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Legislative Turnover Fiscal Policy And Economic Growth
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Book Synopsis Legislative Turnover, Fiscal Policy, and Economic Growth by : Yogesh Uppal
Download or read book Legislative Turnover, Fiscal Policy, and Economic Growth written by Yogesh Uppal and published by . This book was released on 2014 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Increased turnover among legislators can make them short-sighted, affecting fiscal policy and economic growth. We exploit the exogenous variation in legislative turnover induced by term limit laws and by redistricting in the 50 U.S. states, finding that increased turnover increases capital spending by state governments, which may be designed to constrain future governments. The changes may cause long-run distortions in the economy, reducing long-term economic growth.
Book Synopsis Fiscal Adjustment for Stability and Growth by : Mr.James Daniel
Download or read book Fiscal Adjustment for Stability and Growth written by Mr.James Daniel and published by International Monetary Fund. This book was released on 2006-08-17 with total page 80 pages. Available in PDF, EPUB and Kindle. Book excerpt: The pamphlet (which updates the 1995 Guidelines for Fiscal Adjustment) presents the IMF’s approach to fiscal adjustment, and focuses on the role that sound government finances play in promoting macroeconomic stability and growth. Structured around five practical questions—when to adjust, how to assess the fiscal position, what makes for successful adjustment, how to carry out adjustment, and which institutions can help—it covers topics such as tax policies, debt sustainability, fiscal responsibility laws, and transparency.
Author :International Monetary Fund Publisher :International Monetary Fund ISBN 13 :1498344658 Total Pages :257 pages Book Rating :4.4/5 (983 download)
Book Synopsis Fiscal Policy and Long-Term Growth by : International Monetary Fund
Download or read book Fiscal Policy and Long-Term Growth written by International Monetary Fund and published by International Monetary Fund. This book was released on 2015-04-20 with total page 257 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper explores how fiscal policy can affect medium- to long-term growth. It identifies the main channels through which fiscal policy can influence growth and distills practical lessons for policymakers. The particular mix of policy measures, however, will depend on country-specific conditions, capacities, and preferences. The paper draws on the Fund’s extensive technical assistance on fiscal reforms as well as several analytical studies, including a novel approach for country studies, a statistical analysis of growth accelerations following fiscal reforms, and simulations of an endogenous growth model.
Book Synopsis Fiscal Policy, Stabilization, and Growth by : Guillermo E. Perry
Download or read book Fiscal Policy, Stabilization, and Growth written by Guillermo E. Perry and published by World Bank Publications. This book was released on 2007-10-19 with total page 354 pages. Available in PDF, EPUB and Kindle. Book excerpt: Fiscal policy in Latin America has been guided primarily by short-term liquidity targets whose observance was taken as the main exponent of fiscal prudence, with attention focused almost exclusively on the levels of public debt and the cash deficit. Very little attention was paid to the effects of fiscal policy on growth and on macroeconomic volatility over the cycle. Important issues such as the composition of public expenditures (and its effects on growth), the ability of fiscal policy to stabilize cyclical fluctuations, and the currency composition of public debt were largely neglected. As a result, fiscal policy has often amplified cyclical volatility and dampened growth. 'Fiscal Policy, Stabilization, and Growth' explores the conduct of fiscal policy in Latin America and its consequences for macroeconomic stability and long-term growth. In particular, the book highlights the procyclical and anti-investment biases embedded in the region's fiscal policies, explores their causes and macroeconomic consequences, and asesses their possible solutions.
Book Synopsis Term Limits in State Legislatures by : John M. Carey
Download or read book Term Limits in State Legislatures written by John M. Carey and published by University of Michigan Press. This book was released on 2009-11-12 with total page 187 pages. Available in PDF, EPUB and Kindle. Book excerpt: It has been predicted that term limits in state legislatures--soon to be in effect in eighteen states--will first affect the composition of the legislatures, next the behavior of legislators, and finally legislatures as institutions. The studies in Term Limits in State Legislatures demonstrate that term limits have had considerably less effect on state legislatures than proponents predicted. The term-limit movement--designed to limit the maximum time a legislator can serve in office--swept through the states like wildfire in the first half of the 1990s. By November 2000, state legislators will have been "term limited out" in eleven states. This book is based on a survey of nearly 3,000 legislators from all fifty states along with intensive interviews with twenty-two legislative leaders in four term-limited states. The data were collected as term limits were just beginning to take effect in order to capture anticipatory effects of the reform, which set in as soon as term limit laws were passed. In order to understand the effects of term limits on the broader electoral arena, the authors also examine data on advancement of legislators between houses of state legislatures and from the state legislatures to Congress. The results show that there are no systematic differences between term limit and non-term limit states in the composition of the legislature (e.g., professional backgrounds, demographics, ideology). Yet with respect to legislative behavior, term limits decrease the time legislators devote to securing pork and heighten the priority they place on the needs of the state and on the demands of conscience relative to district interests. At the same time, with respect to the legislature as an institution, term limits appear to be redistributing power away from majority party leaders and toward governors and possibly legislative staffers. This book will be of interest both to political scientists, policymakers, and activists involved in state politics. John M. Carey is Assistant Professor of Political Science, Washington University in St. Louis. Richard G. Niemi is Professor of Political Science, University of Rochester. Lynda W. Powell is Professor of Political Science, University of Rochester.
Book Synopsis Why is Fiscal Policy Often Procyclical? by : Alberto Alesina
Download or read book Why is Fiscal Policy Often Procyclical? written by Alberto Alesina and published by . This book was released on 2005 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt: Many countries, especially developing ones, follow procyclical fiscal polices, namely spending goes up (taxes go down) in booms and spending goes down (taxes go up) in recessions. We provide an explanation for this suboptimal fiscal policy based upon political distortions and incentives for less-than-benevolent government to appropriate rents. Voters have incentives similar to the "starving the Leviathan" classic argument, and demand more public goods or fewer taxes to prevent governments from appropriating rents when the economy is doing well. We test this argument against more traditional explanations based purely on borrowing constraints, with a reasonable amount of success.
Book Synopsis Fiscal Rules to Tame the Political Budget Cycle by : Lorenzo Forni
Download or read book Fiscal Rules to Tame the Political Budget Cycle written by Lorenzo Forni and published by International Monetary Fund. This book was released on 2017-01-20 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper provides evidence that fiscal rules can limit the political budget cycle. It focuses on the application of the Italian fiscal rule at the sub-national level over the period 2004-2006 and shows that: 1) municipalities are subject to political budget cycles in capital spending; 2) the Italian subnational fiscal rule introduced in 1999 has been enforced by the central government; 3) municipalities subject to the fiscal rule show more limited political budget cycles than municipalities not subject to the rule. In order to identify the effect, we rely on the fact that the domestic fiscal rule does not apply to municipalities below 5,000 inhabitants. We find that the political budget cycle increases real capital spending by about 35 percent on average in the years prior to municipal elections and that the sub-national fiscal rule reduces these figures by about two thirds.
Book Synopsis Money in Politics by : Simon Weschle
Download or read book Money in Politics written by Simon Weschle and published by Cambridge University Press. This book was released on 2022-06-09 with total page 273 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book explains when and how money enters politics in different ways, and what consequences this has.
Book Synopsis Fiscal Policy after the Financial Crisis by : Alberto Alesina
Download or read book Fiscal Policy after the Financial Crisis written by Alberto Alesina and published by University of Chicago Press. This book was released on 2013-06-25 with total page 596 pages. Available in PDF, EPUB and Kindle. Book excerpt: The recent recession has brought fiscal policy back to the forefront, with economists and policy makers struggling to reach a consensus on highly political issues like tax rates and government spending. At the heart of the debate are fiscal multipliers, whose size and sensitivity determine the power of such policies to influence economic growth. Fiscal Policy after the Financial Crisis focuses on the effects of fiscal stimuli and increased government spending, with contributions that consider the measurement of the multiplier effect and its size. In the face of uncertainty over the sustainability of recent economic policies, further contributions to this volume discuss the merits of alternate means of debt reduction through decreased government spending or increased taxes. A final section examines how the short-term political forces driving fiscal policy might be balanced with aspects of the long-term planning governing monetary policy. A direct intervention in timely debates, Fiscal Policy after the Financial Crisis offers invaluable insights about various responses to the recent financial crisis.
Book Synopsis Tax Policy and Inclusive Growth by : Khaled Abdel-Kader
Download or read book Tax Policy and Inclusive Growth written by Khaled Abdel-Kader and published by INTERNATIONAL MONETARY FUND. This book was released on 2020-12-04 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper discusses the theory and practice of tax design to achieve an efficient and equitable outcome, i.e. in support of inclusive growth. It starts with a discussion of the key principles from tax theory to guide practical tax design. Then, it elaborates on more granular tax policy, discussing key choices in the structure of the personal income tax on labor and capital income, taxes on wealth, the corporate income tax, and consumption taxes. The paper concludes by highlighting the political economy considerations of the issues with concrete recommedtions as to how to implement tax reform.
Book Synopsis Revenue Mobilization in Developing Countries by : International Monetary Fund. Fiscal Affairs Dept.
Download or read book Revenue Mobilization in Developing Countries written by International Monetary Fund. Fiscal Affairs Dept. and published by International Monetary Fund. This book was released on 2011-08-03 with total page 86 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Fund has long played a lead role in supporting developing countries’ efforts to improve their revenue mobilization. This paper draws on that experience to review issues and good practice, and to assess prospects in this key area.
Book Synopsis Taxation, Government Spending and Economic Growth by : Philip Booth
Download or read book Taxation, Government Spending and Economic Growth written by Philip Booth and published by London Publishing Partnership. This book was released on 2016-11-01 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: Amidst the debates about ‘austerity’ a number of vital debates in public finance have been sidelined. Because the reductions in government spending – small though they have been so far- have been designed to reduce the government’s borrowing requirement, there has been little discussion of whether the size of the state should be reduced in order to facilitate long-run reductions in the burden of taxation. This book traces the history of the growth of the size of the state over the last 100 years whilst also making international comparisons. There is a particular focus on recent and projected future developments which shows that, though the total level of government spending has not decreased significantly in recent years, there has been a big redirection of spending from some areas to others. The authors then examine the evidence on the relationship between taxation and economic growth. As well as reviewing recent literature, they also undertake new modelling that higher taxes are detrimental for growth. In the final part of the book, the whole UK tax system is reconsidered in a proper economic framework. The UK has one of the world’s most complex tax systems and its incoherence has increased over the last five years. Sweeping reforms are proposed to the system which wold involve abolishing around 20 taxes and the development of a simple, predictable tax system based on principles that should gain wide acceptance.
Book Synopsis Law and Macroeconomics by : Yair Listokin
Download or read book Law and Macroeconomics written by Yair Listokin and published by Harvard University Press. This book was released on 2019-03-11 with total page 281 pages. Available in PDF, EPUB and Kindle. Book excerpt: After 2008, private-sector spending took a decade to recover. Yair Listokin thinks we can respond more quickly to the next meltdown by reviving and refashioning a policy approach, used in the New Deal, to harness law’s ability to function as a macroeconomic tool, stimulating or relieving demand as required under certain crisis conditions.
Book Synopsis Fiscal Policy and Economic Growth by : Cheryl Williamson Gray
Download or read book Fiscal Policy and Economic Growth written by Cheryl Williamson Gray and published by World Bank Publications. This book was released on 2007 with total page 358 pages. Available in PDF, EPUB and Kindle. Book excerpt: Worldwide experience highlights public finance policies that promote economic growth while meeting the need for fundamental public goods. Macroeconomic stability is essential, as large budget deficits retard growth, followed by moderate levels of public spending - around one-third of GDP or less - especially when governance and public administration are weak; that in turn requires efficiency, particularly in areas such as infrastructure, health, education, and social protection; finally, lower income and payroll tax rates can spur investment and employment. The Eastern European and Central Asia countries pioneered flat income taxes without generally suffering revenue losses as a result, but they have not addressed the problem of high payroll taxes and still face many hurdles in improving the efficiency and effectiveness of public spending and revenue generation.
Book Synopsis Fiscal Policies in Economies in Transition by : Mr.Vito Tanzi
Download or read book Fiscal Policies in Economies in Transition written by Mr.Vito Tanzi and published by International Monetary Fund. This book was released on 1992-06-01 with total page 376 pages. Available in PDF, EPUB and Kindle. Book excerpt: The collapse of central economic planning in many countries and the breakup of the Soviet Union have put into disarray systems of government revenues and expenditures in those countries. This collection of 16 papers, edited by Vito Tanzi, analyzes the strengths and weaknesses of fiscal policies under the old system of central planning and suggests ways to revitalize those policies in the newly emerging market economies.
Book Synopsis Institutional Change in American Politics by : Karl T. Kurtz
Download or read book Institutional Change in American Politics written by Karl T. Kurtz and published by University of Michigan Press. This book was released on 2009-12-18 with total page 241 pages. Available in PDF, EPUB and Kindle. Book excerpt: Legislative term limits adopted in the 1990s are in effect in fifteen states today. This reform is arguably the most significant institutional change in American government of recent decades. Most of the legislatures in these fifteen states have experienced a complete turnover of their membership; hundreds of experienced lawmakers have become ineligible for reelection, and their replacements must learn and perform their jobs in as few as six years. Now that term limits have been in effect long enough for both their electoral and institutional effects to become apparent, their consequences can be gauged fully and with the benefit of hindsight. In the most comprehensive study of the subject, editors Kurtz, Cain, and Niemi and a team of experts offer their broad evaluation of the effects term limits have had on the national political landscape. "The contributors to this excellent and comprehensive volume on legislative term limits come neither to praise the idea nor to bury it, but rather to speak dispassionately about its observed consequences. What they find is neither the horror story of inept legislators completely captive to strong governors and interest groups anticipated by the harshest critics, nor the idyll of renewed citizen democracy hypothesized by its more extreme advocates. Rather, effects have varied across states, mattering most in the states that were already most professionalized, but with countervailing factors mitigating against extreme consequences, such as a flight of former lower chamber members to the upper chamber that enhances legislative continuity. This book is must reading for anyone who wants to understand what happens to major institutional reforms after the dust has settled." ---Bernard Grofman, Professor of Political Science and Adjunct Professor of Economics, School of Social Sciences, University of California, Irvine "A decade has passed since the first state legislators were term limited. The contributors to this volume, all well-regarded scholars, take full advantage of the distance afforded by this passage of time to explore new survey data on the institutional effects of term limits. Their book is the first major volume to exploit this superb opportunity." ---Peverill Squire, Professor, Department of Political Science, University of Iowa Karl T. Kurtz is Director of the Trust for Representative Democracy at the National Conference of State Legislatures. Bruce Cain is Heller Professor of Political Science and Director of the Institute of Governmental Studies at the University of California at Berkeley, and the Director of the University of California Washington Center. Richard G. Niemi is Don Alonzo Watson Professor of Political Science at the University of Rochester.
Book Synopsis The EU Political System After the 2019 European Elections by : Olivier Costa
Download or read book The EU Political System After the 2019 European Elections written by Olivier Costa and published by Springer Nature. This book was released on 2022-11-22 with total page 532 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book assesses the impact of the May 2019 European elections as well as the Covid-19 pandemic on the EU’s politics, institutions, and policies. Special attention is paid to the impact of these events on the different political forces as well as on the Union’s institutional balance, its priorities and the reform of its budget and policies. Because of the many post-electoral uncertainties, the book also takes into account how the relations between the Parliament, the European Council and the new Commission have developed. Furthermore, it analyses the capacity of the von der Leyen Commission to implement an ambitious programme, especially in the context of an unfolding pandemic. The objective of this book is to study the 2019 electoral sequence (parliamentary elections, appointment of EU institutions leaders, investiture of the Commission, new legislative programme) and determine its influence on the main institutional and political challenges for the 2019-2024 legislature. In other words, the volume deals with the question of who holds the EU’s leadership after the 2019 elections and how it handles the 2020-2021 pandemic.
