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overflow: hidden; text-overflow: ellipsis; -webkit-line-clamp: 3; -webkit-box-orient: vertical; }</style><div class="col-xs-12 clearfix"><div class="u-floatLeft"><h1 class="PageHeader-title u-m0x u-fs30">Fiscal policy</h1><div class="u-tcGrayDark">37,929 Followers</div><div class="u-tcGrayDark u-mt2x">Recent papers in <b>Fiscal policy</b></div></div></div></div></div></div><div class="TabbedNavigation"><div class="container"><div class="row"><div class="col-xs-12 clearfix"><ul class="nav u-m0x u-p0x list-inline u-displayFlex"><li class="active"><a href="https://www.academia.edu/Documents/in/Fiscal_policy">Top Papers</a></li><li><a href="https://www.academia.edu/Documents/in/Fiscal_policy/MostCited">Most Cited Papers</a></li><li><a href="https://www.academia.edu/Documents/in/Fiscal_policy/MostDownloaded">Most Downloaded Papers</a></li><li><a href="https://www.academia.edu/Documents/in/Fiscal_policy/MostRecent">Newest Papers</a></li><li><a class="" href="https://www.academia.edu/People/Fiscal_policy">People</a></li></ul></div><style type="text/css">ul.nav{flex-direction:row}@media(max-width: 567px){ul.nav{flex-direction:column}.TabbedNavigation li{max-width:100%}.TabbedNavigation li.active{background-color:var(--background-grey, #dddde2)}.TabbedNavigation li.active:before,.TabbedNavigation li.active:after{display:none}}</style></div></div></div><div class="container"><div class="row"><div class="col-xs-12"><div class="u-displayFlex"><div class="u-flexGrow1"><div class="works"><div class="u-borderBottom1 u-borderColorGrayLighter"><div class="clearfix u-pv7x u-mb0x js-work-card work_48533096" data-work_id="48533096" itemscope="itemscope" itemtype="https://schema.org/ScholarlyArticle"><div class="header"><div class="title u-fontSerif u-fs22 u-lineHeight1_3"><a class="u-tcGrayDarkest js-work-link" href="https://www.academia.edu/48533096/Achieving_and_safeguarding_sound_fiscal_positions_Proceedings_of_the_Workshop_organised_by_the_Directorate_General_for_Economic_and_Financial_Affairs_in_Brussels_on_17_January_2008_Martin_Larch">Achieving and safeguarding sound fiscal positions - Proceedings of the Workshop organised by the Directorate-General for Economic and Financial Affairs in Brussels on 17 January 2008 - Martin Larch</a></div></div><div class="u-pb4x u-mt3x"><div class="summary u-fs14 u-fw300 u-lineHeight1_5 u-tcGrayDarkest"><div class="summarized">Proceedings of the Workshop organised by the Directorate-General for Economic and Financial Affairs in Brussels on 17 January 2008. The post-2007 global financial and economic crisis has generated considerable political pressure in the... <a class="more_link u-tcGrayDark u-linkUnstyled" data-container=".work_48533096" data-show=".complete" data-hide=".summarized" data-more-link-behavior="true" href="#">more</a></div><div class="complete hidden">Proceedings of the Workshop organised by the Directorate-General for Economic and Financial Affairs in Brussels on 17 January 2008. The post-2007 global financial and economic crisis has generated considerable political pressure in the EU, and beyond, to loosen the reigns of fiscal policy. Stabilisation is given priority over adjustment. In the medium and long term, however, one of the main</div></div></div><ul class="InlineList u-ph0x u-fs13"><li class="InlineList-item logged_in_only"><div class="share_on_academia_work_button"><a class="academia_share Button Button--inverseBlue Button--sm js-bookmark-button" data-academia-share="Work/48533096" data-share-source="work_strip" data-spinner="small_white_hide_contents"><i class="fa fa-plus"></i><span class="work-strip-link-text u-ml1x" data-content="button_text">Bookmark</span></a></div></li><li class="InlineList-item"><div class="download"><a id="931f605373eb86819771a81907ca48e9" rel="nofollow" data-download="{"attachment_id":67095105,"asset_id":48533096,"asset_type":"Work","always_allow_download":false,"track":null,"button_location":"work_strip","source":null,"hide_modal":null}" class="Button Button--sm Button--inverseGreen js-download-button prompt_button doc_download" href="https://www.academia.edu/attachments/67095105/download_file?st=MTc0MDE1MDU5MSw4LjIyMi4yMDguMTQ2&s=work_strip"><i class="fa fa-arrow-circle-o-down fa-lg"></i><span class="u-textUppercase u-ml1x" data-content="button_text">Download</span></a></div></li><li class="InlineList-item"><ul class="InlineList InlineList--bordered u-ph0x"><li class="InlineList-item InlineList-item--bordered"><span class="InlineList-item-text">by <span itemscope="itemscope" itemprop="author" itemtype="https://schema.org/Person"><a class="u-tcGrayDark u-fw700" data-has-card-for-user="33819683" href="https://independent.academia.edu/MartinLarch">Martin Larch</a><script data-card-contents-for-user="33819683" type="text/json">{"id":33819683,"first_name":"Martin","last_name":"Larch","domain_name":"independent","page_name":"MartinLarch","display_name":"Martin Larch","profile_url":"https://independent.academia.edu/MartinLarch?f_ri=21198","photo":"https://0.academia-photos.com/33819683/70816037/59245533/s65_martin.larch.jpeg"}</script></span></span></li><li class="js-paper-rank-work_48533096 InlineList-item InlineList-item--bordered hidden"><span class="js-paper-rank-view hidden u-tcGrayDark" data-paper-rank-work-id="48533096"><i class="u-m1x fa fa-bar-chart"></i><strong class="js-paper-rank"></strong></span><script>$(function() { new Works.PaperRankView({ workId: 48533096, container: ".js-paper-rank-work_48533096", }); 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holistic socio-economic framework working in conformity with the Islamic principles.</div></div><ul class="InlineList u-ph0x u-fs13"><li class="InlineList-item logged_in_only"><div class="share_on_academia_work_button"><a class="academia_share Button Button--inverseBlue Button--sm js-bookmark-button" data-academia-share="Work/6534398" data-share-source="work_strip" data-spinner="small_white_hide_contents"><i class="fa fa-plus"></i><span class="work-strip-link-text u-ml1x" data-content="button_text">Bookmark</span></a></div></li><li class="InlineList-item"><div class="download"><a id="5a612866a77243258a38af741b41d849" rel="nofollow" data-download="{"attachment_id":48819560,"asset_id":6534398,"asset_type":"Work","always_allow_download":false,"track":null,"button_location":"work_strip","source":null,"hide_modal":null}" class="Button Button--sm Button--inverseGreen js-download-button prompt_button doc_download" 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u-positionRelative">35</a>  </div><span class="InlineList-item-text u-textTruncate u-pl10x"><a class="InlineList-item-text" data-has-card-for-ri="47" rel="nofollow" href="https://www.academia.edu/Documents/in/Finance">Finance</a>, <script data-card-contents-for-ri="47" type="text/json">{"id":47,"name":"Finance","url":"https://www.academia.edu/Documents/in/Finance?f_ri=21198","nofollow":true}</script><a class="InlineList-item-text" data-has-card-for-ri="724" rel="nofollow" href="https://www.academia.edu/Documents/in/Economics">Economics</a>, <script data-card-contents-for-ri="724" type="text/json">{"id":724,"name":"Economics","url":"https://www.academia.edu/Documents/in/Economics?f_ri=21198","nofollow":true}</script><a class="InlineList-item-text" data-has-card-for-ri="741" rel="nofollow" href="https://www.academia.edu/Documents/in/Public_Finance">Public Finance</a>, <script data-card-contents-for-ri="741" type="text/json">{"id":741,"name":"Public 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principles.","downloadable_attachments":[{"id":48819560,"asset_id":6534398,"asset_type":"Work","always_allow_download":false}],"ordered_authors":[{"id":10461068,"first_name":"Salman","last_name":"Shaikh","domain_name":"independent","page_name":"SalmanShaikh6","display_name":"Salman Shaikh","profile_url":"https://independent.academia.edu/SalmanShaikh6?f_ri=21198","photo":"/images/s65_no_pic.png"}],"research_interests":[{"id":47,"name":"Finance","url":"https://www.academia.edu/Documents/in/Finance?f_ri=21198","nofollow":true},{"id":724,"name":"Economics","url":"https://www.academia.edu/Documents/in/Economics?f_ri=21198","nofollow":true},{"id":741,"name":"Public Finance","url":"https://www.academia.edu/Documents/in/Public_Finance?f_ri=21198","nofollow":true},{"id":748,"name":"Financial 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economy","url":"https://www.academia.edu/Documents/in/Market_economy?f_ri=21198"},{"id":167339,"name":"Redistribution","url":"https://www.academia.edu/Documents/in/Redistribution?f_ri=21198"},{"id":228986,"name":"Exchange rate","url":"https://www.academia.edu/Documents/in/Exchange_rate?f_ri=21198"},{"id":232203,"name":"Saving","url":"https://www.academia.edu/Documents/in/Saving?f_ri=21198"},{"id":244811,"name":"Financial Sector","url":"https://www.academia.edu/Documents/in/Financial_Sector?f_ri=21198"},{"id":316163,"name":"Crowding Out","url":"https://www.academia.edu/Documents/in/Crowding_Out?f_ri=21198"},{"id":353101,"name":"Banking Sector","url":"https://www.academia.edu/Documents/in/Banking_Sector?f_ri=21198"},{"id":356263,"name":"Fiscal reform","url":"https://www.academia.edu/Documents/in/Fiscal_reform?f_ri=21198"},{"id":466484,"name":"Private Sector","url":"https://www.academia.edu/Documents/in/Private_Sector?f_ri=21198"},{"id":511465,"name":"Financial intermediation","url":"https://www.academia.edu/Documents/in/Financial_intermediation?f_ri=21198"},{"id":517594,"name":"Central Bank","url":"https://www.academia.edu/Documents/in/Central_Bank?f_ri=21198"},{"id":567636,"name":"Balance of Payment","url":"https://www.academia.edu/Documents/in/Balance_of_Payment?f_ri=21198"},{"id":578759,"name":"Economic systems","url":"https://www.academia.edu/Documents/in/Economic_systems?f_ri=21198"},{"id":1232454,"name":"Deadweight Loss","url":"https://www.academia.edu/Documents/in/Deadweight_Loss?f_ri=21198"},{"id":1723635,"name":"Public Policy","url":"https://www.academia.edu/Documents/in/Public_Policy?f_ri=21198"}]}, }) } })();</script></ul></li></ul></div></div><div class="u-borderBottom1 u-borderColorGrayLighter"><div class="clearfix u-pv7x u-mb0x js-work-card work_40975478" data-work_id="40975478" itemscope="itemscope" itemtype="https://schema.org/ScholarlyArticle"><div class="header"><div class="title u-fontSerif u-fs22 u-lineHeight1_3"><a class="u-tcGrayDarkest js-work-link" href="https://www.academia.edu/40975478/Tax_and_Spend_Spend_and_Tax_Fiscal_Synchronization_or_Fiscal_Separation_Emerging_Evidence_from_Nigeria">Tax-and-Spend, Spend-and-Tax, Fiscal Synchronization, or Fiscal Separation: Emerging Evidence from Nigeria</a></div></div><div class="u-pb4x u-mt3x"><div class="summary u-fs14 u-fw300 u-lineHeight1_5 u-tcGrayDarkest"><div class="summarized">The main thrust of this research was to explore the revenue and expenditure nexus on Nigeria from 1981 to 2016. It tried to uncover the expenditure hypothesis that Nigeria's government had adopted in her budgeting. Time series data... <a class="more_link u-tcGrayDark u-linkUnstyled" data-container=".work_40975478" data-show=".complete" data-hide=".summarized" data-more-link-behavior="true" href="#">more</a></div><div class="complete hidden">The main thrust of this research was to explore the revenue and expenditure nexus on Nigeria from 1981 to 2016. It tried to uncover the expenditure hypothesis that Nigeria's government had adopted in her budgeting. Time series data obtained from the statistical bulletin of the Central Bank of Nigeria (CBN) was used for the study, and it was subjected to unit-root tests. The results from Augmented Dickey Fuller (ADF) and Philip-Perron tests indicated that the variables only became stationary after differencing once. Accordingly, Johansen cointegration test was conducted and results revealed a longrun relationship between the variables. An Error Correction Model (ECM) was carried out to tie the shortrun dynamics with longrun equilibrium. The ECM exhibited the right sign and significant in both models. The results equally provided empirical evidence that government expenditure has significant effect on revenue in Nigeria as there was a negative and significant relationship between them at various lags when expenditure was made the dependent variable. A positive and significant relationship existed between the variables at various lags when revenue was made the dependent variable. The results of Granger causality tests showed that unidirectional causality runs from expenditure to revenue in Nigeria and this confirmed the adoption of Spend-Tax Hypothesis in Nigeria. Based on these findings, it was recommended that the government should lay more emphases on revenue than expenditure to remove/reduce budget deficits; should explore other viable avenues other than oil to increase its revenue; emphases should be placed on capital expenditure than on recurrent expenditure as this will help in reducing the over bearing expenditure profile of the country and removal of fiscal imbalances.</div></div></div><ul class="InlineList u-ph0x u-fs13"><li class="InlineList-item logged_in_only"><div class="share_on_academia_work_button"><a class="academia_share Button Button--inverseBlue Button--sm js-bookmark-button" data-academia-share="Work/40975478" data-share-source="work_strip" data-spinner="small_white_hide_contents"><i class="fa fa-plus"></i><span class="work-strip-link-text u-ml1x" data-content="button_text">Bookmark</span></a></div></li><li class="InlineList-item"><div class="download"><a id="f53c6956daaec75bab90a1b7aa375848" rel="nofollow" data-download="{"attachment_id":61257874,"asset_id":40975478,"asset_type":"Work","always_allow_download":false,"track":null,"button_location":"work_strip","source":null,"hide_modal":null}" class="Button Button--sm Button--inverseGreen js-download-button prompt_button doc_download" href="https://www.academia.edu/attachments/61257874/download_file?st=MTc0MDE1MDU5MSw4LjIyMi4yMDguMTQ2&s=work_strip"><i class="fa fa-arrow-circle-o-down fa-lg"></i><span class="u-textUppercase u-ml1x" data-content="button_text">Download</span></a></div></li><li class="InlineList-item"><ul class="InlineList InlineList--bordered u-ph0x"><li class="InlineList-item InlineList-item--bordered"><span class="InlineList-item-text">by <span itemscope="itemscope" itemprop="author" itemtype="https://schema.org/Person"><a class="u-tcGrayDark u-fw700" data-has-card-for-user="108301421" href="https://absuu.academia.edu/OgbonnaBenUchennaMiracle">Dr. Ben M . Ogbonna</a><script data-card-contents-for-user="108301421" type="text/json">{"id":108301421,"first_name":"Dr. Ben","last_name":"Ogbonna","domain_name":"absuu","page_name":"OgbonnaBenUchennaMiracle","display_name":"Dr. Ben M . 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It tried to uncover the expenditure hypothesis that Nigeria's government had adopted in her budgeting. Time series data obtained from the statistical bulletin of the Central Bank of Nigeria (CBN) was used for the study, and it was subjected to unit-root tests. The results from Augmented Dickey Fuller (ADF) and Philip-Perron tests indicated that the variables only became stationary after differencing once. Accordingly, Johansen cointegration test was conducted and results revealed a longrun relationship between the variables. An Error Correction Model (ECM) was carried out to tie the shortrun dynamics with longrun equilibrium. The ECM exhibited the right sign and significant in both models. The results equally provided empirical evidence that government expenditure has significant effect on revenue in Nigeria as there was a negative and significant relationship between them at various lags when expenditure was made the dependent variable. A positive and significant relationship existed between the variables at various lags when revenue was made the dependent variable. The results of Granger causality tests showed that unidirectional causality runs from expenditure to revenue in Nigeria and this confirmed the adoption of Spend-Tax Hypothesis in Nigeria. Based on these findings, it was recommended that the government should lay more emphases on revenue than expenditure to remove/reduce budget deficits; should explore other viable avenues other than oil to increase its revenue; emphases should be placed on capital expenditure than on recurrent expenditure as this will help in reducing the over bearing expenditure profile of the country and removal of fiscal imbalances.","downloadable_attachments":[{"id":61257874,"asset_id":40975478,"asset_type":"Work","always_allow_download":false}],"ordered_authors":[{"id":108301421,"first_name":"Dr. Ben","last_name":"Ogbonna","domain_name":"absuu","page_name":"OgbonnaBenUchennaMiracle","display_name":"Dr. Ben M . Ogbonna","profile_url":"https://absuu.academia.edu/OgbonnaBenUchennaMiracle?f_ri=21198","photo":"/images/s65_no_pic.png"}],"research_interests":[{"id":724,"name":"Economics","url":"https://www.academia.edu/Documents/in/Economics?f_ri=21198","nofollow":true},{"id":1454,"name":"Tax Law","url":"https://www.academia.edu/Documents/in/Tax_Law?f_ri=21198","nofollow":true},{"id":4486,"name":"Political Science","url":"https://www.academia.edu/Documents/in/Political_Science?f_ri=21198","nofollow":true},{"id":4770,"name":"Taxation","url":"https://www.academia.edu/Documents/in/Taxation?f_ri=21198","nofollow":true},{"id":9137,"name":"Fiscal Federalism","url":"https://www.academia.edu/Documents/in/Fiscal_Federalism?f_ri=21198"},{"id":9415,"name":"Fiscal federalism and decentralization","url":"https://www.academia.edu/Documents/in/Fiscal_federalism_and_decentralization?f_ri=21198"},{"id":21198,"name":"Fiscal policy","url":"https://www.academia.edu/Documents/in/Fiscal_policy?f_ri=21198"},{"id":28439,"name":"Fiscal Policy and debt Management","url":"https://www.academia.edu/Documents/in/Fiscal_Policy_and_debt_Management?f_ri=21198"},{"id":335325,"name":"Spending Behavior","url":"https://www.academia.edu/Documents/in/Spending_Behavior?f_ri=21198"},{"id":1723635,"name":"Public Policy","url":"https://www.academia.edu/Documents/in/Public_Policy?f_ri=21198"}]}, }) } })();</script></ul></li></ul></div></div><div class="u-borderBottom1 u-borderColorGrayLighter"><div class="clearfix u-pv7x u-mb0x js-work-card work_80518256" data-work_id="80518256" itemscope="itemscope" itemtype="https://schema.org/ScholarlyArticle"><div class="header"><div class="title u-fontSerif u-fs22 u-lineHeight1_3"><a class="u-tcGrayDarkest js-work-link" href="https://www.academia.edu/80518256/A_COMPARATIVE_STUDY_OF_TAX_BUOYANCIES_BETWEEN_HIGH_AND_LOW_INCOME_STATES_OF_INDIA_FROM_2001_02_TO_2016_17">A COMPARATIVE STUDY OF TAX BUOYANCIES BETWEEN HIGH AND LOW-INCOME STATES OF INDIA FROM 2001-02 TO 2016-17</a></div></div><div class="u-pb4x u-mt3x"><div class="summary u-fs14 u-fw300 u-lineHeight1_5 u-tcGrayDarkest"><div class="summarized">This paper aims to compare the pattern of own-tax collection and tax buoyancy of high and low-income states of India from 2001-02 to 2016-17. The study observed that the tax-to-GSDP ratio decreased in the high-income states. While it... <a class="more_link u-tcGrayDark u-linkUnstyled" data-container=".work_80518256" data-show=".complete" data-hide=".summarized" data-more-link-behavior="true" href="#">more</a></div><div class="complete hidden">This paper aims to compare the pattern of own-tax collection and tax buoyancy of high and low-income states of India from 2001-02 to 2016-17. The study observed that the tax-to-GSDP ratio decreased in the high-income states. While it observed an increase in low-income states except for Rajasthan. The lower-income states observed the buoyant tax revenue collections. Whereas, the high-income states were not able to maintain the buoyant taxes. Thus, the states with lower tax buoyancies need to strengthen their administrative structure to increase their tax coverage.</div></div></div><ul class="InlineList u-ph0x u-fs13"><li class="InlineList-item logged_in_only"><div class="share_on_academia_work_button"><a class="academia_share Button Button--inverseBlue Button--sm js-bookmark-button" data-academia-share="Work/80518256" data-share-source="work_strip" data-spinner="small_white_hide_contents"><i class="fa fa-plus"></i><span class="work-strip-link-text u-ml1x" data-content="button_text">Bookmark</span></a></div></li><li class="InlineList-item"><div class="download"><a id="d455e47d26bde500a6ce86a6a0a517e0" rel="nofollow" data-download="{"attachment_id":86873295,"asset_id":80518256,"asset_type":"Work","always_allow_download":false,"track":null,"button_location":"work_strip","source":null,"hide_modal":null}" class="Button Button--sm Button--inverseGreen js-download-button prompt_button doc_download" href="https://www.academia.edu/attachments/86873295/download_file?st=MTc0MDE1MDU5MSw4LjIyMi4yMDguMTQ2&s=work_strip"><i class="fa fa-arrow-circle-o-down fa-lg"></i><span class="u-textUppercase u-ml1x" data-content="button_text">Download</span></a></div></li><li class="InlineList-item"><ul class="InlineList InlineList--bordered u-ph0x"><li class="InlineList-item InlineList-item--bordered"><span class="InlineList-item-text">by <span itemscope="itemscope" itemprop="author" itemtype="https://schema.org/Person"><a class="u-tcGrayDark u-fw700" data-has-card-for-user="152670605" href="https://dauniv.academia.edu/AnkitSuryawanshi">Ankit K U M A R Suryawanshi</a><script data-card-contents-for-user="152670605" type="text/json">{"id":152670605,"first_name":"Ankit","last_name":"Suryawanshi","domain_name":"dauniv","page_name":"AnkitSuryawanshi","display_name":"Ankit K U M A R Suryawanshi","profile_url":"https://dauniv.academia.edu/AnkitSuryawanshi?f_ri=21198","photo":"https://0.academia-photos.com/152670605/82463506/71069888/s65_ankit.suryawanshi.jpeg"}</script></span></span></li><li class="js-paper-rank-work_80518256 InlineList-item InlineList-item--bordered hidden"><span class="js-paper-rank-view hidden u-tcGrayDark" data-paper-rank-work-id="80518256"><i class="u-m1x fa fa-bar-chart"></i><strong class="js-paper-rank"></strong></span><script>$(function() { new Works.PaperRankView({ workId: 80518256, container: ".js-paper-rank-work_80518256", }); 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The study observed that the tax-to-GSDP ratio decreased in the high-income states. While it observed an increase in low-income states except for Rajasthan. The lower-income states observed the buoyant tax revenue collections. Whereas, the high-income states were not able to maintain the buoyant taxes. Thus, the states with lower tax buoyancies need to strengthen their administrative structure to increase their tax coverage.","downloadable_attachments":[{"id":86873295,"asset_id":80518256,"asset_type":"Work","always_allow_download":false}],"ordered_authors":[{"id":152670605,"first_name":"Ankit","last_name":"Suryawanshi","domain_name":"dauniv","page_name":"AnkitSuryawanshi","display_name":"Ankit K U M A R Suryawanshi","profile_url":"https://dauniv.academia.edu/AnkitSuryawanshi?f_ri=21198","photo":"https://0.academia-photos.com/152670605/82463506/71069888/s65_ankit.suryawanshi.jpeg"}],"research_interests":[{"id":6285,"name":"Federalism","url":"https://www.academia.edu/Documents/in/Federalism?f_ri=21198","nofollow":true},{"id":10054,"name":"State And Local Public Finance","url":"https://www.academia.edu/Documents/in/State_And_Local_Public_Finance?f_ri=21198","nofollow":true},{"id":21198,"name":"Fiscal policy","url":"https://www.academia.edu/Documents/in/Fiscal_policy?f_ri=21198","nofollow":true},{"id":399940,"name":"Direct Tax","url":"https://www.academia.edu/Documents/in/Direct_Tax?f_ri=21198","nofollow":true},{"id":578794,"name":"Tax buoyancy","url":"https://www.academia.edu/Documents/in/Tax_buoyancy?f_ri=21198"},{"id":771200,"name":"INDIRECT TAX","url":"https://www.academia.edu/Documents/in/INDIRECT_TAX?f_ri=21198"},{"id":3236395,"name":"Non-tax revenue","url":"https://www.academia.edu/Documents/in/Non-tax_revenue?f_ri=21198"}]}, }) } })();</script></ul></li></ul></div></div><div class="u-borderBottom1 u-borderColorGrayLighter"><div class="clearfix u-pv7x u-mb0x js-work-card work_34893815" data-work_id="34893815" itemscope="itemscope" itemtype="https://schema.org/ScholarlyArticle"><div class="header"><div class="title u-fontSerif u-fs22 u-lineHeight1_3"><a class="u-tcGrayDarkest js-work-link" href="https://www.academia.edu/34893815/Vergi_Teorisi_ve_Politikas%C4%B1_%C3%9C%C3%A7%C3%BCnc%C3%BC_Bask%C4%B1">Vergi Teorisi ve Politikası/Üçüncü Baskı</a></div></div><div class="u-pb4x u-mt3x"></div><ul class="InlineList u-ph0x u-fs13"><li class="InlineList-item logged_in_only"><div class="share_on_academia_work_button"><a class="academia_share Button Button--inverseBlue Button--sm js-bookmark-button" data-academia-share="Work/34893815" data-share-source="work_strip" data-spinner="small_white_hide_contents"><i class="fa fa-plus"></i><span class="work-strip-link-text u-ml1x" data-content="button_text">Bookmark</span></a></div></li><li class="InlineList-item"><div class="download"><a id="d157a77b7f369994132acccf06ff94ef" rel="nofollow" data-download="{"attachment_id":54754272,"asset_id":34893815,"asset_type":"Work","always_allow_download":false,"track":null,"button_location":"work_strip","source":null,"hide_modal":null}" class="Button Button--sm Button--inverseGreen js-download-button prompt_button doc_download" href="https://www.academia.edu/attachments/54754272/download_file?st=MTc0MDE1MDU5MSw4LjIyMi4yMDguMTQ2&s=work_strip"><i class="fa fa-arrow-circle-o-down fa-lg"></i><span class="u-textUppercase u-ml1x" data-content="button_text">Download</span></a></div></li><li class="InlineList-item"><ul class="InlineList InlineList--bordered u-ph0x"><li class="InlineList-item InlineList-item--bordered"><span class="InlineList-item-text">by <span itemscope="itemscope" itemprop="author" itemtype="https://schema.org/Person"><a class="u-tcGrayDark u-fw700" data-has-card-for-user="23953643" href="https://sayistay.academia.edu/huseyinsen">Hüseyin Şen</a><script data-card-contents-for-user="23953643" type="text/json">{"id":23953643,"first_name":"Hüseyin","last_name":"Şen","domain_name":"sayistay","page_name":"huseyinsen","display_name":"Hüseyin Şen","profile_url":"https://sayistay.academia.edu/huseyinsen?f_ri=21198","photo":"https://0.academia-photos.com/23953643/18955619/86521867/s65_h_seyin._en.jpg"}</script></span></span></li><li class="js-paper-rank-work_34893815 InlineList-item InlineList-item--bordered hidden"><span class="js-paper-rank-view hidden u-tcGrayDark" data-paper-rank-work-id="34893815"><i class="u-m1x fa fa-bar-chart"></i><strong class="js-paper-rank"></strong></span><script>$(function() { new Works.PaperRankView({ workId: 34893815, container: ".js-paper-rank-work_34893815", }); 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Depending on the experience in different countries, the negative impact on economic indicators mostly occurs... <a class="more_link u-tcGrayDark u-linkUnstyled" data-container=".work_41404789" data-show=".complete" data-hide=".summarized" data-more-link-behavior="true" href="#">more</a></div><div class="complete hidden">Natural disasters such as earthquakes, floods, massive fires etc. inflict serious damage and so seem to be bad for the economy. <br /><br />Depending on the experience in different countries, the negative impact on economic indicators mostly occurs in the short run, while in the long run these effects are transient and negligible for the economy and the state budget.<br /><br />Most noticeable is the direct impact of the natural disasters that we saw with the aftermath of the 21 September 2019 and 26 November 2019 earthquake in Albania. This effect was seen in the damage to infrastructure, the capital of businesses and individuals, and the potential future threat to the exploitation of natural resources.</div></div></div><ul class="InlineList u-ph0x u-fs13"><li class="InlineList-item logged_in_only"><div class="share_on_academia_work_button"><a class="academia_share Button Button--inverseBlue Button--sm js-bookmark-button" data-academia-share="Work/41404789" data-share-source="work_strip" data-spinner="small_white_hide_contents"><i class="fa fa-plus"></i><span class="work-strip-link-text u-ml1x" data-content="button_text">Bookmark</span></a></div></li><li class="InlineList-item"><div class="download"><a id="7b835dc89efc11aaeb36a06a92ef630e" rel="nofollow" data-download="{"attachment_id":61592456,"asset_id":41404789,"asset_type":"Work","always_allow_download":false,"track":null,"button_location":"work_strip","source":null,"hide_modal":null}" class="Button Button--sm Button--inverseGreen js-download-button prompt_button doc_download" href="https://www.academia.edu/attachments/61592456/download_file?st=MTc0MDE1MDU5MSw4LjIyMi4yMDguMTQ2&s=work_strip"><i class="fa fa-arrow-circle-o-down fa-lg"></i><span class="u-textUppercase u-ml1x" data-content="button_text">Download</span></a></div></li><li class="InlineList-item"><ul class="InlineList InlineList--bordered u-ph0x"><li class="InlineList-item InlineList-item--bordered"><span class="InlineList-item-text">by <span itemscope="itemscope" itemprop="author" itemtype="https://schema.org/Person"><a class="u-tcGrayDark u-fw700" data-has-card-for-user="20338790" href="https://independent.academia.edu/EGjokutaj">Eduart Gjokutaj</a><script data-card-contents-for-user="20338790" type="text/json">{"id":20338790,"first_name":"Eduart","last_name":"Gjokutaj","domain_name":"independent","page_name":"EGjokutaj","display_name":"Eduart Gjokutaj","profile_url":"https://independent.academia.edu/EGjokutaj?f_ri=21198","photo":"https://0.academia-photos.com/20338790/6081581/67734122/s65_eduart.gjokutaj.jpg"}</script></span></span></li><li class="js-paper-rank-work_41404789 InlineList-item InlineList-item--bordered hidden"><span class="js-paper-rank-view hidden u-tcGrayDark" data-paper-rank-work-id="41404789"><i class="u-m1x fa fa-bar-chart"></i><strong class="js-paper-rank"></strong></span><script>$(function() { new Works.PaperRankView({ workId: 41404789, container: ".js-paper-rank-work_41404789", }); 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$(".js-view-count[data-work-id=41404789]").text(description); $(".js-view-count-work_41404789").attr('title', description).tooltip(); }); });</script></span><script>$(function() { $(".js-view-count-work_41404789").removeClass('hidden') })</script></div></li><li class="InlineList-item u-positionRelative" style="max-width: 250px"><div class="u-positionAbsolute" data-has-card-for-ri-list="41404789"><i class="fa fa-tag InlineList-item-icon u-positionRelative"></i>  <a class="InlineList-item-text u-positionRelative">5</a>  </div><span class="InlineList-item-text u-textTruncate u-pl9x"><a class="InlineList-item-text" data-has-card-for-ri="8358" rel="nofollow" href="https://www.academia.edu/Documents/in/Public_Budgeting_and_Finance">Public Budgeting and Finance</a>, <script data-card-contents-for-ri="8358" type="text/json">{"id":8358,"name":"Public Budgeting and Finance","url":"https://www.academia.edu/Documents/in/Public_Budgeting_and_Finance?f_ri=21198","nofollow":true}</script><a class="InlineList-item-text" data-has-card-for-ri="21198" rel="nofollow" href="https://www.academia.edu/Documents/in/Fiscal_policy">Fiscal policy</a>, <script data-card-contents-for-ri="21198" type="text/json">{"id":21198,"name":"Fiscal policy","url":"https://www.academia.edu/Documents/in/Fiscal_policy?f_ri=21198","nofollow":true}</script><a class="InlineList-item-text" data-has-card-for-ri="42234" rel="nofollow" href="https://www.academia.edu/Documents/in/Natural_Disasters">Natural Disasters</a>, <script data-card-contents-for-ri="42234" type="text/json">{"id":42234,"name":"Natural Disasters","url":"https://www.academia.edu/Documents/in/Natural_Disasters?f_ri=21198","nofollow":true}</script><a class="InlineList-item-text" data-has-card-for-ri="42734" rel="nofollow" href="https://www.academia.edu/Documents/in/Albania">Albania</a><script data-card-contents-for-ri="42734" type="text/json">{"id":42734,"name":"Albania","url":"https://www.academia.edu/Documents/in/Albania?f_ri=21198","nofollow":true}</script></span></li><script>(function(){ if (true) { new Aedu.ResearchInterestListCard({ el: $('*[data-has-card-for-ri-list=41404789]'), work: {"id":41404789,"title":"NATURAL DISASTERS -FINANCIAL AND FISCAL EFFECTS, POLICY AND EXPERIENCE FOR TACKLING THEM","created_at":"2019-12-23T13:05:09.380-08:00","url":"https://www.academia.edu/41404789/NATURAL_DISASTERS_FINANCIAL_AND_FISCAL_EFFECTS_POLICY_AND_EXPERIENCE_FOR_TACKLING_THEM?f_ri=21198","dom_id":"work_41404789","summary":"Natural disasters such as earthquakes, floods, massive fires etc. inflict serious damage and so seem to be bad for the economy. \n\nDepending on the experience in different countries, the negative impact on economic indicators mostly occurs in the short run, while in the long run these effects are transient and negligible for the economy and the state budget.\n\nMost noticeable is the direct impact of the natural disasters that we saw with the aftermath of the 21 September 2019 and 26 November 2019 earthquake in Albania. This effect was seen in the damage to infrastructure, the capital of businesses and individuals, and the potential future threat to the exploitation of natural resources.","downloadable_attachments":[{"id":61592456,"asset_id":41404789,"asset_type":"Work","always_allow_download":false}],"ordered_authors":[{"id":20338790,"first_name":"Eduart","last_name":"Gjokutaj","domain_name":"independent","page_name":"EGjokutaj","display_name":"Eduart Gjokutaj","profile_url":"https://independent.academia.edu/EGjokutaj?f_ri=21198","photo":"https://0.academia-photos.com/20338790/6081581/67734122/s65_eduart.gjokutaj.jpg"}],"research_interests":[{"id":8358,"name":"Public Budgeting and Finance","url":"https://www.academia.edu/Documents/in/Public_Budgeting_and_Finance?f_ri=21198","nofollow":true},{"id":21198,"name":"Fiscal policy","url":"https://www.academia.edu/Documents/in/Fiscal_policy?f_ri=21198","nofollow":true},{"id":42234,"name":"Natural Disasters","url":"https://www.academia.edu/Documents/in/Natural_Disasters?f_ri=21198","nofollow":true},{"id":42734,"name":"Albania","url":"https://www.academia.edu/Documents/in/Albania?f_ri=21198","nofollow":true},{"id":48971,"name":"Monetary Policy","url":"https://www.academia.edu/Documents/in/Monetary_Policy?f_ri=21198"}]}, }) } })();</script></ul></li></ul></div></div><div class="u-borderBottom1 u-borderColorGrayLighter"><div class="clearfix u-pv7x u-mb0x js-work-card work_56810241" data-work_id="56810241" itemscope="itemscope" itemtype="https://schema.org/ScholarlyArticle"><div class="header"><div class="title u-fontSerif u-fs22 u-lineHeight1_3"><a class="u-tcGrayDarkest js-work-link" href="https://www.academia.edu/56810241/How_Do_Sovereigns_Get_into_Trouble">How Do Sovereigns Get into Trouble?</a></div></div><div class="u-pb4x u-mt3x"><div class="summary u-fs14 u-fw300 u-lineHeight1_5 u-tcGrayDarkest"><div class="summarized">Since fiscal rules are not a panacea, and all of the economic, political, and financial forces that impact on sovereign creditworthiness cannot possibly be controlled, chances are that some governments will encounter debt-servicing... <a class="more_link u-tcGrayDark u-linkUnstyled" data-container=".work_56810241" data-show=".complete" data-hide=".summarized" data-more-link-behavior="true" href="#">more</a></div><div class="complete hidden">Since fiscal rules are not a panacea, and all of the economic, political, and financial forces that impact on sovereign creditworthiness cannot possibly be controlled, chances are that some governments will encounter debt-servicing difficulties when they least expect it. Certainly, to the extent that nations adhere to market-friendly policies that foster investor confidence and prosperity, and generate the budgetary revenues, export earnings, and capital inflows necessary to keep servicing debt obligations, their fiscal resilience will be enhanced. Sound liability-management practices can also make a major contribution to creditworthiness, because when the public debt exhibits a risk-averse currency, interest rate, and maturity structure, it should be able to withstand the temporary harm done by a natural disaster, or a sudden deterioration in financial market conditions or the terms of foreign trade. And last, but not least, prudential regulations, and sensible monetary and exchange rate policies, can make a major difference in terms of minimizing contingent liabilities arising out of the banking system, state-owned enterprises, and other risk pockets in the economy, thereby preventing a destabilizing jump in the public debt. These are the lessons from painful experience.</div></div></div><ul class="InlineList u-ph0x u-fs13"><li class="InlineList-item logged_in_only"><div class="share_on_academia_work_button"><a class="academia_share Button Button--inverseBlue Button--sm js-bookmark-button" data-academia-share="Work/56810241" data-share-source="work_strip" data-spinner="small_white_hide_contents"><i class="fa fa-plus"></i><span class="work-strip-link-text u-ml1x" data-content="button_text">Bookmark</span></a></div></li><li class="InlineList-item"><div class="download"><a id="66587aa1c3cbef7e2570365a7fe2828d" rel="nofollow" data-download="{"attachment_id":72028047,"asset_id":56810241,"asset_type":"Work","always_allow_download":false,"track":null,"button_location":"work_strip","source":null,"hide_modal":null}" class="Button Button--sm Button--inverseGreen js-download-button prompt_button doc_download" href="https://www.academia.edu/attachments/72028047/download_file?st=MTc0MDE1MDU5MSw4LjIyMi4yMDguMTQ2&s=work_strip"><i class="fa fa-arrow-circle-o-down fa-lg"></i><span class="u-textUppercase u-ml1x" data-content="button_text">Download</span></a></div></li><li class="InlineList-item"><ul class="InlineList InlineList--bordered u-ph0x"><li class="InlineList-item InlineList-item--bordered"><span class="InlineList-item-text">by <span itemscope="itemscope" itemprop="author" itemtype="https://schema.org/Person"><a class="u-tcGrayDark u-fw700" data-has-card-for-user="10759271" href="https://american.academia.edu/ArturoPorzecanski">Arturo Porzecanski</a><script data-card-contents-for-user="10759271" type="text/json">{"id":10759271,"first_name":"Arturo","last_name":"Porzecanski","domain_name":"american","page_name":"ArturoPorzecanski","display_name":"Arturo Porzecanski","profile_url":"https://american.academia.edu/ArturoPorzecanski?f_ri=21198","photo":"https://0.academia-photos.com/10759271/18258199/18231783/s65_arturo.porzecanski.jpg"}</script></span></span></li><li class="js-paper-rank-work_56810241 InlineList-item InlineList-item--bordered hidden"><span class="js-paper-rank-view hidden u-tcGrayDark" data-paper-rank-work-id="56810241"><i class="u-m1x fa fa-bar-chart"></i><strong class="js-paper-rank"></strong></span><script>$(function() { new Works.PaperRankView({ workId: 56810241, container: ".js-paper-rank-work_56810241", }); 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Certainly, to the extent that nations adhere to market-friendly policies that foster investor confidence and prosperity, and generate the budgetary revenues, export earnings, and capital inflows necessary to keep servicing debt obligations, their fiscal resilience will be enhanced. Sound liability-management practices can also make a major contribution to creditworthiness, because when the public debt exhibits a risk-averse currency, interest rate, and maturity structure, it should be able to withstand the temporary harm done by a natural disaster, or a sudden deterioration in financial market conditions or the terms of foreign trade. And last, but not least, prudential regulations, and sensible monetary and exchange rate policies, can make a major difference in terms of minimizing contingent liabilities arising out of the banking system, state-owned enterprises, and other risk pockets in the economy, thereby preventing a destabilizing jump in the public debt. These are the lessons from painful experience.","downloadable_attachments":[{"id":72028047,"asset_id":56810241,"asset_type":"Work","always_allow_download":false}],"ordered_authors":[{"id":10759271,"first_name":"Arturo","last_name":"Porzecanski","domain_name":"american","page_name":"ArturoPorzecanski","display_name":"Arturo Porzecanski","profile_url":"https://american.academia.edu/ArturoPorzecanski?f_ri=21198","photo":"https://0.academia-photos.com/10759271/18258199/18231783/s65_arturo.porzecanski.jpg"}],"research_interests":[{"id":735,"name":"International Economics","url":"https://www.academia.edu/Documents/in/International_Economics?f_ri=21198","nofollow":true},{"id":21198,"name":"Fiscal policy","url":"https://www.academia.edu/Documents/in/Fiscal_policy?f_ri=21198","nofollow":true},{"id":25116,"name":"International Finance","url":"https://www.academia.edu/Documents/in/International_Finance?f_ri=21198","nofollow":true},{"id":28439,"name":"Fiscal Policy and debt Management","url":"https://www.academia.edu/Documents/in/Fiscal_Policy_and_debt_Management?f_ri=21198","nofollow":true},{"id":37023,"name":"Sovereign Debt","url":"https://www.academia.edu/Documents/in/Sovereign_Debt?f_ri=21198"},{"id":357814,"name":"Default","url":"https://www.academia.edu/Documents/in/Default?f_ri=21198"}]}, }) } })();</script></ul></li></ul></div></div><div class="u-borderBottom1 u-borderColorGrayLighter"><div class="clearfix u-pv7x u-mb0x js-work-card work_44539631" data-work_id="44539631" itemscope="itemscope" itemtype="https://schema.org/ScholarlyArticle"><div class="header"><div class="title u-fontSerif u-fs22 u-lineHeight1_3"><a class="u-tcGrayDarkest js-work-link" href="https://www.academia.edu/44539631/NALAS_Statistical_Brief_Local_Government_Finance_Indicators_in_South_East_Europe_2nd_Ed">NALAS Statistical Brief Local Government Finance Indicators in South East Europe 2nd Ed</a></div></div><div class="u-pb4x u-mt3x"><div class="summary u-fs14 u-fw300 u-lineHeight1_5 u-tcGrayDarkest"><div class="summarized">This Statistical Brief is an ongoing effort of NALAS’ Fiscal Decentralisation Task Force to provide policy–makers and analysts with timely, accurate, relevant, reliable and comparable data on local government finance in South–East Europe... <a class="more_link u-tcGrayDark u-linkUnstyled" data-container=".work_44539631" data-show=".complete" data-hide=".summarized" data-more-link-behavior="true" href="#">more</a></div><div class="complete hidden">This Statistical Brief is an ongoing effort of NALAS’ Fiscal Decentralisation Task Force to provide policy–makers and analysts with timely, accurate, relevant, reliable and comparable data on local government finance in South–East Europe (SEE). <br /><br />The report is structured in three main sections. The first part provides an overview of the size and structure of local governments in SEE. The second part provides regional comparisons on the status and development of national and local government finance in SEE in 2019. The data are provided in different formats, allowing much more comparisons and further utilization by users. The 2019 local government finance data bear a significant importance as serve as the baseline against which the impact of the COVID-19 pandemics will be measured in the coming years. <br />The third section shows the patters and evolution of national and local government revenues and expenditures for the period 2006-2019 in each of the SEE economies through selected indicators of macro–economic performance and fiscal decentralisation.<br />For additional information contact us at <a href="mailto:info@nalas.eu" rel="nofollow">info@nalas.eu</a> and <a href="mailto:stafa@nalas.eu" rel="nofollow">stafa@nalas.eu</a>.</div></div></div><ul class="InlineList u-ph0x u-fs13"><li class="InlineList-item logged_in_only"><div class="share_on_academia_work_button"><a class="academia_share Button Button--inverseBlue Button--sm js-bookmark-button" data-academia-share="Work/44539631" data-share-source="work_strip" data-spinner="small_white_hide_contents"><i class="fa fa-plus"></i><span class="work-strip-link-text u-ml1x" data-content="button_text">Bookmark</span></a></div></li><li class="InlineList-item"><div class="download"><a id="3e9071dad5b8a296ae21122a88a46276" rel="nofollow" data-download="{"attachment_id":64987237,"asset_id":44539631,"asset_type":"Work","always_allow_download":false,"track":null,"button_location":"work_strip","source":null,"hide_modal":null}" class="Button Button--sm Button--inverseGreen js-download-button prompt_button doc_download" href="https://www.academia.edu/attachments/64987237/download_file?st=MTc0MDE1MDU5MSw4LjIyMi4yMDguMTQ2&s=work_strip"><i class="fa fa-arrow-circle-o-down fa-lg"></i><span class="u-textUppercase u-ml1x" data-content="button_text">Download</span></a></div></li><li class="InlineList-item"><ul class="InlineList InlineList--bordered u-ph0x"><li class="InlineList-item InlineList-item--bordered"><span class="InlineList-item-text">by <span itemscope="itemscope" itemprop="author" itemtype="https://schema.org/Person"><a class="u-tcGrayDark u-fw700" data-has-card-for-user="101057032" href="https://independent.academia.edu/wwwnalaseu">NALAS - Network of Associations of Local Authorities of South-East Europe</a><script data-card-contents-for-user="101057032" type="text/json">{"id":101057032,"first_name":"NALAS","last_name":"- Network of Associations of Local Authorities of South-East Europe","domain_name":"independent","page_name":"wwwnalaseu","display_name":"NALAS - Network of Associations of Local Authorities of South-East Europe","profile_url":"https://independent.academia.edu/wwwnalaseu?f_ri=21198","photo":"https://0.academia-photos.com/101057032/46308490/35825976/s65_nalas.-_network_of_associations_of_local_authorities_of_south-east_europe.png"}</script></span></span></li><li class="js-paper-rank-work_44539631 InlineList-item InlineList-item--bordered hidden"><span class="js-paper-rank-view hidden u-tcGrayDark" data-paper-rank-work-id="44539631"><i class="u-m1x fa fa-bar-chart"></i><strong class="js-paper-rank"></strong></span><script>$(function() { new Works.PaperRankView({ workId: 44539631, container: ".js-paper-rank-work_44539631", }); 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The first part provides an overview of the size and structure of local governments in SEE. The second part provides regional comparisons on the status and development of national and local government finance in SEE in 2019. The data are provided in different formats, allowing much more comparisons and further utilization by users. The 2019 local government finance data bear a significant importance as serve as the baseline against which the impact of the COVID-19 pandemics will be measured in the coming years. \nThe third section shows the patters and evolution of national and local government revenues and expenditures for the period 2006-2019 in each of the SEE economies through selected indicators of macro–economic performance and fiscal decentralisation.\nFor additional information contact us at info@nalas.eu and stafa@nalas.eu. \n","downloadable_attachments":[{"id":64987237,"asset_id":44539631,"asset_type":"Work","always_allow_download":false}],"ordered_authors":[{"id":101057032,"first_name":"NALAS","last_name":"- Network of Associations of Local Authorities of South-East Europe","domain_name":"independent","page_name":"wwwnalaseu","display_name":"NALAS - Network of Associations of Local Authorities of South-East Europe","profile_url":"https://independent.academia.edu/wwwnalaseu?f_ri=21198","photo":"https://0.academia-photos.com/101057032/46308490/35825976/s65_nalas.-_network_of_associations_of_local_authorities_of_south-east_europe.png"}],"research_interests":[{"id":5102,"name":"Regional and Local Governance","url":"https://www.academia.edu/Documents/in/Regional_and_Local_Governance?f_ri=21198","nofollow":true},{"id":5938,"name":"Local Government","url":"https://www.academia.edu/Documents/in/Local_Government?f_ri=21198","nofollow":true},{"id":8315,"name":"Local Government and Local Development","url":"https://www.academia.edu/Documents/in/Local_Government_and_Local_Development?f_ri=21198","nofollow":true},{"id":9415,"name":"Fiscal federalism and decentralization","url":"https://www.academia.edu/Documents/in/Fiscal_federalism_and_decentralization?f_ri=21198","nofollow":true},{"id":10054,"name":"State And Local Public Finance","url":"https://www.academia.edu/Documents/in/State_And_Local_Public_Finance?f_ri=21198"},{"id":21198,"name":"Fiscal policy","url":"https://www.academia.edu/Documents/in/Fiscal_policy?f_ri=21198"},{"id":105213,"name":"Local Goverment and Local Development","url":"https://www.academia.edu/Documents/in/Local_Goverment_and_Local_Development?f_ri=21198"},{"id":530198,"name":"Local Finance","url":"https://www.academia.edu/Documents/in/Local_Finance?f_ri=21198"},{"id":816737,"name":"Local Finance and Governmental Science","url":"https://www.academia.edu/Documents/in/Local_Finance_and_Governmental_Science?f_ri=21198"}]}, }) } })();</script></ul></li></ul></div></div><div class="u-borderBottom1 u-borderColorGrayLighter"><div class="clearfix u-pv7x u-mb0x js-work-card work_528278" data-work_id="528278" itemscope="itemscope" itemtype="https://schema.org/ScholarlyArticle"><div class="header"><div class="title u-fontSerif u-fs22 u-lineHeight1_3"><a class="u-tcGrayDarkest js-work-link" href="https://www.academia.edu/528278/Negotiating_Fiscal_Sustainability_against_Socio_Economic_Development_A_Model_Based_Policy_Analysis">Negotiating Fiscal Sustainability against Socio-Economic Development: A Model-Based Policy Analysis</a></div></div><div class="u-pb4x u-mt3x"></div><ul class="InlineList u-ph0x u-fs13"><li class="InlineList-item logged_in_only"><div class="share_on_academia_work_button"><a class="academia_share Button Button--inverseBlue Button--sm js-bookmark-button" data-academia-share="Work/528278" data-share-source="work_strip" data-spinner="small_white_hide_contents"><i class="fa fa-plus"></i><span class="work-strip-link-text u-ml1x" data-content="button_text">Bookmark</span></a></div></li><li class="InlineList-item"><div class="download"><a id="67b5cd31b751c1724db7ec02bb1038ef" rel="nofollow" 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$('*[data-has-card-for-ri-list=528278]'), work: {"id":528278,"title":"Negotiating Fiscal Sustainability against Socio-Economic Development: A Model-Based Policy Analysis","created_at":"2011-04-13T18:56:42.313-07:00","url":"https://www.academia.edu/528278/Negotiating_Fiscal_Sustainability_against_Socio_Economic_Development_A_Model_Based_Policy_Analysis?f_ri=21198","dom_id":"work_528278","summary":null,"downloadable_attachments":[{"id":3460304,"asset_id":528278,"asset_type":"Work","always_allow_download":false}],"ordered_authors":[{"id":230592,"first_name":"John Pastor","last_name":"Ansah","domain_name":"duke-nus","page_name":"JohnPastorAnsah","display_name":"John Pastor Ansah","profile_url":"https://duke-nus.academia.edu/JohnPastorAnsah?f_ri=21198","photo":"https://0.academia-photos.com/230592/236640/279128/s65_john_pastor.ansah.jpg"}],"research_interests":[{"id":11395,"name":"Economic 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href="#">more</a></div><div class="complete hidden">Background Despite the increasing evidence that income inequality causes reductions in life expectancy in developed countries, this relationship has not been explored in the United Kingdom, where local income data are not routinely available. We have surmounted this problem by employing an ecological design which applies national income data to local mortality and occupational data.</div></div></div><ul class="InlineList u-ph0x u-fs13"><li class="InlineList-item logged_in_only"><div class="share_on_academia_work_button"><a class="academia_share Button Button--inverseBlue Button--sm js-bookmark-button" data-academia-share="Work/4219866" data-share-source="work_strip" data-spinner="small_white_hide_contents"><i class="fa fa-plus"></i><span class="work-strip-link-text u-ml1x" data-content="button_text">Bookmark</span></a></div></li><li class="InlineList-item"><div class="download"><a id="f1b1c8533adfd8dff3fd2b000d6dde3c" rel="nofollow" data-download="{"attachment_id":31707963,"asset_id":4219866,"asset_type":"Work","always_allow_download":false,"track":null,"button_location":"work_strip","source":null,"hide_modal":null}" class="Button Button--sm Button--inverseGreen js-download-button prompt_button doc_download" href="https://www.academia.edu/attachments/31707963/download_file?st=MTc0MDE1MDU5MSw4LjIyMi4yMDguMTQ2&s=work_strip"><i class="fa fa-arrow-circle-o-down fa-lg"></i><span class="u-textUppercase u-ml1x" data-content="button_text">Download</span></a></div></li><li class="InlineList-item"><ul class="InlineList InlineList--bordered u-ph0x"><li class="InlineList-item InlineList-item--bordered"><span class="InlineList-item-text">by <span itemscope="itemscope" itemprop="author" itemtype="https://schema.org/Person"><a class="u-tcGrayDark u-fw700" data-has-card-for-user="5107691" href="https://liverpool.academia.edu/AlexScottSamuel">Alex Scott-Samuel</a><script data-card-contents-for-user="5107691" type="text/json">{"id":5107691,"first_name":"Alex","last_name":"Scott-Samuel","domain_name":"liverpool","page_name":"AlexScottSamuel","display_name":"Alex Scott-Samuel","profile_url":"https://liverpool.academia.edu/AlexScottSamuel?f_ri=21198","photo":"/images/s65_no_pic.png"}</script></span></span></li><li class="js-paper-rank-work_4219866 InlineList-item InlineList-item--bordered hidden"><span class="js-paper-rank-view hidden u-tcGrayDark" data-paper-rank-work-id="4219866"><i class="u-m1x fa fa-bar-chart"></i><strong class="js-paper-rank"></strong></span><script>$(function() { new Works.PaperRankView({ workId: 4219866, container: ".js-paper-rank-work_4219866", }); 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We stress the study of... <a class="more_link u-tcGrayDark u-linkUnstyled" data-container=".work_30440855" data-show=".complete" data-hide=".summarized" data-more-link-behavior="true" href="#">more</a></div><div class="complete hidden">We quantify the effects on poverty and income distribution in Ecuador of bilateral trade liberalization with the US and a budget-neutral value added tax increase which seeks to compensate tariff revenue losses. We stress the study of fiscal policies that the government could tap in order to compensate for tariff revenue loss. This is a very important issue for Ecuador because this country adopted the US dollar as its currency in 2000, forgiving the use of important policy instruments. To study these issues we combine a reduced-form micro household income and occupational choice model (using 2005/6 data from the Ecuadorian LSMS) with a standard single-country computable general equilibrium model (employing a 2004 SAM). We follow a sequential approach that simulates the full distributional impact of trade and tax policies. We find that the impact of these policy changes on extreme poverty and income distribution is small but positive.</div></div></div><ul class="InlineList u-ph0x u-fs13"><li class="InlineList-item logged_in_only"><div class="share_on_academia_work_button"><a class="academia_share Button Button--inverseBlue Button--sm js-bookmark-button" data-academia-share="Work/30440855" data-share-source="work_strip" data-spinner="small_white_hide_contents"><i class="fa fa-plus"></i><span class="work-strip-link-text u-ml1x" data-content="button_text">Bookmark</span></a></div></li><li class="InlineList-item"><div class="download"><a id="8245b5a5b546d994857001abd40a88dc" rel="nofollow" data-download="{"attachment_id":50883135,"asset_id":30440855,"asset_type":"Work","always_allow_download":false,"track":null,"button_location":"work_strip","source":null,"hide_modal":null}" class="Button Button--sm Button--inverseGreen js-download-button prompt_button doc_download" href="https://www.academia.edu/attachments/50883135/download_file?st=MTc0MDE1MDU5MSw4LjIyMi4yMDguMTQ2&s=work_strip"><i class="fa fa-arrow-circle-o-down fa-lg"></i><span class="u-textUppercase u-ml1x" data-content="button_text">Download</span></a></div></li><li class="InlineList-item"><ul class="InlineList InlineList--bordered u-ph0x"><li class="InlineList-item InlineList-item--bordered"><span class="InlineList-item-text">by <span itemscope="itemscope" itemprop="author" itemtype="https://schema.org/Person"><a class="u-tcGrayDark u-fw700" data-has-card-for-user="58029186" href="https://urosario.academia.edu/RArguello">Ricardo Arguello</a><script data-card-contents-for-user="58029186" type="text/json">{"id":58029186,"first_name":"Ricardo","last_name":"Arguello","domain_name":"urosario","page_name":"RArguello","display_name":"Ricardo Arguello","profile_url":"https://urosario.academia.edu/RArguello?f_ri=21198","photo":"/images/s65_no_pic.png"}</script></span></span></li><li class="js-paper-rank-work_30440855 InlineList-item InlineList-item--bordered hidden"><span class="js-paper-rank-view hidden u-tcGrayDark" data-paper-rank-work-id="30440855"><i class="u-m1x fa fa-bar-chart"></i><strong class="js-paper-rank"></strong></span><script>$(function() { new Works.PaperRankView({ workId: 30440855, container: ".js-paper-rank-work_30440855", }); 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We stress the study of fiscal policies that the government could tap in order to compensate for tariff revenue loss. This is a very important issue for Ecuador because this country adopted the US dollar as its currency in 2000, forgiving the use of important policy instruments. To study these issues we combine a reduced-form micro household income and occupational choice model (using 2005/6 data from the Ecuadorian LSMS) with a standard single-country computable general equilibrium model (employing a 2004 SAM). We follow a sequential approach that simulates the full distributional impact of trade and tax policies. We find that the impact of these policy changes on extreme poverty and income distribution is small but positive.","downloadable_attachments":[{"id":50883135,"asset_id":30440855,"asset_type":"Work","always_allow_download":false}],"ordered_authors":[{"id":58029186,"first_name":"Ricardo","last_name":"Arguello","domain_name":"urosario","page_name":"RArguello","display_name":"Ricardo Arguello","profile_url":"https://urosario.academia.edu/RArguello?f_ri=21198","photo":"/images/s65_no_pic.png"}],"research_interests":[{"id":12175,"name":"Tax Policy","url":"https://www.academia.edu/Documents/in/Tax_Policy?f_ri=21198","nofollow":true},{"id":21198,"name":"Fiscal policy","url":"https://www.academia.edu/Documents/in/Fiscal_policy?f_ri=21198","nofollow":true},{"id":25220,"name":"Income Distribution","url":"https://www.academia.edu/Documents/in/Income_Distribution?f_ri=21198","nofollow":true},{"id":44391,"name":"Policy Change","url":"https://www.academia.edu/Documents/in/Policy_Change?f_ri=21198","nofollow":true},{"id":179873,"name":"Value Added Tax","url":"https://www.academia.edu/Documents/in/Value_Added_Tax?f_ri=21198"},{"id":233014,"name":"DOCUMENTOS DE TRABAJO SOCIAL","url":"https://www.academia.edu/Documents/in/DOCUMENTOS_DE_TRABAJO_SOCIAL?f_ri=21198"},{"id":557162,"name":"Bilateral trade","url":"https://www.academia.edu/Documents/in/Bilateral_trade?f_ri=21198"},{"id":763308,"name":"Occupational Choice","url":"https://www.academia.edu/Documents/in/Occupational_Choice?f_ri=21198"}]}, }) } })();</script></ul></li></ul></div></div><div class="u-borderBottom1 u-borderColorGrayLighter"><div class="clearfix u-pv7x u-mb0x js-work-card work_14341134" data-work_id="14341134" itemscope="itemscope" itemtype="https://schema.org/ScholarlyArticle"><div class="header"><div class="title u-fontSerif u-fs22 u-lineHeight1_3"><a class="u-tcGrayDarkest js-work-link" href="https://www.academia.edu/14341134/Optimal_taxation_of_capital_income_with_imperfectly_competitive_product_markets">Optimal taxation of capital income with imperfectly competitive product markets</a></div></div><div class="u-pb4x u-mt3x"><div class="summary u-fs14 u-fw300 u-lineHeight1_5 u-tcGrayDarkest"><div class="summarized">The zero limiting capital tax result is also discussed by Arrow and Kurz (1970, pp. 191}203) in the context of a neoclassical growth model with inelastic labor supply and productive public expenditures. 0165-1889/99/$ -see front matter... <a class="more_link u-tcGrayDark u-linkUnstyled" data-container=".work_14341134" data-show=".complete" data-hide=".summarized" data-more-link-behavior="true" href="#">more</a></div><div class="complete hidden">The zero limiting capital tax result is also discussed by Arrow and Kurz (1970, pp. 191}203) in the context of a neoclassical growth model with inelastic labor supply and productive public expenditures. 0165-1889/99/$ -see front matter 1999 Elsevier Science B.V. All rights reserved. PII: S 0 1 6 5 -1 8 8 9 ( 9 8 ) 0 0 0 4 7 -5</div></div></div><ul class="InlineList u-ph0x u-fs13"><li class="InlineList-item logged_in_only"><div class="share_on_academia_work_button"><a class="academia_share Button Button--inverseBlue Button--sm js-bookmark-button" data-academia-share="Work/14341134" data-share-source="work_strip" data-spinner="small_white_hide_contents"><i class="fa fa-plus"></i><span class="work-strip-link-text u-ml1x" data-content="button_text">Bookmark</span></a></div></li><li class="InlineList-item"><div class="download"><a id="77668020eea4a979d913c9c36120c591" rel="nofollow" data-download="{"attachment_id":44305684,"asset_id":14341134,"asset_type":"Work","always_allow_download":false,"track":null,"button_location":"work_strip","source":null,"hide_modal":null}" class="Button Button--sm Button--inverseGreen js-download-button prompt_button doc_download" href="https://www.academia.edu/attachments/44305684/download_file?st=MTc0MDE1MDU5MSw4LjIyMi4yMDguMTQ2&s=work_strip"><i class="fa fa-arrow-circle-o-down fa-lg"></i><span class="u-textUppercase u-ml1x" data-content="button_text">Download</span></a></div></li><li class="InlineList-item"><ul class="InlineList InlineList--bordered u-ph0x"><li class="InlineList-item InlineList-item--bordered"><span class="InlineList-item-text">by <span itemscope="itemscope" itemprop="author" itemtype="https://schema.org/Person"><a class="u-tcGrayDark u-fw700" data-has-card-for-user="33290102" href="https://ucriverside.academia.edu/JangtingGuo">Jang-Ting Guo</a><script data-card-contents-for-user="33290102" type="text/json">{"id":33290102,"first_name":"Jang-Ting","last_name":"Guo","domain_name":"ucriverside","page_name":"JangtingGuo","display_name":"Jang-Ting Guo","profile_url":"https://ucriverside.academia.edu/JangtingGuo?f_ri=21198","photo":"/images/s65_no_pic.png"}</script></span></span></li><li class="js-paper-rank-work_14341134 InlineList-item InlineList-item--bordered hidden"><span class="js-paper-rank-view hidden u-tcGrayDark" data-paper-rank-work-id="14341134"><i class="u-m1x fa fa-bar-chart"></i><strong class="js-paper-rank"></strong></span><script>$(function() { new Works.PaperRankView({ workId: 14341134, container: ".js-paper-rank-work_14341134", }); 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All rights reserved. PII: S 0 1 6 5 -1 8 8 9 ( 9 8 ) 0 0 0 4 7 -5","downloadable_attachments":[{"id":44305684,"asset_id":14341134,"asset_type":"Work","always_allow_download":false}],"ordered_authors":[{"id":33290102,"first_name":"Jang-Ting","last_name":"Guo","domain_name":"ucriverside","page_name":"JangtingGuo","display_name":"Jang-Ting Guo","profile_url":"https://ucriverside.academia.edu/JangtingGuo?f_ri=21198","photo":"/images/s65_no_pic.png"}],"research_interests":[{"id":6208,"name":"Economic Theory","url":"https://www.academia.edu/Documents/in/Economic_Theory?f_ri=21198","nofollow":true},{"id":21198,"name":"Fiscal policy","url":"https://www.academia.edu/Documents/in/Fiscal_policy?f_ri=21198","nofollow":true},{"id":27659,"name":"Applied Economics","url":"https://www.academia.edu/Documents/in/Applied_Economics?f_ri=21198","nofollow":true},{"id":121035,"name":"Profitability","url":"https://www.academia.edu/Documents/in/Profitability?f_ri=21198","nofollow":true},{"id":198019,"name":"Government expenditure","url":"https://www.academia.edu/Documents/in/Government_expenditure?f_ri=21198"},{"id":234860,"name":"Steady state","url":"https://www.academia.edu/Documents/in/Steady_state?f_ri=21198"},{"id":292820,"name":"Optimal Taxation","url":"https://www.academia.edu/Documents/in/Optimal_Taxation?f_ri=21198"},{"id":1489516,"name":"Neoclassical Growth Model","url":"https://www.academia.edu/Documents/in/Neoclassical_Growth_Model?f_ri=21198"}]}, }) } })();</script></ul></li></ul></div></div><div class="u-borderBottom1 u-borderColorGrayLighter"><div class="clearfix u-pv7x u-mb0x js-work-card work_17130238" data-work_id="17130238" itemscope="itemscope" itemtype="https://schema.org/ScholarlyArticle"><div class="header"><div class="title u-fontSerif u-fs22 u-lineHeight1_3"><a class="u-tcGrayDarkest js-work-link" href="https://www.academia.edu/17130238/Growth_effects_of_fiscal_policy_and_debt_sustainability_in_the_EU">Growth effects of fiscal policy and debt sustainability in the EU</a></div></div><div class="u-pb4x u-mt3x"><div class="summary u-fs14 u-fw300 u-lineHeight1_5 u-tcGrayDarkest"><div class="summarized">Abstract. In this paper we study the relationship of fiscal policy and economic performance of some core countries in the EU. Our aim is to find out whether public deficit and public debt have consequences for real variables in the... <a class="more_link u-tcGrayDark u-linkUnstyled" data-container=".work_17130238" data-show=".complete" data-hide=".summarized" data-more-link-behavior="true" href="#">more</a></div><div class="complete hidden">Abstract. In this paper we study the relationship of fiscal policy and economic performance of some core countries in the EU. Our aim is to find out whether public deficit and public debt have consequences for real variables in the economies we consider. The background of our ...</div></div></div><ul class="InlineList u-ph0x u-fs13"><li class="InlineList-item logged_in_only"><div class="share_on_academia_work_button"><a class="academia_share Button Button--inverseBlue Button--sm js-bookmark-button" data-academia-share="Work/17130238" data-share-source="work_strip" data-spinner="small_white_hide_contents"><i class="fa fa-plus"></i><span class="work-strip-link-text u-ml1x" data-content="button_text">Bookmark</span></a></div></li><li class="InlineList-item"><div class="download"><a id="a47ae2424145bc112b955ac854022b64" rel="nofollow" data-download="{"attachment_id":42313056,"asset_id":17130238,"asset_type":"Work","always_allow_download":false,"track":null,"button_location":"work_strip","source":null,"hide_modal":null}" class="Button Button--sm Button--inverseGreen js-download-button prompt_button doc_download" href="https://www.academia.edu/attachments/42313056/download_file?st=MTc0MDE1MDU5MSw4LjIyMi4yMDguMTQ2&s=work_strip"><i class="fa fa-arrow-circle-o-down fa-lg"></i><span class="u-textUppercase u-ml1x" data-content="button_text">Download</span></a></div></li><li class="InlineList-item"><ul class="InlineList InlineList--bordered u-ph0x"><li class="InlineList-item InlineList-item--bordered"><span class="InlineList-item-text">by <span itemscope="itemscope" itemprop="author" itemtype="https://schema.org/Person"><a class="u-tcGrayDark u-fw700" data-has-card-for-user="85141" href="https://newschool.academia.edu/WilliSemmler">Willi Semmler</a><script data-card-contents-for-user="85141" type="text/json">{"id":85141,"first_name":"Willi","last_name":"Semmler","domain_name":"newschool","page_name":"WilliSemmler","display_name":"Willi Semmler","profile_url":"https://newschool.academia.edu/WilliSemmler?f_ri=21198","photo":"https://0.academia-photos.com/85141/12246583/13637182/s65_willi.semmler.jpg"}</script></span></span></li><li class="js-paper-rank-work_17130238 InlineList-item InlineList-item--bordered hidden"><span class="js-paper-rank-view hidden u-tcGrayDark" data-paper-rank-work-id="17130238"><i class="u-m1x fa fa-bar-chart"></i><strong class="js-paper-rank"></strong></span><script>$(function() { new Works.PaperRankView({ workId: 17130238, container: ".js-paper-rank-work_17130238", }); 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$(".js-view-count[data-work-id=17130238]").text(description); $(".js-view-count-work_17130238").attr('title', description).tooltip(); }); });</script></span><script>$(function() { $(".js-view-count-work_17130238").removeClass('hidden') })</script></div></li><li class="InlineList-item u-positionRelative" style="max-width: 250px"><div class="u-positionAbsolute" data-has-card-for-ri-list="17130238"><i class="fa fa-tag InlineList-item-icon u-positionRelative"></i>  <a class="InlineList-item-text u-positionRelative">9</a>  </div><span class="InlineList-item-text u-textTruncate u-pl9x"><a class="InlineList-item-text" data-has-card-for-ri="724" rel="nofollow" href="https://www.academia.edu/Documents/in/Economics">Economics</a>, <script data-card-contents-for-ri="724" type="text/json">{"id":724,"name":"Economics","url":"https://www.academia.edu/Documents/in/Economics?f_ri=21198","nofollow":true}</script><a class="InlineList-item-text" data-has-card-for-ri="1218" rel="nofollow" href="https://www.academia.edu/Documents/in/European_integration">European integration</a>, <script data-card-contents-for-ri="1218" type="text/json">{"id":1218,"name":"European integration","url":"https://www.academia.edu/Documents/in/European_integration?f_ri=21198","nofollow":true}</script><a class="InlineList-item-text" data-has-card-for-ri="4484" rel="nofollow" href="https://www.academia.edu/Documents/in/Economic_Growth">Economic Growth</a>, <script data-card-contents-for-ri="4484" type="text/json">{"id":4484,"name":"Economic Growth","url":"https://www.academia.edu/Documents/in/Economic_Growth?f_ri=21198","nofollow":true}</script><a class="InlineList-item-text" data-has-card-for-ri="21198" rel="nofollow" href="https://www.academia.edu/Documents/in/Fiscal_policy">Fiscal policy</a><script data-card-contents-for-ri="21198" type="text/json">{"id":21198,"name":"Fiscal policy","url":"https://www.academia.edu/Documents/in/Fiscal_policy?f_ri=21198","nofollow":true}</script></span></li><script>(function(){ if (true) { new Aedu.ResearchInterestListCard({ el: $('*[data-has-card-for-ri-list=17130238]'), work: {"id":17130238,"title":"Growth effects of fiscal policy and debt sustainability in the EU","created_at":"2015-10-21T15:43:13.879-07:00","url":"https://www.academia.edu/17130238/Growth_effects_of_fiscal_policy_and_debt_sustainability_in_the_EU?f_ri=21198","dom_id":"work_17130238","summary":"Abstract. In this paper we study the relationship of fiscal policy and economic performance of some core countries in the EU. Our aim is to find out whether public deficit and public debt have consequences for real variables in the economies we consider. The background of our ...","downloadable_attachments":[{"id":42313056,"asset_id":17130238,"asset_type":"Work","always_allow_download":false}],"ordered_authors":[{"id":85141,"first_name":"Willi","last_name":"Semmler","domain_name":"newschool","page_name":"WilliSemmler","display_name":"Willi Semmler","profile_url":"https://newschool.academia.edu/WilliSemmler?f_ri=21198","photo":"https://0.academia-photos.com/85141/12246583/13637182/s65_willi.semmler.jpg"}],"research_interests":[{"id":724,"name":"Economics","url":"https://www.academia.edu/Documents/in/Economics?f_ri=21198","nofollow":true},{"id":1218,"name":"European integration","url":"https://www.academia.edu/Documents/in/European_integration?f_ri=21198","nofollow":true},{"id":4484,"name":"Economic Growth","url":"https://www.academia.edu/Documents/in/Economic_Growth?f_ri=21198","nofollow":true},{"id":21198,"name":"Fiscal policy","url":"https://www.academia.edu/Documents/in/Fiscal_policy?f_ri=21198","nofollow":true},{"id":80647,"name":"Public Debt","url":"https://www.academia.edu/Documents/in/Public_Debt?f_ri=21198"},{"id":219474,"name":"Empirical Study","url":"https://www.academia.edu/Documents/in/Empirical_Study?f_ri=21198"},{"id":1119231,"name":"Granger Causality Test","url":"https://www.academia.edu/Documents/in/Granger_Causality_Test?f_ri=21198"},{"id":1120447,"name":"Growth Model","url":"https://www.academia.edu/Documents/in/Growth_Model?f_ri=21198"},{"id":1355250,"name":"Member States","url":"https://www.academia.edu/Documents/in/Member_States?f_ri=21198"}]}, }) } })();</script></ul></li></ul></div></div><div class="u-borderBottom1 u-borderColorGrayLighter"><div class="clearfix u-pv7x u-mb0x js-work-card work_60879729" data-work_id="60879729" itemscope="itemscope" itemtype="https://schema.org/ScholarlyArticle"><div class="header"><div class="title u-fontSerif u-fs22 u-lineHeight1_3"><a class="u-tcGrayDarkest js-work-link" href="https://www.academia.edu/60879729/La_visione_di_un_nuovo_mondo_fondato_sui_beni_comuni_o_lArmageddon">La visione di un nuovo mondo fondato sui beni comuni o l'Armageddon</a></div></div><div class="u-pb4x u-mt3x"><div class="summary u-fs14 u-fw300 u-lineHeight1_5 u-tcGrayDarkest"><div class="summarized">Sono solo numeri… Volendo usare qualche dato sintetico, la ricchezza globale generata dal pianeta è stimata in 87,8 trilioni 1 di dollari. Si badi bene, questo è solo l'ammontare stimato del Prodotto Interno Lordo (PIL) dei paesi. La... <a class="more_link u-tcGrayDark u-linkUnstyled" data-container=".work_60879729" data-show=".complete" data-hide=".summarized" data-more-link-behavior="true" href="#">more</a></div><div class="complete hidden">Sono solo numeri… Volendo usare qualche dato sintetico, la ricchezza globale generata dal pianeta è stimata in 87,8 trilioni 1 di dollari. Si badi bene, questo è solo l'ammontare stimato del Prodotto Interno Lordo (PIL) dei paesi. La massa di denaro esistente sul pianeta ammonta a cifre di un ordine di grandezza superiore, al punto che si è dovuto ricorrere al quadrilione (1.000 trilioni) per stimarlo. Considerando però come la ricchezza si distribuisce, si riscontra che, al vertice della piramide, si stimano 168.030 individui con un patrimonio netto superiore ai 50 milioni, 55.920 superiore ai 100 e 4.830 ai 500. Tolti questi 228.780 personaggi, cosa resta al resto della popolazione mondiale che si aggira sui 7 miliardi?</div></div></div><ul class="InlineList u-ph0x u-fs13"><li class="InlineList-item logged_in_only"><div class="share_on_academia_work_button"><a class="academia_share Button Button--inverseBlue Button--sm js-bookmark-button" data-academia-share="Work/60879729" data-share-source="work_strip" data-spinner="small_white_hide_contents"><i class="fa fa-plus"></i><span class="work-strip-link-text u-ml1x" data-content="button_text">Bookmark</span></a></div></li><li class="InlineList-item"><div class="download"><a id="09479d10e49ca30ff5e351886dcc593c" rel="nofollow" data-download="{"attachment_id":74131487,"asset_id":60879729,"asset_type":"Work","always_allow_download":false,"track":null,"button_location":"work_strip","source":null,"hide_modal":null}" class="Button Button--sm Button--inverseGreen js-download-button prompt_button doc_download" href="https://www.academia.edu/attachments/74131487/download_file?st=MTc0MDE1MDU5MSw4LjIyMi4yMDguMTQ2&s=work_strip"><i class="fa fa-arrow-circle-o-down fa-lg"></i><span class="u-textUppercase u-ml1x" data-content="button_text">Download</span></a></div></li><li class="InlineList-item"><ul class="InlineList InlineList--bordered u-ph0x"><li class="InlineList-item InlineList-item--bordered"><span class="InlineList-item-text">by <span itemscope="itemscope" itemprop="author" itemtype="https://schema.org/Person"><a class="u-tcGrayDark u-fw700" data-has-card-for-user="34733741" href="https://independent.academia.edu/ClaudioMazzoccoliBonadies">Claudio Mazzoccoli Bonadies</a><script data-card-contents-for-user="34733741" type="text/json">{"id":34733741,"first_name":"Claudio","last_name":"Mazzoccoli Bonadies","domain_name":"independent","page_name":"ClaudioMazzoccoliBonadies","display_name":"Claudio Mazzoccoli Bonadies","profile_url":"https://independent.academia.edu/ClaudioMazzoccoliBonadies?f_ri=21198","photo":"https://0.academia-photos.com/34733741/10243454/11431721/s65_claudio.mazzoccoli_bonadies.jpg_oh_51cc04550e68888ac2c3d12691049d41_oe_56913ee4"}</script></span></span></li><li class="js-paper-rank-work_60879729 InlineList-item InlineList-item--bordered hidden"><span class="js-paper-rank-view hidden u-tcGrayDark" data-paper-rank-work-id="60879729"><i class="u-m1x fa fa-bar-chart"></i><strong class="js-paper-rank"></strong></span><script>$(function() { new Works.PaperRankView({ workId: 60879729, container: ".js-paper-rank-work_60879729", }); 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$(".js-view-count[data-work-id=60879729]").text(description); $(".js-view-count-work_60879729").attr('title', description).tooltip(); }); });</script></span><script>$(function() { $(".js-view-count-work_60879729").removeClass('hidden') })</script></div></li><li class="InlineList-item u-positionRelative" style="max-width: 250px"><div class="u-positionAbsolute" data-has-card-for-ri-list="60879729"><i class="fa fa-tag InlineList-item-icon u-positionRelative"></i>  <a class="InlineList-item-text u-positionRelative">7</a>  </div><span class="InlineList-item-text u-textTruncate u-pl9x"><a class="InlineList-item-text" data-has-card-for-ri="12420" rel="nofollow" href="https://www.academia.edu/Documents/in/Neoliberalism">Neoliberalism</a>, <script data-card-contents-for-ri="12420" type="text/json">{"id":12420,"name":"Neoliberalism","url":"https://www.academia.edu/Documents/in/Neoliberalism?f_ri=21198","nofollow":true}</script><a class="InlineList-item-text" data-has-card-for-ri="21198" rel="nofollow" href="https://www.academia.edu/Documents/in/Fiscal_policy">Fiscal policy</a>, <script data-card-contents-for-ri="21198" type="text/json">{"id":21198,"name":"Fiscal policy","url":"https://www.academia.edu/Documents/in/Fiscal_policy?f_ri=21198","nofollow":true}</script><a class="InlineList-item-text" data-has-card-for-ri="35801" rel="nofollow" href="https://www.academia.edu/Documents/in/Climate_Change_Impacts">Climate Change Impacts</a>, <script data-card-contents-for-ri="35801" type="text/json">{"id":35801,"name":"Climate Change Impacts","url":"https://www.academia.edu/Documents/in/Climate_Change_Impacts?f_ri=21198","nofollow":true}</script><a class="InlineList-item-text" data-has-card-for-ri="130221" rel="nofollow" href="https://www.academia.edu/Documents/in/Economia_Pol%C3%ADtica">Economia Política</a><script data-card-contents-for-ri="130221" type="text/json">{"id":130221,"name":"Economia Política","url":"https://www.academia.edu/Documents/in/Economia_Pol%C3%ADtica?f_ri=21198","nofollow":true}</script></span></li><script>(function(){ if (true) { new Aedu.ResearchInterestListCard({ el: $('*[data-has-card-for-ri-list=60879729]'), work: {"id":60879729,"title":"La visione di un nuovo mondo fondato sui beni comuni o l'Armageddon","created_at":"2021-11-03T04:13:53.514-07:00","url":"https://www.academia.edu/60879729/La_visione_di_un_nuovo_mondo_fondato_sui_beni_comuni_o_lArmageddon?f_ri=21198","dom_id":"work_60879729","summary":"Sono solo numeri… Volendo usare qualche dato sintetico, la ricchezza globale generata dal pianeta è stimata in 87,8 trilioni 1 di dollari. Si badi bene, questo è solo l'ammontare stimato del Prodotto Interno Lordo (PIL) dei paesi. La massa di denaro esistente sul pianeta ammonta a cifre di un ordine di grandezza superiore, al punto che si è dovuto ricorrere al quadrilione (1.000 trilioni) per stimarlo. Considerando però come la ricchezza si distribuisce, si riscontra che, al vertice della piramide, si stimano 168.030 individui con un patrimonio netto superiore ai 50 milioni, 55.920 superiore ai 100 e 4.830 ai 500. Tolti questi 228.780 personaggi, cosa resta al resto della popolazione mondiale che si aggira sui 7 miliardi?","downloadable_attachments":[{"id":74131487,"asset_id":60879729,"asset_type":"Work","always_allow_download":false}],"ordered_authors":[{"id":34733741,"first_name":"Claudio","last_name":"Mazzoccoli Bonadies","domain_name":"independent","page_name":"ClaudioMazzoccoliBonadies","display_name":"Claudio Mazzoccoli Bonadies","profile_url":"https://independent.academia.edu/ClaudioMazzoccoliBonadies?f_ri=21198","photo":"https://0.academia-photos.com/34733741/10243454/11431721/s65_claudio.mazzoccoli_bonadies.jpg_oh_51cc04550e68888ac2c3d12691049d41_oe_56913ee4"}],"research_interests":[{"id":12420,"name":"Neoliberalism","url":"https://www.academia.edu/Documents/in/Neoliberalism?f_ri=21198","nofollow":true},{"id":21198,"name":"Fiscal policy","url":"https://www.academia.edu/Documents/in/Fiscal_policy?f_ri=21198","nofollow":true},{"id":35801,"name":"Climate Change Impacts","url":"https://www.academia.edu/Documents/in/Climate_Change_Impacts?f_ri=21198","nofollow":true},{"id":130221,"name":"Economia Política","url":"https://www.academia.edu/Documents/in/Economia_Pol%C3%ADtica?f_ri=21198","nofollow":true},{"id":3214245,"name":"Greta Thunberg","url":"https://www.academia.edu/Documents/in/Greta_Thunberg?f_ri=21198"},{"id":3311757,"name":"Fridays for Future","url":"https://www.academia.edu/Documents/in/Fridays_for_Future?f_ri=21198"},{"id":4049724,"name":"cop26","url":"https://www.academia.edu/Documents/in/cop26?f_ri=21198"}]}, }) } })();</script></ul></li></ul></div></div><div class="u-borderBottom1 u-borderColorGrayLighter"><div class="clearfix u-pv7x u-mb0x js-work-card work_37303308 coauthored" data-work_id="37303308" itemscope="itemscope" itemtype="https://schema.org/ScholarlyArticle"><div class="header"><div class="title u-fontSerif u-fs22 u-lineHeight1_3"><a class="u-tcGrayDarkest js-work-link" href="https://www.academia.edu/37303308/Austerity_and_Public_Administration_Italy_Between_Modernization_and_Spending_Cuts">Austerity and Public Administration: Italy Between Modernization and Spending Cuts</a></div></div><div class="u-pb4x u-mt3x"><div class="summary u-fs14 u-fw300 u-lineHeight1_5 u-tcGrayDarkest"><div class="summarized">This article analyzes the Italian government's response to the sovereign debt crisis. Given the severity of the fiscal crisis affecting Italy, this article provides insights about the crisis's implication for public administration in such... <a class="more_link u-tcGrayDark u-linkUnstyled" data-container=".work_37303308" data-show=".complete" data-hide=".summarized" data-more-link-behavior="true" href="#">more</a></div><div class="complete hidden">This article analyzes the Italian government's response to the sovereign debt crisis. Given the severity of the fiscal crisis affecting Italy, this article provides insights about the crisis's implication for public administration in such a politically sensitive environment where drastic and far-reaching measures had to be taken by the government. Drawing on the historical institutionalist approach, the impact of the crisis is not considered in isolation but in the context of the historical trajectory that has shaped the government's capacity to respond. To assess the crisis's implications for public administration, the empirical analysis focuses on public employment as an area that is especially exposed to fiscal restraint. The findings reveal that the current crisis has been managed with straight cutback management, as public administration has been considered by policy makers just as a source of public expenditure to be squeezed rather than as a provider of public services in need of modernization so as to sustain economic growth. The global crisis that started in 2007-2008 had significant implications for the fiscal position of Organisation for Economic Cooperation and Development (OECD) nations (Posner & Blondal, 2012). As the global crisis mutated from a problem affecting the private economy to a sovereign debt problem, public spending cutbacks came</div></div></div><ul class="InlineList u-ph0x u-fs13"><li class="InlineList-item logged_in_only"><div class="share_on_academia_work_button"><a class="academia_share Button Button--inverseBlue Button--sm js-bookmark-button" data-academia-share="Work/37303308" data-share-source="work_strip" data-spinner="small_white_hide_contents"><i class="fa fa-plus"></i><span class="work-strip-link-text u-ml1x" data-content="button_text">Bookmark</span></a></div></li><li class="InlineList-item"><div class="download"><a id="046215449156f7747904a881f6b56373" rel="nofollow" data-download="{"attachment_id":57259101,"asset_id":37303308,"asset_type":"Work","always_allow_download":false,"track":null,"button_location":"work_strip","source":null,"hide_modal":null}" class="Button Button--sm Button--inverseGreen js-download-button prompt_button doc_download" href="https://www.academia.edu/attachments/57259101/download_file?st=MTc0MDE1MDU5MSw4LjIyMi4yMDguMTQ2&s=work_strip"><i class="fa fa-arrow-circle-o-down fa-lg"></i><span class="u-textUppercase u-ml1x" data-content="button_text">Download</span></a></div></li><li class="InlineList-item"><ul class="InlineList InlineList--bordered u-ph0x"><li class="InlineList-item InlineList-item--bordered"><span class="InlineList-item-text">by <span itemscope="itemscope" itemprop="author" itemtype="https://schema.org/Person"><a class="u-tcGrayDark u-fw700" data-has-card-for-user="25072121" href="https://independent.academia.edu/FabrizioDiMascio">Fabrizio Di Mascio</a><script data-card-contents-for-user="25072121" type="text/json">{"id":25072121,"first_name":"Fabrizio","last_name":"Di Mascio","domain_name":"independent","page_name":"FabrizioDiMascio","display_name":"Fabrizio Di Mascio","profile_url":"https://independent.academia.edu/FabrizioDiMascio?f_ri=21198","photo":"https://0.academia-photos.com/25072121/6832003/7711348/s65_fabrizio.di_mascio.jpg"}</script></span></span><span class="u-displayInlineBlock InlineList-item-text"> and <span class="u-textDecorationUnderline u-clickable InlineList-item-text js-work-more-authors-37303308">+1</span><div class="hidden js-additional-users-37303308"><div><span itemscope="itemscope" itemprop="author" itemtype="https://schema.org/Person"><a href="https://uniparthenope.academia.edu/ANatalini">Alessandro Natalini</a></span></div></div></span><script>(function(){ var popoverSettings = { el: $('.js-work-more-authors-37303308'), placement: 'bottom', hide_delay: 200, html: true, content: function(){ return $('.js-additional-users-37303308').html(); 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Given the severity of the fiscal crisis affecting Italy, this article provides insights about the crisis's implication for public administration in such a politically sensitive environment where drastic and far-reaching measures had to be taken by the government. Drawing on the historical institutionalist approach, the impact of the crisis is not considered in isolation but in the context of the historical trajectory that has shaped the government's capacity to respond. To assess the crisis's implications for public administration, the empirical analysis focuses on public employment as an area that is especially exposed to fiscal restraint. The findings reveal that the current crisis has been managed with straight cutback management, as public administration has been considered by policy makers just as a source of public expenditure to be squeezed rather than as a provider of public services in need of modernization so as to sustain economic growth. The global crisis that started in 2007-2008 had significant implications for the fiscal position of Organisation for Economic Cooperation and Development (OECD) nations (Posner \u0026 Blondal, 2012). As the global crisis mutated from a problem affecting the private economy to a sovereign debt problem, public spending cutbacks came","downloadable_attachments":[{"id":57259101,"asset_id":37303308,"asset_type":"Work","always_allow_download":false}],"ordered_authors":[{"id":25072121,"first_name":"Fabrizio","last_name":"Di Mascio","domain_name":"independent","page_name":"FabrizioDiMascio","display_name":"Fabrizio Di Mascio","profile_url":"https://independent.academia.edu/FabrizioDiMascio?f_ri=21198","photo":"https://0.academia-photos.com/25072121/6832003/7711348/s65_fabrizio.di_mascio.jpg"},{"id":18212681,"first_name":"Alessandro","last_name":"Natalini","domain_name":"uniparthenope","page_name":"ANatalini","display_name":"Alessandro Natalini","profile_url":"https://uniparthenope.academia.edu/ANatalini?f_ri=21198","photo":"/images/s65_no_pic.png"}],"research_interests":[{"id":8213,"name":"Italian Politics","url":"https://www.academia.edu/Documents/in/Italian_Politics?f_ri=21198","nofollow":true},{"id":8732,"name":"Historical Institutionalism","url":"https://www.academia.edu/Documents/in/Historical_Institutionalism?f_ri=21198","nofollow":true},{"id":17278,"name":"Policy learning","url":"https://www.academia.edu/Documents/in/Policy_learning?f_ri=21198","nofollow":true},{"id":19160,"name":"New Institutionalism","url":"https://www.academia.edu/Documents/in/New_Institutionalism?f_ri=21198","nofollow":true},{"id":21198,"name":"Fiscal policy","url":"https://www.academia.edu/Documents/in/Fiscal_policy?f_ri=21198"},{"id":37023,"name":"Sovereign Debt","url":"https://www.academia.edu/Documents/in/Sovereign_Debt?f_ri=21198"},{"id":43306,"name":"Global Financial Crisis","url":"https://www.academia.edu/Documents/in/Global_Financial_Crisis?f_ri=21198"},{"id":185583,"name":"Austerity Measures","url":"https://www.academia.edu/Documents/in/Austerity_Measures?f_ri=21198"},{"id":304111,"name":"Eurozone crisis","url":"https://www.academia.edu/Documents/in/Eurozone_crisis?f_ri=21198"},{"id":622666,"name":"Politics of Austerity","url":"https://www.academia.edu/Documents/in/Politics_of_Austerity?f_ri=21198"}]}, }) } })();</script></ul></li></ul></div></div><div class="u-borderBottom1 u-borderColorGrayLighter"><div class="clearfix u-pv7x u-mb0x js-work-card work_18752273" data-work_id="18752273" itemscope="itemscope" itemtype="https://schema.org/ScholarlyArticle"><div class="header"><div class="title u-fontSerif u-fs22 u-lineHeight1_3"><a class="u-tcGrayDarkest js-work-link" href="https://www.academia.edu/18752273/An_integrated_Land_use_Transportation_model_for_Paris_area">An integrated Land use��Transportation model for Paris area</a></div></div><div class="u-pb4x u-mt3x"><div class="summary u-fs14 u-fw300 u-lineHeight1_5 u-tcGrayDarkest"><div class="summarized">There is a new growing interest in the development and the use of integrated land use and transport planning models in France. In this paper, we describe the steps of a current project which aims to integrate UrbanSim, a flexible land use... <a class="more_link u-tcGrayDark u-linkUnstyled" data-container=".work_18752273" data-show=".complete" data-hide=".summarized" data-more-link-behavior="true" href="#">more</a></div><div class="complete hidden">There is a new growing interest in the development and the use of integrated land use and transport planning models in France. In this paper, we describe the steps of a current project which aims to integrate UrbanSim, a flexible land use model, and METROPOLIS, a dynamic traffic model, and to apply this integrated model to Paris region. We shortly present the two models and the common architecture, then we describe the fastidious but crucial step of collecting input data and calibration data for the study area. Paris region is one of the most important metropolises in the world : 12 000 km2, 11 millions inhabitants and 5 millions jobs.</div></div></div><ul class="InlineList u-ph0x u-fs13"><li class="InlineList-item logged_in_only"><div class="share_on_academia_work_button"><a class="academia_share Button Button--inverseBlue Button--sm js-bookmark-button" data-academia-share="Work/18752273" data-share-source="work_strip" data-spinner="small_white_hide_contents"><i class="fa fa-plus"></i><span class="work-strip-link-text u-ml1x" data-content="button_text">Bookmark</span></a></div></li><li class="InlineList-item"><div class="download"><a id="1d5bf89077effe7dfddb24c071ce253e" rel="nofollow" data-download="{"attachment_id":40236119,"asset_id":18752273,"asset_type":"Work","always_allow_download":false,"track":null,"button_location":"work_strip","source":null,"hide_modal":null}" class="Button Button--sm Button--inverseGreen js-download-button prompt_button doc_download" href="https://www.academia.edu/attachments/40236119/download_file?st=MTc0MDE1MDU5MSw4LjIyMi4yMDguMTQ2&s=work_strip"><i class="fa fa-arrow-circle-o-down fa-lg"></i><span class="u-textUppercase u-ml1x" data-content="button_text">Download</span></a></div></li><li class="InlineList-item"><ul class="InlineList InlineList--bordered u-ph0x"><li class="InlineList-item InlineList-item--bordered"><span class="InlineList-item-text">by <span itemscope="itemscope" itemprop="author" itemtype="https://schema.org/Person"><a class="u-tcGrayDark u-fw700" data-has-card-for-user="38826212" href="https://cyu-fr.academia.edu/NathaliePicard">Nathalie Picard</a><script data-card-contents-for-user="38826212" type="text/json">{"id":38826212,"first_name":"Nathalie","last_name":"Picard","domain_name":"cyu-fr","page_name":"NathaliePicard","display_name":"Nathalie Picard","profile_url":"https://cyu-fr.academia.edu/NathaliePicard?f_ri=21198","photo":"/images/s65_no_pic.png"}</script></span></span></li><li class="js-paper-rank-work_18752273 InlineList-item InlineList-item--bordered hidden"><span class="js-paper-rank-view hidden u-tcGrayDark" data-paper-rank-work-id="18752273"><i class="u-m1x fa fa-bar-chart"></i><strong class="js-paper-rank"></strong></span><script>$(function() { new Works.PaperRankView({ workId: 18752273, container: ".js-paper-rank-work_18752273", }); 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$(".js-view-count[data-work-id=18752273]").text(description); $(".js-view-count-work_18752273").attr('title', description).tooltip(); }); });</script></span><script>$(function() { $(".js-view-count-work_18752273").removeClass('hidden') })</script></div></li><li class="InlineList-item u-positionRelative" style="max-width: 250px"><div class="u-positionAbsolute" data-has-card-for-ri-list="18752273"><i class="fa fa-tag InlineList-item-icon u-positionRelative"></i>  <a class="InlineList-item-text u-positionRelative">20</a>  </div><span class="InlineList-item-text u-textTruncate u-pl10x"><a class="InlineList-item-text" data-has-card-for-ri="41" rel="nofollow" href="https://www.academia.edu/Documents/in/Real_Estate">Real Estate</a>, <script data-card-contents-for-ri="41" type="text/json">{"id":41,"name":"Real Estate","url":"https://www.academia.edu/Documents/in/Real_Estate?f_ri=21198","nofollow":true}</script><a class="InlineList-item-text" data-has-card-for-ri="1362" rel="nofollow" href="https://www.academia.edu/Documents/in/Spatial_Analysis">Spatial Analysis</a>, <script data-card-contents-for-ri="1362" type="text/json">{"id":1362,"name":"Spatial Analysis","url":"https://www.academia.edu/Documents/in/Spatial_Analysis?f_ri=21198","nofollow":true}</script><a class="InlineList-item-text" data-has-card-for-ri="4808" rel="nofollow" href="https://www.academia.edu/Documents/in/Urban_Planning">Urban Planning</a>, <script data-card-contents-for-ri="4808" type="text/json">{"id":4808,"name":"Urban Planning","url":"https://www.academia.edu/Documents/in/Urban_Planning?f_ri=21198","nofollow":true}</script><a class="InlineList-item-text" data-has-card-for-ri="19816" rel="nofollow" href="https://www.academia.edu/Documents/in/Intelligent_Transport_System">Intelligent Transport System</a><script data-card-contents-for-ri="19816" type="text/json">{"id":19816,"name":"Intelligent Transport System","url":"https://www.academia.edu/Documents/in/Intelligent_Transport_System?f_ri=21198","nofollow":true}</script></span></li><script>(function(){ if (true) { new Aedu.ResearchInterestListCard({ el: $('*[data-has-card-for-ri-list=18752273]'), work: {"id":18752273,"title":"An integrated Land use��Transportation model for Paris area","created_at":"2015-11-21T06:35:51.221-08:00","url":"https://www.academia.edu/18752273/An_integrated_Land_use_Transportation_model_for_Paris_area?f_ri=21198","dom_id":"work_18752273","summary":"There is a new growing interest in the development and the use of integrated land use and transport planning models in France. In this paper, we describe the steps of a current project which aims to integrate UrbanSim, a flexible land use model, and METROPOLIS, a dynamic traffic model, and to apply this integrated model to Paris region. We shortly present the two models and the common architecture, then we describe the fastidious but crucial step of collecting input data and calibration data for the study area. Paris region is one of the most important metropolises in the world : 12 000 km2, 11 millions inhabitants and 5 millions jobs.","downloadable_attachments":[{"id":40236119,"asset_id":18752273,"asset_type":"Work","always_allow_download":false}],"ordered_authors":[{"id":38826212,"first_name":"Nathalie","last_name":"Picard","domain_name":"cyu-fr","page_name":"NathaliePicard","display_name":"Nathalie Picard","profile_url":"https://cyu-fr.academia.edu/NathaliePicard?f_ri=21198","photo":"/images/s65_no_pic.png"}],"research_interests":[{"id":41,"name":"Real Estate","url":"https://www.academia.edu/Documents/in/Real_Estate?f_ri=21198","nofollow":true},{"id":1362,"name":"Spatial Analysis","url":"https://www.academia.edu/Documents/in/Spatial_Analysis?f_ri=21198","nofollow":true},{"id":4808,"name":"Urban Planning","url":"https://www.academia.edu/Documents/in/Urban_Planning?f_ri=21198","nofollow":true},{"id":19816,"name":"Intelligent Transport System","url":"https://www.academia.edu/Documents/in/Intelligent_Transport_System?f_ri=21198","nofollow":true},{"id":21198,"name":"Fiscal policy","url":"https://www.academia.edu/Documents/in/Fiscal_policy?f_ri=21198"},{"id":53994,"name":"Data Structure","url":"https://www.academia.edu/Documents/in/Data_Structure?f_ri=21198"},{"id":70030,"name":"Land Use Planning","url":"https://www.academia.edu/Documents/in/Land_Use_Planning?f_ri=21198"},{"id":108026,"name":"Transportation Planning","url":"https://www.academia.edu/Documents/in/Transportation_Planning?f_ri=21198"},{"id":109291,"name":"Land Use","url":"https://www.academia.edu/Documents/in/Land_Use?f_ri=21198"},{"id":134703,"name":"Data Fusion","url":"https://www.academia.edu/Documents/in/Data_Fusion?f_ri=21198"},{"id":175517,"name":"Discrete choice models","url":"https://www.academia.edu/Documents/in/Discrete_choice_models?f_ri=21198"},{"id":235574,"name":"Model development","url":"https://www.academia.edu/Documents/in/Model_development?f_ri=21198"},{"id":310262,"name":"Land Price","url":"https://www.academia.edu/Documents/in/Land_Price?f_ri=21198"},{"id":338700,"name":"Hedonic Regression","url":"https://www.academia.edu/Documents/in/Hedonic_Regression?f_ri=21198"},{"id":368126,"name":"Income Tax","url":"https://www.academia.edu/Documents/in/Income_Tax?f_ri=21198"},{"id":394477,"name":"Time Dependent","url":"https://www.academia.edu/Documents/in/Time_Dependent?f_ri=21198"},{"id":436295,"name":"ROAD NETWORK","url":"https://www.academia.edu/Documents/in/ROAD_NETWORK?f_ri=21198"},{"id":598843,"name":"Value of time","url":"https://www.academia.edu/Documents/in/Value_of_time?f_ri=21198"},{"id":604200,"name":"Spatial resolution","url":"https://www.academia.edu/Documents/in/Spatial_resolution?f_ri=21198"},{"id":1641070,"name":"Logit Model","url":"https://www.academia.edu/Documents/in/Logit_Model?f_ri=21198"}]}, }) } })();</script></ul></li></ul></div></div><div class="u-borderBottom1 u-borderColorGrayLighter"><div class="clearfix u-pv7x u-mb0x js-work-card work_77488613" data-work_id="77488613" itemscope="itemscope" itemtype="https://schema.org/ScholarlyArticle"><div class="header"><div class="title u-fontSerif u-fs22 u-lineHeight1_3"><a class="u-tcGrayDarkest js-work-link" href="https://www.academia.edu/77488613/Credit_rating_agencies_and_the_sovereign_debt_crisis_Performing_the_politics_of_creditworthiness_through_risk_and_uncertainty">Credit rating agencies and the sovereign debt crisis: Performing the politics of creditworthiness through risk and uncertainty</a></div></div><div class="u-pb4x u-mt3x"><div class="summary u-fs14 u-fw300 u-lineHeight1_5 u-tcGrayDarkest"><div class="summarized">As Member States struggle to retain the investment grades necessary to allow them to finance their governmental operations at a reasonable cost, credit rating agencies (CRAs) have been blamed for exacerbating a procyclical bias which only... <a class="more_link u-tcGrayDark u-linkUnstyled" data-container=".work_77488613" data-show=".complete" data-hide=".summarized" data-more-link-behavior="true" href="#">more</a></div><div class="complete hidden">As Member States struggle to retain the investment grades necessary to allow them to finance their governmental operations at a reasonable cost, credit rating agencies (CRAs) have been blamed for exacerbating a procyclical bias which only makes this task more difficult. How CRAs contribute to the constitution of the politics of limits underpinning the European sovereign debt crisis is at the core of this article. As a socio-technical device of control, sovereign ratings are an 'illocutionary' statement about budgetary health, which promotes an artificial fiscal normality. Subsequently, these austere politics of creditworthiness have 'perlocutionary' effects, which seek to censure political discretion through normalizing risk techniques aligned with the self-systemic, and thereby selfregulating, logic of Anglo-American versions of capitalism. The ensuing antagonistic relationship between the programmatic/expertise and operational/politics dimensions of fiscal governance leaves Europe vulnerable to crisis and the renegotiation of how the 'political' is established in the economy. New regulatory technical standards (RTS) can exacerbated the performative effects on CRAs, investors and Member States.</div></div></div><ul class="InlineList u-ph0x u-fs13"><li class="InlineList-item logged_in_only"><div class="share_on_academia_work_button"><a class="academia_share Button Button--inverseBlue Button--sm js-bookmark-button" data-academia-share="Work/77488613" data-share-source="work_strip" data-spinner="small_white_hide_contents"><i class="fa fa-plus"></i><span class="work-strip-link-text u-ml1x" data-content="button_text">Bookmark</span></a></div></li><li class="InlineList-item"><div class="download"><a id="132bccc99b98e0f5abea003f3f37651e" rel="nofollow" data-download="{"attachment_id":84873866,"asset_id":77488613,"asset_type":"Work","always_allow_download":false,"track":null,"button_location":"work_strip","source":null,"hide_modal":null}" class="Button Button--sm Button--inverseGreen js-download-button prompt_button doc_download" href="https://www.academia.edu/attachments/84873866/download_file?st=MTc0MDE1MDU5MSw4LjIyMi4yMDguMTQ2&s=work_strip"><i class="fa fa-arrow-circle-o-down fa-lg"></i><span class="u-textUppercase u-ml1x" data-content="button_text">Download</span></a></div></li><li class="InlineList-item"><ul class="InlineList InlineList--bordered u-ph0x"><li class="InlineList-item InlineList-item--bordered"><span class="InlineList-item-text">by <span itemscope="itemscope" itemprop="author" itemtype="https://schema.org/Person"><a class="u-tcGrayDark u-fw700" data-has-card-for-user="46458092" href="https://lse.academia.edu/BartholomewPaudyn">Bartholomew Paudyn</a><script data-card-contents-for-user="46458092" type="text/json">{"id":46458092,"first_name":"Bartholomew","last_name":"Paudyn","domain_name":"lse","page_name":"BartholomewPaudyn","display_name":"Bartholomew Paudyn","profile_url":"https://lse.academia.edu/BartholomewPaudyn?f_ri=21198","photo":"https://0.academia-photos.com/46458092/12286901/13680720/s65_bartholomew.paudyn.jpg"}</script></span></span></li><li class="js-paper-rank-work_77488613 InlineList-item InlineList-item--bordered hidden"><span class="js-paper-rank-view hidden u-tcGrayDark" data-paper-rank-work-id="77488613"><i class="u-m1x fa fa-bar-chart"></i><strong class="js-paper-rank"></strong></span><script>$(function() { new Works.PaperRankView({ workId: 77488613, container: ".js-paper-rank-work_77488613", }); 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$(".js-view-count[data-work-id=77488613]").text(description); $(".js-view-count-work_77488613").attr('title', description).tooltip(); }); });</script></span><script>$(function() { $(".js-view-count-work_77488613").removeClass('hidden') })</script></div></li><li class="InlineList-item u-positionRelative" style="max-width: 250px"><div class="u-positionAbsolute" data-has-card-for-ri-list="77488613"><i class="fa fa-tag InlineList-item-icon u-positionRelative"></i>  <a class="InlineList-item-text u-positionRelative">20</a>  </div><span class="InlineList-item-text u-textTruncate u-pl10x"><a class="InlineList-item-text" data-has-card-for-ri="47" rel="nofollow" href="https://www.academia.edu/Documents/in/Finance">Finance</a>, <script data-card-contents-for-ri="47" type="text/json">{"id":47,"name":"Finance","url":"https://www.academia.edu/Documents/in/Finance?f_ri=21198","nofollow":true}</script><a class="InlineList-item-text" data-has-card-for-ri="193" rel="nofollow" href="https://www.academia.edu/Documents/in/Economic_Sociology">Economic Sociology</a>, <script data-card-contents-for-ri="193" type="text/json">{"id":193,"name":"Economic Sociology","url":"https://www.academia.edu/Documents/in/Economic_Sociology?f_ri=21198","nofollow":true}</script><a class="InlineList-item-text" data-has-card-for-ri="724" rel="nofollow" href="https://www.academia.edu/Documents/in/Economics">Economics</a>, <script data-card-contents-for-ri="724" type="text/json">{"id":724,"name":"Economics","url":"https://www.academia.edu/Documents/in/Economics?f_ri=21198","nofollow":true}</script><a class="InlineList-item-text" data-has-card-for-ri="797" rel="nofollow" href="https://www.academia.edu/Documents/in/International_Relations">International Relations</a><script data-card-contents-for-ri="797" type="text/json">{"id":797,"name":"International Relations","url":"https://www.academia.edu/Documents/in/International_Relations?f_ri=21198","nofollow":true}</script></span></li><script>(function(){ if (true) { new Aedu.ResearchInterestListCard({ el: $('*[data-has-card-for-ri-list=77488613]'), work: {"id":77488613,"title":"Credit rating agencies and the sovereign debt crisis: Performing the politics of creditworthiness through risk and uncertainty","created_at":"2022-04-24T14:27:14.228-07:00","url":"https://www.academia.edu/77488613/Credit_rating_agencies_and_the_sovereign_debt_crisis_Performing_the_politics_of_creditworthiness_through_risk_and_uncertainty?f_ri=21198","dom_id":"work_77488613","summary":"As Member States struggle to retain the investment grades necessary to allow them to finance their governmental operations at a reasonable cost, credit rating agencies (CRAs) have been blamed for exacerbating a procyclical bias which only makes this task more difficult. How CRAs contribute to the constitution of the politics of limits underpinning the European sovereign debt crisis is at the core of this article. As a socio-technical device of control, sovereign ratings are an 'illocutionary' statement about budgetary health, which promotes an artificial fiscal normality. Subsequently, these austere politics of creditworthiness have 'perlocutionary' effects, which seek to censure political discretion through normalizing risk techniques aligned with the self-systemic, and thereby selfregulating, logic of Anglo-American versions of capitalism. The ensuing antagonistic relationship between the programmatic/expertise and operational/politics dimensions of fiscal governance leaves Europe vulnerable to crisis and the renegotiation of how the 'political' is established in the economy. New regulatory technical standards (RTS) can exacerbated the performative effects on CRAs, investors and Member States.","downloadable_attachments":[{"id":84873866,"asset_id":77488613,"asset_type":"Work","always_allow_download":false}],"ordered_authors":[{"id":46458092,"first_name":"Bartholomew","last_name":"Paudyn","domain_name":"lse","page_name":"BartholomewPaudyn","display_name":"Bartholomew Paudyn","profile_url":"https://lse.academia.edu/BartholomewPaudyn?f_ri=21198","photo":"https://0.academia-photos.com/46458092/12286901/13680720/s65_bartholomew.paudyn.jpg"}],"research_interests":[{"id":47,"name":"Finance","url":"https://www.academia.edu/Documents/in/Finance?f_ri=21198","nofollow":true},{"id":193,"name":"Economic Sociology","url":"https://www.academia.edu/Documents/in/Economic_Sociology?f_ri=21198","nofollow":true},{"id":724,"name":"Economics","url":"https://www.academia.edu/Documents/in/Economics?f_ri=21198","nofollow":true},{"id":797,"name":"International Relations","url":"https://www.academia.edu/Documents/in/International_Relations?f_ri=21198","nofollow":true},{"id":802,"name":"Political Economy","url":"https://www.academia.edu/Documents/in/Political_Economy?f_ri=21198"},{"id":3231,"name":"Governmentality","url":"https://www.academia.edu/Documents/in/Governmentality?f_ri=21198"},{"id":4486,"name":"Political Science","url":"https://www.academia.edu/Documents/in/Political_Science?f_ri=21198"},{"id":5167,"name":"Governance","url":"https://www.academia.edu/Documents/in/Governance?f_ri=21198"},{"id":6013,"name":"Performativity","url":"https://www.academia.edu/Documents/in/Performativity?f_ri=21198"},{"id":6276,"name":"International Political Economy","url":"https://www.academia.edu/Documents/in/International_Political_Economy?f_ri=21198"},{"id":10347,"name":"European Union","url":"https://www.academia.edu/Documents/in/European_Union?f_ri=21198"},{"id":12061,"name":"Risk Management","url":"https://www.academia.edu/Documents/in/Risk_Management?f_ri=21198"},{"id":16097,"name":"Decision Making Under Uncertainty","url":"https://www.academia.edu/Documents/in/Decision_Making_Under_Uncertainty?f_ri=21198"},{"id":21198,"name":"Fiscal policy","url":"https://www.academia.edu/Documents/in/Fiscal_policy?f_ri=21198"},{"id":27659,"name":"Applied Economics","url":"https://www.academia.edu/Documents/in/Applied_Economics?f_ri=21198"},{"id":28439,"name":"Fiscal Policy and debt Management","url":"https://www.academia.edu/Documents/in/Fiscal_Policy_and_debt_Management?f_ri=21198"},{"id":75826,"name":"Europe","url":"https://www.academia.edu/Documents/in/Europe?f_ri=21198"},{"id":89342,"name":"Credit Ratings","url":"https://www.academia.edu/Documents/in/Credit_Ratings?f_ri=21198"},{"id":264026,"name":"Credit Risk Management","url":"https://www.academia.edu/Documents/in/Credit_Risk_Management?f_ri=21198"},{"id":275661,"name":"Finance and Accounting","url":"https://www.academia.edu/Documents/in/Finance_and_Accounting-2?f_ri=21198"}]}, }) } })();</script></ul></li></ul></div></div><div class="u-borderBottom1 u-borderColorGrayLighter"><div class="clearfix u-pv7x u-mb0x js-work-card work_41380714" data-work_id="41380714" itemscope="itemscope" itemtype="https://schema.org/ScholarlyArticle"><div class="header"><div class="title u-fontSerif u-fs22 u-lineHeight1_3"><a class="u-tcGrayDarkest js-work-link" href="https://www.academia.edu/41380714/Public_Debt_and_Growth_in_Italy_Analysis_and_Policy_Proposals">Public Debt and Growth in Italy: Analysis and Policy Proposals</a></div></div><div class="u-pb4x u-mt3x"><div class="summary u-fs14 u-fw300 u-lineHeight1_5 u-tcGrayDarkest"><div class="summarized">The Italian economy is characterized by a considerable amount of public debt and low growth for over a decade. This is a key issue both at a theoretical and policy level. The relationship between public debt and economic growth is widely... <a class="more_link u-tcGrayDark u-linkUnstyled" data-container=".work_41380714" data-show=".complete" data-hide=".summarized" data-more-link-behavior="true" href="#">more</a></div><div class="complete hidden">The Italian economy is characterized by a considerable amount of public debt and low growth for over a decade. This is a key issue both at a theoretical and policy level. The relationship between public debt and economic growth is widely discussed in the economic literature, since in many countries spending is rising faster than income, leading to widening budget deficits and higher levels of debt. However, the empirical literature generally highlighted the heterogeneity of the debt-growth nexus. This paper summarizes four working papers written by the author in the period from 2007 to 2014, where the structural problems of the Italian economy are identified, and the critical aspects related to Italy high debt and its low growth is emphasized. The contribution aims at discussing possible policy actions to address the Italian structural problems in the current situation. In particular, the paper underlines the importance of a long-term strategy for growth, to boost productivity and the potential growth of the Italian economy. In addition, it focuses on fiscal policy emphasizing the strategic role both of spending optimization and of tax collections through, for instance, digitizing the tax collection process in order to contribute to the long-term sustainability of sovereign Italian debt.</div></div></div><ul class="InlineList u-ph0x u-fs13"><li class="InlineList-item logged_in_only"><div class="share_on_academia_work_button"><a class="academia_share Button Button--inverseBlue Button--sm js-bookmark-button" data-academia-share="Work/41380714" data-share-source="work_strip" data-spinner="small_white_hide_contents"><i class="fa fa-plus"></i><span class="work-strip-link-text u-ml1x" data-content="button_text">Bookmark</span></a></div></li><li class="InlineList-item"><div class="download"><a id="097c9e5d1f07ee4d8ddf3e53aa920769" rel="nofollow" data-download="{"attachment_id":61575186,"asset_id":41380714,"asset_type":"Work","always_allow_download":false,"track":null,"button_location":"work_strip","source":null,"hide_modal":null}" class="Button Button--sm Button--inverseGreen js-download-button prompt_button doc_download" href="https://www.academia.edu/attachments/61575186/download_file?st=MTc0MDE1MDU5MSw4LjIyMi4yMDguMTQ2&s=work_strip"><i class="fa fa-arrow-circle-o-down fa-lg"></i><span class="u-textUppercase u-ml1x" data-content="button_text">Download</span></a></div></li><li class="InlineList-item"><ul class="InlineList InlineList--bordered u-ph0x"><li class="InlineList-item InlineList-item--bordered"><span class="InlineList-item-text">by <span itemscope="itemscope" itemprop="author" itemtype="https://schema.org/Person"><a class="u-tcGrayDark u-fw700" data-has-card-for-user="7761060" href="https://unime.academia.edu/DanieleSchilir%C3%B2">Daniele Schilirò</a><script data-card-contents-for-user="7761060" type="text/json">{"id":7761060,"first_name":"Daniele","last_name":"Schilirò","domain_name":"unime","page_name":"DanieleSchilirò","display_name":"Daniele Schilirò","profile_url":"https://unime.academia.edu/DanieleSchilir%C3%B2?f_ri=21198","photo":"https://0.academia-photos.com/7761060/2905946/20810610/s65_daniele.schilir_.jpg"}</script></span></span></li><li class="js-paper-rank-work_41380714 InlineList-item InlineList-item--bordered hidden"><span class="js-paper-rank-view hidden u-tcGrayDark" data-paper-rank-work-id="41380714"><i class="u-m1x fa fa-bar-chart"></i><strong class="js-paper-rank"></strong></span><script>$(function() { new Works.PaperRankView({ workId: 41380714, container: ".js-paper-rank-work_41380714", }); });</script></li><li class="js-percentile-work_41380714 InlineList-item InlineList-item--bordered hidden u-tcGrayDark"><span class="percentile-widget hidden"><span class="u-mr2x percentile-widget" style="display: none">•</span><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 41380714; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-percentile-work_41380714"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></li><li class="js-view-count-work_41380714 InlineList-item InlineList-item--bordered hidden"><div><span><span class="js-view-count view-count u-mr2x" data-work-id="41380714"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 41380714; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=41380714]").text(description); $(".js-view-count-work_41380714").attr('title', description).tooltip(); }); });</script></span><script>$(function() { $(".js-view-count-work_41380714").removeClass('hidden') })</script></div></li><li class="InlineList-item u-positionRelative" style="max-width: 250px"><div class="u-positionAbsolute" data-has-card-for-ri-list="41380714"><i class="fa fa-tag InlineList-item-icon u-positionRelative"></i>  <a class="InlineList-item-text u-positionRelative">3</a>  </div><span class="InlineList-item-text u-textTruncate u-pl9x"><a class="InlineList-item-text" data-has-card-for-ri="4484" rel="nofollow" href="https://www.academia.edu/Documents/in/Economic_Growth">Economic Growth</a>, <script data-card-contents-for-ri="4484" type="text/json">{"id":4484,"name":"Economic Growth","url":"https://www.academia.edu/Documents/in/Economic_Growth?f_ri=21198","nofollow":true}</script><a class="InlineList-item-text" data-has-card-for-ri="21198" rel="nofollow" href="https://www.academia.edu/Documents/in/Fiscal_policy">Fiscal policy</a>, <script data-card-contents-for-ri="21198" type="text/json">{"id":21198,"name":"Fiscal policy","url":"https://www.academia.edu/Documents/in/Fiscal_policy?f_ri=21198","nofollow":true}</script><a class="InlineList-item-text" data-has-card-for-ri="80647" rel="nofollow" href="https://www.academia.edu/Documents/in/Public_Debt">Public Debt</a><script data-card-contents-for-ri="80647" type="text/json">{"id":80647,"name":"Public Debt","url":"https://www.academia.edu/Documents/in/Public_Debt?f_ri=21198","nofollow":true}</script></span></li><script>(function(){ if (true) { new Aedu.ResearchInterestListCard({ el: $('*[data-has-card-for-ri-list=41380714]'), work: {"id":41380714,"title":"Public Debt and Growth in Italy: Analysis and Policy Proposals","created_at":"2019-12-21T03:01:13.920-08:00","url":"https://www.academia.edu/41380714/Public_Debt_and_Growth_in_Italy_Analysis_and_Policy_Proposals?f_ri=21198","dom_id":"work_41380714","summary":"The Italian economy is characterized by a considerable amount of public debt and low growth for over a decade. This is a key issue both at a theoretical and policy level. The relationship between public debt and economic growth is widely discussed in the economic literature, since in many countries spending is rising faster than income, leading to widening budget deficits and higher levels of debt. However, the empirical literature generally highlighted the heterogeneity of the debt-growth nexus. This paper summarizes four working papers written by the author in the period from 2007 to 2014, where the structural problems of the Italian economy are identified, and the critical aspects related to Italy high debt and its low growth is emphasized. The contribution aims at discussing possible policy actions to address the Italian structural problems in the current situation. In particular, the paper underlines the importance of a long-term strategy for growth, to boost productivity and the potential growth of the Italian economy. In addition, it focuses on fiscal policy emphasizing the strategic role both of spending optimization and of tax collections through, for instance, digitizing the tax collection process in order to contribute to the long-term sustainability of sovereign Italian debt.","downloadable_attachments":[{"id":61575186,"asset_id":41380714,"asset_type":"Work","always_allow_download":false}],"ordered_authors":[{"id":7761060,"first_name":"Daniele","last_name":"Schilirò","domain_name":"unime","page_name":"DanieleSchilirò","display_name":"Daniele Schilirò","profile_url":"https://unime.academia.edu/DanieleSchilir%C3%B2?f_ri=21198","photo":"https://0.academia-photos.com/7761060/2905946/20810610/s65_daniele.schilir_.jpg"}],"research_interests":[{"id":4484,"name":"Economic Growth","url":"https://www.academia.edu/Documents/in/Economic_Growth?f_ri=21198","nofollow":true},{"id":21198,"name":"Fiscal policy","url":"https://www.academia.edu/Documents/in/Fiscal_policy?f_ri=21198","nofollow":true},{"id":80647,"name":"Public Debt","url":"https://www.academia.edu/Documents/in/Public_Debt?f_ri=21198","nofollow":true}]}, }) } })();</script></ul></li></ul></div></div><div class="u-borderBottom1 u-borderColorGrayLighter"><div class="clearfix u-pv7x u-mb0x js-work-card work_28676229" data-work_id="28676229" itemscope="itemscope" itemtype="https://schema.org/ScholarlyArticle"><div class="header"><div class="title u-fontSerif u-fs22 u-lineHeight1_3"><a class="u-tcGrayDarkest js-work-link" href="https://www.academia.edu/28676229/Milton_Friedman_on_the_Ineffectiveness_of_Fiscal_Policy">Milton Friedman on the Ineffectiveness of Fiscal Policy</a></div></div><div class="u-pb4x u-mt3x"></div><ul class="InlineList u-ph0x u-fs13"><li class="InlineList-item logged_in_only"><div class="share_on_academia_work_button"><a class="academia_share Button Button--inverseBlue Button--sm js-bookmark-button" data-academia-share="Work/28676229" data-share-source="work_strip" data-spinner="small_white_hide_contents"><i class="fa fa-plus"></i><span class="work-strip-link-text u-ml1x" data-content="button_text">Bookmark</span></a></div></li><li class="InlineList-item"><div class="download"><a id="8614d79a2693637c254e952f58139fd5" rel="nofollow" data-download="{"attachment_id":49058898,"asset_id":28676229,"asset_type":"Work","always_allow_download":false,"track":null,"button_location":"work_strip","source":null,"hide_modal":null}" class="Button Button--sm Button--inverseGreen js-download-button prompt_button doc_download" href="https://www.academia.edu/attachments/49058898/download_file?st=MTc0MDE1MDU5MSw4LjIyMi4yMDguMTQ2&s=work_strip"><i class="fa fa-arrow-circle-o-down fa-lg"></i><span class="u-textUppercase u-ml1x" data-content="button_text">Download</span></a></div></li><li class="InlineList-item"><ul class="InlineList InlineList--bordered u-ph0x"><li class="InlineList-item InlineList-item--bordered"><span class="InlineList-item-text">by <span itemscope="itemscope" itemprop="author" itemtype="https://schema.org/Person"><a class="u-tcGrayDark u-fw700" data-has-card-for-user="13924512" href="https://buckingham.academia.edu/TimCongdon">Tim Congdon</a><script data-card-contents-for-user="13924512" type="text/json">{"id":13924512,"first_name":"Tim","last_name":"Congdon","domain_name":"buckingham","page_name":"TimCongdon","display_name":"Tim Congdon","profile_url":"https://buckingham.academia.edu/TimCongdon?f_ri=21198","photo":"/images/s65_no_pic.png"}</script></span></span></li><li class="js-paper-rank-work_28676229 InlineList-item InlineList-item--bordered hidden"><span class="js-paper-rank-view hidden u-tcGrayDark" data-paper-rank-work-id="28676229"><i class="u-m1x fa fa-bar-chart"></i><strong class="js-paper-rank"></strong></span><script>$(function() { new Works.PaperRankView({ workId: 28676229, container: ".js-paper-rank-work_28676229", }); });</script></li><li class="js-percentile-work_28676229 InlineList-item InlineList-item--bordered hidden u-tcGrayDark"><span class="percentile-widget hidden"><span class="u-mr2x percentile-widget" style="display: none">•</span><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 28676229; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-percentile-work_28676229"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></li><li class="js-view-count-work_28676229 InlineList-item InlineList-item--bordered hidden"><div><span><span class="js-view-count view-count u-mr2x" data-work-id="28676229"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 28676229; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=28676229]").text(description); $(".js-view-count-work_28676229").attr('title', description).tooltip(); }); });</script></span><script>$(function() { $(".js-view-count-work_28676229").removeClass('hidden') })</script></div></li><li class="InlineList-item u-positionRelative" style="max-width: 250px"><div class="u-positionAbsolute" data-has-card-for-ri-list="28676229"><i class="fa fa-tag InlineList-item-icon u-positionRelative"></i>  <a class="InlineList-item-text u-positionRelative">6</a>  </div><span class="InlineList-item-text u-textTruncate u-pl9x"><a class="InlineList-item-text" data-has-card-for-ri="724" rel="nofollow" href="https://www.academia.edu/Documents/in/Economics">Economics</a>, <script data-card-contents-for-ri="724" type="text/json">{"id":724,"name":"Economics","url":"https://www.academia.edu/Documents/in/Economics?f_ri=21198","nofollow":true}</script><a class="InlineList-item-text" data-has-card-for-ri="21198" rel="nofollow" href="https://www.academia.edu/Documents/in/Fiscal_policy">Fiscal policy</a>, <script data-card-contents-for-ri="21198" type="text/json">{"id":21198,"name":"Fiscal policy","url":"https://www.academia.edu/Documents/in/Fiscal_policy?f_ri=21198","nofollow":true}</script><a class="InlineList-item-text" data-has-card-for-ri="48971" rel="nofollow" href="https://www.academia.edu/Documents/in/Monetary_Policy">Monetary Policy</a>, <script data-card-contents-for-ri="48971" type="text/json">{"id":48971,"name":"Monetary Policy","url":"https://www.academia.edu/Documents/in/Monetary_Policy?f_ri=21198","nofollow":true}</script><a class="InlineList-item-text" data-has-card-for-ri="393134" rel="nofollow" href="https://www.academia.edu/Documents/in/Empirical_evidence">Empirical evidence</a><script data-card-contents-for-ri="393134" type="text/json">{"id":393134,"name":"Empirical evidence","url":"https://www.academia.edu/Documents/in/Empirical_evidence?f_ri=21198","nofollow":true}</script></span></li><script>(function(){ if (true) { new Aedu.ResearchInterestListCard({ el: $('*[data-has-card-for-ri-list=28676229]'), work: {"id":28676229,"title":"Milton Friedman on the Ineffectiveness of Fiscal Policy","created_at":"2016-09-23T03:12:36.513-07:00","url":"https://www.academia.edu/28676229/Milton_Friedman_on_the_Ineffectiveness_of_Fiscal_Policy?f_ri=21198","dom_id":"work_28676229","summary":null,"downloadable_attachments":[{"id":49058898,"asset_id":28676229,"asset_type":"Work","always_allow_download":false}],"ordered_authors":[{"id":13924512,"first_name":"Tim","last_name":"Congdon","domain_name":"buckingham","page_name":"TimCongdon","display_name":"Tim Congdon","profile_url":"https://buckingham.academia.edu/TimCongdon?f_ri=21198","photo":"/images/s65_no_pic.png"}],"research_interests":[{"id":724,"name":"Economics","url":"https://www.academia.edu/Documents/in/Economics?f_ri=21198","nofollow":true},{"id":21198,"name":"Fiscal policy","url":"https://www.academia.edu/Documents/in/Fiscal_policy?f_ri=21198","nofollow":true},{"id":48971,"name":"Monetary Policy","url":"https://www.academia.edu/Documents/in/Monetary_Policy?f_ri=21198","nofollow":true},{"id":393134,"name":"Empirical evidence","url":"https://www.academia.edu/Documents/in/Empirical_evidence?f_ri=21198","nofollow":true},{"id":1117206,"name":"Economic","url":"https://www.academia.edu/Documents/in/Economic?f_ri=21198"},{"id":1268820,"name":"Economic Affairs","url":"https://www.academia.edu/Documents/in/Economic_Affairs?f_ri=21198"}]}, }) } })();</script></ul></li></ul></div></div><div class="u-borderBottom1 u-borderColorGrayLighter"><div class="clearfix u-pv7x u-mb0x js-work-card work_12406275" data-work_id="12406275" itemscope="itemscope" itemtype="https://schema.org/ScholarlyArticle"><div class="header"><div class="title u-fontSerif u-fs22 u-lineHeight1_3"><a class="u-tcGrayDarkest js-work-link" href="https://www.academia.edu/12406275/Reforma_previsional_El_inicio_de_una_nueva_generaci%C3%B3n_de_reformas_segunda_parte_">Reforma previsional ¿El inicio de una nueva generación de reformas? (segunda parte)</a></div></div><div class="u-pb4x u-mt3x"><div class="summary u-fs14 u-fw300 u-lineHeight1_5 u-tcGrayDarkest"><div class="summarized">La aprobación de la Ley 26.425, mediante la cuál se eliminó el régimen de capitalización y se unificó el sistema previsional, abre la posibilidad de repensar las características específicas de la intervención estatal en la materia. Y al... <a class="more_link u-tcGrayDark u-linkUnstyled" data-container=".work_12406275" data-show=".complete" data-hide=".summarized" data-more-link-behavior="true" href="#">more</a></div><div class="complete hidden">La aprobación de la Ley 26.425, mediante la cuál se eliminó el régimen de capitalización y se unificó el sistema previsional, abre la posibilidad de repensar las características específicas de la intervención estatal en la materia. <br />Y al hacerlo surgen nuevos y viejos dilemas, algunos de los  cuales no han formado parte de los debates recientes. <br />Esta nota, continuación de la publicada en Entrelíneas de la Política Económica N°15, se concentra en los desafíos que se enfrentan en materia de Seguridad Social como consecuencia de la unificación del sistema previsional.</div></div></div><ul class="InlineList u-ph0x u-fs13"><li class="InlineList-item logged_in_only"><div class="share_on_academia_work_button"><a class="academia_share Button Button--inverseBlue Button--sm js-bookmark-button" data-academia-share="Work/12406275" data-share-source="work_strip" data-spinner="small_white_hide_contents"><i class="fa fa-plus"></i><span class="work-strip-link-text u-ml1x" data-content="button_text">Bookmark</span></a></div></li><li class="InlineList-item"><div class="download"><a id="b27a396113d9ab2ef8986d7ac5564de5" rel="nofollow" data-download="{"attachment_id":37648405,"asset_id":12406275,"asset_type":"Work","always_allow_download":false,"track":null,"button_location":"work_strip","source":null,"hide_modal":null}" class="Button Button--sm Button--inverseGreen js-download-button prompt_button doc_download" href="https://www.academia.edu/attachments/37648405/download_file?st=MTc0MDE1MDU5MSw4LjIyMi4yMDguMTQ2&s=work_strip"><i class="fa fa-arrow-circle-o-down fa-lg"></i><span class="u-textUppercase u-ml1x" data-content="button_text">Download</span></a></div></li><li class="InlineList-item"><ul class="InlineList InlineList--bordered u-ph0x"><li class="InlineList-item InlineList-item--bordered"><span class="InlineList-item-text">by <span itemscope="itemscope" itemprop="author" itemtype="https://schema.org/Person"><a class="u-tcGrayDark u-fw700" data-has-card-for-user="31175250" href="https://ciepyc.academia.edu/RafaelASelva">Rafael A. Selva</a><script data-card-contents-for-user="31175250" type="text/json">{"id":31175250,"first_name":"Rafael A.","last_name":"Selva","domain_name":"ciepyc","page_name":"RafaelASelva","display_name":"Rafael A. Selva","profile_url":"https://ciepyc.academia.edu/RafaelASelva?f_ri=21198","photo":"https://0.academia-photos.com/31175250/9159649/10215452/s65_rafael_a..selva.jpg"}</script></span></span></li><li class="js-paper-rank-work_12406275 InlineList-item InlineList-item--bordered hidden"><span class="js-paper-rank-view hidden u-tcGrayDark" data-paper-rank-work-id="12406275"><i class="u-m1x fa fa-bar-chart"></i><strong class="js-paper-rank"></strong></span><script>$(function() { new Works.PaperRankView({ workId: 12406275, container: ".js-paper-rank-work_12406275", }); });</script></li><li class="js-percentile-work_12406275 InlineList-item InlineList-item--bordered hidden u-tcGrayDark"><span class="percentile-widget hidden"><span class="u-mr2x percentile-widget" style="display: none">•</span><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 12406275; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-percentile-work_12406275"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></li><li class="js-view-count-work_12406275 InlineList-item InlineList-item--bordered hidden"><div><span><span class="js-view-count view-count u-mr2x" data-work-id="12406275"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 12406275; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=12406275]").text(description); $(".js-view-count-work_12406275").attr('title', description).tooltip(); }); });</script></span><script>$(function() { $(".js-view-count-work_12406275").removeClass('hidden') })</script></div></li><li class="InlineList-item u-positionRelative" style="max-width: 250px"><div class="u-positionAbsolute" data-has-card-for-ri-list="12406275"><i class="fa fa-tag InlineList-item-icon u-positionRelative"></i>  <a class="InlineList-item-text u-positionRelative">3</a>  </div><span class="InlineList-item-text u-textTruncate u-pl9x"><a class="InlineList-item-text" data-has-card-for-ri="21198" rel="nofollow" href="https://www.academia.edu/Documents/in/Fiscal_policy">Fiscal policy</a>, <script data-card-contents-for-ri="21198" type="text/json">{"id":21198,"name":"Fiscal policy","url":"https://www.academia.edu/Documents/in/Fiscal_policy?f_ri=21198","nofollow":true}</script><a class="InlineList-item-text" data-has-card-for-ri="24624" rel="nofollow" href="https://www.academia.edu/Documents/in/Social_Security">Social Security</a>, <script data-card-contents-for-ri="24624" type="text/json">{"id":24624,"name":"Social Security","url":"https://www.academia.edu/Documents/in/Social_Security?f_ri=21198","nofollow":true}</script><a class="InlineList-item-text" data-has-card-for-ri="403026" rel="nofollow" href="https://www.academia.edu/Documents/in/Prevision_Social">Prevision Social</a><script data-card-contents-for-ri="403026" type="text/json">{"id":403026,"name":"Prevision Social","url":"https://www.academia.edu/Documents/in/Prevision_Social?f_ri=21198","nofollow":true}</script></span></li><script>(function(){ if (true) { new Aedu.ResearchInterestListCard({ el: $('*[data-has-card-for-ri-list=12406275]'), work: {"id":12406275,"title":"Reforma previsional ¿El inicio de una nueva generación de reformas? (segunda parte)","created_at":"2015-05-15T22:11:49.462-07:00","url":"https://www.academia.edu/12406275/Reforma_previsional_El_inicio_de_una_nueva_generaci%C3%B3n_de_reformas_segunda_parte_?f_ri=21198","dom_id":"work_12406275","summary":"La aprobación de la Ley 26.425, mediante la cuál se eliminó el régimen de capitalización y se unificó el sistema previsional, abre la posibilidad de repensar las características específicas de la intervención estatal en la materia.\r\nY al hacerlo surgen nuevos y viejos dilemas, algunos de los cuales no han formado parte de los debates recientes.\r\nEsta nota, continuación de la publicada en Entrelíneas de la Política Económica N°15, se concentra en los desafíos que se enfrentan en materia de Seguridad Social como consecuencia de la unificación del sistema previsional.","downloadable_attachments":[{"id":37648405,"asset_id":12406275,"asset_type":"Work","always_allow_download":false}],"ordered_authors":[{"id":31175250,"first_name":"Rafael A.","last_name":"Selva","domain_name":"ciepyc","page_name":"RafaelASelva","display_name":"Rafael A. Selva","profile_url":"https://ciepyc.academia.edu/RafaelASelva?f_ri=21198","photo":"https://0.academia-photos.com/31175250/9159649/10215452/s65_rafael_a..selva.jpg"}],"research_interests":[{"id":21198,"name":"Fiscal policy","url":"https://www.academia.edu/Documents/in/Fiscal_policy?f_ri=21198","nofollow":true},{"id":24624,"name":"Social Security","url":"https://www.academia.edu/Documents/in/Social_Security?f_ri=21198","nofollow":true},{"id":403026,"name":"Prevision Social","url":"https://www.academia.edu/Documents/in/Prevision_Social?f_ri=21198","nofollow":true}]}, }) } })();</script></ul></li></ul></div></div><div class="u-borderBottom1 u-borderColorGrayLighter"><div class="clearfix u-pv7x u-mb0x js-work-card work_11854484 coauthored" data-work_id="11854484" itemscope="itemscope" itemtype="https://schema.org/ScholarlyArticle"><div class="header"><div class="title u-fontSerif u-fs22 u-lineHeight1_3"><a class="u-tcGrayDarkest js-work-link" href="https://www.academia.edu/11854484/El_Sistema_General_de_Regal%C3%ADas_mejor%C3%B3_empeor%C3%B3_o_qued%C3%B3_igual">El Sistema General de Regalías: ¿mejoró, empeoró o quedó igual?</a></div></div><div class="u-pb4x u-mt3x"><div class="summary u-fs14 u-fw300 u-lineHeight1_5 u-tcGrayDarkest"><div class="summarized">This paper reviews the budget allocations of the first year of the General System of Royalties (SGR). The results show positive elements in the distribution and territorial equity in the new system. However, there are some aspects of... <a class="more_link u-tcGrayDark u-linkUnstyled" data-container=".work_11854484" data-show=".complete" data-hide=".summarized" data-more-link-behavior="true" href="#">more</a></div><div class="complete hidden">This paper reviews the budget allocations of the first year of the General System of Royalties (SGR). The results show positive elements in the distribution and territorial equity in the new system. However, there are some aspects of project approval that delay implementation and do not necessarily ensure that those selected are the most appropriate. Furthermore, there is no evidence that the system involves an analysis of the sustainability of investments and there is certain fiscal laziness observed in some departments, especially those who did not receive royalties before. Finally, the study of Cesar shows that in some cases the royalties are still investing in infrastructure projects without a clear impact and whose sustainability is not assured. Although this type of investment was one of the motivations that led to the creation of the SGR, these continue to dominate the allocation of resources.</div></div></div><ul class="InlineList u-ph0x u-fs13"><li class="InlineList-item logged_in_only"><div class="share_on_academia_work_button"><a class="academia_share Button Button--inverseBlue Button--sm js-bookmark-button" data-academia-share="Work/11854484" data-share-source="work_strip" data-spinner="small_white_hide_contents"><i class="fa fa-plus"></i><span class="work-strip-link-text u-ml1x" data-content="button_text">Bookmark</span></a></div></li><li class="InlineList-item"><div class="download"><a id="82af01b9a6d99f6c3e19c0ddbb496990" rel="nofollow" data-download="{"attachment_id":37249390,"asset_id":11854484,"asset_type":"Work","always_allow_download":false,"track":null,"button_location":"work_strip","source":null,"hide_modal":null}" class="Button Button--sm Button--inverseGreen js-download-button prompt_button doc_download" href="https://www.academia.edu/attachments/37249390/download_file?st=MTc0MDE1MDU5Miw4LjIyMi4yMDguMTQ2&s=work_strip"><i class="fa fa-arrow-circle-o-down fa-lg"></i><span class="u-textUppercase u-ml1x" data-content="button_text">Download</span></a></div></li><li class="InlineList-item"><ul class="InlineList InlineList--bordered u-ph0x"><li class="InlineList-item InlineList-item--bordered"><span class="InlineList-item-text">by <span itemscope="itemscope" itemprop="author" itemtype="https://schema.org/Person"><a class="u-tcGrayDark u-fw700" data-has-card-for-user="27875890" href="https://ucberkeley.academia.edu/JoaquinUrrego">Joaquin A Urrego</a><script data-card-contents-for-user="27875890" type="text/json">{"id":27875890,"first_name":"Joaquin","last_name":"Urrego","domain_name":"ucberkeley","page_name":"JoaquinUrrego","display_name":"Joaquin A Urrego","profile_url":"https://ucberkeley.academia.edu/JoaquinUrrego?f_ri=21198","photo":"https://0.academia-photos.com/27875890/8053966/12304066/s65_joaquin.urrego.jpg"}</script></span></span><span class="u-displayInlineBlock InlineList-item-text"> and <span class="u-textDecorationUnderline u-clickable InlineList-item-text js-work-more-authors-11854484">+1</span><div class="hidden js-additional-users-11854484"><div><span itemscope="itemscope" itemprop="author" itemtype="https://schema.org/Person"><a rel="nofollow" href="https://independent.academia.edu/JaimeBonet">Jaime Bonet</a></span></div></div></span><script>(function(){ var popoverSettings = { el: $('.js-work-more-authors-11854484'), placement: 'bottom', hide_delay: 200, html: true, content: function(){ return $('.js-additional-users-11854484').html(); 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container.find('.percentile-widget').removeClass('hidden'); }); });</script></li><li class="js-view-count-work_11854484 InlineList-item InlineList-item--bordered hidden"><div><span><span class="js-view-count view-count u-mr2x" data-work-id="11854484"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 11854484; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=11854484]").text(description); $(".js-view-count-work_11854484").attr('title', description).tooltip(); }); });</script></span><script>$(function() { $(".js-view-count-work_11854484").removeClass('hidden') })</script></div></li><li class="InlineList-item u-positionRelative" style="max-width: 250px"><div class="u-positionAbsolute" data-has-card-for-ri-list="11854484"><i class="fa fa-tag InlineList-item-icon u-positionRelative"></i>  <a class="InlineList-item-text u-positionRelative">3</a>  </div><span class="InlineList-item-text u-textTruncate u-pl9x"><a class="InlineList-item-text" data-has-card-for-ri="2216" rel="nofollow" href="https://www.academia.edu/Documents/in/Natural_Resources">Natural Resources</a>, <script data-card-contents-for-ri="2216" type="text/json">{"id":2216,"name":"Natural Resources","url":"https://www.academia.edu/Documents/in/Natural_Resources?f_ri=21198","nofollow":true}</script><a class="InlineList-item-text" data-has-card-for-ri="3261" rel="nofollow" href="https://www.academia.edu/Documents/in/Colombia">Colombia</a>, <script data-card-contents-for-ri="3261" type="text/json">{"id":3261,"name":"Colombia","url":"https://www.academia.edu/Documents/in/Colombia?f_ri=21198","nofollow":true}</script><a class="InlineList-item-text" data-has-card-for-ri="21198" rel="nofollow" href="https://www.academia.edu/Documents/in/Fiscal_policy">Fiscal policy</a><script data-card-contents-for-ri="21198" type="text/json">{"id":21198,"name":"Fiscal policy","url":"https://www.academia.edu/Documents/in/Fiscal_policy?f_ri=21198","nofollow":true}</script></span></li><script>(function(){ if (true) { new Aedu.ResearchInterestListCard({ el: $('*[data-has-card-for-ri-list=11854484]'), work: {"id":11854484,"title":"El Sistema General de Regalías: ¿mejoró, empeoró o quedó igual?","created_at":"2015-04-08T12:43:00.151-07:00","url":"https://www.academia.edu/11854484/El_Sistema_General_de_Regal%C3%ADas_mejor%C3%B3_empeor%C3%B3_o_qued%C3%B3_igual?f_ri=21198","dom_id":"work_11854484","summary":"This paper reviews the budget allocations of the first year of the General System of Royalties (SGR). The results show positive elements in the distribution and territorial equity in the new system. However, there are some aspects of project approval that delay implementation and do not necessarily ensure that those selected are the most appropriate. Furthermore, there is no evidence that the system involves an analysis of the sustainability of investments and there is certain fiscal laziness observed in some departments, especially those who did not receive royalties before. Finally, the study of Cesar shows that in some cases the royalties are still investing in infrastructure projects without a clear impact and whose sustainability is not assured. Although this type of investment was one of the motivations that led to the creation of the SGR, these continue to dominate the allocation of resources.","downloadable_attachments":[{"id":37249390,"asset_id":11854484,"asset_type":"Work","always_allow_download":false}],"ordered_authors":[{"id":27875890,"first_name":"Joaquin","last_name":"Urrego","domain_name":"ucberkeley","page_name":"JoaquinUrrego","display_name":"Joaquin A Urrego","profile_url":"https://ucberkeley.academia.edu/JoaquinUrrego?f_ri=21198","photo":"https://0.academia-photos.com/27875890/8053966/12304066/s65_joaquin.urrego.jpg"},{"id":40849710,"first_name":"Jaime","last_name":"Bonet","domain_name":"independent","page_name":"JaimeBonet","display_name":"Jaime Bonet","profile_url":"https://independent.academia.edu/JaimeBonet?f_ri=21198","photo":"/images/s65_no_pic.png"}],"research_interests":[{"id":2216,"name":"Natural Resources","url":"https://www.academia.edu/Documents/in/Natural_Resources?f_ri=21198","nofollow":true},{"id":3261,"name":"Colombia","url":"https://www.academia.edu/Documents/in/Colombia?f_ri=21198","nofollow":true},{"id":21198,"name":"Fiscal policy","url":"https://www.academia.edu/Documents/in/Fiscal_policy?f_ri=21198","nofollow":true}]}, }) } })();</script></ul></li></ul></div></div><div class="u-borderBottom1 u-borderColorGrayLighter"><div class="clearfix u-pv7x u-mb0x js-work-card work_8749213" data-work_id="8749213" itemscope="itemscope" itemtype="https://schema.org/ScholarlyArticle"><div class="header"><div class="title u-fontSerif u-fs22 u-lineHeight1_3"><a class="u-tcGrayDarkest js-work-link" href="https://www.academia.edu/8749213/2015_Zambia_Budget_Analysis">2015 Zambia Budget Analysis </a></div></div><div class="u-pb4x u-mt3x"><div class="summary u-fs14 u-fw300 u-lineHeight1_5 u-tcGrayDarkest">This is an analysis of the 2015 Zambian Budget including breakdown of allocations to sectors including health, Agriculture, infrastructure development and many more. The Wage Freeze is addresses as well as the mining tax regime changes.</div></div><ul class="InlineList u-ph0x u-fs13"><li class="InlineList-item logged_in_only"><div class="share_on_academia_work_button"><a class="academia_share Button Button--inverseBlue Button--sm js-bookmark-button" data-academia-share="Work/8749213" data-share-source="work_strip" data-spinner="small_white_hide_contents"><i class="fa fa-plus"></i><span class="work-strip-link-text u-ml1x" data-content="button_text">Bookmark</span></a></div></li><li class="InlineList-item"><div class="download"><a id="3c385c222e0a51d6d13b151a8fdb619e" rel="nofollow" data-download="{"attachment_id":35103142,"asset_id":8749213,"asset_type":"Work","always_allow_download":false,"track":null,"button_location":"work_strip","source":null,"hide_modal":null}" class="Button Button--sm Button--inverseGreen js-download-button prompt_button doc_download" href="https://www.academia.edu/attachments/35103142/download_file?st=MTc0MDE1MDU5Miw4LjIyMi4yMDguMTQ2&s=work_strip"><i class="fa fa-arrow-circle-o-down fa-lg"></i><span class="u-textUppercase u-ml1x" data-content="button_text">Download</span></a></div></li><li class="InlineList-item"><ul class="InlineList InlineList--bordered u-ph0x"><li class="InlineList-item InlineList-item--bordered"><span class="InlineList-item-text">by <span itemscope="itemscope" itemprop="author" itemtype="https://schema.org/Person"><a class="u-tcGrayDark u-fw700" data-has-card-for-user="6265776" href="https://unza-zm.academia.edu/KampambaShula">Kampamba Shula</a><script data-card-contents-for-user="6265776" type="text/json">{"id":6265776,"first_name":"Kampamba","last_name":"Shula","domain_name":"unza-zm","page_name":"KampambaShula","display_name":"Kampamba Shula","profile_url":"https://unza-zm.academia.edu/KampambaShula?f_ri=21198","photo":"https://0.academia-photos.com/6265776/2574886/148577061/s65_kampamba.shula.jpg"}</script></span></span></li><li class="js-paper-rank-work_8749213 InlineList-item InlineList-item--bordered hidden"><span class="js-paper-rank-view hidden u-tcGrayDark" data-paper-rank-work-id="8749213"><i class="u-m1x fa fa-bar-chart"></i><strong class="js-paper-rank"></strong></span><script>$(function() { new Works.PaperRankView({ workId: 8749213, container: ".js-paper-rank-work_8749213", }); 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The Wage Freeze is addresses as well as the mining tax regime changes.","downloadable_attachments":[{"id":35103142,"asset_id":8749213,"asset_type":"Work","always_allow_download":false}],"ordered_authors":[{"id":6265776,"first_name":"Kampamba","last_name":"Shula","domain_name":"unza-zm","page_name":"KampambaShula","display_name":"Kampamba Shula","profile_url":"https://unza-zm.academia.edu/KampambaShula?f_ri=21198","photo":"https://0.academia-photos.com/6265776/2574886/148577061/s65_kampamba.shula.jpg"}],"research_interests":[{"id":909,"name":"Tourism Studies","url":"https://www.academia.edu/Documents/in/Tourism_Studies?f_ri=21198","nofollow":true},{"id":941,"name":"Social 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class="u-pb4x u-mt3x"></div><ul class="InlineList u-ph0x u-fs13"><li class="InlineList-item logged_in_only"><div class="share_on_academia_work_button"><a class="academia_share Button Button--inverseBlue Button--sm js-bookmark-button" data-academia-share="Work/5374941" data-share-source="work_strip" data-spinner="small_white_hide_contents"><i class="fa fa-plus"></i><span class="work-strip-link-text u-ml1x" data-content="button_text">Bookmark</span></a></div></li><li class="InlineList-item"><div class="download"><a id="efc57fa2874287e9c345f88293197cd3" rel="nofollow" data-download="{"attachment_id":32565457,"asset_id":5374941,"asset_type":"Work","always_allow_download":false,"track":null,"button_location":"work_strip","source":null,"hide_modal":null}" class="Button Button--sm Button--inverseGreen js-download-button prompt_button doc_download" href="https://www.academia.edu/attachments/32565457/download_file?st=MTc0MDE1MDU5Miw4LjIyMi4yMDguMTQ2&s=work_strip"><i class="fa 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decentralization","url":"https://www.academia.edu/Documents/in/Fiscal_federalism_and_decentralization?f_ri=21198","nofollow":true},{"id":10311,"name":"European Politics","url":"https://www.academia.edu/Documents/in/European_Politics?f_ri=21198","nofollow":true},{"id":10347,"name":"European Union","url":"https://www.academia.edu/Documents/in/European_Union?f_ri=21198"},{"id":15167,"name":"European Union Law","url":"https://www.academia.edu/Documents/in/European_Union_Law?f_ri=21198"},{"id":17015,"name":"European/EU Politics","url":"https://www.academia.edu/Documents/in/European_EU_Politics?f_ri=21198"},{"id":18552,"name":"Europeanization","url":"https://www.academia.edu/Documents/in/Europeanization?f_ri=21198"},{"id":20224,"name":"EU Law","url":"https://www.academia.edu/Documents/in/EU_Law?f_ri=21198"},{"id":21198,"name":"Fiscal policy","url":"https://www.academia.edu/Documents/in/Fiscal_policy?f_ri=21198"}]}, }) } })();</script></ul></li></ul></div></div><div class="u-borderBottom1 u-borderColorGrayLighter"><div class="clearfix u-pv7x u-mb0x js-work-card work_50188572" data-work_id="50188572" itemscope="itemscope" itemtype="https://schema.org/ScholarlyArticle"><div class="header"><div class="title u-fontSerif u-fs22 u-lineHeight1_3"><a class="u-tcGrayDarkest js-work-link" href="https://www.academia.edu/50188572/The_Political_Budget_Cycle_is_Where_You_Cant_See_It_Transparency_and_Fiscal_Manipulation">The Political Budget Cycle is Where You Can't See It: Transparency and Fiscal Manipulation</a></div></div><div class="u-pb4x u-mt3x"><div class="summary u-fs14 u-fw300 u-lineHeight1_5 u-tcGrayDarkest"><div class="summarized">We investigate the effects of fiscal transparency and political polarization on the prevalence of electoral cycles in fiscal balance. The recent political economy literature on electoral cycles identifies such cycles mainly in weak and... <a class="more_link u-tcGrayDark u-linkUnstyled" data-container=".work_50188572" data-show=".complete" data-hide=".summarized" data-more-link-behavior="true" href="#">more</a></div><div class="complete hidden">We investigate the effects of fiscal transparency and political polarization on the prevalence of electoral cycles in fiscal balance. The recent political economy literature on electoral cycles identifies such cycles mainly in weak and recent democracies. In contrast, we show, conditioning on a new index of institutional fiscal transparency, that electoral cycles in fiscal balance are a feature also of advanced industrialized economies. Using a sample of nineteen OECD countries in the 1990's, we identify a persistent pattern of electoral cycles in low(er) transparency countries, while no such cycles can be observed in high(er) transparency countries. Furthermore, we find, in accordance with recent theory, that electoral cycles are larger in more politically polarized countries.</div></div></div><ul class="InlineList u-ph0x u-fs13"><li class="InlineList-item logged_in_only"><div class="share_on_academia_work_button"><a class="academia_share Button Button--inverseBlue Button--sm js-bookmark-button" data-academia-share="Work/50188572" data-share-source="work_strip" data-spinner="small_white_hide_contents"><i class="fa fa-plus"></i><span class="work-strip-link-text u-ml1x" data-content="button_text">Bookmark</span></a></div></li><li class="InlineList-item"><div class="download"><a id="4029c4e47a5fd87d09062d47d6b4b14e" rel="nofollow" data-download="{"attachment_id":68268291,"asset_id":50188572,"asset_type":"Work","always_allow_download":false,"track":null,"button_location":"work_strip","source":null,"hide_modal":null}" class="Button Button--sm Button--inverseGreen js-download-button prompt_button doc_download" href="https://www.academia.edu/attachments/68268291/download_file?st=MTc0MDE1MDU5Miw4LjIyMi4yMDguMTQ2&s=work_strip"><i class="fa fa-arrow-circle-o-down fa-lg"></i><span class="u-textUppercase u-ml1x" data-content="button_text">Download</span></a></div></li><li class="InlineList-item"><ul class="InlineList InlineList--bordered u-ph0x"><li class="InlineList-item InlineList-item--bordered"><span class="InlineList-item-text">by <span itemscope="itemscope" itemprop="author" itemtype="https://schema.org/Person"><a class="u-tcGrayDark u-fw700" data-has-card-for-user="38824941" href="https://independent.academia.edu/JamesAlt">James Alt</a><script data-card-contents-for-user="38824941" type="text/json">{"id":38824941,"first_name":"James","last_name":"Alt","domain_name":"independent","page_name":"JamesAlt","display_name":"James Alt","profile_url":"https://independent.academia.edu/JamesAlt?f_ri=21198","photo":"/images/s65_no_pic.png"}</script></span></span></li><li class="js-paper-rank-work_50188572 InlineList-item InlineList-item--bordered hidden"><span class="js-paper-rank-view hidden u-tcGrayDark" data-paper-rank-work-id="50188572"><i class="u-m1x fa fa-bar-chart"></i><strong class="js-paper-rank"></strong></span><script>$(function() { new Works.PaperRankView({ workId: 50188572, container: ".js-paper-rank-work_50188572", }); 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$(".js-view-count[data-work-id=50188572]").text(description); $(".js-view-count-work_50188572").attr('title', description).tooltip(); }); });</script></span><script>$(function() { $(".js-view-count-work_50188572").removeClass('hidden') })</script></div></li><li class="InlineList-item u-positionRelative" style="max-width: 250px"><div class="u-positionAbsolute" data-has-card-for-ri-list="50188572"><i class="fa fa-tag InlineList-item-icon u-positionRelative"></i>  <a class="InlineList-item-text u-positionRelative">6</a>  </div><span class="InlineList-item-text u-textTruncate u-pl9x"><a class="InlineList-item-text" data-has-card-for-ri="802" rel="nofollow" href="https://www.academia.edu/Documents/in/Political_Economy">Political Economy</a>, <script data-card-contents-for-ri="802" type="text/json">{"id":802,"name":"Political Economy","url":"https://www.academia.edu/Documents/in/Political_Economy?f_ri=21198","nofollow":true}</script><a class="InlineList-item-text" data-has-card-for-ri="21198" rel="nofollow" href="https://www.academia.edu/Documents/in/Fiscal_policy">Fiscal policy</a>, <script data-card-contents-for-ri="21198" type="text/json">{"id":21198,"name":"Fiscal policy","url":"https://www.academia.edu/Documents/in/Fiscal_policy?f_ri=21198","nofollow":true}</script><a class="InlineList-item-text" data-has-card-for-ri="518674" rel="nofollow" href="https://www.academia.edu/Documents/in/Budget_Deficit">Budget Deficit</a>, <script data-card-contents-for-ri="518674" type="text/json">{"id":518674,"name":"Budget Deficit","url":"https://www.academia.edu/Documents/in/Budget_Deficit?f_ri=21198","nofollow":true}</script><a class="InlineList-item-text" data-has-card-for-ri="822114" rel="nofollow" href="https://www.academia.edu/Documents/in/OECD_countries">OECD countries</a><script data-card-contents-for-ri="822114" type="text/json">{"id":822114,"name":"OECD countries","url":"https://www.academia.edu/Documents/in/OECD_countries?f_ri=21198","nofollow":true}</script></span></li><script>(function(){ if (true) { new Aedu.ResearchInterestListCard({ el: $('*[data-has-card-for-ri-list=50188572]'), work: {"id":50188572,"title":"The Political Budget Cycle is Where You Can't See It: Transparency and Fiscal Manipulation","created_at":"2021-07-23T06:08:38.918-07:00","url":"https://www.academia.edu/50188572/The_Political_Budget_Cycle_is_Where_You_Cant_See_It_Transparency_and_Fiscal_Manipulation?f_ri=21198","dom_id":"work_50188572","summary":"We investigate the effects of fiscal transparency and political polarization on the prevalence of electoral cycles in fiscal balance. The recent political economy literature on electoral cycles identifies such cycles mainly in weak and recent democracies. In contrast, we show, conditioning on a new index of institutional fiscal transparency, that electoral cycles in fiscal balance are a feature also of advanced industrialized economies. Using a sample of nineteen OECD countries in the 1990's, we identify a persistent pattern of electoral cycles in low(er) transparency countries, while no such cycles can be observed in high(er) transparency countries. Furthermore, we find, in accordance with recent theory, that electoral cycles are larger in more politically polarized countries.","downloadable_attachments":[{"id":68268291,"asset_id":50188572,"asset_type":"Work","always_allow_download":false}],"ordered_authors":[{"id":38824941,"first_name":"James","last_name":"Alt","domain_name":"independent","page_name":"JamesAlt","display_name":"James Alt","profile_url":"https://independent.academia.edu/JamesAlt?f_ri=21198","photo":"/images/s65_no_pic.png"}],"research_interests":[{"id":802,"name":"Political Economy","url":"https://www.academia.edu/Documents/in/Political_Economy?f_ri=21198","nofollow":true},{"id":21198,"name":"Fiscal policy","url":"https://www.academia.edu/Documents/in/Fiscal_policy?f_ri=21198","nofollow":true},{"id":518674,"name":"Budget Deficit","url":"https://www.academia.edu/Documents/in/Budget_Deficit?f_ri=21198","nofollow":true},{"id":822114,"name":"OECD countries","url":"https://www.academia.edu/Documents/in/OECD_countries?f_ri=21198","nofollow":true},{"id":924125,"name":"Political Polarization","url":"https://www.academia.edu/Documents/in/Political_Polarization?f_ri=21198"},{"id":2347271,"name":"Political Budget Cycle","url":"https://www.academia.edu/Documents/in/Political_Budget_Cycle?f_ri=21198"}]}, }) } })();</script></ul></li></ul></div></div><div class="u-borderBottom1 u-borderColorGrayLighter"><div class="clearfix u-pv7x u-mb0x js-work-card work_42915248" data-work_id="42915248" itemscope="itemscope" itemtype="https://schema.org/ScholarlyArticle"><div class="header"><div class="title u-fontSerif u-fs22 u-lineHeight1_3"><a class="u-tcGrayDarkest js-work-link" href="https://www.academia.edu/42915248/%CE%A0%CE%BF%CE%BB%CF%8D_%CE%BB%CE%AF%CE%B3%CE%B1_%CE%BA%CE%B1%CE%B9_%CF%80%CE%BF%CE%BB%CF%8D_%CF%84%CE%BF%CE%BE%CE%B9%CE%BA%CE%AC_%CE%9F%CE%B9%CE%BA%CE%BF%CE%BD%CE%BF%CE%BC%CE%B9%CE%BA%CE%AC_%CE%BC%CE%AD%CF%84%CF%81%CE%B1_%CE%B1%CE%BD%CE%AC_%CF%84%CE%BF%CE%BD_%CE%BA%CF%8C%CF%83%CE%BC%CE%BF_%CE%B3%CE%B9%CE%B1_%CF%84%CE%B7%CE%BD_%CE%B1%CE%BD%CF%84%CE%B9%CE%BC%CE%B5%CF%84%CF%8E%CF%80%CE%B9%CF%83%CE%B7_%CF%84%CF%89%CE%BD_%CE%B5%CF%80%CE%B9%CF%80%CF%84%CF%8E%CF%83%CE%B5%CF%89%CE%BD_%CE%B1%CF%80%CF%8C_%CF%84%CE%B7%CE%BD_%CF%80%CE%B1%CE%BD%CE%B4%CE%B7%CE%BC%CE%AF%CE%B1_%CF%84%CE%BF%CF%85_%CE%BA%CE%BF%CF%81%CE%BF%CE%BD%CE%BF%CF%8A%CE%BF%CF%8D_Covid_19_">Πολύ λίγα και πολύ ...τοξικά. Οικονομικά μέτρα ανά τον κόσμο για την αντιμετώπιση των επιπτώσεων από την πανδημία του κορονοϊού (Covid-19)</a></div></div><div class="u-pb4x u-mt3x"><div class="summary u-fs14 u-fw300 u-lineHeight1_5 u-tcGrayDarkest"><div class="summarized">Η απότομη διακοπή πολλών οικονομιών δραστηριοτήτων τον Μάρτιο του 2020 για να αποτραπεί η εξάπλωση της πανδημίας που προκάλεσε ο Convid-19 οδήγησε σε μια ύφεση μεγαλύτερη ακόμη κι εκείνης του 2008. Όλες σχεδόν οι χώρες του κόσμου... <a class="more_link u-tcGrayDark u-linkUnstyled" data-container=".work_42915248" data-show=".complete" data-hide=".summarized" data-more-link-behavior="true" href="#">more</a></div><div class="complete hidden">Η απότομη διακοπή πολλών οικονομιών δραστηριοτήτων τον Μάρτιο του 2020 για να αποτραπεί η εξάπλωση της πανδημίας που προκάλεσε ο Convid-19 οδήγησε σε μια ύφεση μεγαλύτερη ακόμη κι εκείνης του 2008. Όλες σχεδόν οι χώρες του κόσμου παρενέβησαν αποφασιστικά και σχετικά έγκαιρα έλαβαν μέτρα άμβλυνσης των συνεπειών που η αξία τους μέχρι τις 27 Μαρτίου ανερχόταν σε 7 τρισ. δολ. (CNN, 2020). Το ποσό ωστόσο όσο μεγάλο κι αν φαίνεται υπολείπεται των περιστάσεων μιας και δεν κατάφερε να αποτρέψει την μεγαλύτερη ύφεση από την εποχή του Δεύτερου Παγκόσμιου Πολέμου, για τις περισσότερες χώρες του κόσμου. Τα μέτρα που ανακοινώθηκαν στρέφονταν κυρίως σε τρεις κατευθύνσεις: Πρώτο, άμεσες εισοδηματικές ενισχύσεις, δεύτερο, παρατάσεις στην εξόφληση φορολογικών και ασφαλιστικών υποχρεώσεων προς το δημόσιο και σπανίως προς τις τράπεζες και, τρίτο, παροχή εγγυήσεων για δάνεια κι ευνοϊκότεροι όροι δανεισμού.<br />Η πείρα του 2008 έδειξε ότι η πλημμυρίδα νέων δανείων μπορεί βραχυπρόθεσμα να εγγυήθηκε την αποπληρωμή προηγούμενων δανείων, μακροπρόθεσμα ωστόσο οδήγησε στην υπερχρέωση και αύξησε την αστάθεια του συστήματος. Μείωσε την ικανότητα ακόμη και κυρίαρχων κρατών να αντεπεξέρχονται σε εσωτερικά και εξωτερικά οικονομικά σοκ. Χαρακτηριστική περίπτωση είναι οι χώρες του ευρωπαϊκού Νότου. Από την άλλη, όπου εφαρμόστηκαν δημοσιονομικά μέτρα με την μορφή άμεσων ενισχύσεων επέτρεψαν την ταχύτερη έξοδο από την κρίση. Χαρακτηριστική περίπτωση είναι η Κίνα και σε μικρότερο βαθμό οι ΗΠΑ.<br />Μέχρι στιγμής, η προτίμηση που δείχνουν τα ευρωπαϊκά όργανα και πολλές κυβερνήσεις σε δάνεια και παρατάσεις στην εξόφληση φόρων και ασφαλιστικών<br />εισφορών, αφιερώνοντας ελάχιστους πόρους σε άμεσες εισοδηματικές ενισχύσεις, δεν προδιαγράφουν μηδενικές απώλειες για τους μισθωτούς, τους αυτοαπασχολούμενους και τις μικρομεσαίες επιχειρήσεις. Όλες οι εκτιμήσεις δείχνουν πώς η άρση των μέτρων περιορισμού της κυκλοφορίας θα συνοδευτεί από αυξημένη ανεργία για μεγάλο χρονικό διάστημα, καθήλωση μισθών και λαϊκών εισοδημάτων και περαιτέρω μονοπώληση της αγοράς, σε βάρος των μικρομεσαίων επιχειρήσεων. Τα μέτρα οικονομικής παρέμβασης επομένως δεν κρίνονται μόνο πολύ λίγα σε σχέση με την πρόκληση, αλλά και πολύ …τοξικά.</div></div></div><ul class="InlineList u-ph0x u-fs13"><li class="InlineList-item logged_in_only"><div class="share_on_academia_work_button"><a class="academia_share Button Button--inverseBlue Button--sm js-bookmark-button" data-academia-share="Work/42915248" data-share-source="work_strip" data-spinner="small_white_hide_contents"><i class="fa fa-plus"></i><span class="work-strip-link-text u-ml1x" data-content="button_text">Bookmark</span></a></div></li><li class="InlineList-item"><div class="download"><a id="6bcb771e1161e2ed42af30d168015541" rel="nofollow" data-download="{"attachment_id":63165450,"asset_id":42915248,"asset_type":"Work","always_allow_download":false,"track":null,"button_location":"work_strip","source":null,"hide_modal":null}" class="Button Button--sm Button--inverseGreen js-download-button prompt_button doc_download" href="https://www.academia.edu/attachments/63165450/download_file?st=MTc0MDE1MDU5Miw4LjIyMi4yMDguMTQ2&s=work_strip"><i class="fa fa-arrow-circle-o-down fa-lg"></i><span class="u-textUppercase u-ml1x" data-content="button_text">Download</span></a></div></li><li class="InlineList-item"><ul class="InlineList InlineList--bordered u-ph0x"><li class="InlineList-item InlineList-item--bordered"><span class="InlineList-item-text">by <span itemscope="itemscope" itemprop="author" itemtype="https://schema.org/Person"><a class="u-tcGrayDark u-fw700" data-has-card-for-user="31760582" href="https://independent.academia.edu/LVatikiotis">Leonidas Vatikiotis</a><script data-card-contents-for-user="31760582" type="text/json">{"id":31760582,"first_name":"Leonidas","last_name":"Vatikiotis","domain_name":"independent","page_name":"LVatikiotis","display_name":"Leonidas Vatikiotis","profile_url":"https://independent.academia.edu/LVatikiotis?f_ri=21198","photo":"https://0.academia-photos.com/31760582/18522654/18488620/s65_leonidas.vatikiotis.jpg"}</script></span></span></li><li class="js-paper-rank-work_42915248 InlineList-item InlineList-item--bordered hidden"><span class="js-paper-rank-view hidden u-tcGrayDark" data-paper-rank-work-id="42915248"><i class="u-m1x fa fa-bar-chart"></i><strong class="js-paper-rank"></strong></span><script>$(function() { new Works.PaperRankView({ workId: 42915248, container: ".js-paper-rank-work_42915248", }); 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$(".js-view-count[data-work-id=42915248]").text(description); $(".js-view-count-work_42915248").attr('title', description).tooltip(); }); });</script></span><script>$(function() { $(".js-view-count-work_42915248").removeClass('hidden') })</script></div></li><li class="InlineList-item u-positionRelative" style="max-width: 250px"><div class="u-positionAbsolute" data-has-card-for-ri-list="42915248"><i class="fa fa-tag InlineList-item-icon u-positionRelative"></i>  <a class="InlineList-item-text u-positionRelative">4</a>  </div><span class="InlineList-item-text u-textTruncate u-pl9x"><a class="InlineList-item-text" data-has-card-for-ri="21198" rel="nofollow" href="https://www.academia.edu/Documents/in/Fiscal_policy">Fiscal policy</a>, <script data-card-contents-for-ri="21198" type="text/json">{"id":21198,"name":"Fiscal policy","url":"https://www.academia.edu/Documents/in/Fiscal_policy?f_ri=21198","nofollow":true}</script><a class="InlineList-item-text" data-has-card-for-ri="50679" rel="nofollow" href="https://www.academia.edu/Documents/in/Financial_Crisis">Financial Crisis</a>, <script data-card-contents-for-ri="50679" type="text/json">{"id":50679,"name":"Financial Crisis","url":"https://www.academia.edu/Documents/in/Financial_Crisis?f_ri=21198","nofollow":true}</script><a class="InlineList-item-text" data-has-card-for-ri="83222" rel="nofollow" href="https://www.academia.edu/Documents/in/Economic_Crisis">Economic Crisis</a>, <script data-card-contents-for-ri="83222" type="text/json">{"id":83222,"name":"Economic Crisis","url":"https://www.academia.edu/Documents/in/Economic_Crisis?f_ri=21198","nofollow":true}</script><a class="InlineList-item-text" data-has-card-for-ri="150488" rel="nofollow" href="https://www.academia.edu/Documents/in/SME_Financing">SME Financing</a><script data-card-contents-for-ri="150488" type="text/json">{"id":150488,"name":"SME Financing","url":"https://www.academia.edu/Documents/in/SME_Financing?f_ri=21198","nofollow":true}</script></span></li><script>(function(){ if (true) { new Aedu.ResearchInterestListCard({ el: $('*[data-has-card-for-ri-list=42915248]'), work: {"id":42915248,"title":"Πολύ λίγα και πολύ ...τοξικά. Οικονομικά μέτρα ανά τον κόσμο για την αντιμετώπιση των επιπτώσεων από την πανδημία του κορονοϊού (Covid-19)","created_at":"2020-05-01T15:17:49.328-07:00","url":"https://www.academia.edu/42915248/%CE%A0%CE%BF%CE%BB%CF%8D_%CE%BB%CE%AF%CE%B3%CE%B1_%CE%BA%CE%B1%CE%B9_%CF%80%CE%BF%CE%BB%CF%8D_%CF%84%CE%BF%CE%BE%CE%B9%CE%BA%CE%AC_%CE%9F%CE%B9%CE%BA%CE%BF%CE%BD%CE%BF%CE%BC%CE%B9%CE%BA%CE%AC_%CE%BC%CE%AD%CF%84%CF%81%CE%B1_%CE%B1%CE%BD%CE%AC_%CF%84%CE%BF%CE%BD_%CE%BA%CF%8C%CF%83%CE%BC%CE%BF_%CE%B3%CE%B9%CE%B1_%CF%84%CE%B7%CE%BD_%CE%B1%CE%BD%CF%84%CE%B9%CE%BC%CE%B5%CF%84%CF%8E%CF%80%CE%B9%CF%83%CE%B7_%CF%84%CF%89%CE%BD_%CE%B5%CF%80%CE%B9%CF%80%CF%84%CF%8E%CF%83%CE%B5%CF%89%CE%BD_%CE%B1%CF%80%CF%8C_%CF%84%CE%B7%CE%BD_%CF%80%CE%B1%CE%BD%CE%B4%CE%B7%CE%BC%CE%AF%CE%B1_%CF%84%CE%BF%CF%85_%CE%BA%CE%BF%CF%81%CE%BF%CE%BD%CE%BF%CF%8A%CE%BF%CF%8D_Covid_19_?f_ri=21198","dom_id":"work_42915248","summary":"Η απότομη διακοπή πολλών οικονομιών δραστηριοτήτων τον Μάρτιο του 2020 για να αποτραπεί η εξάπλωση της πανδημίας που προκάλεσε ο Convid-19 οδήγησε σε μια ύφεση μεγαλύτερη ακόμη κι εκείνης του 2008. Όλες σχεδόν οι χώρες του κόσμου παρενέβησαν αποφασιστικά και σχετικά έγκαιρα έλαβαν μέτρα άμβλυνσης των συνεπειών που η αξία τους μέχρι τις 27 Μαρτίου ανερχόταν σε 7 τρισ. δολ. (CNN, 2020). Το ποσό ωστόσο όσο μεγάλο κι αν φαίνεται υπολείπεται των περιστάσεων μιας και δεν κατάφερε να αποτρέψει την μεγαλύτερη ύφεση από την εποχή του Δεύτερου Παγκόσμιου Πολέμου, για τις περισσότερες χώρες του κόσμου. Τα μέτρα που ανακοινώθηκαν στρέφονταν κυρίως σε τρεις κατευθύνσεις: Πρώτο, άμεσες εισοδηματικές ενισχύσεις, δεύτερο, παρατάσεις στην εξόφληση φορολογικών και ασφαλιστικών υποχρεώσεων προς το δημόσιο και σπανίως προς τις τράπεζες και, τρίτο, παροχή εγγυήσεων για δάνεια κι ευνοϊκότεροι όροι δανεισμού.\nΗ πείρα του 2008 έδειξε ότι η πλημμυρίδα νέων δανείων μπορεί βραχυπρόθεσμα να εγγυήθηκε την αποπληρωμή προηγούμενων δανείων, μακροπρόθεσμα ωστόσο οδήγησε στην υπερχρέωση και αύξησε την αστάθεια του συστήματος. Μείωσε την ικανότητα ακόμη και κυρίαρχων κρατών να αντεπεξέρχονται σε εσωτερικά και εξωτερικά οικονομικά σοκ. Χαρακτηριστική περίπτωση είναι οι χώρες του ευρωπαϊκού Νότου. Από την άλλη, όπου εφαρμόστηκαν δημοσιονομικά μέτρα με την μορφή άμεσων ενισχύσεων επέτρεψαν την ταχύτερη έξοδο από την κρίση. Χαρακτηριστική περίπτωση είναι η Κίνα και σε μικρότερο βαθμό οι ΗΠΑ.\nΜέχρι στιγμής, η προτίμηση που δείχνουν τα ευρωπαϊκά όργανα και πολλές κυβερνήσεις σε δάνεια και παρατάσεις στην εξόφληση φόρων και ασφαλιστικών\nεισφορών, αφιερώνοντας ελάχιστους πόρους σε άμεσες εισοδηματικές ενισχύσεις, δεν προδιαγράφουν μηδενικές απώλειες για τους μισθωτούς, τους αυτοαπασχολούμενους και τις μικρομεσαίες επιχειρήσεις. Όλες οι εκτιμήσεις δείχνουν πώς η άρση των μέτρων περιορισμού της κυκλοφορίας θα συνοδευτεί από αυξημένη ανεργία για μεγάλο χρονικό διάστημα, καθήλωση μισθών και λαϊκών εισοδημάτων και περαιτέρω μονοπώληση της αγοράς, σε βάρος των μικρομεσαίων επιχειρήσεων. Τα μέτρα οικονομικής παρέμβασης επομένως δεν κρίνονται μόνο πολύ λίγα σε σχέση με την πρόκληση, αλλά και πολύ …τοξικά.","downloadable_attachments":[{"id":63165450,"asset_id":42915248,"asset_type":"Work","always_allow_download":false}],"ordered_authors":[{"id":31760582,"first_name":"Leonidas","last_name":"Vatikiotis","domain_name":"independent","page_name":"LVatikiotis","display_name":"Leonidas Vatikiotis","profile_url":"https://independent.academia.edu/LVatikiotis?f_ri=21198","photo":"https://0.academia-photos.com/31760582/18522654/18488620/s65_leonidas.vatikiotis.jpg"}],"research_interests":[{"id":21198,"name":"Fiscal policy","url":"https://www.academia.edu/Documents/in/Fiscal_policy?f_ri=21198","nofollow":true},{"id":50679,"name":"Financial Crisis","url":"https://www.academia.edu/Documents/in/Financial_Crisis?f_ri=21198","nofollow":true},{"id":83222,"name":"Economic Crisis","url":"https://www.academia.edu/Documents/in/Economic_Crisis?f_ri=21198","nofollow":true},{"id":150488,"name":"SME Financing","url":"https://www.academia.edu/Documents/in/SME_Financing?f_ri=21198","nofollow":true}]}, }) } })();</script></ul></li></ul></div></div><div class="u-borderBottom1 u-borderColorGrayLighter"><div class="clearfix u-pv7x u-mb0x js-work-card work_34980467" data-work_id="34980467" itemscope="itemscope" itemtype="https://schema.org/ScholarlyArticle"><div class="header"><div class="title u-fontSerif u-fs22 u-lineHeight1_3"><a class="u-tcGrayDarkest js-work-link" href="https://www.academia.edu/34980467/Municipal_Infrastructure_Policies_in_the_Federal_Republic_In_Between_Growing_Disparities_and_Losing_Political_Autonomy">Municipal Infrastructure Policies in the Federal Republic —In Between Growing Disparities and Losing Political Autonomy</a></div></div><div class="u-pb4x u-mt3x"><div class="summary u-fs14 u-fw300 u-lineHeight1_5 u-tcGrayDarkest"><div class="summarized">Drawing from Scharpf's joint decision making approach and his concept of the joint decision trap, the following paper researches the development of municipal infrastructure investment in relation to the overall financial situation. The... <a class="more_link u-tcGrayDark u-linkUnstyled" data-container=".work_34980467" data-show=".complete" data-hide=".summarized" data-more-link-behavior="true" href="#">more</a></div><div class="complete hidden">Drawing from Scharpf's joint decision making approach and his concept of the joint decision trap, the following paper researches the development of municipal infrastructure investment in relation to the overall financial situation. The analyzed data are being provided by a representative panel survey among 4,000 German municipalities conducted in 2016 by the German Institute of Urban Affairs. The starting point of the analysis is the description of a dilemma: growing financial disparities between the municipalities and a loss-making infrastructure of many cities and towns leads to an institutionalization of a growing number of grant programmes and forms of mixed financing. These programmes—so the analysis guiding thesis—do not provide adequate solutions for the hetero-geneity of municipal needs. By neglecting their individual needs they cannot take into account the growing disparities of municipal financial situations. Rather, they produce an institutional setting, which fosters sub-optimal policy-outcomes and is resilient to changes.</div></div></div><ul class="InlineList u-ph0x u-fs13"><li class="InlineList-item logged_in_only"><div class="share_on_academia_work_button"><a class="academia_share Button Button--inverseBlue Button--sm js-bookmark-button" data-academia-share="Work/34980467" data-share-source="work_strip" data-spinner="small_white_hide_contents"><i class="fa fa-plus"></i><span class="work-strip-link-text u-ml1x" data-content="button_text">Bookmark</span></a></div></li><li class="InlineList-item"><div class="download"><a id="821bbcd4508a1bfc98a9722d5630061d" rel="nofollow" data-download="{"attachment_id":54844099,"asset_id":34980467,"asset_type":"Work","always_allow_download":false,"track":null,"button_location":"work_strip","source":null,"hide_modal":null}" class="Button Button--sm Button--inverseGreen js-download-button prompt_button doc_download" href="https://www.academia.edu/attachments/54844099/download_file?st=MTc0MDE1MDU5Miw4LjIyMi4yMDguMTQ2&s=work_strip"><i class="fa fa-arrow-circle-o-down fa-lg"></i><span class="u-textUppercase u-ml1x" data-content="button_text">Download</span></a></div></li><li class="InlineList-item"><ul class="InlineList InlineList--bordered u-ph0x"><li class="InlineList-item InlineList-item--bordered"><span class="InlineList-item-text">by <span itemscope="itemscope" itemprop="author" itemtype="https://schema.org/Person"><a class="u-tcGrayDark u-fw700" data-has-card-for-user="6551556" href="https://difu.academia.edu/HenrikScheller">Henrik Scheller</a><script data-card-contents-for-user="6551556" type="text/json">{"id":6551556,"first_name":"Henrik","last_name":"Scheller","domain_name":"difu","page_name":"HenrikScheller","display_name":"Henrik Scheller","profile_url":"https://difu.academia.edu/HenrikScheller?f_ri=21198","photo":"https://0.academia-photos.com/6551556/5666926/6447088/s65_henrik.scheller.jpg_oh_89f08bf8554d0aa91fe6ced43bb602c1_oe_54daead7___gda___1425357804_fea757213cebefe663611fd6e501a3f4"}</script></span></span></li><li class="js-paper-rank-work_34980467 InlineList-item InlineList-item--bordered hidden"><span class="js-paper-rank-view hidden u-tcGrayDark" data-paper-rank-work-id="34980467"><i class="u-m1x fa fa-bar-chart"></i><strong class="js-paper-rank"></strong></span><script>$(function() { new Works.PaperRankView({ workId: 34980467, container: ".js-paper-rank-work_34980467", }); 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$(".js-view-count[data-work-id=34980467]").text(description); $(".js-view-count-work_34980467").attr('title', description).tooltip(); }); });</script></span><script>$(function() { $(".js-view-count-work_34980467").removeClass('hidden') })</script></div></li><li class="InlineList-item u-positionRelative" style="max-width: 250px"><div class="u-positionAbsolute" data-has-card-for-ri-list="34980467"><i class="fa fa-tag InlineList-item-icon u-positionRelative"></i>  <a class="InlineList-item-text u-positionRelative">12</a>  </div><span class="InlineList-item-text u-textTruncate u-pl10x"><a class="InlineList-item-text" data-has-card-for-ri="799" rel="nofollow" href="https://www.academia.edu/Documents/in/Public_Administration">Public Administration</a>, <script data-card-contents-for-ri="799" type="text/json">{"id":799,"name":"Public Administration","url":"https://www.academia.edu/Documents/in/Public_Administration?f_ri=21198","nofollow":true}</script><a class="InlineList-item-text" data-has-card-for-ri="1681" rel="nofollow" href="https://www.academia.edu/Documents/in/Decision_Making">Decision Making</a>, <script data-card-contents-for-ri="1681" type="text/json">{"id":1681,"name":"Decision Making","url":"https://www.academia.edu/Documents/in/Decision_Making?f_ri=21198","nofollow":true}</script><a class="InlineList-item-text" data-has-card-for-ri="4367" rel="nofollow" href="https://www.academia.edu/Documents/in/Infrastructure_Planning">Infrastructure Planning</a>, <script data-card-contents-for-ri="4367" type="text/json">{"id":4367,"name":"Infrastructure Planning","url":"https://www.academia.edu/Documents/in/Infrastructure_Planning?f_ri=21198","nofollow":true}</script><a class="InlineList-item-text" data-has-card-for-ri="8358" rel="nofollow" href="https://www.academia.edu/Documents/in/Public_Budgeting_and_Finance">Public Budgeting and Finance</a><script data-card-contents-for-ri="8358" type="text/json">{"id":8358,"name":"Public Budgeting and Finance","url":"https://www.academia.edu/Documents/in/Public_Budgeting_and_Finance?f_ri=21198","nofollow":true}</script></span></li><script>(function(){ if (true) { new Aedu.ResearchInterestListCard({ el: $('*[data-has-card-for-ri-list=34980467]'), work: {"id":34980467,"title":"Municipal Infrastructure Policies in the Federal Republic —In Between Growing Disparities and Losing Political Autonomy","created_at":"2017-10-28T00:17:29.232-07:00","url":"https://www.academia.edu/34980467/Municipal_Infrastructure_Policies_in_the_Federal_Republic_In_Between_Growing_Disparities_and_Losing_Political_Autonomy?f_ri=21198","dom_id":"work_34980467","summary":"Drawing from Scharpf's joint decision making approach and his concept of the joint decision trap, the following paper researches the development of municipal infrastructure investment in relation to the overall financial situation. The analyzed data are being provided by a representative panel survey among 4,000 German municipalities conducted in 2016 by the German Institute of Urban Affairs. The starting point of the analysis is the description of a dilemma: growing financial disparities between the municipalities and a loss-making infrastructure of many cities and towns leads to an institutionalization of a growing number of grant programmes and forms of mixed financing. These programmes—so the analysis guiding thesis—do not provide adequate solutions for the hetero-geneity of municipal needs. By neglecting their individual needs they cannot take into account the growing disparities of municipal financial situations. Rather, they produce an institutional setting, which fosters sub-optimal policy-outcomes and is resilient to changes.","downloadable_attachments":[{"id":54844099,"asset_id":34980467,"asset_type":"Work","always_allow_download":false}],"ordered_authors":[{"id":6551556,"first_name":"Henrik","last_name":"Scheller","domain_name":"difu","page_name":"HenrikScheller","display_name":"Henrik Scheller","profile_url":"https://difu.academia.edu/HenrikScheller?f_ri=21198","photo":"https://0.academia-photos.com/6551556/5666926/6447088/s65_henrik.scheller.jpg_oh_89f08bf8554d0aa91fe6ced43bb602c1_oe_54daead7___gda___1425357804_fea757213cebefe663611fd6e501a3f4"}],"research_interests":[{"id":799,"name":"Public Administration","url":"https://www.academia.edu/Documents/in/Public_Administration?f_ri=21198","nofollow":true},{"id":1681,"name":"Decision Making","url":"https://www.academia.edu/Documents/in/Decision_Making?f_ri=21198","nofollow":true},{"id":4367,"name":"Infrastructure 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Management","url":"https://www.academia.edu/Documents/in/Fiscal_Policy_and_debt_Management?f_ri=21198"},{"id":50576,"name":"Germany","url":"https://www.academia.edu/Documents/in/Germany?f_ri=21198"},{"id":77342,"name":"Infrastructure","url":"https://www.academia.edu/Documents/in/Infrastructure?f_ri=21198"},{"id":218270,"name":"Municipalities","url":"https://www.academia.edu/Documents/in/Municipalities?f_ri=21198"},{"id":1723635,"name":"Public Policy","url":"https://www.academia.edu/Documents/in/Public_Policy?f_ri=21198"}]}, }) } })();</script></ul></li></ul></div></div><div class="u-borderBottom1 u-borderColorGrayLighter"><div class="clearfix u-pv7x u-mb0x js-work-card work_25652592" data-work_id="25652592" itemscope="itemscope" itemtype="https://schema.org/ScholarlyArticle"><div class="header"><div class="title u-fontSerif u-fs22 u-lineHeight1_3"><a class="u-tcGrayDarkest js-work-link" href="https://www.academia.edu/25652592/A_COMPARISON_BETWEEN_NORWAYS_GOVERNMENT_PENSION_FUND_GLOBAL_AND_THE_GULF_COOPERATION_COUNCILS_MAJOR_SOVEREIGN_WEALTH_FUNDS">A COMPARISON BETWEEN NORWAY'S GOVERNMENT PENSION FUND GLOBAL AND THE GULF COOPERATION COUNCIL'S MAJOR SOVEREIGN WEALTH FUNDS</a></div></div><div class="u-pb4x u-mt3x"><div class="summary u-fs14 u-fw300 u-lineHeight1_5 u-tcGrayDarkest">Poster prepared for "NILS Success Stories: Collaborative Research between Norway, Iceland and Spain", 26 May, Madrid</div></div><ul class="InlineList u-ph0x u-fs13"><li class="InlineList-item logged_in_only"><div class="share_on_academia_work_button"><a class="academia_share Button Button--inverseBlue Button--sm js-bookmark-button" data-academia-share="Work/25652592" data-share-source="work_strip" data-spinner="small_white_hide_contents"><i class="fa fa-plus"></i><span class="work-strip-link-text u-ml1x" data-content="button_text">Bookmark</span></a></div></li><li class="InlineList-item"><div 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Madrid","downloadable_attachments":[{"id":45989929,"asset_id":25652592,"asset_type":"Work","always_allow_download":false}],"ordered_authors":[{"id":25402471,"first_name":"Eszter","last_name":"Wirth","domain_name":"ucm","page_name":"EszterWirth","display_name":"Eszter Wirth","profile_url":"https://ucm.academia.edu/EszterWirth?f_ri=21198","photo":"https://0.academia-photos.com/25402471/6935316/7822409/s65_eszter.wirth.jpg"}],"research_interests":[{"id":21198,"name":"Fiscal policy","url":"https://www.academia.edu/Documents/in/Fiscal_policy?f_ri=21198","nofollow":true},{"id":32197,"name":"Sovereign Wealth Funds","url":"https://www.academia.edu/Documents/in/Sovereign_Wealth_Funds?f_ri=21198","nofollow":true}]}, }) } })();</script></ul></li></ul></div></div><div class="u-borderBottom1 u-borderColorGrayLighter"><div class="clearfix u-pv7x u-mb0x js-work-card work_15852956 coauthored" data-work_id="15852956" itemscope="itemscope" itemtype="https://schema.org/ScholarlyArticle"><div class="header"><div class="title u-fontSerif u-fs22 u-lineHeight1_3"><a class="u-tcGrayDarkest js-work-link" href="https://www.academia.edu/15852956/Incentive_Effects_of_Fiscal_Equalization">Incentive Effects of Fiscal Equalization</a></div></div><div class="u-pb4x u-mt3x"><div class="summary u-fs14 u-fw300 u-lineHeight1_5 u-tcGrayDarkest"><div class="summarized">The effects of intergovernmental fiscal arrangements on variation in regional economic growth are analyzed for Russia, a country with large cross-regional differences and considerable fiscal redistribution. Moreover, fiscal reforms... <a class="more_link u-tcGrayDark u-linkUnstyled" data-container=".work_15852956" data-show=".complete" data-hide=".summarized" data-more-link-behavior="true" href="#">more</a></div><div class="complete hidden">The effects of intergovernmental fiscal arrangements on variation in regional economic growth are analyzed for Russia, a country with large cross-regional differences and considerable fiscal redistribution. Moreover, fiscal reforms implemented in the first half of the 2000s, which to some extent followed scientific advice, make analysis of this case particularly interesting. We observe that postreform fiscal redistribution became more rational,</div></div></div><ul class="InlineList u-ph0x u-fs13"><li class="InlineList-item logged_in_only"><div class="share_on_academia_work_button"><a class="academia_share Button Button--inverseBlue Button--sm js-bookmark-button" data-academia-share="Work/15852956" data-share-source="work_strip" data-spinner="small_white_hide_contents"><i class="fa fa-plus"></i><span class="work-strip-link-text u-ml1x" data-content="button_text">Bookmark</span></a></div></li><li class="InlineList-item"><div class="download"><a id="71e828736f01ed03a54c766dc9c5ef73" rel="nofollow" data-download="{"attachment_id":42854180,"asset_id":15852956,"asset_type":"Work","always_allow_download":false,"track":null,"button_location":"work_strip","source":null,"hide_modal":null}" class="Button Button--sm Button--inverseGreen js-download-button prompt_button doc_download" href="https://www.academia.edu/attachments/42854180/download_file?st=MTc0MDE1MDU5Miw4LjIyMi4yMDguMTQ2&s=work_strip"><i class="fa fa-arrow-circle-o-down fa-lg"></i><span class="u-textUppercase u-ml1x" data-content="button_text">Download</span></a></div></li><li class="InlineList-item"><ul class="InlineList InlineList--bordered u-ph0x"><li class="InlineList-item InlineList-item--bordered"><span class="InlineList-item-text">by <span itemscope="itemscope" itemprop="author" itemtype="https://schema.org/Person"><a class="u-tcGrayDark u-fw700" data-has-card-for-user="35070642" href="https://moscowstate.academia.edu/LevFreinkman">Lev Freinkman</a><script data-card-contents-for-user="35070642" type="text/json">{"id":35070642,"first_name":"Lev","last_name":"Freinkman","domain_name":"moscowstate","page_name":"LevFreinkman","display_name":"Lev Freinkman","profile_url":"https://moscowstate.academia.edu/LevFreinkman?f_ri=21198","photo":"/images/s65_no_pic.png"}</script></span></span><span class="u-displayInlineBlock InlineList-item-text"> and <span class="u-textDecorationUnderline u-clickable InlineList-item-text js-work-more-authors-15852956">+1</span><div class="hidden js-additional-users-15852956"><div><span itemscope="itemscope" itemprop="author" itemtype="https://schema.org/Person"><a href="https://independent.academia.edu/KonstantinKholodilin">Konstantin Kholodilin</a></span></div></div></span><script>(function(){ var popoverSettings = { el: $('.js-work-more-authors-15852956'), placement: 'bottom', hide_delay: 200, html: true, content: function(){ return $('.js-additional-users-15852956').html(); 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Moreover, fiscal reforms implemented in the first half of the 2000s, which to some extent followed scientific advice, make analysis of this case particularly interesting. We observe that postreform fiscal redistribution became more rational,","downloadable_attachments":[{"id":42854180,"asset_id":15852956,"asset_type":"Work","always_allow_download":false}],"ordered_authors":[{"id":35070642,"first_name":"Lev","last_name":"Freinkman","domain_name":"moscowstate","page_name":"LevFreinkman","display_name":"Lev Freinkman","profile_url":"https://moscowstate.academia.edu/LevFreinkman?f_ri=21198","photo":"/images/s65_no_pic.png"},{"id":35033914,"first_name":"Konstantin","last_name":"Kholodilin","domain_name":"independent","page_name":"KonstantinKholodilin","display_name":"Konstantin Kholodilin","profile_url":"https://independent.academia.edu/KonstantinKholodilin?f_ri=21198","photo":"/images/s65_no_pic.png"}],"research_interests":[{"id":724,"name":"Economics","url":"https://www.academia.edu/Documents/in/Economics?f_ri=21198","nofollow":true},{"id":21198,"name":"Fiscal policy","url":"https://www.academia.edu/Documents/in/Fiscal_policy?f_ri=21198","nofollow":true},{"id":349554,"name":"Economic and Regional Growth","url":"https://www.academia.edu/Documents/in/Economic_and_Regional_Growth?f_ri=21198","nofollow":true},{"id":356263,"name":"Fiscal reform","url":"https://www.academia.edu/Documents/in/Fiscal_reform?f_ri=21198","nofollow":true},{"id":362393,"name":"Eastern European Economics","url":"https://www.academia.edu/Documents/in/Eastern_European_Economics?f_ri=21198"},{"id":587095,"name":"Regional Growth","url":"https://www.academia.edu/Documents/in/Regional_Growth?f_ri=21198"},{"id":746823,"name":"Fiscal Equalization","url":"https://www.academia.edu/Documents/in/Fiscal_Equalization?f_ri=21198"}]}, }) } })();</script></ul></li></ul></div></div><div class="u-borderBottom1 u-borderColorGrayLighter"><div class="clearfix u-pv7x u-mb0x js-work-card work_17955400" data-work_id="17955400" itemscope="itemscope" itemtype="https://schema.org/ScholarlyArticle"><div class="header"><div class="title u-fontSerif u-fs22 u-lineHeight1_3"><a class="u-tcGrayDarkest js-work-link" href="https://www.academia.edu/17955400/Macroprudential_Policies_and_Financial_Stability_">Macroprudential Policies and Financial Stability*</a></div></div><div class="u-pb4x u-mt3x"><div class="summary u-fs14 u-fw300 u-lineHeight1_5 u-tcGrayDarkest"><div class="summarized">This article attempts to assess to what extent the central bank or the government should respond to developments that can cause financial instability, such as housing or asset bubbles, overextended budgetary policies or excessive public... <a class="more_link u-tcGrayDark u-linkUnstyled" data-container=".work_17955400" data-show=".complete" data-hide=".summarized" data-more-link-behavior="true" href="#">more</a></div><div class="complete hidden">This article attempts to assess to what extent the central bank or the government should respond to developments that can cause financial instability, such as housing or asset bubbles, overextended budgetary policies or excessive public and household debt. To analyse this question, we set up a simple reduced-form model in which monetary and fiscal policy interact, and imbalances (bubbles) can occur in the medium-run. Considering several scenarios with both benevolent and idiosyncratic policy-makers, the analysis shows that the answer depends on a number of characteristics of the economy, as well as on the monetary and fiscal policy preferences with respect to inflation and output stabilisation. We show that socially optimal financial instability prevention should be carried out by: (i) both monetary and fiscal policy (sharing region) under some circumstances; and (ii) fiscal policy only (specialisation region) under others. There is, however, a moral hazard problem: both policy-makers have an incentive to be insufficiently pro-active in safeguarding financial stability and shift the responsibility to the other policy. Specifically, under a range of circumstances, we obtain a situation in which neither policy mitigates instability threats (indifference region). These results can be related to the build-up of the current global financial crisis, and have strong implications for the optimal design of the delegation process.</div></div></div><ul class="InlineList u-ph0x u-fs13"><li class="InlineList-item logged_in_only"><div class="share_on_academia_work_button"><a class="academia_share Button Button--inverseBlue Button--sm js-bookmark-button" data-academia-share="Work/17955400" data-share-source="work_strip" data-spinner="small_white_hide_contents"><i class="fa fa-plus"></i><span class="work-strip-link-text u-ml1x" data-content="button_text">Bookmark</span></a></div></li><li class="InlineList-item"><div class="download"><a id="52234a01ee74031aff9e60b7dc0c98f1" rel="nofollow" data-download="{"attachment_id":39798107,"asset_id":17955400,"asset_type":"Work","always_allow_download":false,"track":null,"button_location":"work_strip","source":null,"hide_modal":null}" class="Button Button--sm Button--inverseGreen js-download-button prompt_button doc_download" href="https://www.academia.edu/attachments/39798107/download_file?st=MTc0MDE1MDU5Miw4LjIyMi4yMDguMTQ2&s=work_strip"><i class="fa fa-arrow-circle-o-down fa-lg"></i><span class="u-textUppercase u-ml1x" data-content="button_text">Download</span></a></div></li><li class="InlineList-item"><ul class="InlineList InlineList--bordered u-ph0x"><li class="InlineList-item InlineList-item--bordered"><span class="InlineList-item-text">by <span itemscope="itemscope" itemprop="author" itemtype="https://schema.org/Person"><a class="u-tcGrayDark u-fw700" data-has-card-for-user="37876792" href="https://independent.academia.edu/AndrewHughesHallett">Andrew Hughes Hallett</a><script data-card-contents-for-user="37876792" type="text/json">{"id":37876792,"first_name":"Andrew Hughes","last_name":"Hallett","domain_name":"independent","page_name":"AndrewHughesHallett","display_name":"Andrew Hughes Hallett","profile_url":"https://independent.academia.edu/AndrewHughesHallett?f_ri=21198","photo":"/images/s65_no_pic.png"}</script></span></span></li><li class="js-paper-rank-work_17955400 InlineList-item InlineList-item--bordered hidden"><span class="js-paper-rank-view hidden u-tcGrayDark" data-paper-rank-work-id="17955400"><i class="u-m1x fa fa-bar-chart"></i><strong class="js-paper-rank"></strong></span><script>$(function() { new Works.PaperRankView({ workId: 17955400, container: ".js-paper-rank-work_17955400", }); 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To analyse this question, we set up a simple reduced-form model in which monetary and fiscal policy interact, and imbalances (bubbles) can occur in the medium-run. Considering several scenarios with both benevolent and idiosyncratic policy-makers, the analysis shows that the answer depends on a number of characteristics of the economy, as well as on the monetary and fiscal policy preferences with respect to inflation and output stabilisation. We show that socially optimal financial instability prevention should be carried out by: (i) both monetary and fiscal policy (sharing region) under some circumstances; and (ii) fiscal policy only (specialisation region) under others. There is, however, a moral hazard problem: both policy-makers have an incentive to be insufficiently pro-active in safeguarding financial stability and shift the responsibility to the other policy. Specifically, under a range of circumstances, we obtain a situation in which neither policy mitigates instability threats (indifference region). These results can be related to the build-up of the current global financial crisis, and have strong implications for the optimal design of the delegation process.","downloadable_attachments":[{"id":39798107,"asset_id":17955400,"asset_type":"Work","always_allow_download":false}],"ordered_authors":[{"id":37876792,"first_name":"Andrew Hughes","last_name":"Hallett","domain_name":"independent","page_name":"AndrewHughesHallett","display_name":"Andrew Hughes Hallett","profile_url":"https://independent.academia.edu/AndrewHughesHallett?f_ri=21198","photo":"/images/s65_no_pic.png"}],"research_interests":[{"id":724,"name":"Economics","url":"https://www.academia.edu/Documents/in/Economics?f_ri=21198","nofollow":true},{"id":21198,"name":"Fiscal policy","url":"https://www.academia.edu/Documents/in/Fiscal_policy?f_ri=21198","nofollow":true},{"id":43306,"name":"Global Financial Crisis","url":"https://www.academia.edu/Documents/in/Global_Financial_Crisis?f_ri=21198","nofollow":true},{"id":65463,"name":"Moral Hazard","url":"https://www.academia.edu/Documents/in/Moral_Hazard?f_ri=21198","nofollow":true},{"id":80647,"name":"Public Debt","url":"https://www.academia.edu/Documents/in/Public_Debt?f_ri=21198"},{"id":256556,"name":"Monetary and Fiscal Policy","url":"https://www.academia.edu/Documents/in/Monetary_and_Fiscal_Policy?f_ri=21198"},{"id":286228,"name":"Financial Stability","url":"https://www.academia.edu/Documents/in/Financial_Stability?f_ri=21198"},{"id":517594,"name":"Central Bank","url":"https://www.academia.edu/Documents/in/Central_Bank?f_ri=21198"},{"id":619568,"name":"Financial Instability Hypothesis","url":"https://www.academia.edu/Documents/in/Financial_Instability_Hypothesis?f_ri=21198"},{"id":789521,"name":"Optimal Design","url":"https://www.academia.edu/Documents/in/Optimal_Design?f_ri=21198"},{"id":1553393,"name":"Asset Prices","url":"https://www.academia.edu/Documents/in/Asset_Prices?f_ri=21198"}]}, }) } })();</script></ul></li></ul></div></div><div class="u-borderBottom1 u-borderColorGrayLighter"><div class="clearfix u-pv7x u-mb0x js-work-card work_12917668" data-work_id="12917668" itemscope="itemscope" itemtype="https://schema.org/ScholarlyArticle"><div class="header"><div class="title u-fontSerif u-fs22 u-lineHeight1_3"><a class="u-tcGrayDarkest js-work-link" href="https://www.academia.edu/12917668/Les_compoix_de_Languedoc_Imp%C3%B4t_territoire_et_soci%C3%A9t%C3%A9_du_XIVe_au_XVIIIe_si%C3%A8cle_Caen_AHSR_2014_606_p">Les compoix de Languedoc. Impôt, territoire et société du XIVe au XVIIIe siècle, Caen, AHSR, 2014, 606 p.</a></div></div><div class="u-pb4x u-mt3x"><div class="summary u-fs14 u-fw300 u-lineHeight1_5 u-tcGrayDarkest">Compte rendu par Eric Fabre (université de Provence - IUT de Digne)</div></div><ul class="InlineList u-ph0x u-fs13"><li class="InlineList-item logged_in_only"><div class="share_on_academia_work_button"><a class="academia_share Button Button--inverseBlue Button--sm js-bookmark-button" data-academia-share="Work/12917668" data-share-source="work_strip" data-spinner="small_white_hide_contents"><i class="fa fa-plus"></i><span class="work-strip-link-text u-ml1x" data-content="button_text">Bookmark</span></a></div></li><li class="InlineList-item"><div class="download"><a id="de4aac242b8978e313745e8156d11111" rel="nofollow" data-download="{"attachment_id":37880101,"asset_id":12917668,"asset_type":"Work","always_allow_download":false,"track":null,"button_location":"work_strip","source":null,"hide_modal":null}" class="Button Button--sm Button--inverseGreen js-download-button prompt_button doc_download" href="https://www.academia.edu/attachments/37880101/download_file?st=MTc0MDE1MDU5Miw4LjIyMi4yMDguMTQ2&s=work_strip"><i class="fa fa-arrow-circle-o-down fa-lg"></i><span class="u-textUppercase u-ml1x" data-content="button_text">Download</span></a></div></li><li class="InlineList-item"><ul class="InlineList InlineList--bordered u-ph0x"><li class="InlineList-item InlineList-item--bordered"><span class="InlineList-item-text">by <span itemscope="itemscope" itemprop="author" itemtype="https://schema.org/Person"><a class="u-tcGrayDark u-fw700" data-has-card-for-user="7363102" href="https://univ-montpellier.academia.edu/BrunoJaudon">Bruno Jaudon</a><script data-card-contents-for-user="7363102" type="text/json">{"id":7363102,"first_name":"Bruno","last_name":"Jaudon","domain_name":"univ-montpellier","page_name":"BrunoJaudon","display_name":"Bruno Jaudon","profile_url":"https://univ-montpellier.academia.edu/BrunoJaudon?f_ri=21198","photo":"https://0.academia-photos.com/7363102/2786756/4015695/s65_bruno.jaudon.jpg"}</script></span></span></li><li class="js-paper-rank-work_12917668 InlineList-item InlineList-item--bordered hidden"><span class="js-paper-rank-view hidden u-tcGrayDark" data-paper-rank-work-id="12917668"><i class="u-m1x fa fa-bar-chart"></i><strong class="js-paper-rank"></strong></span><script>$(function() { new Works.PaperRankView({ workId: 12917668, container: ".js-paper-rank-work_12917668", }); 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$(".js-view-count[data-work-id=12917668]").text(description); $(".js-view-count-work_12917668").attr('title', description).tooltip(); }); });</script></span><script>$(function() { $(".js-view-count-work_12917668").removeClass('hidden') })</script></div></li><li class="InlineList-item u-positionRelative" style="max-width: 250px"><div class="u-positionAbsolute" data-has-card-for-ri-list="12917668"><i class="fa fa-tag InlineList-item-icon u-positionRelative"></i>  <a class="InlineList-item-text u-positionRelative">14</a>  </div><span class="InlineList-item-text u-textTruncate u-pl10x"><a class="InlineList-item-text" data-has-card-for-ri="128" rel="nofollow" href="https://www.academia.edu/Documents/in/History">History</a>, <script data-card-contents-for-ri="128" type="text/json">{"id":128,"name":"History","url":"https://www.academia.edu/Documents/in/History?f_ri=21198","nofollow":true}</script><a class="InlineList-item-text" data-has-card-for-ri="134" rel="nofollow" href="https://www.academia.edu/Documents/in/Modern_History">Modern History</a>, <script data-card-contents-for-ri="134" type="text/json">{"id":134,"name":"Modern History","url":"https://www.academia.edu/Documents/in/Modern_History?f_ri=21198","nofollow":true}</script><a class="InlineList-item-text" data-has-card-for-ri="137" rel="nofollow" href="https://www.academia.edu/Documents/in/Economic_History">Economic History</a>, <script data-card-contents-for-ri="137" type="text/json">{"id":137,"name":"Economic History","url":"https://www.academia.edu/Documents/in/Economic_History?f_ri=21198","nofollow":true}</script><a class="InlineList-item-text" data-has-card-for-ri="792" rel="nofollow" href="https://www.academia.edu/Documents/in/Historical_Anthropology">Historical Anthropology</a><script data-card-contents-for-ri="792" type="text/json">{"id":792,"name":"Historical Anthropology","url":"https://www.academia.edu/Documents/in/Historical_Anthropology?f_ri=21198","nofollow":true}</script></span></li><script>(function(){ if (true) { new Aedu.ResearchInterestListCard({ el: $('*[data-has-card-for-ri-list=12917668]'), work: {"id":12917668,"title":"Les compoix de Languedoc. Impôt, territoire et société du XIVe au XVIIIe siècle, Caen, AHSR, 2014, 606 p.","created_at":"2015-06-11T00:29:37.437-07:00","url":"https://www.academia.edu/12917668/Les_compoix_de_Languedoc_Imp%C3%B4t_territoire_et_soci%C3%A9t%C3%A9_du_XIVe_au_XVIIIe_si%C3%A8cle_Caen_AHSR_2014_606_p?f_ri=21198","dom_id":"work_12917668","summary":"Compte rendu par Eric Fabre (université de Provence - IUT de Digne)","downloadable_attachments":[{"id":37880101,"asset_id":12917668,"asset_type":"Work","always_allow_download":false}],"ordered_authors":[{"id":7363102,"first_name":"Bruno","last_name":"Jaudon","domain_name":"univ-montpellier","page_name":"BrunoJaudon","display_name":"Bruno Jaudon","profile_url":"https://univ-montpellier.academia.edu/BrunoJaudon?f_ri=21198","photo":"https://0.academia-photos.com/7363102/2786756/4015695/s65_bruno.jaudon.jpg"}],"research_interests":[{"id":128,"name":"History","url":"https://www.academia.edu/Documents/in/History?f_ri=21198","nofollow":true},{"id":134,"name":"Modern History","url":"https://www.academia.edu/Documents/in/Modern_History?f_ri=21198","nofollow":true},{"id":137,"name":"Economic History","url":"https://www.academia.edu/Documents/in/Economic_History?f_ri=21198","nofollow":true},{"id":792,"name":"Historical Anthropology","url":"https://www.academia.edu/Documents/in/Historical_Anthropology?f_ri=21198","nofollow":true},{"id":1446,"name":"Medieval History","url":"https://www.academia.edu/Documents/in/Medieval_History?f_ri=21198"},{"id":1727,"name":"Early Modern History","url":"https://www.academia.edu/Documents/in/Early_Modern_History?f_ri=21198"},{"id":7978,"name":"Political History","url":"https://www.academia.edu/Documents/in/Political_History?f_ri=21198"},{"id":10842,"name":"Cadastral Systems","url":"https://www.academia.edu/Documents/in/Cadastral_Systems?f_ri=21198"},{"id":15588,"name":"Social History","url":"https://www.academia.edu/Documents/in/Social_History?f_ri=21198"},{"id":21198,"name":"Fiscal policy","url":"https://www.academia.edu/Documents/in/Fiscal_policy?f_ri=21198"},{"id":27282,"name":"Fiscal History","url":"https://www.academia.edu/Documents/in/Fiscal_History?f_ri=21198"},{"id":78900,"name":"Land Surveying","url":"https://www.academia.edu/Documents/in/Land_Surveying?f_ri=21198"},{"id":400320,"name":"History of Land Surveys","url":"https://www.academia.edu/Documents/in/History_of_Land_Surveys?f_ri=21198"},{"id":652549,"name":"Cadastral books","url":"https://www.academia.edu/Documents/in/Cadastral_books?f_ri=21198"}]}, }) } })();</script></ul></li></ul></div></div><div class="u-borderBottom1 u-borderColorGrayLighter"><div class="clearfix u-pv7x u-mb0x js-work-card work_17152879" data-work_id="17152879" itemscope="itemscope" itemtype="https://schema.org/ScholarlyArticle"><div class="header"><div class="title u-fontSerif u-fs22 u-lineHeight1_3"><a class="u-tcGrayDarkest js-work-link" href="https://www.academia.edu/17152879/La_Presi%C3%B3n_Fiscal_en_Espa%C3%B1a_1983_2008">La Presión Fiscal en España 1983 - 2008</a></div></div><div class="u-pb4x u-mt3x"><div class="summary u-fs14 u-fw300 u-lineHeight1_5 u-tcGrayDarkest"><div class="summarized">En este artículo analizamos la evolución de la presión fiscal en España en el periodo 1983 – 2008. Las sucesivas reformas fiscales habidas en España, la propia evolución del ciclo económico, así como el elevado y cambiante nivel de... <a class="more_link u-tcGrayDark u-linkUnstyled" data-container=".work_17152879" data-show=".complete" data-hide=".summarized" data-more-link-behavior="true" href="#">more</a></div><div class="complete hidden">En este artículo analizamos la evolución de la presión fiscal en España en el periodo<br />1983 – 2008. Las sucesivas reformas fiscales habidas en España, la propia evolución<br />del ciclo económico, así como el elevado y cambiante nivel de economía sumergida<br />introducen importantes sesgos en las estimaciones oficiales. Por ello hemos tratado<br />de revelar las debilidades de tales estimaciones así como aportar nuestro propio<br />cálculo. Nuestros hallazgos apuntan a una creciente brecha entre los datos oficiales y<br />la presión fiscal efectivamente soportada por los ciudadanos. Actualmente la presión<br />fiscal real se sitúa entre 6 y 7 puntos por debajo de los niveles que indica la OCDE.<br />La presión fiscal efectiva es pro – cíclica, e incrementos en el tipo mínimo del IRPF<br />y de las cotizaciones sociales elevan la presión fiscal. Incrementos en el tipo<br />máximo del IRPF y el IVA la reducen.</div></div></div><ul class="InlineList u-ph0x u-fs13"><li class="InlineList-item logged_in_only"><div class="share_on_academia_work_button"><a class="academia_share Button Button--inverseBlue Button--sm js-bookmark-button" data-academia-share="Work/17152879" data-share-source="work_strip" data-spinner="small_white_hide_contents"><i class="fa fa-plus"></i><span class="work-strip-link-text u-ml1x" data-content="button_text">Bookmark</span></a></div></li><li class="InlineList-item"><div class="download"><a id="3478cbee94552a509ae9ce377358de30" rel="nofollow" data-download="{"attachment_id":39355288,"asset_id":17152879,"asset_type":"Work","always_allow_download":false,"track":null,"button_location":"work_strip","source":null,"hide_modal":null}" class="Button Button--sm Button--inverseGreen js-download-button prompt_button doc_download" href="https://www.academia.edu/attachments/39355288/download_file?st=MTc0MDE1MDU5Miw4LjIyMi4yMDguMTQ2&s=work_strip"><i class="fa fa-arrow-circle-o-down fa-lg"></i><span class="u-textUppercase u-ml1x" data-content="button_text">Download</span></a></div></li><li class="InlineList-item"><ul class="InlineList InlineList--bordered u-ph0x"><li class="InlineList-item InlineList-item--bordered"><span class="InlineList-item-text">by <span itemscope="itemscope" itemprop="author" itemtype="https://schema.org/Person"><a class="u-tcGrayDark u-fw700" data-has-card-for-user="2258109" href="https://independent.academia.edu/Jos%C3%A9FranciscoBellodRedondo">José Francisco Bellod Redondo</a><script data-card-contents-for-user="2258109" type="text/json">{"id":2258109,"first_name":"José Francisco","last_name":"Bellod Redondo","domain_name":"independent","page_name":"JoséFranciscoBellodRedondo","display_name":"José Francisco Bellod Redondo","profile_url":"https://independent.academia.edu/Jos%C3%A9FranciscoBellodRedondo?f_ri=21198","photo":"https://0.academia-photos.com/2258109/719448/3079122/s65_jos_francisco.bellod_redondo.jpg"}</script></span></span></li><li class="js-paper-rank-work_17152879 InlineList-item InlineList-item--bordered hidden"><span class="js-paper-rank-view hidden u-tcGrayDark" data-paper-rank-work-id="17152879"><i class="u-m1x fa fa-bar-chart"></i><strong class="js-paper-rank"></strong></span><script>$(function() { new Works.PaperRankView({ workId: 17152879, container: ".js-paper-rank-work_17152879", }); 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Las sucesivas reformas fiscales habidas en España, la propia evolución\ndel ciclo económico, así como el elevado y cambiante nivel de economía sumergida\nintroducen importantes sesgos en las estimaciones oficiales. Por ello hemos tratado\nde revelar las debilidades de tales estimaciones así como aportar nuestro propio\ncálculo. Nuestros hallazgos apuntan a una creciente brecha entre los datos oficiales y\nla presión fiscal efectivamente soportada por los ciudadanos. Actualmente la presión\nfiscal real se sitúa entre 6 y 7 puntos por debajo de los niveles que indica la OCDE.\nLa presión fiscal efectiva es pro – cíclica, e incrementos en el tipo mínimo del IRPF\ny de las cotizaciones sociales elevan la presión fiscal. Incrementos en el tipo\nmáximo del IRPF y el IVA la reducen. ","downloadable_attachments":[{"id":39355288,"asset_id":17152879,"asset_type":"Work","always_allow_download":false}],"ordered_authors":[{"id":2258109,"first_name":"José Francisco","last_name":"Bellod Redondo","domain_name":"independent","page_name":"JoséFranciscoBellodRedondo","display_name":"José Francisco Bellod Redondo","profile_url":"https://independent.academia.edu/Jos%C3%A9FranciscoBellodRedondo?f_ri=21198","photo":"https://0.academia-photos.com/2258109/719448/3079122/s65_jos_francisco.bellod_redondo.jpg"}],"research_interests":[{"id":4770,"name":"Taxation","url":"https://www.academia.edu/Documents/in/Taxation?f_ri=21198","nofollow":true},{"id":8358,"name":"Public Budgeting and Finance","url":"https://www.academia.edu/Documents/in/Public_Budgeting_and_Finance?f_ri=21198","nofollow":true},{"id":21198,"name":"Fiscal policy","url":"https://www.academia.edu/Documents/in/Fiscal_policy?f_ri=21198","nofollow":true},{"id":63445,"name":"Tax Burden","url":"https://www.academia.edu/Documents/in/Tax_Burden?f_ri=21198","nofollow":true}]}, }) } })();</script></ul></li></ul></div></div><div class="u-borderBottom1 u-borderColorGrayLighter"><div class="clearfix u-pv7x u-mb0x js-work-card work_12690236" data-work_id="12690236" itemscope="itemscope" itemtype="https://schema.org/ScholarlyArticle"><div class="header"><div class="title u-fontSerif u-fs22 u-lineHeight1_3"><a class="u-tcGrayDarkest js-work-link" href="https://www.academia.edu/12690236/Financing_the_Progressive_Realisation_of_Socio_Economic_Rights_in_Kenya">Financing the Progressive Realisation of Socio Economic Rights in Kenya</a></div></div><div class="u-pb4x u-mt3x"><div class="summary u-fs14 u-fw300 u-lineHeight1_5 u-tcGrayDarkest"><div class="summarized">Socio economic rights are to be realised progressively through the allocation of adequate financial resources and by the setting up of infrastructure county-wide. Consequently, the Kenyan government is to... <a class="more_link u-tcGrayDark u-linkUnstyled" data-container=".work_12690236" data-show=".complete" data-hide=".summarized" data-more-link-behavior="true" href="#">more</a></div><div class="complete hidden">Socio economic  rights  are  to be  realised  progressively  through  the  allocation  of  adequate  financial  resources  and  by  the setting  up  of  infrastructure  county-wide.  Consequently,  the  Kenyan  government  is  to  allocate  the  maximum  of  its available resources towards the realisation of these rights. In the event the state fails to allocate the maximum of its available  resources  to  realising these  rights,  it  shall  be  considered  to  be  in  violation  of  the  ICESCR  under  the Maastricht  Guidelines  on  violations  of  economic,  social  and  cultural  rights. However  the  sources  of  government revenue  come  from  taxation  and  other  forms  of  state  revenue  and are  split  between  many  needs  of  both  recurrent and  development  expenditure.  This  is  the  background  against  which  this  paper  shall  discuss  financing  the progressive realisation of socio economic rights in Kenya.</div></div></div><ul class="InlineList u-ph0x u-fs13"><li class="InlineList-item logged_in_only"><div class="share_on_academia_work_button"><a class="academia_share Button Button--inverseBlue Button--sm js-bookmark-button" data-academia-share="Work/12690236" data-share-source="work_strip" data-spinner="small_white_hide_contents"><i class="fa fa-plus"></i><span class="work-strip-link-text u-ml1x" data-content="button_text">Bookmark</span></a></div></li><li class="InlineList-item"><div class="download"><a id="03270cfc1f62e9ea9ebcd1efb151bd33" rel="nofollow" data-download="{"attachment_id":64416927,"asset_id":12690236,"asset_type":"Work","always_allow_download":false,"track":null,"button_location":"work_strip","source":null,"hide_modal":null}" class="Button Button--sm Button--inverseGreen js-download-button prompt_button doc_download" href="https://www.academia.edu/attachments/64416927/download_file?st=MTc0MDE1MDU5Miw4LjIyMi4yMDguMTQ2&s=work_strip"><i class="fa fa-arrow-circle-o-down fa-lg"></i><span class="u-textUppercase u-ml1x" data-content="button_text">Download</span></a></div></li><li class="InlineList-item"><ul class="InlineList InlineList--bordered u-ph0x"><li class="InlineList-item InlineList-item--bordered"><span class="InlineList-item-text">by <span itemscope="itemscope" itemprop="author" itemtype="https://schema.org/Person"><a class="u-tcGrayDark u-fw700" data-has-card-for-user="17459579" href="https://smis.academia.edu/LylaLatif">Lyla Latif</a><script data-card-contents-for-user="17459579" type="text/json">{"id":17459579,"first_name":"Lyla","last_name":"Latif","domain_name":"smis","page_name":"LylaLatif","display_name":"Lyla Latif","profile_url":"https://smis.academia.edu/LylaLatif?f_ri=21198","photo":"https://0.academia-photos.com/17459579/4852966/49327974/s65_lyla.latif.jpeg"}</script></span></span></li><li class="js-paper-rank-work_12690236 InlineList-item InlineList-item--bordered hidden"><span class="js-paper-rank-view hidden u-tcGrayDark" data-paper-rank-work-id="12690236"><i class="u-m1x fa fa-bar-chart"></i><strong class="js-paper-rank"></strong></span><script>$(function() { new Works.PaperRankView({ workId: 12690236, container: ".js-paper-rank-work_12690236", }); 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$(".js-view-count[data-work-id=12690236]").text(description); $(".js-view-count-work_12690236").attr('title', description).tooltip(); }); });</script></span><script>$(function() { $(".js-view-count-work_12690236").removeClass('hidden') })</script></div></li><li class="InlineList-item u-positionRelative" style="max-width: 250px"><div class="u-positionAbsolute" data-has-card-for-ri-list="12690236"><i class="fa fa-tag InlineList-item-icon u-positionRelative"></i>  <a class="InlineList-item-text u-positionRelative">11</a>  </div><span class="InlineList-item-text u-textTruncate u-pl10x"><a class="InlineList-item-text" data-has-card-for-ri="47" rel="nofollow" href="https://www.academia.edu/Documents/in/Finance">Finance</a>, <script data-card-contents-for-ri="47" type="text/json">{"id":47,"name":"Finance","url":"https://www.academia.edu/Documents/in/Finance?f_ri=21198","nofollow":true}</script><a class="InlineList-item-text" data-has-card-for-ri="547" rel="nofollow" href="https://www.academia.edu/Documents/in/Constitutional_Law">Constitutional Law</a>, <script data-card-contents-for-ri="547" type="text/json">{"id":547,"name":"Constitutional Law","url":"https://www.academia.edu/Documents/in/Constitutional_Law?f_ri=21198","nofollow":true}</script><a class="InlineList-item-text" data-has-card-for-ri="4770" rel="nofollow" href="https://www.academia.edu/Documents/in/Taxation">Taxation</a>, <script data-card-contents-for-ri="4770" type="text/json">{"id":4770,"name":"Taxation","url":"https://www.academia.edu/Documents/in/Taxation?f_ri=21198","nofollow":true}</script><a class="InlineList-item-text" data-has-card-for-ri="13673" rel="nofollow" href="https://www.academia.edu/Documents/in/Socio_Economic_Rights">Socio Economic Rights</a><script data-card-contents-for-ri="13673" type="text/json">{"id":13673,"name":"Socio Economic Rights","url":"https://www.academia.edu/Documents/in/Socio_Economic_Rights?f_ri=21198","nofollow":true}</script></span></li><script>(function(){ if (true) { new Aedu.ResearchInterestListCard({ el: $('*[data-has-card-for-ri-list=12690236]'), work: {"id":12690236,"title":"Financing the Progressive Realisation of Socio Economic Rights in Kenya","created_at":"2015-05-30T12:34:16.049-07:00","url":"https://www.academia.edu/12690236/Financing_the_Progressive_Realisation_of_Socio_Economic_Rights_in_Kenya?f_ri=21198","dom_id":"work_12690236","summary":"Socio economic rights are to be realised progressively through the allocation of adequate financial resources and by the setting up of infrastructure county-wide. Consequently, the Kenyan government is to allocate the maximum of its available resources towards the realisation of these rights. In the event the state fails to allocate the maximum of its available resources to realising these rights, it shall be considered to be in violation of the ICESCR under the Maastricht Guidelines on violations of economic, social and cultural rights. However the sources of government revenue come from taxation and other forms of state revenue and are split between many needs of both recurrent and development expenditure. This is the background against which this paper shall discuss financing the progressive realisation of socio economic rights in Kenya. \n","downloadable_attachments":[{"id":64416927,"asset_id":12690236,"asset_type":"Work","always_allow_download":false}],"ordered_authors":[{"id":17459579,"first_name":"Lyla","last_name":"Latif","domain_name":"smis","page_name":"LylaLatif","display_name":"Lyla Latif","profile_url":"https://smis.academia.edu/LylaLatif?f_ri=21198","photo":"https://0.academia-photos.com/17459579/4852966/49327974/s65_lyla.latif.jpeg"}],"research_interests":[{"id":47,"name":"Finance","url":"https://www.academia.edu/Documents/in/Finance?f_ri=21198","nofollow":true},{"id":547,"name":"Constitutional Law","url":"https://www.academia.edu/Documents/in/Constitutional_Law?f_ri=21198","nofollow":true},{"id":4770,"name":"Taxation","url":"https://www.academia.edu/Documents/in/Taxation?f_ri=21198","nofollow":true},{"id":13673,"name":"Socio Economic Rights","url":"https://www.academia.edu/Documents/in/Socio_Economic_Rights?f_ri=21198","nofollow":true},{"id":18892,"name":"Kenya","url":"https://www.academia.edu/Documents/in/Kenya?f_ri=21198"},{"id":21198,"name":"Fiscal policy","url":"https://www.academia.edu/Documents/in/Fiscal_policy?f_ri=21198"},{"id":46190,"name":"The Right to Health","url":"https://www.academia.edu/Documents/in/The_Right_to_Health?f_ri=21198"},{"id":97709,"name":"Right to Education","url":"https://www.academia.edu/Documents/in/Right_to_Education?f_ri=21198"},{"id":179727,"name":"Budget","url":"https://www.academia.edu/Documents/in/Budget?f_ri=21198"},{"id":215263,"name":"Right to Adequate Food and Nutrition","url":"https://www.academia.edu/Documents/in/Right_to_Adequate_Food_and_Nutrition?f_ri=21198"},{"id":1575350,"name":"Progressive realisation","url":"https://www.academia.edu/Documents/in/Progressive_realisation?f_ri=21198"}]}, }) } })();</script></ul></li></ul></div></div><div class="u-borderBottom1 u-borderColorGrayLighter"><div class="clearfix u-pv7x u-mb0x js-work-card work_1199098" data-work_id="1199098" itemscope="itemscope" itemtype="https://schema.org/ScholarlyArticle"><div class="header"><div class="title u-fontSerif u-fs22 u-lineHeight1_3"><a class="u-tcGrayDarkest js-work-link" href="https://www.academia.edu/1199098/The_Tax_Reform_Act_of_1986_and_Municipal_Bonds_A_Study_of_Three_Texas_Cities">The Tax Reform Act of 1986 and Municipal Bonds: A Study of Three Texas Cities</a></div></div><div class="u-pb4x u-mt3x"></div><ul class="InlineList u-ph0x u-fs13"><li class="InlineList-item logged_in_only"><div class="share_on_academia_work_button"><a class="academia_share Button Button--inverseBlue Button--sm js-bookmark-button" data-academia-share="Work/1199098" data-share-source="work_strip" data-spinner="small_white_hide_contents"><i class="fa fa-plus"></i><span class="work-strip-link-text u-ml1x" data-content="button_text">Bookmark</span></a></div></li><li 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href="https://txstate.academia.edu/TexasStateUniversityPublicAdministrationAppliedResearchProjects">Texas State PA Applied Research Projects</a><script data-card-contents-for-user="1087737" type="text/json">{"id":1087737,"first_name":"Texas State PA","last_name":"Applied Research Projects","domain_name":"txstate","page_name":"TexasStateUniversityPublicAdministrationAppliedResearchProjects","display_name":"Texas State PA Applied Research Projects","profile_url":"https://txstate.academia.edu/TexasStateUniversityPublicAdministrationAppliedResearchProjects?f_ri=21198","photo":"https://0.academia-photos.com/1087737/384081/465952/s65_texas_state_university_public_administration.applied_research_projects.jpeg"}</script></span></span></li><li class="js-paper-rank-work_1199098 InlineList-item InlineList-item--bordered hidden"><span class="js-paper-rank-view hidden u-tcGrayDark" data-paper-rank-work-id="1199098"><i class="u-m1x fa fa-bar-chart"></i><strong 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Finance</a>, <script data-card-contents-for-ri="741" type="text/json">{"id":741,"name":"Public Finance","url":"https://www.academia.edu/Documents/in/Public_Finance?f_ri=21198","nofollow":true}</script><a class="InlineList-item-text" data-has-card-for-ri="10054" rel="nofollow" href="https://www.academia.edu/Documents/in/State_And_Local_Public_Finance">State And Local Public Finance</a>, <script data-card-contents-for-ri="10054" type="text/json">{"id":10054,"name":"State And Local Public Finance","url":"https://www.academia.edu/Documents/in/State_And_Local_Public_Finance?f_ri=21198","nofollow":true}</script><a class="InlineList-item-text" data-has-card-for-ri="12175" rel="nofollow" href="https://www.academia.edu/Documents/in/Tax_Policy">Tax Policy</a>, <script data-card-contents-for-ri="12175" type="text/json">{"id":12175,"name":"Tax Policy","url":"https://www.academia.edu/Documents/in/Tax_Policy?f_ri=21198","nofollow":true}</script><a class="InlineList-item-text" data-has-card-for-ri="21198" rel="nofollow" href="https://www.academia.edu/Documents/in/Fiscal_policy">Fiscal policy</a><script data-card-contents-for-ri="21198" type="text/json">{"id":21198,"name":"Fiscal policy","url":"https://www.academia.edu/Documents/in/Fiscal_policy?f_ri=21198","nofollow":true}</script></span></li><script>(function(){ if (true) { new Aedu.ResearchInterestListCard({ el: $('*[data-has-card-for-ri-list=1199098]'), work: {"id":1199098,"title":"The Tax Reform Act of 1986 and Municipal Bonds: A Study of Three Texas Cities","created_at":"2012-01-04T04:36:46.916-08:00","url":"https://www.academia.edu/1199098/The_Tax_Reform_Act_of_1986_and_Municipal_Bonds_A_Study_of_Three_Texas_Cities?f_ri=21198","dom_id":"work_1199098","summary":null,"downloadable_attachments":[{"id":7437391,"asset_id":1199098,"asset_type":"Work","always_allow_download":false}],"ordered_authors":[{"id":1087737,"first_name":"Texas State PA","last_name":"Applied Research Projects","domain_name":"txstate","page_name":"TexasStateUniversityPublicAdministrationAppliedResearchProjects","display_name":"Texas State PA Applied Research Projects","profile_url":"https://txstate.academia.edu/TexasStateUniversityPublicAdministrationAppliedResearchProjects?f_ri=21198","photo":"https://0.academia-photos.com/1087737/384081/465952/s65_texas_state_university_public_administration.applied_research_projects.jpeg"}],"research_interests":[{"id":741,"name":"Public Finance","url":"https://www.academia.edu/Documents/in/Public_Finance?f_ri=21198","nofollow":true},{"id":10054,"name":"State And Local Public Finance","url":"https://www.academia.edu/Documents/in/State_And_Local_Public_Finance?f_ri=21198","nofollow":true},{"id":12175,"name":"Tax Policy","url":"https://www.academia.edu/Documents/in/Tax_Policy?f_ri=21198","nofollow":true},{"id":21198,"name":"Fiscal policy","url":"https://www.academia.edu/Documents/in/Fiscal_policy?f_ri=21198","nofollow":true}]}, }) } })();</script></ul></li></ul></div></div><div class="u-borderBottom1 u-borderColorGrayLighter"><div class="clearfix u-pv7x u-mb0x js-work-card work_48370524" data-work_id="48370524" itemscope="itemscope" itemtype="https://schema.org/ScholarlyArticle"><div class="header"><div class="title u-fontSerif u-fs22 u-lineHeight1_3"><a class="u-tcGrayDarkest js-work-link" href="https://www.academia.edu/48370524/_Core_and_Periphery_in_a_Monetary_Union_A_Macroeconomic_Policy_Game">“Core” and “Periphery” in a Monetary Union: A Macroeconomic Policy Game</a></div></div><div class="u-pb4x u-mt3x"><div class="summary u-fs14 u-fw300 u-lineHeight1_5 u-tcGrayDarkest"><div class="summarized">We use a dynamic game model of a two-country monetary union to study the impacts of an exogenous fall in aggregate demand, the resulting increase in public debt, and the consequences of a sovereign debt haircut for a member country or... <a class="more_link u-tcGrayDark u-linkUnstyled" data-container=".work_48370524" data-show=".complete" data-hide=".summarized" data-more-link-behavior="true" href="#">more</a></div><div class="complete hidden">We use a dynamic game model of a two-country monetary union to study the impacts of an exogenous fall in aggregate demand, the resulting increase in public debt, and the consequences of a sovereign debt haircut for a member country or bloc of the union. In this union, the governments of participating countries pursue national goals when deciding on fiscal policies, whereas the common central bank's monetary policy aims at union-wide objective variables. The union considered is asymmetric, consisting of a "core" with lower initial public debt, and a "periphery" with higher initial public debt. The ''periphery'' may experience a haircut due to high level of its sovereign debt. We calculate numerical solutions of the dynamic game between the governments and the central bank using the OPTGAME algorithm. We show that a haircut as modeled in our study is disadvantageous for both the "core" and the "periphery" of the monetary union. Moreover, the cooperative solution is preferable to the noncooperative equilibrium solution (both without and with a haircut), providing an argument for coordinated fiscal policies in a monetary union.</div></div></div><ul class="InlineList u-ph0x u-fs13"><li class="InlineList-item logged_in_only"><div class="share_on_academia_work_button"><a class="academia_share Button Button--inverseBlue Button--sm js-bookmark-button" data-academia-share="Work/48370524" data-share-source="work_strip" data-spinner="small_white_hide_contents"><i class="fa fa-plus"></i><span class="work-strip-link-text u-ml1x" data-content="button_text">Bookmark</span></a></div></li><li class="InlineList-item"><div class="download"><a id="0577ce0e9e083c6f4a52194bf42cdc20" rel="nofollow" data-download="{"attachment_id":67018641,"asset_id":48370524,"asset_type":"Work","always_allow_download":false,"track":null,"button_location":"work_strip","source":null,"hide_modal":null}" class="Button Button--sm Button--inverseGreen js-download-button prompt_button doc_download" href="https://www.academia.edu/attachments/67018641/download_file?st=MTc0MDE1MDU5Miw4LjIyMi4yMDguMTQ2&s=work_strip"><i class="fa fa-arrow-circle-o-down fa-lg"></i><span class="u-textUppercase u-ml1x" data-content="button_text">Download</span></a></div></li><li class="InlineList-item"><ul class="InlineList InlineList--bordered u-ph0x"><li class="InlineList-item InlineList-item--bordered"><span class="InlineList-item-text">by <span itemscope="itemscope" itemprop="author" itemtype="https://schema.org/Person"><a class="u-tcGrayDark u-fw700" data-has-card-for-user="146881477" href="https://independent.academia.edu/ReinhardNeck">Reinhard Neck</a><script data-card-contents-for-user="146881477" type="text/json">{"id":146881477,"first_name":"Reinhard","last_name":"Neck","domain_name":"independent","page_name":"ReinhardNeck","display_name":"Reinhard Neck","profile_url":"https://independent.academia.edu/ReinhardNeck?f_ri=21198","photo":"/images/s65_no_pic.png"}</script></span></span></li><li class="js-paper-rank-work_48370524 InlineList-item InlineList-item--bordered hidden"><span class="js-paper-rank-view hidden u-tcGrayDark" data-paper-rank-work-id="48370524"><i class="u-m1x fa fa-bar-chart"></i><strong class="js-paper-rank"></strong></span><script>$(function() { new Works.PaperRankView({ workId: 48370524, container: ".js-paper-rank-work_48370524", }); 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$(".js-view-count[data-work-id=48370524]").text(description); $(".js-view-count-work_48370524").attr('title', description).tooltip(); }); });</script></span><script>$(function() { $(".js-view-count-work_48370524").removeClass('hidden') })</script></div></li><li class="InlineList-item u-positionRelative" style="max-width: 250px"><div class="u-positionAbsolute" data-has-card-for-ri-list="48370524"><i class="fa fa-tag InlineList-item-icon u-positionRelative"></i>  <a class="InlineList-item-text u-positionRelative">11</a>  </div><span class="InlineList-item-text u-textTruncate u-pl10x"><a class="InlineList-item-text" data-has-card-for-ri="724" rel="nofollow" href="https://www.academia.edu/Documents/in/Economics">Economics</a>, <script data-card-contents-for-ri="724" type="text/json">{"id":724,"name":"Economics","url":"https://www.academia.edu/Documents/in/Economics?f_ri=21198","nofollow":true}</script><a class="InlineList-item-text" data-has-card-for-ri="21198" rel="nofollow" href="https://www.academia.edu/Documents/in/Fiscal_policy">Fiscal policy</a>, <script data-card-contents-for-ri="21198" type="text/json">{"id":21198,"name":"Fiscal policy","url":"https://www.academia.edu/Documents/in/Fiscal_policy?f_ri=21198","nofollow":true}</script><a class="InlineList-item-text" data-has-card-for-ri="48971" rel="nofollow" href="https://www.academia.edu/Documents/in/Monetary_Policy">Monetary Policy</a>, <script data-card-contents-for-ri="48971" type="text/json">{"id":48971,"name":"Monetary Policy","url":"https://www.academia.edu/Documents/in/Monetary_Policy?f_ri=21198","nofollow":true}</script><a class="InlineList-item-text" data-has-card-for-ri="80647" rel="nofollow" href="https://www.academia.edu/Documents/in/Public_Debt">Public Debt</a><script data-card-contents-for-ri="80647" type="text/json">{"id":80647,"name":"Public Debt","url":"https://www.academia.edu/Documents/in/Public_Debt?f_ri=21198","nofollow":true}</script></span></li><script>(function(){ if (true) { new Aedu.ResearchInterestListCard({ el: $('*[data-has-card-for-ri-list=48370524]'), work: {"id":48370524,"title":"“Core” and “Periphery” in a Monetary Union: A Macroeconomic Policy Game","created_at":"2021-05-04T15:37:17.197-07:00","url":"https://www.academia.edu/48370524/_Core_and_Periphery_in_a_Monetary_Union_A_Macroeconomic_Policy_Game?f_ri=21198","dom_id":"work_48370524","summary":"We use a dynamic game model of a two-country monetary union to study the impacts of an exogenous fall in aggregate demand, the resulting increase in public debt, and the consequences of a sovereign debt haircut for a member country or bloc of the union. In this union, the governments of participating countries pursue national goals when deciding on fiscal policies, whereas the common central bank's monetary policy aims at union-wide objective variables. The union considered is asymmetric, consisting of a \"core\" with lower initial public debt, and a \"periphery\" with higher initial public debt. The ''periphery'' may experience a haircut due to high level of its sovereign debt. We calculate numerical solutions of the dynamic game between the governments and the central bank using the OPTGAME algorithm. We show that a haircut as modeled in our study is disadvantageous for both the \"core\" and the \"periphery\" of the monetary union. Moreover, the cooperative solution is preferable to the noncooperative equilibrium solution (both without and with a haircut), providing an argument for coordinated fiscal policies in a monetary union.","downloadable_attachments":[{"id":67018641,"asset_id":48370524,"asset_type":"Work","always_allow_download":false}],"ordered_authors":[{"id":146881477,"first_name":"Reinhard","last_name":"Neck","domain_name":"independent","page_name":"ReinhardNeck","display_name":"Reinhard Neck","profile_url":"https://independent.academia.edu/ReinhardNeck?f_ri=21198","photo":"/images/s65_no_pic.png"}],"research_interests":[{"id":724,"name":"Economics","url":"https://www.academia.edu/Documents/in/Economics?f_ri=21198","nofollow":true},{"id":21198,"name":"Fiscal policy","url":"https://www.academia.edu/Documents/in/Fiscal_policy?f_ri=21198","nofollow":true},{"id":48971,"name":"Monetary Policy","url":"https://www.academia.edu/Documents/in/Monetary_Policy?f_ri=21198","nofollow":true},{"id":80647,"name":"Public Debt","url":"https://www.academia.edu/Documents/in/Public_Debt?f_ri=21198","nofollow":true},{"id":112486,"name":"Macroeconomic Policy","url":"https://www.academia.edu/Documents/in/Macroeconomic_Policy?f_ri=21198"},{"id":177904,"name":"Nash Equilibrium","url":"https://www.academia.edu/Documents/in/Nash_Equilibrium?f_ri=21198"},{"id":375432,"name":"Monetary Union","url":"https://www.academia.edu/Documents/in/Monetary_Union?f_ri=21198"},{"id":517594,"name":"Central Bank","url":"https://www.academia.edu/Documents/in/Central_Bank?f_ri=21198"},{"id":896204,"name":"Numerical Solution","url":"https://www.academia.edu/Documents/in/Numerical_Solution?f_ri=21198"},{"id":959438,"name":"Strategic Interaction","url":"https://www.academia.edu/Documents/in/Strategic_Interaction?f_ri=21198"},{"id":1117206,"name":"Economic","url":"https://www.academia.edu/Documents/in/Economic?f_ri=21198"}]}, }) } })();</script></ul></li></ul></div></div><div class="u-borderBottom1 u-borderColorGrayLighter"><div class="clearfix u-pv7x u-mb0x js-work-card work_15323160" data-work_id="15323160" itemscope="itemscope" itemtype="https://schema.org/ScholarlyArticle"><div class="header"><div class="title u-fontSerif u-fs22 u-lineHeight1_3"><a class="u-tcGrayDarkest js-work-link" href="https://www.academia.edu/15323160/INDIAN_FISCAL_POLICY_ARE_THEY_RELEVANT">INDIAN FISCAL POLICY: ARE THEY RELEVANT?</a></div></div><div class="u-pb4x u-mt3x"><div class="summary u-fs14 u-fw300 u-lineHeight1_5 u-tcGrayDarkest"><div class="summarized">Fiscal policy in India is the taxation policy through which government generates funds for public expenditure. Development requires change process, which comes through effective governance. Fiscal policy aims in growth, equity and... <a class="more_link u-tcGrayDark u-linkUnstyled" data-container=".work_15323160" data-show=".complete" data-hide=".summarized" data-more-link-behavior="true" href="#">more</a></div><div class="complete hidden">Fiscal policy in India is the taxation policy through which government generates funds for public expenditure. Development requires change process, which comes through effective governance. Fiscal policy aims in growth, equity and stability factor of the country. Present article argues whether prevailing system of fiscal measure in the country are adequate for development. The paper also suggests valuable measures to the government for making fiscal measures of the country more efficient and effective, for growth and development.</div></div></div><ul class="InlineList u-ph0x u-fs13"><li class="InlineList-item logged_in_only"><div class="share_on_academia_work_button"><a class="academia_share Button Button--inverseBlue Button--sm js-bookmark-button" data-academia-share="Work/15323160" data-share-source="work_strip" data-spinner="small_white_hide_contents"><i class="fa fa-plus"></i><span class="work-strip-link-text u-ml1x" data-content="button_text">Bookmark</span></a></div></li><li class="InlineList-item"><div class="download"><a id="998f9ecc155dbe60d8cb701f6d76f20d" rel="nofollow" data-download="{"attachment_id":38634452,"asset_id":15323160,"asset_type":"Work","always_allow_download":false,"track":null,"button_location":"work_strip","source":null,"hide_modal":null}" class="Button Button--sm Button--inverseGreen js-download-button prompt_button doc_download" href="https://www.academia.edu/attachments/38634452/download_file?st=MTc0MDE1MDU5Miw4LjIyMi4yMDguMTQ2&s=work_strip"><i class="fa fa-arrow-circle-o-down fa-lg"></i><span class="u-textUppercase u-ml1x" data-content="button_text">Download</span></a></div></li><li class="InlineList-item"><ul class="InlineList InlineList--bordered u-ph0x"><li class="InlineList-item InlineList-item--bordered"><span class="InlineList-item-text">by <span itemscope="itemscope" itemprop="author" itemtype="https://schema.org/Person"><a class="u-tcGrayDark u-fw700" data-has-card-for-user="22961047" href="https://ptssou.academia.edu/DrPushkarDubey">Dr. Pushkar Dubey</a><script data-card-contents-for-user="22961047" type="text/json">{"id":22961047,"first_name":"Dr. Pushkar","last_name":"Dubey","domain_name":"ptssou","page_name":"DrPushkarDubey","display_name":"Dr. Pushkar Dubey","profile_url":"https://ptssou.academia.edu/DrPushkarDubey?f_ri=21198","photo":"https://0.academia-photos.com/22961047/6232214/14391252/s65_dr._pushkar.dubey.jpg"}</script></span></span></li><li class="js-paper-rank-work_15323160 InlineList-item InlineList-item--bordered hidden"><span class="js-paper-rank-view hidden u-tcGrayDark" data-paper-rank-work-id="15323160"><i class="u-m1x fa fa-bar-chart"></i><strong class="js-paper-rank"></strong></span><script>$(function() { new Works.PaperRankView({ workId: 15323160, container: ".js-paper-rank-work_15323160", }); 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Development requires change process, which comes through effective governance. Fiscal policy aims in growth, equity and stability factor of the country. Present article argues whether prevailing system of fiscal measure in the country are adequate for development. The paper also suggests valuable measures to the government for making fiscal measures of the country more efficient and effective, for growth and development.","downloadable_attachments":[{"id":38634452,"asset_id":15323160,"asset_type":"Work","always_allow_download":false}],"ordered_authors":[{"id":22961047,"first_name":"Dr. Pushkar","last_name":"Dubey","domain_name":"ptssou","page_name":"DrPushkarDubey","display_name":"Dr. Pushkar Dubey","profile_url":"https://ptssou.academia.edu/DrPushkarDubey?f_ri=21198","photo":"https://0.academia-photos.com/22961047/6232214/14391252/s65_dr._pushkar.dubey.jpg"}],"research_interests":[{"id":4484,"name":"Economic Growth","url":"https://www.academia.edu/Documents/in/Economic_Growth?f_ri=21198","nofollow":true},{"id":21198,"name":"Fiscal policy","url":"https://www.academia.edu/Documents/in/Fiscal_policy?f_ri=21198","nofollow":true},{"id":569836,"name":"Economic equity","url":"https://www.academia.edu/Documents/in/Economic_equity?f_ri=21198","nofollow":true}]}, }) } })();</script></ul></li></ul></div></div><div class="u-borderBottom1 u-borderColorGrayLighter"><div class="clearfix u-pv7x u-mb0x js-work-card work_54564482" data-work_id="54564482" itemscope="itemscope" itemtype="https://schema.org/ScholarlyArticle"><div class="header"><div class="title u-fontSerif u-fs22 u-lineHeight1_3"><a class="u-tcGrayDarkest js-work-link" href="https://www.academia.edu/54564482/Choosing_a_place_to_live_and_a_workplace">Choosing a place to live and a workplace</a></div></div><div class="u-pb4x u-mt3x"></div><ul class="InlineList u-ph0x u-fs13"><li class="InlineList-item logged_in_only"><div class="share_on_academia_work_button"><a class="academia_share Button Button--inverseBlue Button--sm js-bookmark-button" data-academia-share="Work/54564482" data-share-source="work_strip" data-spinner="small_white_hide_contents"><i class="fa fa-plus"></i><span class="work-strip-link-text u-ml1x" data-content="button_text">Bookmark</span></a></div></li><li class="InlineList-item"><div class="download"><a id="d5bd9f9b287ad31377aaec71f6dd2947" rel="nofollow" data-download="{"attachment_id":70869318,"asset_id":54564482,"asset_type":"Work","always_allow_download":false,"track":null,"button_location":"work_strip","source":null,"hide_modal":null}" class="Button Button--sm Button--inverseGreen js-download-button prompt_button doc_download" href="https://www.academia.edu/attachments/70869318/download_file?st=MTc0MDE1MDU5Miw4LjIyMi4yMDguMTQ2&s=work_strip"><i class="fa fa-arrow-circle-o-down fa-lg"></i><span class="u-textUppercase u-ml1x" data-content="button_text">Download</span></a></div></li><li class="InlineList-item"><ul class="InlineList InlineList--bordered u-ph0x"><li class="InlineList-item InlineList-item--bordered"><span class="InlineList-item-text">by <span itemscope="itemscope" itemprop="author" itemtype="https://schema.org/Person"><a class="u-tcGrayDark u-fw700" data-has-card-for-user="9007677" href="https://richmondfed.academia.edu/spinto">santiago pinto</a><script data-card-contents-for-user="9007677" type="text/json">{"id":9007677,"first_name":"santiago","last_name":"pinto","domain_name":"richmondfed","page_name":"spinto","display_name":"santiago pinto","profile_url":"https://richmondfed.academia.edu/spinto?f_ri=21198","photo":"/images/s65_no_pic.png"}</script></span></span></li><li class="js-paper-rank-work_54564482 InlineList-item InlineList-item--bordered hidden"><span class="js-paper-rank-view hidden u-tcGrayDark" data-paper-rank-work-id="54564482"><i class="u-m1x fa fa-bar-chart"></i><strong class="js-paper-rank"></strong></span><script>$(function() { new Works.PaperRankView({ workId: 54564482, container: ".js-paper-rank-work_54564482", }); 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$(".js-view-count[data-work-id=54564482]").text(description); $(".js-view-count-work_54564482").attr('title', description).tooltip(); }); });</script></span><script>$(function() { $(".js-view-count-work_54564482").removeClass('hidden') })</script></div></li><li class="InlineList-item u-positionRelative" style="max-width: 250px"><div class="u-positionAbsolute" data-has-card-for-ri-list="54564482"><i class="fa fa-tag InlineList-item-icon u-positionRelative"></i>  <a class="InlineList-item-text u-positionRelative">5</a>  </div><span class="InlineList-item-text u-textTruncate u-pl9x"><a class="InlineList-item-text" data-has-card-for-ri="21198" rel="nofollow" href="https://www.academia.edu/Documents/in/Fiscal_policy">Fiscal policy</a>, <script data-card-contents-for-ri="21198" type="text/json">{"id":21198,"name":"Fiscal policy","url":"https://www.academia.edu/Documents/in/Fiscal_policy?f_ri=21198","nofollow":true}</script><a class="InlineList-item-text" data-has-card-for-ri="345361" rel="nofollow" href="https://www.academia.edu/Documents/in/Geographic_distribution">Geographic distribution</a>, <script data-card-contents-for-ri="345361" type="text/json">{"id":345361,"name":"Geographic distribution","url":"https://www.academia.edu/Documents/in/Geographic_distribution?f_ri=21198","nofollow":true}</script><a class="InlineList-item-text" data-has-card-for-ri="499686" rel="nofollow" href="https://www.academia.edu/Documents/in/Economica">Economica</a>, <script data-card-contents-for-ri="499686" type="text/json">{"id":499686,"name":"Economica","url":"https://www.academia.edu/Documents/in/Economica?f_ri=21198","nofollow":true}</script><a class="InlineList-item-text" data-has-card-for-ri="963033" rel="nofollow" href="https://www.academia.edu/Documents/in/Econ%C3%B3mica">Económica</a><script data-card-contents-for-ri="963033" type="text/json">{"id":963033,"name":"Económica","url":"https://www.academia.edu/Documents/in/Econ%C3%B3mica?f_ri=21198","nofollow":true}</script></span></li><script>(function(){ if (true) { new Aedu.ResearchInterestListCard({ el: $('*[data-has-card-for-ri-list=54564482]'), work: {"id":54564482,"title":"Choosing a place to live and a workplace","created_at":"2021-10-01T04:42:58.098-07:00","url":"https://www.academia.edu/54564482/Choosing_a_place_to_live_and_a_workplace?f_ri=21198","dom_id":"work_54564482","summary":null,"downloadable_attachments":[{"id":70869318,"asset_id":54564482,"asset_type":"Work","always_allow_download":false}],"ordered_authors":[{"id":9007677,"first_name":"santiago","last_name":"pinto","domain_name":"richmondfed","page_name":"spinto","display_name":"santiago pinto","profile_url":"https://richmondfed.academia.edu/spinto?f_ri=21198","photo":"/images/s65_no_pic.png"}],"research_interests":[{"id":21198,"name":"Fiscal policy","url":"https://www.academia.edu/Documents/in/Fiscal_policy?f_ri=21198","nofollow":true},{"id":345361,"name":"Geographic distribution","url":"https://www.academia.edu/Documents/in/Geographic_distribution?f_ri=21198","nofollow":true},{"id":499686,"name":"Economica","url":"https://www.academia.edu/Documents/in/Economica?f_ri=21198","nofollow":true},{"id":963033,"name":"Económica","url":"https://www.academia.edu/Documents/in/Econ%C3%B3mica?f_ri=21198","nofollow":true},{"id":1984794,"name":"Urban Area","url":"https://www.academia.edu/Documents/in/Urban_Area?f_ri=21198"}]}, }) } })();</script></ul></li></ul></div></div><div class="u-borderBottom1 u-borderColorGrayLighter"><div class="clearfix u-pv7x u-mb0x js-work-card work_71623915" data-work_id="71623915" itemscope="itemscope" itemtype="https://schema.org/ScholarlyArticle"><div class="header"><div class="title u-fontSerif u-fs22 u-lineHeight1_3"><a class="u-tcGrayDarkest js-work-link" href="https://www.academia.edu/71623915/Natural_resources_economic_growth_and_institutions_a_panel_approach">Natural resources, economic growth and institutionsa panel approach</a></div></div><div class="u-pb4x u-mt3x"><div class="summary u-fs14 u-fw300 u-lineHeight1_5 u-tcGrayDarkest"><div class="summarized">This study re-evaluates the impact of natural resources on growth using panel data and a factor-efficiency accounting framework. The resource-curse thesis is dismissed as capital efficiency is improved by geographically-concentrated... <a class="more_link u-tcGrayDark u-linkUnstyled" data-container=".work_71623915" data-show=".complete" data-hide=".summarized" data-more-link-behavior="true" href="#">more</a></div><div class="complete hidden">This study re-evaluates the impact of natural resources on growth using panel data and a factor-efficiency accounting framework. The resource-curse thesis is dismissed as capital efficiency is improved by geographically-concentrated natural resources, which hinder institutional ...</div></div></div><ul class="InlineList u-ph0x u-fs13"><li class="InlineList-item logged_in_only"><div class="share_on_academia_work_button"><a class="academia_share Button Button--inverseBlue Button--sm js-bookmark-button" data-academia-share="Work/71623915" data-share-source="work_strip" data-spinner="small_white_hide_contents"><i class="fa fa-plus"></i><span class="work-strip-link-text u-ml1x" data-content="button_text">Bookmark</span></a></div></li><li class="InlineList-item"><div class="download"><a id="cec8499a62c9913278e9e7539cada114" rel="nofollow" data-download="{"attachment_id":80888481,"asset_id":71623915,"asset_type":"Work","always_allow_download":false,"track":null,"button_location":"work_strip","source":null,"hide_modal":null}" class="Button Button--sm Button--inverseGreen js-download-button prompt_button doc_download" href="https://www.academia.edu/attachments/80888481/download_file?st=MTc0MDE1MDU5Miw4LjIyMi4yMDguMTQ2&s=work_strip"><i class="fa fa-arrow-circle-o-down fa-lg"></i><span class="u-textUppercase u-ml1x" data-content="button_text">Download</span></a></div></li><li class="InlineList-item"><ul class="InlineList InlineList--bordered u-ph0x"><li class="InlineList-item InlineList-item--bordered"><span class="InlineList-item-text">by <span itemscope="itemscope" itemprop="author" itemtype="https://schema.org/Person"><a class="u-tcGrayDark u-fw700" data-has-card-for-user="695237" href="https://independent.academia.edu/%C3%93scarAfonso">Óscar Afonso</a><script data-card-contents-for-user="695237" type="text/json">{"id":695237,"first_name":"Óscar","last_name":"Afonso","domain_name":"independent","page_name":"ÓscarAfonso","display_name":"Óscar Afonso","profile_url":"https://independent.academia.edu/%C3%93scarAfonso?f_ri=21198","photo":"/images/s65_no_pic.png"}</script></span></span></li><li class="js-paper-rank-work_71623915 InlineList-item InlineList-item--bordered hidden"><span class="js-paper-rank-view hidden u-tcGrayDark" data-paper-rank-work-id="71623915"><i class="u-m1x fa fa-bar-chart"></i><strong class="js-paper-rank"></strong></span><script>$(function() { new Works.PaperRankView({ workId: 71623915, container: ".js-paper-rank-work_71623915", }); 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$(".js-view-count[data-work-id=71623915]").text(description); $(".js-view-count-work_71623915").attr('title', description).tooltip(); }); });</script></span><script>$(function() { $(".js-view-count-work_71623915").removeClass('hidden') })</script></div></li><li class="InlineList-item u-positionRelative" style="max-width: 250px"><div class="u-positionAbsolute" data-has-card-for-ri-list="71623915"><i class="fa fa-tag InlineList-item-icon u-positionRelative"></i>  <a class="InlineList-item-text u-positionRelative">10</a>  </div><span class="InlineList-item-text u-textTruncate u-pl10x"><a class="InlineList-item-text" data-has-card-for-ri="724" rel="nofollow" href="https://www.academia.edu/Documents/in/Economics">Economics</a>, <script data-card-contents-for-ri="724" type="text/json">{"id":724,"name":"Economics","url":"https://www.academia.edu/Documents/in/Economics?f_ri=21198","nofollow":true}</script><a class="InlineList-item-text" data-has-card-for-ri="2216" rel="nofollow" href="https://www.academia.edu/Documents/in/Natural_Resources">Natural Resources</a>, <script data-card-contents-for-ri="2216" type="text/json">{"id":2216,"name":"Natural Resources","url":"https://www.academia.edu/Documents/in/Natural_Resources?f_ri=21198","nofollow":true}</script><a class="InlineList-item-text" data-has-card-for-ri="4484" rel="nofollow" href="https://www.academia.edu/Documents/in/Economic_Growth">Economic Growth</a>, <script data-card-contents-for-ri="4484" type="text/json">{"id":4484,"name":"Economic Growth","url":"https://www.academia.edu/Documents/in/Economic_Growth?f_ri=21198","nofollow":true}</script><a class="InlineList-item-text" data-has-card-for-ri="21198" rel="nofollow" href="https://www.academia.edu/Documents/in/Fiscal_policy">Fiscal policy</a><script data-card-contents-for-ri="21198" type="text/json">{"id":21198,"name":"Fiscal policy","url":"https://www.academia.edu/Documents/in/Fiscal_policy?f_ri=21198","nofollow":true}</script></span></li><script>(function(){ if (true) { new Aedu.ResearchInterestListCard({ el: $('*[data-has-card-for-ri-list=71623915]'), work: {"id":71623915,"title":"Natural resources, economic growth and institutionsa panel approach","created_at":"2022-02-15T09:28:09.991-08:00","url":"https://www.academia.edu/71623915/Natural_resources_economic_growth_and_institutions_a_panel_approach?f_ri=21198","dom_id":"work_71623915","summary":"This study re-evaluates the impact of natural resources on growth using panel data and a factor-efficiency accounting framework. The resource-curse thesis is dismissed as capital efficiency is improved by geographically-concentrated natural resources, which hinder institutional ...","downloadable_attachments":[{"id":80888481,"asset_id":71623915,"asset_type":"Work","always_allow_download":false}],"ordered_authors":[{"id":695237,"first_name":"Óscar","last_name":"Afonso","domain_name":"independent","page_name":"ÓscarAfonso","display_name":"Óscar Afonso","profile_url":"https://independent.academia.edu/%C3%93scarAfonso?f_ri=21198","photo":"/images/s65_no_pic.png"}],"research_interests":[{"id":724,"name":"Economics","url":"https://www.academia.edu/Documents/in/Economics?f_ri=21198","nofollow":true},{"id":2216,"name":"Natural Resources","url":"https://www.academia.edu/Documents/in/Natural_Resources?f_ri=21198","nofollow":true},{"id":4484,"name":"Economic Growth","url":"https://www.academia.edu/Documents/in/Economic_Growth?f_ri=21198","nofollow":true},{"id":21198,"name":"Fiscal policy","url":"https://www.academia.edu/Documents/in/Fiscal_policy?f_ri=21198","nofollow":true},{"id":40860,"name":"Panel Data","url":"https://www.academia.edu/Documents/in/Panel_Data?f_ri=21198"},{"id":63804,"name":"Institutions","url":"https://www.academia.edu/Documents/in/Institutions?f_ri=21198"},{"id":76096,"name":"Resource Curse","url":"https://www.academia.edu/Documents/in/Resource_Curse?f_ri=21198"},{"id":555492,"name":"Natural Resource","url":"https://www.academia.edu/Documents/in/Natural_Resource?f_ri=21198"},{"id":719889,"name":"Institutional Quality","url":"https://www.academia.edu/Documents/in/Institutional_Quality?f_ri=21198"},{"id":966020,"name":"Cross sectional Study","url":"https://www.academia.edu/Documents/in/Cross_sectional_Study?f_ri=21198"}]}, }) } })();</script></ul></li></ul></div></div><div class="u-borderBottom1 u-borderColorGrayLighter"><div class="clearfix u-pv7x u-mb0x js-work-card work_49391600" data-work_id="49391600" itemscope="itemscope" itemtype="https://schema.org/ScholarlyArticle"><div class="header"><div class="title u-fontSerif u-fs22 u-lineHeight1_3"><a class="u-tcGrayDarkest js-work-link" href="https://www.academia.edu/49391600/Covid_19_Pandemic_and_the_Fiscal_Strategy_of_the_International_Monetary_Fund_Towards_New_Directions_in_the_Global_Political_Economy">Covid-19 Pandemic and the Fiscal Strategy of the International Monetary Fund: Towards New Directions in the Global Political Economy?</a></div></div><div class="u-pb4x u-mt3x"><div class="summary u-fs14 u-fw300 u-lineHeight1_5 u-tcGrayDarkest"><div class="summarized">This article seeks to contribute to the analyses of the impact of the Covid-19 on the global political economy. It does so through a qualitative content analysis of the key policy documents published by the International Monetary Fund... <a class="more_link u-tcGrayDark u-linkUnstyled" data-container=".work_49391600" data-show=".complete" data-hide=".summarized" data-more-link-behavior="true" href="#">more</a></div><div class="complete hidden">This article seeks to contribute to the analyses of the impact of the Covid-19 on the global political economy. It does so through a qualitative content analysis of the key policy documents published by the International Monetary Fund (IMF) since the outbreak of the pandemic crisis. The IMF has been, historically, one of the main designers of international macroeconomic governance. The paper focuses on fiscal policy, which retains a central place in the strategy of the IMF to deal with the pandemic and especially for the post-pandemic recovery phase. The analysis of the documents of the IMF contributes (i) to appreciate the interpretation of the nature of the pandemic crisis through the lenses of a prominent international financial institution, (ii) to explore the policy strategy outlined to deal with the pandemic emergency, (iii) to assess possible changes at the level of policy, and accordingly, future directions in global political economy. Evidence suggests that fiscal stimulus, public investment and planning will likely have a prominent position in the future directions of the IMF policy advice.</div></div></div><ul class="InlineList u-ph0x u-fs13"><li class="InlineList-item logged_in_only"><div class="share_on_academia_work_button"><a class="academia_share Button Button--inverseBlue Button--sm js-bookmark-button" data-academia-share="Work/49391600" data-share-source="work_strip" data-spinner="small_white_hide_contents"><i class="fa fa-plus"></i><span class="work-strip-link-text u-ml1x" data-content="button_text">Bookmark</span></a></div></li><li class="InlineList-item"><div class="download"><a id="51f4a255da1310f16ff0bf683c72f6ec" rel="nofollow" data-download="{"attachment_id":67757988,"asset_id":49391600,"asset_type":"Work","always_allow_download":false,"track":null,"button_location":"work_strip","source":null,"hide_modal":null}" class="Button Button--sm Button--inverseGreen js-download-button prompt_button doc_download" href="https://www.academia.edu/attachments/67757988/download_file?st=MTc0MDE1MDU5Miw4LjIyMi4yMDguMTQ2&s=work_strip"><i class="fa fa-arrow-circle-o-down fa-lg"></i><span class="u-textUppercase u-ml1x" data-content="button_text">Download</span></a></div></li><li class="InlineList-item"><ul class="InlineList InlineList--bordered u-ph0x"><li class="InlineList-item InlineList-item--bordered"><span class="InlineList-item-text">by <span itemscope="itemscope" itemprop="author" itemtype="https://schema.org/Person"><a class="u-tcGrayDark u-fw700" data-has-card-for-user="10689340" href="https://unina2.academia.edu/AdrianoCozzolino">Adriano Cozzolino</a><script data-card-contents-for-user="10689340" type="text/json">{"id":10689340,"first_name":"Adriano","last_name":"Cozzolino","domain_name":"unina2","page_name":"AdrianoCozzolino","display_name":"Adriano Cozzolino","profile_url":"https://unina2.academia.edu/AdrianoCozzolino?f_ri=21198","photo":"https://0.academia-photos.com/10689340/3214223/21774327/s65_adriano.cozzolino.png"}</script></span></span></li><li class="js-paper-rank-work_49391600 InlineList-item InlineList-item--bordered hidden"><span class="js-paper-rank-view hidden u-tcGrayDark" data-paper-rank-work-id="49391600"><i class="u-m1x fa fa-bar-chart"></i><strong class="js-paper-rank"></strong></span><script>$(function() { new Works.PaperRankView({ workId: 49391600, container: ".js-paper-rank-work_49391600", }); 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$(".js-view-count[data-work-id=49391600]").text(description); $(".js-view-count-work_49391600").attr('title', description).tooltip(); }); });</script></span><script>$(function() { $(".js-view-count-work_49391600").removeClass('hidden') })</script></div></li><li class="InlineList-item u-positionRelative" style="max-width: 250px"><div class="u-positionAbsolute" data-has-card-for-ri-list="49391600"><i class="fa fa-tag InlineList-item-icon u-positionRelative"></i>  <a class="InlineList-item-text u-positionRelative">11</a>  </div><span class="InlineList-item-text u-textTruncate u-pl10x"><a class="InlineList-item-text" data-has-card-for-ri="797" rel="nofollow" href="https://www.academia.edu/Documents/in/International_Relations">International Relations</a>, <script data-card-contents-for-ri="797" type="text/json">{"id":797,"name":"International Relations","url":"https://www.academia.edu/Documents/in/International_Relations?f_ri=21198","nofollow":true}</script><a class="InlineList-item-text" data-has-card-for-ri="1439" rel="nofollow" href="https://www.academia.edu/Documents/in/Globalization">Globalization</a>, <script data-card-contents-for-ri="1439" type="text/json">{"id":1439,"name":"Globalization","url":"https://www.academia.edu/Documents/in/Globalization?f_ri=21198","nofollow":true}</script><a class="InlineList-item-text" data-has-card-for-ri="6276" rel="nofollow" href="https://www.academia.edu/Documents/in/International_Political_Economy">International Political Economy</a>, <script data-card-contents-for-ri="6276" type="text/json">{"id":6276,"name":"International Political Economy","url":"https://www.academia.edu/Documents/in/International_Political_Economy?f_ri=21198","nofollow":true}</script><a class="InlineList-item-text" data-has-card-for-ri="12420" rel="nofollow" href="https://www.academia.edu/Documents/in/Neoliberalism">Neoliberalism</a><script data-card-contents-for-ri="12420" type="text/json">{"id":12420,"name":"Neoliberalism","url":"https://www.academia.edu/Documents/in/Neoliberalism?f_ri=21198","nofollow":true}</script></span></li><script>(function(){ if (true) { new Aedu.ResearchInterestListCard({ el: $('*[data-has-card-for-ri-list=49391600]'), work: {"id":49391600,"title":"Covid-19 Pandemic and the Fiscal Strategy of the International Monetary Fund: Towards New Directions in the Global Political Economy?","created_at":"2021-06-26T04:51:31.913-07:00","url":"https://www.academia.edu/49391600/Covid_19_Pandemic_and_the_Fiscal_Strategy_of_the_International_Monetary_Fund_Towards_New_Directions_in_the_Global_Political_Economy?f_ri=21198","dom_id":"work_49391600","summary":"This article seeks to contribute to the analyses of the impact of the Covid-19 on the global political economy. It does so through a qualitative content analysis of the key policy documents published by the International Monetary Fund (IMF) since the outbreak of the pandemic crisis. The IMF has been, historically, one of the main designers of international macroeconomic governance. The paper focuses on fiscal policy, which retains a central place in the strategy of the IMF to deal with the pandemic and especially for the post-pandemic recovery phase. The analysis of the documents of the IMF contributes (i) to appreciate the interpretation of the nature of the pandemic crisis through the lenses of a prominent international financial institution, (ii) to explore the policy strategy outlined to deal with the pandemic emergency, (iii) to assess possible changes at the level of policy, and accordingly, future directions in global political economy. Evidence suggests that fiscal stimulus, public investment and planning will likely have a prominent position in the future directions of the IMF policy advice.","downloadable_attachments":[{"id":67757988,"asset_id":49391600,"asset_type":"Work","always_allow_download":false}],"ordered_authors":[{"id":10689340,"first_name":"Adriano","last_name":"Cozzolino","domain_name":"unina2","page_name":"AdrianoCozzolino","display_name":"Adriano Cozzolino","profile_url":"https://unina2.academia.edu/AdrianoCozzolino?f_ri=21198","photo":"https://0.academia-photos.com/10689340/3214223/21774327/s65_adriano.cozzolino.png"}],"research_interests":[{"id":797,"name":"International Relations","url":"https://www.academia.edu/Documents/in/International_Relations?f_ri=21198","nofollow":true},{"id":1439,"name":"Globalization","url":"https://www.academia.edu/Documents/in/Globalization?f_ri=21198","nofollow":true},{"id":6276,"name":"International Political Economy","url":"https://www.academia.edu/Documents/in/International_Political_Economy?f_ri=21198","nofollow":true},{"id":12420,"name":"Neoliberalism","url":"https://www.academia.edu/Documents/in/Neoliberalism?f_ri=21198","nofollow":true},{"id":21198,"name":"Fiscal policy","url":"https://www.academia.edu/Documents/in/Fiscal_policy?f_ri=21198"},{"id":29058,"name":"Financial Crisis of 2008/2009","url":"https://www.academia.edu/Documents/in/Financial_Crisis_of_2008_2009?f_ri=21198"},{"id":39039,"name":"Keynesian Economics","url":"https://www.academia.edu/Documents/in/Keynesian_Economics?f_ri=21198"},{"id":45073,"name":"The Global Political Economy","url":"https://www.academia.edu/Documents/in/The_Global_Political_Economy?f_ri=21198"},{"id":84354,"name":"Post-Keynesian Economics","url":"https://www.academia.edu/Documents/in/Post-Keynesian_Economics?f_ri=21198"},{"id":185583,"name":"Austerity Measures","url":"https://www.academia.edu/Documents/in/Austerity_Measures?f_ri=21198"},{"id":313586,"name":"International Monetary Fund","url":"https://www.academia.edu/Documents/in/International_Monetary_Fund?f_ri=21198"}]}, }) } })();</script></ul></li></ul></div></div><div class="u-borderBottom1 u-borderColorGrayLighter"><div class="clearfix u-pv7x u-mb0x js-work-card work_20625601" data-work_id="20625601" itemscope="itemscope" itemtype="https://schema.org/ScholarlyArticle"><div class="header"><div class="title u-fontSerif u-fs22 u-lineHeight1_3"><a class="u-tcGrayDarkest js-work-link" href="https://www.academia.edu/20625601/An%C3%A1lisis_cr%C3%ADtico_de_la_evoluci%C3%B3n_y_futuro_de_la_tributaci%C3%B3n_dual_en_el_IRPF">Análisis crítico de la evolución y futuro de la tributación dual en el IRPF</a></div></div><div class="u-pb4x u-mt3x"><div class="summary u-fs14 u-fw300 u-lineHeight1_5 u-tcGrayDarkest"><div class="summarized">Una de las últimas grandes transformaciones de nuestro IRPF fue la introducción de un sistema de tributación dual por el que determinadas manifestaciones de renta recibían un trato más beneficioso al pasar a tributar a tipos... <a class="more_link u-tcGrayDark u-linkUnstyled" data-container=".work_20625601" data-show=".complete" data-hide=".summarized" data-more-link-behavior="true" href="#">more</a></div><div class="complete hidden">Una de las últimas grandes transformaciones de nuestro IRPF fue la introducción de un sistema de tributación dual por el que determinadas manifestaciones de renta recibían un trato más beneficioso al pasar a tributar a tipos proporcionales y más reducidos. Esta corriente, común en la mayoría de Estados miembros con sistemas de renta progresivos, suele justificarse con diferentes argumentos, generalmente conectados con la competencia fiscal y la competitividad de nuestro sistema tributario.<br />El objetivo de este trabajar es desentrañar la evolución de la concepción dual del IRPF y examinar cuál ha sido su tratamiento en el proceso de reforma fiscal que parece pronto a concluir con la aprobación del Proyecto de Ley. Después de este recorrido y de examinar brevemente algunas experiencias comparadas, expondremos una serie de reflexiones que han ido surgiendo a medida que realizábamos este trabajo.</div></div></div><ul class="InlineList u-ph0x u-fs13"><li class="InlineList-item logged_in_only"><div class="share_on_academia_work_button"><a class="academia_share Button Button--inverseBlue Button--sm js-bookmark-button" data-academia-share="Work/20625601" data-share-source="work_strip" data-spinner="small_white_hide_contents"><i class="fa fa-plus"></i><span class="work-strip-link-text u-ml1x" data-content="button_text">Bookmark</span></a></div></li><li class="InlineList-item"><div class="download"><a id="afff8203263efcc0bcfc4e3aeb9223e1" rel="nofollow" data-download="{"attachment_id":41472233,"asset_id":20625601,"asset_type":"Work","always_allow_download":false,"track":null,"button_location":"work_strip","source":null,"hide_modal":null}" class="Button Button--sm Button--inverseGreen js-download-button prompt_button doc_download" href="https://www.academia.edu/attachments/41472233/download_file?st=MTc0MDE1MDU5Miw4LjIyMi4yMDguMTQ2&s=work_strip"><i class="fa fa-arrow-circle-o-down fa-lg"></i><span class="u-textUppercase u-ml1x" data-content="button_text">Download</span></a></div></li><li class="InlineList-item"><ul class="InlineList InlineList--bordered u-ph0x"><li class="InlineList-item InlineList-item--bordered"><span class="InlineList-item-text">by <span itemscope="itemscope" itemprop="author" itemtype="https://schema.org/Person"><a class="u-tcGrayDark u-fw700" data-has-card-for-user="41767893" href="https://upo.academia.edu/Jos%C3%A9MiguelMartin">José Miguel Martin Rodriguez</a><script data-card-contents-for-user="41767893" type="text/json">{"id":41767893,"first_name":"José Miguel","last_name":"Martin Rodriguez","domain_name":"upo","page_name":"JoséMiguelMartin","display_name":"José Miguel Martin Rodriguez","profile_url":"https://upo.academia.edu/Jos%C3%A9MiguelMartin?f_ri=21198","photo":"https://0.academia-photos.com/41767893/11301829/12608962/s65_jos_miguel.martin_rodriguez.png"}</script></span></span></li><li class="js-paper-rank-work_20625601 InlineList-item InlineList-item--bordered hidden"><span class="js-paper-rank-view hidden u-tcGrayDark" data-paper-rank-work-id="20625601"><i class="u-m1x fa fa-bar-chart"></i><strong class="js-paper-rank"></strong></span><script>$(function() { new Works.PaperRankView({ workId: 20625601, container: ".js-paper-rank-work_20625601", }); });</script></li><li class="js-percentile-work_20625601 InlineList-item InlineList-item--bordered hidden u-tcGrayDark"><span class="percentile-widget hidden"><span class="u-mr2x percentile-widget" style="display: none">•</span><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 20625601; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-percentile-work_20625601"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></li><li class="js-view-count-work_20625601 InlineList-item InlineList-item--bordered hidden"><div><span><span class="js-view-count view-count u-mr2x" data-work-id="20625601"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 20625601; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=20625601]").text(description); $(".js-view-count-work_20625601").attr('title', description).tooltip(); }); });</script></span><script>$(function() { $(".js-view-count-work_20625601").removeClass('hidden') })</script></div></li><li class="InlineList-item u-positionRelative" style="max-width: 250px"><div class="u-positionAbsolute" data-has-card-for-ri-list="20625601"><i class="fa fa-tag InlineList-item-icon u-positionRelative"></i>  <a class="InlineList-item-text u-positionRelative">9</a>  </div><span class="InlineList-item-text u-textTruncate u-pl9x"><a class="InlineList-item-text" data-has-card-for-ri="1454" rel="nofollow" href="https://www.academia.edu/Documents/in/Tax_Law">Tax Law</a>, <script data-card-contents-for-ri="1454" type="text/json">{"id":1454,"name":"Tax Law","url":"https://www.academia.edu/Documents/in/Tax_Law?f_ri=21198","nofollow":true}</script><a class="InlineList-item-text" data-has-card-for-ri="4770" rel="nofollow" href="https://www.academia.edu/Documents/in/Taxation">Taxation</a>, <script data-card-contents-for-ri="4770" type="text/json">{"id":4770,"name":"Taxation","url":"https://www.academia.edu/Documents/in/Taxation?f_ri=21198","nofollow":true}</script><a class="InlineList-item-text" data-has-card-for-ri="12175" rel="nofollow" href="https://www.academia.edu/Documents/in/Tax_Policy">Tax Policy</a>, <script data-card-contents-for-ri="12175" type="text/json">{"id":12175,"name":"Tax Policy","url":"https://www.academia.edu/Documents/in/Tax_Policy?f_ri=21198","nofollow":true}</script><a class="InlineList-item-text" data-has-card-for-ri="21198" rel="nofollow" href="https://www.academia.edu/Documents/in/Fiscal_policy">Fiscal policy</a><script data-card-contents-for-ri="21198" type="text/json">{"id":21198,"name":"Fiscal policy","url":"https://www.academia.edu/Documents/in/Fiscal_policy?f_ri=21198","nofollow":true}</script></span></li><script>(function(){ if (true) { new Aedu.ResearchInterestListCard({ el: $('*[data-has-card-for-ri-list=20625601]'), work: {"id":20625601,"title":"Análisis crítico de la evolución y futuro de la tributación dual en el IRPF","created_at":"2016-01-23T05:39:13.786-08:00","url":"https://www.academia.edu/20625601/An%C3%A1lisis_cr%C3%ADtico_de_la_evoluci%C3%B3n_y_futuro_de_la_tributaci%C3%B3n_dual_en_el_IRPF?f_ri=21198","dom_id":"work_20625601","summary":"Una de las últimas grandes transformaciones de nuestro IRPF fue la introducción de un sistema de tributación dual por el que determinadas manifestaciones de renta recibían un trato más beneficioso al pasar a tributar a tipos proporcionales y más reducidos. Esta corriente, común en la mayoría de Estados miembros con sistemas de renta progresivos, suele justificarse con diferentes argumentos, generalmente conectados con la competencia fiscal y la competitividad de nuestro sistema tributario.\nEl objetivo de este trabajar es desentrañar la evolución de la concepción dual del IRPF y examinar cuál ha sido su tratamiento en el proceso de reforma fiscal que parece pronto a concluir con la aprobación del Proyecto de Ley. Después de este recorrido y de examinar brevemente algunas experiencias comparadas, expondremos una serie de reflexiones que han ido surgiendo a medida que realizábamos este trabajo.","downloadable_attachments":[{"id":41472233,"asset_id":20625601,"asset_type":"Work","always_allow_download":false}],"ordered_authors":[{"id":41767893,"first_name":"José Miguel","last_name":"Martin Rodriguez","domain_name":"upo","page_name":"JoséMiguelMartin","display_name":"José Miguel Martin Rodriguez","profile_url":"https://upo.academia.edu/Jos%C3%A9MiguelMartin?f_ri=21198","photo":"https://0.academia-photos.com/41767893/11301829/12608962/s65_jos_miguel.martin_rodriguez.png"}],"research_interests":[{"id":1454,"name":"Tax Law","url":"https://www.academia.edu/Documents/in/Tax_Law?f_ri=21198","nofollow":true},{"id":4770,"name":"Taxation","url":"https://www.academia.edu/Documents/in/Taxation?f_ri=21198","nofollow":true},{"id":12175,"name":"Tax Policy","url":"https://www.academia.edu/Documents/in/Tax_Policy?f_ri=21198","nofollow":true},{"id":21198,"name":"Fiscal policy","url":"https://www.academia.edu/Documents/in/Fiscal_policy?f_ri=21198","nofollow":true},{"id":83055,"name":"Derecho Fiscal","url":"https://www.academia.edu/Documents/in/Derecho_Fiscal?f_ri=21198"},{"id":153881,"name":"Impuestos y derecho tributario","url":"https://www.academia.edu/Documents/in/Impuestos_y_derecho_tributario?f_ri=21198"},{"id":340022,"name":"Impuestos Sobre La Renta","url":"https://www.academia.edu/Documents/in/Impuestos_Sobre_La_Renta?f_ri=21198"},{"id":535527,"name":"Irpf","url":"https://www.academia.edu/Documents/in/Irpf?f_ri=21198"},{"id":743568,"name":"Derecho Financiero Y Tributario","url":"https://www.academia.edu/Documents/in/Derecho_Financiero_Y_Tributario?f_ri=21198"}]}, }) } })();</script></ul></li></ul></div></div><div class="u-borderBottom1 u-borderColorGrayLighter"><div class="clearfix u-pv7x u-mb0x js-work-card work_3258519" data-work_id="3258519" itemscope="itemscope" itemtype="https://schema.org/ScholarlyArticle"><div class="header"><div class="title u-fontSerif u-fs22 u-lineHeight1_3"><a class="u-tcGrayDarkest js-work-link" href="https://www.academia.edu/3258519/Reformed_General_Sales_Tax_in_Pakistan_ABDC_2012_A_">Reformed General Sales Tax in Pakistan [ABDC 2012 = A]</a></div></div><div class="u-pb4x u-mt3x"><div class="summary u-fs14 u-fw300 u-lineHeight1_5 u-tcGrayDarkest"><div class="summarized">In Pakistan, general sales tax (GST) is the main source of revenue for the government, but it is not a particularly efficient tax. In this article, the authors discuss the situation and the government's proposal of 2010 to replace the... <a class="more_link u-tcGrayDark u-linkUnstyled" data-container=".work_3258519" data-show=".complete" data-hide=".summarized" data-more-link-behavior="true" href="#">more</a></div><div class="complete hidden">In Pakistan, general sales tax (GST) is the main source of revenue for the government, but it is not a particularly efficient tax. In this article, the authors discuss the situation and the government's proposal of 2010 to replace the existing GST by the reformed general sales tax (RGST). However, two years later, the new RGST Act has not yet entered into force.</div></div></div><ul class="InlineList u-ph0x u-fs13"><li class="InlineList-item logged_in_only"><div class="share_on_academia_work_button"><a class="academia_share Button Button--inverseBlue Button--sm js-bookmark-button" data-academia-share="Work/3258519" data-share-source="work_strip" data-spinner="small_white_hide_contents"><i class="fa fa-plus"></i><span class="work-strip-link-text u-ml1x" data-content="button_text">Bookmark</span></a></div></li><li class="InlineList-item"><div class="download"><a id="bf49b7e67b7363822879f34e262c550f" rel="nofollow" data-download="{"attachment_id":31110063,"asset_id":3258519,"asset_type":"Work","always_allow_download":false,"track":null,"button_location":"work_strip","source":null,"hide_modal":null}" class="Button Button--sm Button--inverseGreen js-download-button prompt_button doc_download" href="https://www.academia.edu/attachments/31110063/download_file?st=MTc0MDE1MDU5Miw4LjIyMi4yMDguMTQ2&s=work_strip"><i class="fa fa-arrow-circle-o-down fa-lg"></i><span class="u-textUppercase u-ml1x" data-content="button_text">Download</span></a></div></li><li class="InlineList-item"><ul class="InlineList InlineList--bordered u-ph0x"><li class="InlineList-item InlineList-item--bordered"><span class="InlineList-item-text">by <span itemscope="itemscope" itemprop="author" itemtype="https://schema.org/Person"><a class="u-tcGrayDark u-fw700" data-has-card-for-user="3747331" href="https://usq.academia.edu/ProfTapanSarker">Prof Tapan Sarker</a><script data-card-contents-for-user="3747331" type="text/json">{"id":3747331,"first_name":"Prof Tapan","last_name":"Sarker","domain_name":"usq","page_name":"ProfTapanSarker","display_name":"Prof Tapan Sarker","profile_url":"https://usq.academia.edu/ProfTapanSarker?f_ri=21198","photo":"https://0.academia-photos.com/3747331/1349409/35128916/s65_assoc_prof_tapan.sarker.jpg"}</script></span></span></li><li class="js-paper-rank-work_3258519 InlineList-item InlineList-item--bordered hidden"><span class="js-paper-rank-view hidden u-tcGrayDark" data-paper-rank-work-id="3258519"><i class="u-m1x fa fa-bar-chart"></i><strong class="js-paper-rank"></strong></span><script>$(function() { new Works.PaperRankView({ workId: 3258519, container: ".js-paper-rank-work_3258519", }); 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It reviews the working of SFCs and their critical role in... <a class="more_link u-tcGrayDark u-linkUnstyled" data-container=".work_55595535" data-show=".complete" data-hide=".summarized" data-more-link-behavior="true" href="#">more</a></div><div class="complete hidden">This book presents an in-depth analysis of key recommendations of the consecutive state finance commissions (SFCs) across states of India in the local and national perspective. It reviews the working of SFCs and their critical role in strengthening local governments, both Panchayats and municipalities in the various states. The volume attempts to identify some of the emerging issues related to the efficacy of SFC in fiscal decentralization. It appraises nearly eighty SFC reports and actions taken thereon by the respective State Governments with contextual analysis. 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Gayan</a><script data-card-contents-for-user="5181453" type="text/json">{"id":5181453,"first_name":"Precious Kerme","last_name":"Gayan","domain_name":"univerityofliberia","page_name":"PreciousKermeGayan","display_name":"Precious Kerme Gayan","profile_url":"https://univerityofliberia.academia.edu/PreciousKermeGayan?f_ri=21198","photo":"https://0.academia-photos.com/5181453/2282079/9139650/s65_precious_kerme.gayan.jpg"}</script></span></span></li><li class="js-paper-rank-work_30560744 InlineList-item InlineList-item--bordered hidden"><span class="js-paper-rank-view hidden u-tcGrayDark" data-paper-rank-work-id="30560744"><i class="u-m1x fa fa-bar-chart"></i><strong class="js-paper-rank"></strong></span><script>$(function() { new Works.PaperRankView({ workId: 30560744, container: ".js-paper-rank-work_30560744", }); });</script></li><li class="js-percentile-work_30560744 InlineList-item InlineList-item--bordered hidden u-tcGrayDark"><span class="percentile-widget hidden"><span class="u-mr2x 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$(".js-view-count-work_30560744").attr('title', description).tooltip(); }); });</script></span><script>$(function() { $(".js-view-count-work_30560744").removeClass('hidden') })</script></div></li><li class="InlineList-item u-positionRelative" style="max-width: 250px"><div class="u-positionAbsolute" data-has-card-for-ri-list="30560744"><i class="fa fa-tag InlineList-item-icon u-positionRelative"></i>  <a class="InlineList-item-text u-positionRelative">9</a>  </div><span class="InlineList-item-text u-textTruncate u-pl9x"><a class="InlineList-item-text" data-has-card-for-ri="2789" rel="nofollow" href="https://www.academia.edu/Documents/in/Government">Government</a>, <script data-card-contents-for-ri="2789" type="text/json">{"id":2789,"name":"Government","url":"https://www.academia.edu/Documents/in/Government?f_ri=21198","nofollow":true}</script><a class="InlineList-item-text" data-has-card-for-ri="4527" rel="nofollow" href="https://www.academia.edu/Documents/in/Africa">Africa</a>, <script data-card-contents-for-ri="4527" type="text/json">{"id":4527,"name":"Africa","url":"https://www.academia.edu/Documents/in/Africa?f_ri=21198","nofollow":true}</script><a class="InlineList-item-text" data-has-card-for-ri="21198" rel="nofollow" href="https://www.academia.edu/Documents/in/Fiscal_policy">Fiscal policy</a>, <script data-card-contents-for-ri="21198" type="text/json">{"id":21198,"name":"Fiscal policy","url":"https://www.academia.edu/Documents/in/Fiscal_policy?f_ri=21198","nofollow":true}</script><a class="InlineList-item-text" data-has-card-for-ri="21633" rel="nofollow" href="https://www.academia.edu/Documents/in/Liberia">Liberia</a><script data-card-contents-for-ri="21633" type="text/json">{"id":21633,"name":"Liberia","url":"https://www.academia.edu/Documents/in/Liberia?f_ri=21198","nofollow":true}</script></span></li><script>(function(){ if (true) { new Aedu.ResearchInterestListCard({ el: $('*[data-has-card-for-ri-list=30560744]'), work: {"id":30560744,"title":"ARGUMENT IN SUPPORT OF DUAL CURRENCY FOR THE LIBERIAN ECONOMY ARGUMENT IN SUPPORT OF DUAL CURRENCY FOR THE LIBERIAN ECONOMY","created_at":"2016-12-21T09:06:52.665-08:00","url":"https://www.academia.edu/30560744/ARGUMENT_IN_SUPPORT_OF_DUAL_CURRENCY_FOR_THE_LIBERIAN_ECONOMY_ARGUMENT_IN_SUPPORT_OF_DUAL_CURRENCY_FOR_THE_LIBERIAN_ECONOMY?f_ri=21198","dom_id":"work_30560744","summary":"My view on why it is necessary that Liberia adopt a Dual-currency System.","downloadable_attachments":[{"id":51002607,"asset_id":30560744,"asset_type":"Work","always_allow_download":false}],"ordered_authors":[{"id":5181453,"first_name":"Precious Kerme","last_name":"Gayan","domain_name":"univerityofliberia","page_name":"PreciousKermeGayan","display_name":"Precious Kerme Gayan","profile_url":"https://univerityofliberia.academia.edu/PreciousKermeGayan?f_ri=21198","photo":"https://0.academia-photos.com/5181453/2282079/9139650/s65_precious_kerme.gayan.jpg"}],"research_interests":[{"id":2789,"name":"Government","url":"https://www.academia.edu/Documents/in/Government?f_ri=21198","nofollow":true},{"id":4527,"name":"Africa","url":"https://www.academia.edu/Documents/in/Africa?f_ri=21198","nofollow":true},{"id":21198,"name":"Fiscal policy","url":"https://www.academia.edu/Documents/in/Fiscal_policy?f_ri=21198","nofollow":true},{"id":21633,"name":"Liberia","url":"https://www.academia.edu/Documents/in/Liberia?f_ri=21198","nofollow":true},{"id":28439,"name":"Fiscal Policy and debt Management","url":"https://www.academia.edu/Documents/in/Fiscal_Policy_and_debt_Management?f_ri=21198"},{"id":28583,"name":"Money","url":"https://www.academia.edu/Documents/in/Money?f_ri=21198"},{"id":270280,"name":"Monetary economics, money and banking, alternative and complementary currencies.","url":"https://www.academia.edu/Documents/in/Monetary_economics_money_and_banking_alternative_and_complementary_currencies?f_ri=21198"},{"id":271890,"name":"Currency","url":"https://www.academia.edu/Documents/in/Currency?f_ri=21198"},{"id":1930125,"name":"Liberian Studies","url":"https://www.academia.edu/Documents/in/Liberian_Studies?f_ri=21198"}]}, }) } })();</script></ul></li></ul></div></div><div class="u-borderBottom1 u-borderColorGrayLighter"><div class="clearfix u-pv7x u-mb0x js-work-card work_8396746" data-work_id="8396746" itemscope="itemscope" itemtype="https://schema.org/ScholarlyArticle"><div class="header"><div class="title u-fontSerif u-fs22 u-lineHeight1_3"><a class="u-tcGrayDarkest js-work-link" href="https://www.academia.edu/8396746/Everything_Must_Change_so_that_the_IMF_Can_Remain_the_Same">Everything Must Change so that the IMF Can Remain the Same</a></div></div><div class="u-pb4x u-mt3x"><div class="summary u-fs14 u-fw300 u-lineHeight1_5 u-tcGrayDarkest">The IMF remains fundamentally an instrument of advanced and creditor countries, to force contractionary adjustments on poor, indebted countries.</div></div><ul class="InlineList u-ph0x u-fs13"><li class="InlineList-item logged_in_only"><div class="share_on_academia_work_button"><a class="academia_share Button Button--inverseBlue Button--sm js-bookmark-button" data-academia-share="Work/8396746" data-share-source="work_strip" data-spinner="small_white_hide_contents"><i class="fa fa-plus"></i><span class="work-strip-link-text u-ml1x" data-content="button_text">Bookmark</span></a></div></li><li class="InlineList-item"><div class="download"><a id="03e7f84bef6d75751d3acbe5b408929d" rel="nofollow" data-download="{"attachment_id":34793497,"asset_id":8396746,"asset_type":"Work","always_allow_download":false,"track":null,"button_location":"work_strip","source":null,"hide_modal":null}" class="Button Button--sm Button--inverseGreen js-download-button prompt_button doc_download" href="https://www.academia.edu/attachments/34793497/download_file?st=MTc0MDE1MDU5Miw4LjIyMi4yMDguMTQ2&s=work_strip"><i class="fa fa-arrow-circle-o-down fa-lg"></i><span class="u-textUppercase u-ml1x" data-content="button_text">Download</span></a></div></li><li class="InlineList-item"><ul class="InlineList InlineList--bordered u-ph0x"><li class="InlineList-item InlineList-item--bordered"><span class="InlineList-item-text">by <span itemscope="itemscope" itemprop="author" itemtype="https://schema.org/Person"><a class="u-tcGrayDark u-fw700" data-has-card-for-user="85089" href="https://bucknell.academia.edu/MVernengo">Matias Vernengo</a><script data-card-contents-for-user="85089" type="text/json">{"id":85089,"first_name":"Matias","last_name":"Vernengo","domain_name":"bucknell","page_name":"MVernengo","display_name":"Matias 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style="max-width: 250px"><div class="u-positionAbsolute" data-has-card-for-ri-list="8396746"><i class="fa fa-tag InlineList-item-icon u-positionRelative"></i>  <a class="InlineList-item-text u-positionRelative">6</a>  </div><span class="InlineList-item-text u-textTruncate u-pl9x"><a class="InlineList-item-text" data-has-card-for-ri="727" rel="nofollow" href="https://www.academia.edu/Documents/in/Development_Economics">Development Economics</a>, <script data-card-contents-for-ri="727" type="text/json">{"id":727,"name":"Development Economics","url":"https://www.academia.edu/Documents/in/Development_Economics?f_ri=21198","nofollow":true}</script><a class="InlineList-item-text" data-has-card-for-ri="764" rel="nofollow" href="https://www.academia.edu/Documents/in/Macroeconomics">Macroeconomics</a>, <script data-card-contents-for-ri="764" type="text/json">{"id":764,"name":"Macroeconomics","url":"https://www.academia.edu/Documents/in/Macroeconomics?f_ri=21198","nofollow":true}</script><a class="InlineList-item-text" data-has-card-for-ri="21198" rel="nofollow" href="https://www.academia.edu/Documents/in/Fiscal_policy">Fiscal policy</a>, <script data-card-contents-for-ri="21198" type="text/json">{"id":21198,"name":"Fiscal policy","url":"https://www.academia.edu/Documents/in/Fiscal_policy?f_ri=21198","nofollow":true}</script><a class="InlineList-item-text" data-has-card-for-ri="134602" rel="nofollow" href="https://www.academia.edu/Documents/in/Capital_Controls">Capital Controls</a><script data-card-contents-for-ri="134602" type="text/json">{"id":134602,"name":"Capital Controls","url":"https://www.academia.edu/Documents/in/Capital_Controls?f_ri=21198","nofollow":true}</script></span></li><script>(function(){ if (true) { new Aedu.ResearchInterestListCard({ el: $('*[data-has-card-for-ri-list=8396746]'), work: {"id":8396746,"title":"Everything Must Change so that the IMF Can Remain the Same","created_at":"2014-09-19T02:06:49.129-07:00","url":"https://www.academia.edu/8396746/Everything_Must_Change_so_that_the_IMF_Can_Remain_the_Same?f_ri=21198","dom_id":"work_8396746","summary":"The IMF remains fundamentally an instrument of advanced and creditor countries, to force contractionary adjustments on poor, indebted countries.","downloadable_attachments":[{"id":34793497,"asset_id":8396746,"asset_type":"Work","always_allow_download":false}],"ordered_authors":[{"id":85089,"first_name":"Matias","last_name":"Vernengo","domain_name":"bucknell","page_name":"MVernengo","display_name":"Matias Vernengo","profile_url":"https://bucknell.academia.edu/MVernengo?f_ri=21198","photo":"https://0.academia-photos.com/85089/286303/16611289/s65_matias.vernengo.jpg"}],"research_interests":[{"id":727,"name":"Development Economics","url":"https://www.academia.edu/Documents/in/Development_Economics?f_ri=21198","nofollow":true},{"id":764,"name":"Macroeconomics","url":"https://www.academia.edu/Documents/in/Macroeconomics?f_ri=21198","nofollow":true},{"id":21198,"name":"Fiscal policy","url":"https://www.academia.edu/Documents/in/Fiscal_policy?f_ri=21198","nofollow":true},{"id":134602,"name":"Capital Controls","url":"https://www.academia.edu/Documents/in/Capital_Controls?f_ri=21198","nofollow":true},{"id":185583,"name":"Austerity Measures","url":"https://www.academia.edu/Documents/in/Austerity_Measures?f_ri=21198"},{"id":977854,"name":"IMF Reform","url":"https://www.academia.edu/Documents/in/IMF_Reform?f_ri=21198"}]}, }) } })();</script></ul></li></ul></div></div><div class="u-borderBottom1 u-borderColorGrayLighter"><div class="clearfix u-pv7x u-mb0x js-work-card work_4278236" data-work_id="4278236" itemscope="itemscope" itemtype="https://schema.org/ScholarlyArticle"><div class="header"><div class="title u-fontSerif u-fs22 u-lineHeight1_3"><a class="u-tcGrayDarkest js-work-link" href="https://www.academia.edu/4278236/Fiscal_Policy_and_Unemployment_in_South_Africa_1980_2010">Fiscal Policy and Unemployment in South Africa: 1980 – 2010</a></div></div><div class="u-pb4x u-mt3x"><div class="summary u-fs14 u-fw300 u-lineHeight1_5 u-tcGrayDarkest"><div class="summarized">Unemployment is one of the most topical challenges facing South Africa. Like most developing countries, South Africa has been using the fiscal policy framework as a tool to alleviate the high rates of unemployment. Despite the... <a class="more_link u-tcGrayDark u-linkUnstyled" data-container=".work_4278236" data-show=".complete" data-hide=".summarized" data-more-link-behavior="true" href="#">more</a></div><div class="complete hidden">Unemployment is one of the most topical challenges facing South Africa. Like most developing countries, South Africa has <br />been using the fiscal policy framework as a tool to alleviate the high rates of unemployment. Despite the government’s <br />tremendous effort to influence economic behaviour using an expansionary fiscal policy framework, unemployment has <br />remained a challenging phenomenon in South Africa This study examined the impact of fiscal policy on unemployment in <br />South Africa using annual time series data for the period 1980 to 2010. A vector error correction model was used to determine <br />the effects of fiscal policy aggregates on unemployment in South Africa. Results from this study revealed that government <br />consumption expenditure and tax have a positive impact on unemployment while government investment expenditure <br />negatively affects unemployment in South Africa. The study recommends the South African government to reduce the <br />corporate tax rate from 28 per cent to figures below 20 per cent as adopted by other OECD countries Policy recommendations <br />were made based on these results.</div></div></div><ul class="InlineList u-ph0x u-fs13"><li class="InlineList-item logged_in_only"><div class="share_on_academia_work_button"><a class="academia_share Button Button--inverseBlue Button--sm js-bookmark-button" data-academia-share="Work/4278236" data-share-source="work_strip" data-spinner="small_white_hide_contents"><i class="fa fa-plus"></i><span class="work-strip-link-text u-ml1x" data-content="button_text">Bookmark</span></a></div></li><li class="InlineList-item"><div class="download"><a id="1c4e38988f764e6ce45ecf5df52300c1" rel="nofollow" data-download="{"attachment_id":31748790,"asset_id":4278236,"asset_type":"Work","always_allow_download":false,"track":null,"button_location":"work_strip","source":null,"hide_modal":null}" class="Button Button--sm Button--inverseGreen js-download-button prompt_button doc_download" href="https://www.academia.edu/attachments/31748790/download_file?st=MTc0MDE1MDU5Miw4LjIyMi4yMDguMTQ2&s=work_strip"><i class="fa fa-arrow-circle-o-down fa-lg"></i><span class="u-textUppercase u-ml1x" data-content="button_text">Download</span></a></div></li><li class="InlineList-item"><ul class="InlineList InlineList--bordered u-ph0x"><li class="InlineList-item InlineList-item--bordered"><span class="InlineList-item-text">by <span itemscope="itemscope" itemprop="author" itemtype="https://schema.org/Person"><a class="u-tcGrayDark u-fw700" data-has-card-for-user="550831" href="https://nwu.academia.edu/NehemiahMavetera">Nehemiah Mavetera</a><script data-card-contents-for-user="550831" type="text/json">{"id":550831,"first_name":"Nehemiah","last_name":"Mavetera","domain_name":"nwu","page_name":"NehemiahMavetera","display_name":"Nehemiah Mavetera","profile_url":"https://nwu.academia.edu/NehemiahMavetera?f_ri=21198","photo":"https://0.academia-photos.com/550831/198501/231438/s65_nehemiah.mavetera.jpg"}</script></span></span></li><li class="js-paper-rank-work_4278236 InlineList-item InlineList-item--bordered hidden"><span class="js-paper-rank-view hidden u-tcGrayDark" data-paper-rank-work-id="4278236"><i class="u-m1x fa fa-bar-chart"></i><strong class="js-paper-rank"></strong></span><script>$(function() { new Works.PaperRankView({ workId: 4278236, container: ".js-paper-rank-work_4278236", }); 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$(".js-view-count[data-work-id=4278236]").text(description); $(".js-view-count-work_4278236").attr('title', description).tooltip(); }); });</script></span><script>$(function() { $(".js-view-count-work_4278236").removeClass('hidden') })</script></div></li><li class="InlineList-item u-positionRelative" style="max-width: 250px"><div class="u-positionAbsolute" data-has-card-for-ri-list="4278236"><i class="fa fa-tag InlineList-item-icon u-positionRelative"></i>  <a class="InlineList-item-text u-positionRelative">5</a>  </div><span class="InlineList-item-text u-textTruncate u-pl9x"><a class="InlineList-item-text" data-has-card-for-ri="7176" rel="nofollow" href="https://www.academia.edu/Documents/in/Unemployment">Unemployment</a>, <script data-card-contents-for-ri="7176" type="text/json">{"id":7176,"name":"Unemployment","url":"https://www.academia.edu/Documents/in/Unemployment?f_ri=21198","nofollow":true}</script><a class="InlineList-item-text" data-has-card-for-ri="21198" rel="nofollow" href="https://www.academia.edu/Documents/in/Fiscal_policy">Fiscal policy</a>, <script data-card-contents-for-ri="21198" type="text/json">{"id":21198,"name":"Fiscal policy","url":"https://www.academia.edu/Documents/in/Fiscal_policy?f_ri=21198","nofollow":true}</script><a class="InlineList-item-text" data-has-card-for-ri="22967" rel="nofollow" href="https://www.academia.edu/Documents/in/Trade_and_Industrial_Policy">Trade and Industrial Policy</a>, <script data-card-contents-for-ri="22967" type="text/json">{"id":22967,"name":"Trade and Industrial Policy","url":"https://www.academia.edu/Documents/in/Trade_and_Industrial_Policy?f_ri=21198","nofollow":true}</script><a class="InlineList-item-text" data-has-card-for-ri="61866" rel="nofollow" href="https://www.academia.edu/Documents/in/South_Africa">South Africa</a><script data-card-contents-for-ri="61866" type="text/json">{"id":61866,"name":"South Africa","url":"https://www.academia.edu/Documents/in/South_Africa?f_ri=21198","nofollow":true}</script></span></li><script>(function(){ if (true) { new Aedu.ResearchInterestListCard({ el: $('*[data-has-card-for-ri-list=4278236]'), work: {"id":4278236,"title":"Fiscal Policy and Unemployment in South Africa: 1980 – 2010","created_at":"2013-08-19T23:49:16.024-07:00","url":"https://www.academia.edu/4278236/Fiscal_Policy_and_Unemployment_in_South_Africa_1980_2010?f_ri=21198","dom_id":"work_4278236","summary":"Unemployment is one of the most topical challenges facing South Africa. Like most developing countries, South Africa has\r\nbeen using the fiscal policy framework as a tool to alleviate the high rates of unemployment. Despite the government’s\r\ntremendous effort to influence economic behaviour using an expansionary fiscal policy framework, unemployment has\r\nremained a challenging phenomenon in South Africa This study examined the impact of fiscal policy on unemployment in\r\nSouth Africa using annual time series data for the period 1980 to 2010. A vector error correction model was used to determine\r\nthe effects of fiscal policy aggregates on unemployment in South Africa. Results from this study revealed that government\r\nconsumption expenditure and tax have a positive impact on unemployment while government investment expenditure\r\nnegatively affects unemployment in South Africa. The study recommends the South African government to reduce the\r\ncorporate tax rate from 28 per cent to figures below 20 per cent as adopted by other OECD countries Policy recommendations\r\nwere made based on these results.","downloadable_attachments":[{"id":31748790,"asset_id":4278236,"asset_type":"Work","always_allow_download":false}],"ordered_authors":[{"id":550831,"first_name":"Nehemiah","last_name":"Mavetera","domain_name":"nwu","page_name":"NehemiahMavetera","display_name":"Nehemiah Mavetera","profile_url":"https://nwu.academia.edu/NehemiahMavetera?f_ri=21198","photo":"https://0.academia-photos.com/550831/198501/231438/s65_nehemiah.mavetera.jpg"}],"research_interests":[{"id":7176,"name":"Unemployment","url":"https://www.academia.edu/Documents/in/Unemployment?f_ri=21198","nofollow":true},{"id":21198,"name":"Fiscal policy","url":"https://www.academia.edu/Documents/in/Fiscal_policy?f_ri=21198","nofollow":true},{"id":22967,"name":"Trade and Industrial Policy","url":"https://www.academia.edu/Documents/in/Trade_and_Industrial_Policy?f_ri=21198","nofollow":true},{"id":61866,"name":"South Africa","url":"https://www.academia.edu/Documents/in/South_Africa?f_ri=21198","nofollow":true},{"id":330376,"name":"Vector Error Correction","url":"https://www.academia.edu/Documents/in/Vector_Error_Correction?f_ri=21198"}]}, }) } })();</script></ul></li></ul></div></div><div class="u-borderBottom1 u-borderColorGrayLighter"><div class="clearfix u-pv7x u-mb0x js-work-card work_45292025" data-work_id="45292025" itemscope="itemscope" itemtype="https://schema.org/ScholarlyArticle"><div class="header"><div class="title u-fontSerif u-fs22 u-lineHeight1_3"><a class="u-tcGrayDarkest js-work-link" href="https://www.academia.edu/45292025/COVID_19_and_Macroeconomic_Paradoxes">COVID-19 and Macroeconomic Paradoxes</a></div></div><div class="u-pb4x u-mt3x"><div class="summary u-fs14 u-fw300 u-lineHeight1_5 u-tcGrayDarkest"><div class="summarized">This essay aims to examine three macroeconomic paradoxes and their application to COVID19-related economic developments. First, it is important to outline the economic implications of the pandemic particularly focusing on the short and... <a class="more_link u-tcGrayDark u-linkUnstyled" data-container=".work_45292025" data-show=".complete" data-hide=".summarized" data-more-link-behavior="true" href="#">more</a></div><div class="complete hidden">This essay aims to examine three macroeconomic paradoxes and their application to COVID19-related economic developments. First, it is important to outline the economic implications of the pandemic particularly focusing on the short and medium term in order to grasp the most relevant macroeconomic paradoxes. Subsequently, the essay is subdivided into an analysis of the following macroeconomic paradoxes: Paradox of Thrift, Paradox of Cost, and the Paradox of Banking Refusal. The essay will also discuss policies that may be appropriate in addressing these paradoxes.</div></div></div><ul class="InlineList u-ph0x u-fs13"><li class="InlineList-item logged_in_only"><div class="share_on_academia_work_button"><a class="academia_share Button Button--inverseBlue Button--sm js-bookmark-button" data-academia-share="Work/45292025" data-share-source="work_strip" data-spinner="small_white_hide_contents"><i class="fa fa-plus"></i><span class="work-strip-link-text u-ml1x" data-content="button_text">Bookmark</span></a></div></li><li class="InlineList-item"><div class="download"><a id="57359f059c0fda5ba4ab64d79c135834" rel="nofollow" data-download="{"attachment_id":65846068,"asset_id":45292025,"asset_type":"Work","always_allow_download":false,"track":null,"button_location":"work_strip","source":null,"hide_modal":null}" class="Button Button--sm Button--inverseGreen js-download-button prompt_button doc_download" href="https://www.academia.edu/attachments/65846068/download_file?st=MTc0MDE1MDU5Miw4LjIyMi4yMDguMTQ2&s=work_strip"><i class="fa fa-arrow-circle-o-down fa-lg"></i><span class="u-textUppercase u-ml1x" data-content="button_text">Download</span></a></div></li><li class="InlineList-item"><ul class="InlineList InlineList--bordered u-ph0x"><li class="InlineList-item InlineList-item--bordered"><span class="InlineList-item-text">by <span itemscope="itemscope" itemprop="author" itemtype="https://schema.org/Person"><a class="u-tcGrayDark u-fw700" data-has-card-for-user="178278603" href="https://soas.academia.edu/HadiAlWakil">Hadi Al-Wakil</a><script data-card-contents-for-user="178278603" type="text/json">{"id":178278603,"first_name":"Hadi","last_name":"Al-Wakil","domain_name":"soas","page_name":"HadiAlWakil","display_name":"Hadi Al-Wakil","profile_url":"https://soas.academia.edu/HadiAlWakil?f_ri=21198","photo":"https://0.academia-photos.com/178278603/85106668/73749737/s65_hadi.al-wakil.png"}</script></span></span></li><li class="js-paper-rank-work_45292025 InlineList-item InlineList-item--bordered hidden"><span class="js-paper-rank-view hidden u-tcGrayDark" data-paper-rank-work-id="45292025"><i class="u-m1x fa fa-bar-chart"></i><strong class="js-paper-rank"></strong></span><script>$(function() { new Works.PaperRankView({ workId: 45292025, container: ".js-paper-rank-work_45292025", }); });</script></li><li class="js-percentile-work_45292025 InlineList-item InlineList-item--bordered hidden u-tcGrayDark"><span class="percentile-widget hidden"><span class="u-mr2x percentile-widget" style="display: none">•</span><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 45292025; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-percentile-work_45292025"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></li><li class="js-view-count-work_45292025 InlineList-item InlineList-item--bordered hidden"><div><span><span class="js-view-count view-count u-mr2x" data-work-id="45292025"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 45292025; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=45292025]").text(description); $(".js-view-count-work_45292025").attr('title', description).tooltip(); }); });</script></span><script>$(function() { $(".js-view-count-work_45292025").removeClass('hidden') })</script></div></li><li class="InlineList-item u-positionRelative" style="max-width: 250px"><div class="u-positionAbsolute" data-has-card-for-ri-list="45292025"><i class="fa fa-tag InlineList-item-icon u-positionRelative"></i></div><span class="InlineList-item-text u-textTruncate u-pl6x"><a class="InlineList-item-text" data-has-card-for-ri="21198" rel="nofollow" href="https://www.academia.edu/Documents/in/Fiscal_policy">Fiscal policy</a><script data-card-contents-for-ri="21198" type="text/json">{"id":21198,"name":"Fiscal policy","url":"https://www.academia.edu/Documents/in/Fiscal_policy?f_ri=21198","nofollow":true}</script></span></li><script>(function(){ if (false) { new Aedu.ResearchInterestListCard({ el: $('*[data-has-card-for-ri-list=45292025]'), work: {"id":45292025,"title":"COVID-19 and Macroeconomic Paradoxes","created_at":"2021-03-01T16:11:51.766-08:00","url":"https://www.academia.edu/45292025/COVID_19_and_Macroeconomic_Paradoxes?f_ri=21198","dom_id":"work_45292025","summary":"This essay aims to examine three macroeconomic paradoxes and their application to COVID19-related economic developments. First, it is important to outline the economic implications of the pandemic particularly focusing on the short and medium term in order to grasp the most relevant macroeconomic paradoxes. Subsequently, the essay is subdivided into an analysis of the following macroeconomic paradoxes: Paradox of Thrift, Paradox of Cost, and the Paradox of Banking Refusal. The essay will also discuss policies that may be appropriate in addressing these paradoxes.","downloadable_attachments":[{"id":65846068,"asset_id":45292025,"asset_type":"Work","always_allow_download":false}],"ordered_authors":[{"id":178278603,"first_name":"Hadi","last_name":"Al-Wakil","domain_name":"soas","page_name":"HadiAlWakil","display_name":"Hadi Al-Wakil","profile_url":"https://soas.academia.edu/HadiAlWakil?f_ri=21198","photo":"https://0.academia-photos.com/178278603/85106668/73749737/s65_hadi.al-wakil.png"}],"research_interests":[{"id":21198,"name":"Fiscal policy","url":"https://www.academia.edu/Documents/in/Fiscal_policy?f_ri=21198","nofollow":true}]}, }) } })();</script></ul></li></ul></div></div><div class="u-borderBottom1 u-borderColorGrayLighter"><div class="clearfix u-pv7x u-mb0x js-work-card work_6428319" data-work_id="6428319" itemscope="itemscope" itemtype="https://schema.org/ScholarlyArticle"><div class="header"><div class="title u-fontSerif u-fs22 u-lineHeight1_3"><a class="u-tcGrayDarkest js-work-link" href="https://www.academia.edu/6428319/A_guide_to_public_sector_debt_and_deficits">A guide to public sector debt and deficits</a></div></div><div class="u-pb4x u-mt3x"><div class="summary u-fs14 u-fw300 u-lineHeight1_5 u-tcGrayDarkest"><div class="summarized">The paper presents a theoretical and empirical survey of three common concerns about public sector debt and deficits. The first is based on the view that sooner or later, public sector deficits must be monetised and will therefore lead... <a class="more_link u-tcGrayDark u-linkUnstyled" data-container=".work_6428319" data-show=".complete" data-hide=".summarized" data-more-link-behavior="true" href="#">more</a></div><div class="complete hidden">The paper presents a theoretical and empirical survey of three common concerns about public sector debt and deficits.  The first is based on the view that sooner or later, public sector deficits must be monetised and will therefore lead to inflation.  The second concerns the possibility of explosive debt-deficit spirals and ultimately default or repudiation of public debt.  The third relates to "financial crowding out", the decline in interest-sensitive or real exchange rate-sensitive private and foreign spending resulting from the substitution of borrowing for current taxes.  The final section updates the now 12-year old lament of Blinder and Solow about the misuse of various "model-free" measures of fiscal stance.</div></div></div><ul class="InlineList u-ph0x u-fs13"><li class="InlineList-item logged_in_only"><div class="share_on_academia_work_button"><a class="academia_share Button Button--inverseBlue Button--sm js-bookmark-button" data-academia-share="Work/6428319" data-share-source="work_strip" data-spinner="small_white_hide_contents"><i class="fa fa-plus"></i><span class="work-strip-link-text u-ml1x" data-content="button_text">Bookmark</span></a></div></li><li class="InlineList-item"><div class="download"><a id="4827b82637ca426a27ec94902e37f625" rel="nofollow" data-download="{"attachment_id":34509812,"asset_id":6428319,"asset_type":"Work","always_allow_download":false,"track":null,"button_location":"work_strip","source":null,"hide_modal":null}" class="Button Button--sm Button--inverseGreen js-download-button prompt_button doc_download" href="https://www.academia.edu/attachments/34509812/download_file?st=MTc0MDE1MDU5Miw4LjIyMi4yMDguMTQ2&s=work_strip"><i class="fa fa-arrow-circle-o-down fa-lg"></i><span class="u-textUppercase u-ml1x" data-content="button_text">Download</span></a></div></li><li class="InlineList-item"><ul class="InlineList InlineList--bordered u-ph0x"><li class="InlineList-item InlineList-item--bordered"><span class="InlineList-item-text">by <span itemscope="itemscope" itemprop="author" itemtype="https://schema.org/Person"><a class="u-tcGrayDark u-fw700" data-has-card-for-user="9173516" href="https://columbia.academia.edu/WillemBuiter">Willem H Buiter</a><script data-card-contents-for-user="9173516" type="text/json">{"id":9173516,"first_name":"Willem","last_name":"Buiter","domain_name":"columbia","page_name":"WillemBuiter","display_name":"Willem H Buiter","profile_url":"https://columbia.academia.edu/WillemBuiter?f_ri=21198","photo":"https://0.academia-photos.com/9173516/2995891/131875753/s65_willem.buiter.jpg"}</script></span></span></li><li class="js-paper-rank-work_6428319 InlineList-item InlineList-item--bordered hidden"><span class="js-paper-rank-view hidden u-tcGrayDark" data-paper-rank-work-id="6428319"><i class="u-m1x fa fa-bar-chart"></i><strong class="js-paper-rank"></strong></span><script>$(function() { new Works.PaperRankView({ workId: 6428319, container: ".js-paper-rank-work_6428319", }); });</script></li><li class="js-percentile-work_6428319 InlineList-item InlineList-item--bordered hidden u-tcGrayDark"><span class="percentile-widget hidden"><span class="u-mr2x percentile-widget" style="display: none">•</span><span class="u-mr2x work-percentile"></span></span><script>$(function () { var workId = 6428319; window.Academia.workPercentilesFetcher.queue(workId, function (percentileText) { var container = $(".js-percentile-work_6428319"); container.find('.work-percentile').text(percentileText.charAt(0).toUpperCase() + percentileText.slice(1)); container.find('.percentile-widget').show(); container.find('.percentile-widget').removeClass('hidden'); }); });</script></li><li class="js-view-count-work_6428319 InlineList-item InlineList-item--bordered hidden"><div><span><span class="js-view-count view-count u-mr2x" data-work-id="6428319"><i class="fa fa-spinner fa-spin"></i></span><script>$(function () { var workId = 6428319; window.Academia.workViewCountsFetcher.queue(workId, function (count) { var description = window.$h.commaizeInt(count) + " " + window.$h.pluralize(count, 'View'); $(".js-view-count[data-work-id=6428319]").text(description); $(".js-view-count-work_6428319").attr('title', description).tooltip(); }); });</script></span><script>$(function() { $(".js-view-count-work_6428319").removeClass('hidden') })</script></div></li><li class="InlineList-item u-positionRelative" style="max-width: 250px"><div class="u-positionAbsolute" data-has-card-for-ri-list="6428319"><i class="fa fa-tag InlineList-item-icon u-positionRelative"></i>  <a class="InlineList-item-text u-positionRelative">4</a>  </div><span class="InlineList-item-text u-textTruncate u-pl9x"><a class="InlineList-item-text" data-has-card-for-ri="724" rel="nofollow" href="https://www.academia.edu/Documents/in/Economics">Economics</a>, <script data-card-contents-for-ri="724" type="text/json">{"id":724,"name":"Economics","url":"https://www.academia.edu/Documents/in/Economics?f_ri=21198","nofollow":true}</script><a class="InlineList-item-text" data-has-card-for-ri="764" rel="nofollow" href="https://www.academia.edu/Documents/in/Macroeconomics">Macroeconomics</a>, <script data-card-contents-for-ri="764" type="text/json">{"id":764,"name":"Macroeconomics","url":"https://www.academia.edu/Documents/in/Macroeconomics?f_ri=21198","nofollow":true}</script><a class="InlineList-item-text" data-has-card-for-ri="21198" rel="nofollow" href="https://www.academia.edu/Documents/in/Fiscal_policy">Fiscal policy</a>, <script data-card-contents-for-ri="21198" type="text/json">{"id":21198,"name":"Fiscal policy","url":"https://www.academia.edu/Documents/in/Fiscal_policy?f_ri=21198","nofollow":true}</script><a class="InlineList-item-text" data-has-card-for-ri="28439" rel="nofollow" href="https://www.academia.edu/Documents/in/Fiscal_Policy_and_debt_Management">Fiscal Policy and debt Management</a><script data-card-contents-for-ri="28439" type="text/json">{"id":28439,"name":"Fiscal Policy and debt Management","url":"https://www.academia.edu/Documents/in/Fiscal_Policy_and_debt_Management?f_ri=21198","nofollow":true}</script></span></li><script>(function(){ if (true) { new Aedu.ResearchInterestListCard({ el: $('*[data-has-card-for-ri-list=6428319]'), work: {"id":6428319,"title":"A guide to public sector debt and deficits","created_at":"2014-03-16T00:31:03.669-07:00","url":"https://www.academia.edu/6428319/A_guide_to_public_sector_debt_and_deficits?f_ri=21198","dom_id":"work_6428319","summary":"The paper presents a theoretical and empirical survey of three common concerns about public sector debt and deficits. The first is based on the view that sooner or later, public sector deficits must be monetised and will therefore lead to inflation. The second concerns the possibility of explosive debt-deficit spirals and ultimately default or repudiation of public debt. The third relates to \"financial crowding out\", the decline in interest-sensitive or real exchange rate-sensitive private and foreign spending resulting from the substitution of borrowing for current taxes. The final section updates the now 12-year old lament of Blinder and Solow about the misuse of various \"model-free\" measures of fiscal stance.","downloadable_attachments":[{"id":34509812,"asset_id":6428319,"asset_type":"Work","always_allow_download":false}],"ordered_authors":[{"id":9173516,"first_name":"Willem","last_name":"Buiter","domain_name":"columbia","page_name":"WillemBuiter","display_name":"Willem H Buiter","profile_url":"https://columbia.academia.edu/WillemBuiter?f_ri=21198","photo":"https://0.academia-photos.com/9173516/2995891/131875753/s65_willem.buiter.jpg"}],"research_interests":[{"id":724,"name":"Economics","url":"https://www.academia.edu/Documents/in/Economics?f_ri=21198","nofollow":true},{"id":764,"name":"Macroeconomics","url":"https://www.academia.edu/Documents/in/Macroeconomics?f_ri=21198","nofollow":true},{"id":21198,"name":"Fiscal policy","url":"https://www.academia.edu/Documents/in/Fiscal_policy?f_ri=21198","nofollow":true},{"id":28439,"name":"Fiscal Policy and debt Management","url":"https://www.academia.edu/Documents/in/Fiscal_Policy_and_debt_Management?f_ri=21198","nofollow":true}]}, }) } })();</script></ul></li></ul></div></div><div class="u-borderBottom1 u-borderColorGrayLighter"><div class="clearfix u-pv7x u-mb0x js-work-card work_82336465" data-work_id="82336465" itemscope="itemscope" itemtype="https://schema.org/ScholarlyArticle"><div class="header"><div class="title u-fontSerif u-fs22 u-lineHeight1_3"><a class="u-tcGrayDarkest js-work-link" href="https://www.academia.edu/82336465/Inflazione_%C3%A8_colpa_delle_banche_centrali_E_dei_governi_spendaccioni_1_2_">Inflazione, è colpa delle banche centrali. E dei governi spendaccioni (1/2)</a></div></div><div class="u-pb4x u-mt3x"><div class="summary u-fs14 u-fw300 u-lineHeight1_5 u-tcGrayDarkest"><div class="summarized">L'inflazione non è "aumento dei prezzi", ma aumento della liquidità circolante. L'aumento dei prezzi è solo una conseguenza. L'aumento vertiginoso dei prezzi al consumo è causato dalla politica monetaria delle banche centrali che hanno... <a class="more_link u-tcGrayDark u-linkUnstyled" data-container=".work_82336465" data-show=".complete" data-hide=".summarized" data-more-link-behavior="true" href="#">more</a></div><div class="complete hidden">L'inflazione non è "aumento dei prezzi", ma aumento della liquidità circolante. L'aumento dei prezzi è solo una conseguenza. L'aumento vertiginoso dei prezzi al consumo è causato dalla politica monetaria delle banche centrali che hanno pompato denaro irresponsabilmente, dalla crisi del 2007 ad oggi, soprattutto in occasione della pandemia di Covid. I governi, dal canto loro, a causa dei danni che hanno causato con i lockdown, aumentano la spesa pubblica per ristori e bonus, aggravando ancora il problema. Si uscirà mai da questa spirale?</div></div></div><ul class="InlineList u-ph0x u-fs13"><li class="InlineList-item logged_in_only"><div class="share_on_academia_work_button"><a class="academia_share Button Button--inverseBlue Button--sm js-bookmark-button" data-academia-share="Work/82336465" data-share-source="work_strip" data-spinner="small_white_hide_contents"><i class="fa fa-plus"></i><span class="work-strip-link-text u-ml1x" data-content="button_text">Bookmark</span></a></div></li><li class="InlineList-item"><div class="download"><a id="9d78566c44c1214ba4a9eba6549253d2" rel="nofollow" data-download="{"attachment_id":88079071,"asset_id":82336465,"asset_type":"Work","always_allow_download":false,"track":null,"button_location":"work_strip","source":null,"hide_modal":null}" class="Button Button--sm Button--inverseGreen js-download-button prompt_button doc_download" href="https://www.academia.edu/attachments/88079071/download_file?st=MTc0MDE1MDU5Miw4LjIyMi4yMDguMTQ2&s=work_strip"><i class="fa fa-arrow-circle-o-down fa-lg"></i><span class="u-textUppercase u-ml1x" data-content="button_text">Download</span></a></div></li><li class="InlineList-item"><ul class="InlineList InlineList--bordered u-ph0x"><li class="InlineList-item InlineList-item--bordered"><span class="InlineList-item-text">by <span itemscope="itemscope" itemprop="author" itemtype="https://schema.org/Person"><a class="u-tcGrayDark u-fw700" data-has-card-for-user="53901208" href="https://independent.academia.edu/MaurizioMilano1">Maurizio Milano</a><script data-card-contents-for-user="53901208" type="text/json">{"id":53901208,"first_name":"Maurizio","last_name":"Milano","domain_name":"independent","page_name":"MaurizioMilano1","display_name":"Maurizio Milano","profile_url":"https://independent.academia.edu/MaurizioMilano1?f_ri=21198","photo":"https://0.academia-photos.com/53901208/16182875/38264784/s65_maurizio.milano.jpg"}</script></span></span></li><li class="js-paper-rank-work_82336465 InlineList-item InlineList-item--bordered hidden"><span class="js-paper-rank-view hidden u-tcGrayDark" data-paper-rank-work-id="82336465"><i class="u-m1x fa fa-bar-chart"></i><strong class="js-paper-rank"></strong></span><script>$(function() { new Works.PaperRankView({ workId: 82336465, container: ".js-paper-rank-work_82336465", }); 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$(".js-view-count[data-work-id=82336465]").text(description); $(".js-view-count-work_82336465").attr('title', description).tooltip(); }); });</script></span><script>$(function() { $(".js-view-count-work_82336465").removeClass('hidden') })</script></div></li><li class="InlineList-item u-positionRelative" style="max-width: 250px"><div class="u-positionAbsolute" data-has-card-for-ri-list="82336465"><i class="fa fa-tag InlineList-item-icon u-positionRelative"></i>  <a class="InlineList-item-text u-positionRelative">4</a>  </div><span class="InlineList-item-text u-textTruncate u-pl9x"><a class="InlineList-item-text" data-has-card-for-ri="21198" rel="nofollow" href="https://www.academia.edu/Documents/in/Fiscal_policy">Fiscal policy</a>, <script data-card-contents-for-ri="21198" type="text/json">{"id":21198,"name":"Fiscal policy","url":"https://www.academia.edu/Documents/in/Fiscal_policy?f_ri=21198","nofollow":true}</script><a class="InlineList-item-text" data-has-card-for-ri="48971" rel="nofollow" href="https://www.academia.edu/Documents/in/Monetary_Policy">Monetary Policy</a>, <script data-card-contents-for-ri="48971" type="text/json">{"id":48971,"name":"Monetary Policy","url":"https://www.academia.edu/Documents/in/Monetary_Policy?f_ri=21198","nofollow":true}</script><a class="InlineList-item-text" data-has-card-for-ri="59483" rel="nofollow" href="https://www.academia.edu/Documents/in/Public_Spending_and_the_Deficit">Public Spending and the Deficit</a>, <script data-card-contents-for-ri="59483" type="text/json">{"id":59483,"name":"Public Spending and the Deficit","url":"https://www.academia.edu/Documents/in/Public_Spending_and_the_Deficit?f_ri=21198","nofollow":true}</script><a class="InlineList-item-text" data-has-card-for-ri="113317" rel="nofollow" href="https://www.academia.edu/Documents/in/Inflation">Inflation</a><script data-card-contents-for-ri="113317" type="text/json">{"id":113317,"name":"Inflation","url":"https://www.academia.edu/Documents/in/Inflation?f_ri=21198","nofollow":true}</script></span></li><script>(function(){ if (true) { new Aedu.ResearchInterestListCard({ el: $('*[data-has-card-for-ri-list=82336465]'), work: {"id":82336465,"title":"Inflazione, è colpa delle banche centrali. E dei governi spendaccioni (1/2)","created_at":"2022-06-29T00:35:37.142-07:00","url":"https://www.academia.edu/82336465/Inflazione_%C3%A8_colpa_delle_banche_centrali_E_dei_governi_spendaccioni_1_2_?f_ri=21198","dom_id":"work_82336465","summary":"L'inflazione non è \"aumento dei prezzi\", ma aumento della liquidità circolante. L'aumento dei prezzi è solo una conseguenza. L'aumento vertiginoso dei prezzi al consumo è causato dalla politica monetaria delle banche centrali che hanno pompato denaro irresponsabilmente, dalla crisi del 2007 ad oggi, soprattutto in occasione della pandemia di Covid. I governi, dal canto loro, a causa dei danni che hanno causato con i lockdown, aumentano la spesa pubblica per ristori e bonus, aggravando ancora il problema. Si uscirà mai da questa spirale?","downloadable_attachments":[{"id":88079071,"asset_id":82336465,"asset_type":"Work","always_allow_download":false}],"ordered_authors":[{"id":53901208,"first_name":"Maurizio","last_name":"Milano","domain_name":"independent","page_name":"MaurizioMilano1","display_name":"Maurizio Milano","profile_url":"https://independent.academia.edu/MaurizioMilano1?f_ri=21198","photo":"https://0.academia-photos.com/53901208/16182875/38264784/s65_maurizio.milano.jpg"}],"research_interests":[{"id":21198,"name":"Fiscal policy","url":"https://www.academia.edu/Documents/in/Fiscal_policy?f_ri=21198","nofollow":true},{"id":48971,"name":"Monetary Policy","url":"https://www.academia.edu/Documents/in/Monetary_Policy?f_ri=21198","nofollow":true},{"id":59483,"name":"Public Spending and the Deficit","url":"https://www.academia.edu/Documents/in/Public_Spending_and_the_Deficit?f_ri=21198","nofollow":true},{"id":113317,"name":"Inflation","url":"https://www.academia.edu/Documents/in/Inflation?f_ri=21198","nofollow":true}]}, }) } })();</script></ul></li></ul></div></div></div><div class="u-taCenter Pagination"><ul class="pagination"><li class="next_page"><a href="/Documents/in/Fiscal_policy?after=50%2C82336465" rel="next">Next</a></li><li class="last next"><a href="/Documents/in/Fiscal_policy?page=last">Last »</a></li></ul></div></div><div class="hidden-xs hidden-sm"><div class="u-pl6x"><div style="width: 300px;"><div class="panel panel-flat u-mt7x"><div class="panel-heading u-p5x"><div class="u-tcGrayDark u-taCenter u-fw700 u-textUppercase">Related Topics</div></div><ul class="list-group"><li class="list-group-item media_v2 u-mt0x u-p3x"><div class="media-body"><div class="u-tcGrayDarker u-fw700"><a class="u-tcGrayDarker" rel="nofollow" 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