Strictly speaking, fiscal policy refers to the policy of the public treasury, but economists have narrowed this definition so that now it is taken to relate only to controls of the economy by government revenue (mainly taxation) and government expenditure. As with monetary policy, the primary ...
By “structural” I assume you mean “cyclically adjusted”. The cyclically adjusted primary balances (CAPB) in the IMF Fiscal Monitor are measured with respect to potential GDP, not GDP. Furthermore I thought this was always the case by definition for cyclically adjusted balances. What am I n...
With interest rates essentially stuck at theZero Lower Boundit becomes impossible to ease monetary policy by using the interest rate “instrument”. In fact interest rates can never really be an “instrument”. It can be a way of communicating, but the actual monetary policy instrument will alwa...
Sadly, Mike thinks argument by assertion is an adequate answer to Menzie’s point. Mike claims no good has come of fiscal policy during the recession and after. Mike claims that the US won’t suffer from ill-timed fiscal contraction. Mike somehow fails to offer anything like evidence. Simple...
and resilience of societies to climate and other environmental shocks. Unprecedented fiscal spending in the COVID-19 recovery offered an opportunity to systematically enhance adaptation and resilience to future shocks. But did the ‘build back better’ rhetoric manifest in more resilient policy?
The Centre provides technical expertise and support to the Committee on Fiscal Affairs and examines all aspects of taxation other than macro-fiscal policy, which is dealt with [...] daccess-ods.un.org 该中心为财政事务委员会提供技 术专长和支持,并研究 除宏观财政政策之外的税务的方方面面, ...
This paper measures the 2007–13 evolution of employment tax rates in the U.K. and the U.S. The U.S. changes are greater, in the direction of taxing a greater fraction of the value created by employment, and primarily achieved with new implicit tax rates
The motivation for this paper is to investigate a previously unexplored exogenous shock to fiscal sustainability from economic policy uncertainty. To control for the impact of local government institutional and cultural factors on fiscal sustainability,
Geothermal policy in the United States started with the California Geothermal Resources Act of 1967 and the Federal Geothermal Steam Act of 1970. The royalty structure was reduced as an added incentive as follows: for electricity production, the royalties were: 1.75% of gross proceeds for the firs...
Define Fiscal discipline. Fiscal discipline synonyms, Fiscal discipline pronunciation, Fiscal discipline translation, English dictionary definition of Fiscal discipline. When the government’s spending equals its revenue from, for example, taxation. Comp