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Fiscal Consolidation and the New Flat Rate Individual Income Tax in Hungary
Fiscal policy Flat rate tax Social policy Tax principles Tax system
2016/1/27
In the last two years the Hungarian people have witnessed several new measures in government’s fiscal policy. To respond to global crisis that hit Hungary hard, the Bajnai government enacted a series ...
Some state and local governments in the United States are increasingly outsourcing services through third-party surrogates. In some instances, outsourcing is used as a mechanism to raise revenue to co...
Fiscal Pressures, Institutional Context, and Constituents: A Dynamic Model of States’ Arts Agency Appropriations
arts crowding out Dynamic panel-data estimator flypaper effect public choice public finance
2014/11/26
This report focuses on state government appropriations to state arts agencies (SAA), a primary figure in arts and cultural policy in the United States. A dynamic panel-data estimator can identify the ...
Introduction and Summary Recommendations
The depression of the 1930s resulted in the creation of many federal
agencies that served reasonably well for several decades. Beginning
late in the 1970s a...
THE IMPACT OF FISCAL CONSTITUTIONS ON STATE AND LOCAL EXPENDITURES
FISCAL CONSTITUTIONS LOCAL EXPENDITURES STATE
2008/11/12
The United States has witnessed changing trends, over the past few
decades, in the fiscal behavior and responsibilities of federal, state,
and local governments. In particular, two of the more polit...
DON’T MIX MONETARY AND FISCAL POLICY：WHY RETURN TO AN OLD, FLAWED FRAMEWORK?
monetary policy FISCAL POLICY economic expansion
2008/11/11
In recent decades, significant strides have been made in the conduct
of monetary policy, as the Federal Reserve has successfully
pursued the objective of stable, low inflation as a foundation for
s...
monetary policy was not widely considered a particularly interesting
or important topic. The predominant view was that the main function
of monetary policy was to “stimulate” debt-financed purchases...
The United States and most of the euro-member countries are
effectively bankrupt. Resolving these bankruptcies is going to be extremely
painful and is likely to spell the end of the European Monetar...
FISCAL CONSERVATISM, EXCHANGE RATE FLEXIBILITY, AND THE NEXT GENERATION OF DEBT CRISES
FISCAL CONSERVATISM EXCHANGE RATE FLEXIBILITY DEBT CRISES
2008/11/6
Despite all the invective hurled at international financial markets
by critics of the “Washington Consensus,” the fact is that strong
healthy financial markets are essential for middle-income countr...
IS THE FED FACILITATING AN UNPLEASANT FISCAL ARITHMETIC?
FISCAL ARITHMETIC government liabilities budget balances
2008/11/4
Is the United States headed for an unprecedented economic
disaster? The fact that prominent economists are posing that question
says something about what they may be expecting. For example, in
the ...
The United States faces a fiscal policy disaster. As is now becoming
more widely appreciated, spending commitments under current laws
and policy will outstrip the ability of conventional tax-based f...
MONETARY POLICY AND THE GROWING FISCAL IMBALANCE
MONETARY POLICY FISCAL IMBALANCE Monetary Policy
2008/11/4
The federal government has made commitments to increase entitlement
spending rapidly in coming decades. In particular, Medicare
expenditures are scheduled to balloon. My expectation is that
these c...
THE ROLE OF FISCAL AND POLITICAL INSTITUTIONS IN LIMITING THE SIZE OF STATE GOVERNMENT
FISCAL POLITICAL INSTITUTIONS
2008/11/4
In many states, tax and expenditure limits constrain government
spending. All but one state have adopted balanced-budget rules.
Some governors have the power to veto individual budget items (the
so...