Fiscal-policy theory in an interregional economy: General interregional multipliers and their application

1967 ◽  
Vol 19 (1) ◽  
pp. 82-108 ◽  
Author(s):  
Joseph Airov
Keyword(s):  
Fiscal Policy ◽  
Policy Theory

Does enfranchisement affect fiscal policy? Theory and empirical evidence on Brazil

2019 ◽  
Vol 20 (4) ◽  
pp. 389-412 ◽  
Author(s):  
Rodrigo Schneider ◽  
Diloá Athias ◽  
Mauricio Bugarin
Keyword(s):  
Fiscal Policy ◽  
Empirical Evidence ◽  
Policy Theory

Contractionary effects of expansionary fiscal policy: theory and tests

2002 ◽  
Vol 19 (1) ◽  
pp. 137-152 ◽  
Author(s):  
Pekka Ahtiala ◽  
Antti Kanto
Keyword(s):  
Fiscal Policy ◽  
Policy Theory

scholarly journals Foreign Aid Fiscal Policy: Theory and Evidence

2016 ◽  
Vol 58 (2) ◽  
pp. 279-314 ◽  
Author(s):  
Simplice Asongu ◽  
Mohamed Jellal
Keyword(s):  
Fiscal Policy ◽  
Foreign Aid ◽  
Policy Theory

Analysis of tax-spend nexus for Russian regional budgets

2020 ◽  
pp. 5-29
Author(s):  
Evsey T. Gurvich ◽  
Natalia A. Krasnopeeva
Keyword(s):  
Economic Growth ◽  
Fiscal Policy ◽  
Causal Relationship ◽  
National Economy ◽  
Federal Budget ◽  
Fiscal Rules ◽  
Fiscal Discipline ◽  
Federal Level ◽  
Regional Budgets ◽  
Econometric Technique

We study the tax-spend nexus for Russian regional budgets. Causal relationship running from taxing to spending is found, thus supporting the concept “tax and spend” suggested by M. Friedman. Next, elasticity of expenditure by revenue is estimated for a panel of 80 regional budgets basing on data for 2000—2017. Estimates are in the range of 0.72 to 0.78 (depending on the econometric technique), which exceeds elasticity for the federal budget more than twice. This evidences that fiscal policy at the sub-federal (as distinct from the federal) level has clear pro-cyclical nature. Besides, the largest sensitivity of expenditure to revenue shocks is found for the item “national economy”, implying marked adverse implications for economic growth. We suggest to mitigate this effect by modifying fiscal rules for sub-federal budgets. They are currently aimed primarily at enhancing fiscal discipline, with less emphasis on countercyclical policy, insulating economy from fiscal shocks.

On the formation of a New Paradigm of fiscal Policy

2013 ◽  
pp. 152-158 ◽  
Author(s):  
V. Senchagov
Keyword(s):  
Public Finance ◽  
Fiscal Policy ◽  
Financial Crisis ◽  
Global Financial Crisis ◽  
Domestic Demand ◽  
Real Economy ◽  
New Paradigm ◽  
Monetary Aggregate ◽  
The Past ◽  
The Global Financial Crisis

Due to Russia’s exit from the global financial crisis, the fiscal policy of withdrawing windfall spending has exhausted its potential. It is important to refocus public finance to the real economy and the expansion of domestic demand. For this goal there is sufficient, but not realized financial potential. The increase in fiscal spending in these areas is unlikely to lead to higher inflation, given its actual trend in the past decade relative to M2 monetary aggregate, but will directly affect the investment component of many underdeveloped sectors, as well as the volume of domestic production and consumer demand.

Global Financial Crisis and Its Impact on Russia

2009 ◽  
pp. 9-27 ◽  
Author(s):  
A. Kudrin
Keyword(s):  
Monetary Policy ◽  
Fiscal Policy ◽  
Financial Crisis ◽  
Central Bank ◽  
Global Financial Crisis ◽  
Developed Countries ◽  
Real Economy ◽  
Energy Prices ◽  
Russian Government ◽  
The Real

The article examines the causes of origin and manifestation of the current global financial crisis and the policies adopted in developed countries in 2007—2008 to deal with it. It considers the effects of the financial crisis on Russia’s economy and monetary policy of the Central Bank in the current conditions as well as the main guidelines for the fiscal policy under different energy prices. The measures for fighting the crisis that the Russian government and the Central Bank use to support the real economy are described.

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