In the existing literature, targeting rules are typically determined separately for monetary and fiscal policy. This article proposes a framework for determining targeting rules that account for the policy mix of both monetary and fiscal policy. The...
How should small states formulate a countercyclical fiscal policy to achieve economic stability and fiscal sustainability when they are prone to natural disasters, climate change, commodity price changes, and uncertain donor grants? We study how natu...
The aim of this research is to highlight the specificity of fiscal sustainability in some developing EU countries by analyzing the implications of fiscal rules on governments’ fiscal behaviors. We employ a panel data analysis to evaluate developing E...
This paper investigates how external shocks propagate through fiscal transmission mechanisms in a commodity-dependent economy within a dynamic macroeconomic framework. The study contributes to the literature on macroeconomic fluctuations by examining...
This study examines economic policy responses in Brazil during periods of financial stress, with a particular emphasis on the dynamics of both the impulse and rule components of fiscal policy. We offer novel empirical evidence on policy responses und...
Considering the goals of Modern Monetary Theorists, this article examines inflation stabilization and employment maximization through a Taylor Rule for fiscal policy, similar to John Taylor’s foundational examination of the behavior of the Fede...
Given that the European Union is facing complex fiscal challenges arising from recent crises, understanding the impact of fiscal rules, institutional governance, and economic performance is critical. This paper examines the effects of fiscal rules an...
This paper discusses the future of the Stability and Growth Pact (hereafter SGP). Although Neoclassical economic models argue that strict fiscal and monetary rules minimize moral hazard and crowding out, in practice many governments adopt fiscal expa...
This paper aims at studying the legal aspects of the European Union (EU)’s fiscal policy, analyzing the statute of fiscal responsibility legal framework, the different measures undertaken in the last years with respect to European trends in fis...
This paper introduces a novel framework for designing fair and sustainable unemployment benefits, grounded in cooperative game theory and real-time fiscal policy. The labor market is modeled as a coalitional game, where a random subset of participant...
This study investigates the determinants of medium-term revenue forecast errors across eight developed countries: the United States, the United Kingdom, Germany, Ireland, Hong Kong, New Zealand, Australia, and Canada. By examining two- and three-year...
We simulate the future performance of the Norwegian Government Pension Fund Global as a leading example of sovereign wealth funds intended both to preserve wealth and provide regular budget contributions. Withdrawals are limited to the fund’s e...
This study examined the determinants of fiscal space within the Sub-Saharan Africa (SSA) region, utilising a panel of 33 countries from 2005 to 2021. The paper applied the panel threshold, difference, and system generalised method of moments (GMM) re...
This research makes a significant contribution to the literature on the economic implications of fiscal policy and institutional quality by modeling empirically the impact of these factors on public debt in 27 transition countries over the period 200...
“Creating conditions for more people to have property income” has become a national policy after the 17th National Congress of the Communist Party of China. Based on the micro survey data from Chinese Family Panel Studies (CFPS) in 2010,...
This theoretical paper studies the relation between tax audits and labour market outcomes (job creation and unemployment) in an economy that contemplates penalties for firms that evade taxes and rewards for firms that comply with tax rules. Intuitive...
24 November 2022
It is necessary to reassess the pollution effects of decentralization reforms to improve the future policy design for better economic and social development in the postepidemic era. This study examines the relationship between decentralization and ai...
The Chinese government has continuously stressed the Chinese model and its characteristics for national economic governance. As a result, it is worth studying the effect of China’s rule of law on the government’s sustainable economic mana...
In this paper, an elementary mathematical model describing the introduction of a universal basic income in a closed market society is constructed. The model is formulated in terms of a system of nonlinear ordinary differential equations, each of whic...
Cochrane (2014) shows that high-powered money balances and short-term government bonds can be considered as perfect substitutes for the U.S economy during the past twenty years. We build on this claim and consider a variant of the standard cashless n...
This study examines the critical role of institutional quality in driving corporate adaptation to climate change within the EU-27 member states from 2006 to 2023. It aims to investigate how governance factors—control of corruption, government e...
The rural land right has paved the way for the deepening of China’s agricultural land system, which is critical to the successful implementation of the rural revitalization plan in the new era. Based on the micro-survey data of farmers in Yunna...
The development of the resource-based industry has obvious negative externality, and the government’s environmental regulation on the resource-based industry will force the technological innovation of the resource-based industry. This paper sel...
Rising residential land prices push up housing prices and worsen credit misallocation. These patterns emerge amid cyclical real estate fluctuations and heavy land-based public finance. Such pressures undermine macroeconomic stability and sustainable...
Artificial intelligence is increasingly used to support public safety by predicting events, uncovering patterns, and informing decisions. In Latin America, where crime burdens are high and data systems are heterogeneous, a region-focused synthesis is...