1,721,260 research outputs found
Taxes and the Labor Market
Full text linkWe estimate the effect of exogenous changes in taxes on the US unemployment rate and on several other labor market variables. Our estimates are based on a revised version of the Romer and Romer (2010) narrative record of exogenous tax innovations, with the additional benefit of distinguishing between capital income and labor income taxes. We first show that accounting for the difference between automatic and discretionary tax changes in the revised specification is crucial in order to obtain an unbiased measure of the tax multipliers. We then obtain the following main results. An increase in tax receipts of one percent of GDP has a sizeable positive impact on the unemployment rate, and a negative impact on hours worked, labor market tightness and job finding probability. The effect on GDP is also sizeable, but somewhat in the mid range of other values found in the literature, due to the fact that we account for the difference between discretionary and automatic changes in tax revenues. The effect on the unemployment rate of variations in business taxes is larger than that of personal income taxes. We suggest that the latter result poses interesting challenges for future research.
The Political Economy of Fiscal Adjustments
Full text linkmacroeconomics, Political Economy, Fiscal Adjustments
Bütçe Yöntemleri ve Kurumlarının Bütçe Sonuçlarına Etkisi
Full text linkBu çalışma Alberto Alesina ve Roberto Perotti tarafından Uluslararası Para Fonu (IMF) için hazırlanmıştır. Yazarlar bütçe sürecinin bütçe sonuçları üzerindeki etkileri üzerinde durmuşlardır. İncelemelerinde son otuz yılda kamu borçlarının arttığını görmüsler ve bunları istatistiki bilgilerle desteklemişlerdir. Onlara göre bu artışın esas sebebi transfer harcamalarıdır.Bu yüzden Alberto Alesina ve Roberto Perotti esnek şeffaf, küçültülmüş ve özerk bir bütçeyi önerirler.ABSTRACT This survey was prepared by Alberto Alesina and Roberto Perotti for International Monetary Fund (IMF). The authors focused on the influences of butget procedures on butget outcomes. In their study, they witnessed the increasing puplic dept in last thirty years and they supported that fact by statistical data. They considered growing transfer expensives as the main cause of the increase.Therefore they (Alberto Alesina and Roberto Perotti) recommended flexible, transparent, reduced and autonomous butget
On the ease of overstating the fiscal stimulus in the US, 2008-9
Full text linkThis note shows that the aggregate fiscal expenditure stimulus in the United States, properly adjusted for the declining fiscal expenditure of the fifty states, was close to zero in 2009. While the Federal government stimulus prevented a net decline in aggregate fiscal expenditure, it did not stimulate the aggregate expenditure above its predicted mean. We discuss the implications of limitations on states' ability to run deficits for the design of fiscal stimulus at the federal level. We devote particular attention to intertemporal moral hazard concerns in a federal fiscal system, and ways to address these concerns.
Nations, conglomerates, and empires : the tradeoff between income and sovereignty
Full text linkOne of the apparent inconsistencies in the breakup of multinational states is that, while the republics justified their decision by claiming they wanted increased sovereignty, the new states'strong desire to join the European Union shows their intention to dissipate this sovereignty. How can the two desires be reconciled? The author explains that full sovereignty is neither reachable nor desirable for most countries. Economic sovereignty is normally limited in key areas: exchange rate policy, trade policy, labor and banking regulations, and so on. There is a tradeoff curve between sovereignty and income. The author tests the following premises: a) larger countries (measured by GDP) are more sovereign; and b) countries with abundant natural resources or skilled workers as well as democratic countries tend to be more integrated. The author finds a statistically strong impact of per capita wealth and democracy on international integration. The effect of country size is weaker. The author discusses why different countries may wish to form conglomerates. He finds that the willingness to join conglomerates is greater for countries that are relatively poor and for democracies. The country size effect is U shaped. The key gain from independence for the relatively rich republics that were former members of the Communist conglomerates was not the economic sovereignty in itself but the ability to switch from a poor to a rich conglomerate.Environmental Economics&Policies,Economic Theory&Research,Payment Systems&Infrastructure,Fiscal&Monetary Policy,Labor Policies,Environmental Economics&Policies,National Governance,TF054105-DONOR FUNDED OPERATION ADMINISTRATION FEE INCOME AND EXPENSE ACCOUNT,Inequality,Economic Theory&Research
Going Beyond Counting First Authors in Author Co-citation Analysis
Full text linkThe present study examines one of the fundamental aspects of author co-citation analysis (ACA) - the way co-citation
counts are defined. Co-citation counting provides the data on which all subsequent statistical analyses and mappings
are based, and we compare ACA results based on two different types of co-citation counting - the traditional type that
only counts the first one among a cited work's authors on the one hand and a non-traditional type that takes into
account the first 5 authors of a cited work on the other hand. Results indicate that the picture produced through this non-traditional author co-citation counting contains more coherent author groups and is therefore considerably clearer. However, this picture represents fewer specialties in the research field being studied than that produced through the traditional first-author co-citation counting when the same number of top-ranked authors is selected and analyzed. Reasons for these effects are discussed
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