank, 2008.

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Ihori, Toshihiro, and Keigo Kameda. Procyclical Fiscal Policy. Singapore: Springer Singapore, 2018. http://dx.doi.org/10.1007/978-981-13-2995-1.

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J, Kotlikoff Laurence, ed. Dynamic fiscal policy. Cambridge [Cambridgeshire]: Cambridge University Press, 1987.

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Kopits, George. Fiscal policy rules. Washington, DC: International Monetary Fund, 1998.

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Kopits, George, and Steven Symansky. Fiscal Policy Rules. Washington, D.C.: International Monetary Fund, 1998. http://dx.doi.org/10.5089/9781557757043.084.

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Fiscal policy: An introduction. London: Routledge, 1992.

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Book chapters on the topic "Types of fiscal policy"

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Carlberg, Michael. "Fiscal Policy." In Monetary and Fiscal Dynamics, 123–36. Heidelberg: Physica-Verlag HD, 1992. http://dx.doi.org/10.1007/978-3-642-47689-1_24.

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Gottfries, Nils. "Fiscal Policy." In Macroeconomics, 288–319. London: Macmillan Education UK, 2013. http://dx.doi.org/10.1007/978-1-137-32180-0_11.

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Dullien, Sebastian, Neva Goodwin, Jonathan M. Harris, Julie A. Nelson, Brian Roach, and Mariano Torras. "Fiscal Policy." In Macroeconomics in Context, 324–53. New York, NY : Routledge, 2017.: Routledge, 2017. http://dx.doi.org/10.4324/9781315644653-13.

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Krugman, Paul, and Robin Wells. "Fiscal Policy." In Essentials of Economics, 576–608. New York: Macmillan Learning, 2017. http://dx.doi.org/10.1007/978-1-319-18664-7_17.

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Rush, Philip. "Fiscal Policy." In Real Market Economics, 61–77. London: Palgrave Macmillan UK, 2017. http://dx.doi.org/10.1057/978-1-349-95278-6_4.

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Seeley, Karl. "Fiscal Policy." In Studies in Ecological Economics, 239–44. Cham: Springer International Publishing, 2017. http://dx.doi.org/10.1007/978-3-319-51757-5_13.

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Evans-Pritchard, John. "Fiscal Policy." In Macroeconomics, 203–29. London: Palgrave Macmillan UK, 1985. http://dx.doi.org/10.1007/978-1-349-17926-8_10.

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Carlberg, Michael. "Fiscal Policy." In Monetary and Fiscal Strategies in the World Economy, 18–22. Berlin, Heidelberg: Springer Berlin Heidelberg, 2009. http://dx.doi.org/10.1007/978-3-642-10476-3_3.

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Carlberg, Michael. "Fiscal Policy." In Monetary and Fiscal Strategies in the World Economy, 35–40. Berlin, Heidelberg: Springer Berlin Heidelberg, 2009. http://dx.doi.org/10.1007/978-3-642-10476-3_6.

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Krugman, Paul, and Robin Wells. "»Fiscal Policy." In Economics, 693–720. London: Macmillan Education UK, 2006. http://dx.doi.org/10.1007/978-1-349-91968-0_30.

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Conference papers on the topic "Types of fiscal policy"

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Doneva, Yana. "REVIEW OF THE POSSIBILITY TO IMPLEMENT A TAX POLICY WITH A SPECIFIC FOCUS ON TOURISM." In TOURISM AND CONNECTIVITY 2020. University publishing house "Science and Economics", University of Economics - Varna, 2020. http://dx.doi.org/10.36997/tc2020.239.

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The fiscal policy is one of the instruments of the state, with the help of which it fulfills its main obligations to form and control the directions and rates of growth in tourism. The tourism industry is characterized by significant instability and is particularly sensitive to changes in economic conditions and taxation. The purpose of the report is not only to examine the innovations in the tax system in recent years, affecting the sector, but also to assess the feasibility of implementing a tax policy with a specific focus. The current survey is based on an analysis of the present situation in the country. The types of fiscal policy, the flat system of taxation and tax preferences are considered.
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Trystuła, Agnieszka. "Concept of a Polish Database of a Multi-Dimensional Cadastral System with Particular Focus on Geo-Hazards." In Environmental Engineering. VGTU Technika, 2017. http://dx.doi.org/10.3846/enviro.2017.247.

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The dynamic growth of contemporary cadastral systems depends on multiple factors, which include, e.g. economic policy of a given country and possibilities of implementing activities supporting innovation and transfer of new technologies. A modern cadastre should satisfy not only its leading functions, which include, e.g. fiscal, information, legal or record functions. It should also be oriented towards new challenges, including 3D geovisualisation, which will enable multidimensional visualisation of cadastral objects. New data visualisation methods will contribute to extending the existing functions of cadastral systems and to emergence of new functions, e.g. related to ensuring public safety as a basic aim of crisis management, being an important element of sustainable development. This paper presents a concept of a database of multidimensional cadastral system enabling, for instance, 3D visualisation of system objects, incorporating its known functions (e.g. fiscal, information or legal functions), and also a new purpose –support for crisis management. Additionally, the study indicates sources of data that should be used for this type of undertaking (e.g. flood hazard maps, maps of areas at risk of mass land movements, orthophotomaps).
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Abu-Hijleh, Farah Marwan. "The Effect of Subsidies on Healthful Consumption: Systematic Review and Data Synthesis." In Qatar University Annual Research Forum & Exhibition. Qatar University Press, 2020. http://dx.doi.org/10.29117/quarfe.2020.0147.

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Background: Prevalence of obesity and overweight has risen to the level of an epidemic. Health policy makers are seeking evidence-based solutions to this problem. This study reviews evidence on the subsidization of healthy foods as a fiscal tool to aid-in the public health response to this epidemic. Methods: A systematic search of the major databases was performed, and data extracted from studies meeting inclusion criteria. Main outcomes of interest were indicators of purchasing/consumption pattern, or body composition. Preliminary results are presented as a narrative summary. Results: Search results yielded 22 studies, of which 10 were extracted and 12 excluded. Of the 12 excluded 5 were duplicate studies of reports extracted, and 7 studies did not meet inclusion criteria. Most extracted studies were randomized control trials. The majority of the studies had multiple arms, one of which was typically a multi-component fiscal measure implemented alongside education or skills building. This type of multi-component intervention yielded the most promising results, mainly an increase in the percentage of daily fruit and/or vegetable consumption. This percentage increase varied between studies ranging from 4% up to 35%, with fruit consumption/purchasing responding more favorably to pricing changes compared to vegetable consumption/purchasing. Conclusion: Although preliminary, the results suggest that multi-component interventions appear to be the most promising in terms of real changes to purchasing behavior. Important considerations include the significant heterogeneity in reported outcomes, and the notable lack of studies assessing for substitution effects. Policy makers, in their examination of these findings, should consider these limitations.
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Ismoilov, G. N. "State Fiscal Policy." In II International Conference on Economic and Social Trends for Sustainability of Modern Society. European Publisher, 2021. http://dx.doi.org/10.15405/epsbs.2021.09.02.15.

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Menchynska, Olena, Serhii Sobchuk, Zhanna Harbar, and Victor Harbar. "Fiscal policy under economic transformation." In Proceedings of the 6th International Conference on Strategies, Models and Technologies of Economic Systems Management (SMTESM 2019). Paris, France: Atlantis Press, 2019. http://dx.doi.org/10.2991/smtesm-19.2019.41.

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Luarsabishvili, Marine. "GEORGIA FISCAL POLICY AND MACROECONOMIC RISKS." In Integration of business structures: competition and cooperation. Publishing House “Baltija Publishing”, 2021. http://dx.doi.org/10.30525/978-9934-26-036-0-2.

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Malikova, A. Kh. "Medieval Thinkers On Government Fiscal Policy." In Global Challenges and Prospects of The Modern Economic Development. European Publisher, 2021. http://dx.doi.org/10.15405/epsbs.2021.04.02.120.

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Dong Yanmei and Chen Lixian. "Notice of Retraction: On the deficit fiscal policy and China's fiscal deficit." In Business Management and Electronic Information. 2011 International Conference on Business Management and Electronic Information (BMEI 2011). IEEE, 2011. http://dx.doi.org/10.1109/icbmei.2011.5920985.

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Dziemianowicz, Ryta, Aneta Kargol-Wasiluk, and Anna Wildowicz-Giegiel. "NEW FISCAL POLICY? LESSON FROM THE CRISIS." In 9th Economics & Finance Conference, London. International Institute of Social and Economic Sciences, 2018. http://dx.doi.org/10.20472/efc.2018.009.002.

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ISTUDOR, Ileana Iulia, and Florina MOCANU. "Fiscal Policy, Prices, Inflation - Dependencies and Interdependences." In International Conference Global interferences of knowledge society, November 16-17th, 2018, Targoviste, Romania. LUMEN Publishing house, 2019. http://dx.doi.org/10.18662/lumproc.131.

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Reports on the topic "Types of fiscal policy"

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Ardanaz, Martín, Eduardo A. Cavallo, Alejandro Izquierdo, and Jorge Puig. Output Effects of Fiscal Consolidations: Does Spending Composition Matter? Inter-American Development Bank, December 2021. http://dx.doi.org/10.18235/0003881.

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This paper studies whether changes in the composition of public spending affect the macroeconomic consequences of fiscal consolidations. Based on a sample of 44 developing countries and 26 advanced economies during 1980-2019, results show that while fiscal consolidations tend to be on average, contractionary, the size of the output fall depends on the behavior of public investment vis-a-vis public consumption during the fiscal adjustment, with heterogeneous responses growing over time. When public investment is penalized relative to public consumption and thus, its share in public expenditures decreases, a 1 percent of GDP consolidation reduces output by 0.7 percent within three years of the fiscal shock. In contrast, safeguarding public investment from budget cuts vis-a-vis public consumption can neutralize the contractionary effects of fiscal adjustments on impact, and can even spur output growth over the medium term. The component of GDP that mostly drives the heterogeneity between both types of adjustments is private investment. The results hold up to a number of robust-ness tests, including alternative identification strategies of fiscal shocks. The findings have policy implications for the design of fiscal adjustment strategies to protect economic growth as countries recover from the coronavirus pandemic.consolidation reduces output by 0.7 percent within three years of the fiscal shock. In contrast, safeguarding public investment from budget cuts vis-a-vis public consumption can neutralize the contractionary effects of fiscal adjustments on impact, and can even spur output growth over the medium term. The component of GDP that mostly drives the heterogeneity between both types of adjustments is private investment. The results hold up to a number of robustness tests, including alternative identification strategies of fiscal shocks. The findings have policy implications for the design of fiscal adjustment strategies to protect economic growth as countries recover from the coronavirus pandemic.
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D’Acunto, Francesco, Daniel Hoang, and Michael Weber. Unconventional Fiscal Policy. Cambridge, MA: National Bureau of Economic Research, January 2018. http://dx.doi.org/10.3386/w24244.

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Davig, Troy, and Eric Leeper. Monetary-Fiscal Policy Interactions and Fiscal Stimulus. Cambridge, MA: National Bureau of Economic Research, July 2009. http://dx.doi.org/10.3386/w15133.

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Battaglini, Marco, and Stephen Coate. Fiscal Policy and Unemployment. Cambridge, MA: National Bureau of Economic Research, November 2011. http://dx.doi.org/10.3386/w17562.

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Sinn, Hans-Werner. The ECB's Fiscal Policy. Cambridge, MA: National Bureau of Economic Research, May 2018. http://dx.doi.org/10.3386/w24613.

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Kocherlakota, Narayana. Stabilization with Fiscal Policy. Cambridge, MA: National Bureau of Economic Research, September 2021. http://dx.doi.org/10.3386/w29226.

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Dupor, Bill, Rong Li, and Jingchao Li. Sticky Wages, Monetary Policy and Fiscal Policy Multipliers. Federal Reserve Bank of St. Louis, 2017. http://dx.doi.org/10.20955/wp.2017.007.

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e Castro, Miguel Faria. Fiscal Policy during a Pandemic. Federal Reserve Bank of St. Louis, 2020. http://dx.doi.org/10.20955/wp.2020.006.

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Davig, Troy, Eric Leeper, and Hess Chung. Monetary and Fiscal Policy Switching. Cambridge, MA: National Bureau of Economic Research, March 2004. http://dx.doi.org/10.3386/w10362.

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Caballero, Ricardo, and Arvind Krishnamurthy. Fiscal Policy and Financial Depth. Cambridge, MA: National Bureau of Economic Research, May 2004. http://dx.doi.org/10.3386/w10532.

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