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  1. A closer look at subnational government finances
    Author: Olsson, Hans; Catz, Julia
    Published: [2023]
    Publisher:  European Central Bank, Frankfurt am Main, Germany

    To carry out the analysis required for monetary policy, the European Central Bank (ECB) and the European System of Central Banks (ESCB) need comprehensive and reliable government finance statistics. The focus of government finance statistics has... more

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    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    DS 536
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    To carry out the analysis required for monetary policy, the European Central Bank (ECB) and the European System of Central Banks (ESCB) need comprehensive and reliable government finance statistics. The focus of government finance statistics has traditionally been the government as a whole (consolidated), with a particular emphasis on central government. In recent years, however, the focus on subnational government finance statistics has increased, with stories of misreporting by a number of such governments hitting the news. Moreover, subnational governments are the layer of government to which people have the closest connection through their use of services that are either subsidised or directly provided by these bodies. These two aspects prompted the authors to take a closer look at the subnational government finance statistics of all European Union (EU) countries during the period 2000-19 (before, during and after the financial crisis). Data for the year 2020 are not included in this paper to prevent the analysis being skewed by the impact of government coronavirus measures. First of all, subnational government deficit figures are scrutinised and one of the questions asked is the extent to which the financial crisis affected deficit figures. In the next section, the change in government debt is examined as a comparison with the deficit figures could provide further information on the financing of subnational government deficits. The authors assess which part of subnational government debt is held by other subsectors of government and go on to examine the financial assets held by subnational governments and their net financial worth. Has higher debt eroded subnational governments' net financial worth or has net financial worth remained relatively stable over time? The paper then delves into subnational government expenditure to establish the types of activities subnational governments spend their money on. Finally, the authors look at the sources of revenue of subnational governments to establish which part is financed by central government and which part is financed by other revenue sources.

     
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    Source: Union catalogues
    Language: English
    Media type: Ebook
    Format: Online
    ISBN: 9789289955263
    Other identifier:
    hdl: 10419/274117
    Series: Statistics paper series / European Central Bank ; no 42 (February 2023)
    Subjects: government finance statistics; state and local government; deficit; revenue; expenditure; debt; net financial worth; financial crisis
    Scope: 1 Online-Ressource (circa 42 Seiten), Illustrationen
  2. Structural unemployment vs. NAWRU
    implications for the assessment of the cyclical position and the fiscal stance
    Author: Lendvai, Julia; Salto, Matteo; Thum-Thysen, Anna
    Published: 2015
    Publisher:  Europ. Comm., Directorate-General for Economic and Financial Affairs, Brussels

    Location:
    Technische Informationsbibliothek (TIB) / Leibniz-Informationszentrum Technik und Naturwissenschaften und Universitätsbibliothek
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    EDZ online a
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    Location:
    Thüringer Universitäts- und Landesbibliothek
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    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
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    VS 289 (552)
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    Source: Union catalogues
    Language: English
    Media type: Ebook
    Format: Online
    ISBN: 9789279448263
    Other identifier:
    Series: Array ; 552
    Subjects: structural balance; output gap; potential growth; debt; deficit; stabilisation
    Scope: Online-Ressource (21 S.), graph. Darst.
  3. Borda count method for fiscal policy
    a political economic analysis
    Author: Ishida, Ryo; Oguro, Kazumasa
    Published: May 2017
    Publisher:  Research Department, Policy Research Institute, MOF, Tokyo, Japan

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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: PRI discussion paper series ; no. 17A, 07
    Subjects: relative majority rule; Borda count method; deficit
    Scope: 1 Online-Ressource (circa 22 Seiten)
  4. The future of taxation in changing labour markets
    Author: Christl, Michael; Livanos, Ilias; Papini, Andrea; Tumino, Alberto
    Published: 2022
    Publisher:  European Commission, Seville

    This paper provides a first assessment of the fiscal and distributional consequences of the ongoing structural changes in the labour markets of EU Member States, mostly driven by technological progress and ageing. Cedefop 2020 Skill forecasts,... more

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    This paper provides a first assessment of the fiscal and distributional consequences of the ongoing structural changes in the labour markets of EU Member States, mostly driven by technological progress and ageing. Cedefop 2020 Skill forecasts, EUROSTAT population projections and the forecast on pension expenditures from the 2021 Ageing Report depict a scenario of an ageing population, an inverted U-shaped unemployment trend and potentially polarising labour markets, the latter mostly driven by a surge in high-skill occupations. This analysis makes use of the microsimulation model EUROMOD and reweighting techniques to analyse the fiscal and distributional impacts of these trends, given the current tax-benefit policies. The results suggest that the macro trends will increase pressure on government budgets. The analysis also shows evidence of the capacity of the current tax-benefit systems to counterbalance the increases in income inequality and poverty risks triggered by the expected future labour markets developments.

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/280861
    Series: JRC working papers on taxation and strucutral reforms ; no 2022, 02
    JRC technical report
    Subjects: income distribution; budget; deficit; job polarisation; population ageing
    Scope: 1 Online-Ressource (circa 34 Seiten), Illustrationen
  5. The fiscal effect of immigration
    reducing bias in influential estimates
    Author: Clemens, Michael A.
    Published: September 2022
    Publisher:  IZA - Institute of Labor Economics, Bonn, Germany

    Immigration policy can have important net fiscal effects that vary by immigrants' skill level. But mainstream methods to estimate these effects are problematic. Methods based on cashflow accounting offer precision at the cost of bias; methods based... more

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    Immigration policy can have important net fiscal effects that vary by immigrants' skill level. But mainstream methods to estimate these effects are problematic. Methods based on cashflow accounting offer precision at the cost of bias; methods based on general equilibrium modeling address bias with limited precision and transparency. A simple adjustment greatly reduces bias in the most influential and precise estimates: conservatively accounting for capital taxes paid by the employers of immigrant labor. The adjustment is required by firms' profit-maximizing behavior, unconnected to general equilibrium effects. Adjusted estimates of the positive net fiscal impact of average recent U.S. immigrants rise by a factor of 3.2, with a much shallower education gradient. They are positive even for an average recent immigrant with less than high school education, whose presence causes a present-value subsidy of at least $128,000 to all other taxpayers collectively.

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/265813
    Series: Discussion paper series / IZA ; no. 15592
    Subjects: Einwanderung; Arbeitsmigranten; Wirkungsanalyse; Steuereinnahmen; Schätzung; USA; immigration; fiscal; tax; revenue; budget; deficit; surplus; capital; cost; benefit; dividend; subsidy; burden; social security; welfare; outlays; balance; foreign; skill; government; public
    Scope: 1 Online-Ressource (circa 47 Seiten), Illustrationen
  6. The fiscal effect of immigration
    reducing bias in influential estimates
    Author: Clemens, Michael A.
    Published: December 2021
    Publisher:  CESifo, Center for Economic Studies & Ifo Institute, Munich, Germany

    Immigration policy can have important net fiscal effects that vary by immigrants' skill level. But mainstream methods to estimate these effects are problematic. Methods based on cash-flow accounting offer precision at the cost of bias; methods based... more

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    Immigration policy can have important net fiscal effects that vary by immigrants' skill level. But mainstream methods to estimate these effects are problematic. Methods based on cash-flow accounting offer precision at the cost of bias; methods based on general equilibrium modeling address bias with limited precision and transparency. A simple adjustment greatly reduces bias in the most influential and precise estimates: conservatively accounting for capital taxes paid by the employers of immigrant labor. The adjustment is required by firms’ profit-maximizing behavior, unconnected to general equilibrium effects. Adjusted estimates of the positive net fiscal impact of average recent U.S. immigrants rise by a factor of 3.2, with a much shallower education gradient. They are positive even for an average recent immigrant with less than high school education, whose presence causes a present-value subsidy of at least $128,000 to all other taxpayers collectively.

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/249009
    Series: CESifo working paper ; no. 9464 (2021)
    Subjects: Einwanderung; Arbeitsmigranten; Wirkungsanalyse; Steuereinnahmen; Schätzung; USA; immigration; fiscal; budget; budgetary; tax revenue; benefits; taxes; deficit; surplus; gain; contribution; welfare; social security
    Scope: 1 Online-Ressource (circa 46 Seiten), Illustrationen
  7. Signalling fiscal stress in the euro area
    a country-specific early warning system
    Author: Hernández de Cos, Pablo; Moral-Benito, Enrique; Koester, Gerrit B.; Nickel, Christiane
    Published: 2014
    Publisher:  Banco de España, Madrid

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    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: Documentos de trabajo / Banco de España, Eurosistema ; no. 1418
    Subjects: fiscal policy; studies of particular policy episodes; general outlook and conditions; deficit; surplus; debt; debt management; sovereign debt; international lending and debt problems
    Scope: 1 Online-Ressource (circa 31 Seiten), Illustrationen
    Notes:

    Zusammenfassung in spanischer Sprache
  8. Desigualdade, desequilíbrio e ajuste em sistema de previdência por repartição
    Author: Moreira, Ajax; Ferreira, Sérgio Guimarães; Foguel, Miguel Nathan
    Published: abril de 2021
    Publisher:  Instituto de Pesquisa Econômica Aplicada, Rio de Janeiro

    In a pay-as-you-go system (SPR) receives contributions from active generations to finance the benefit of inactive people, making their financial balance depend on the proportion of inactive people in the population, a proportion that will double in... more

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    In a pay-as-you-go system (SPR) receives contributions from active generations to finance the benefit of inactive people, making their financial balance depend on the proportion of inactive people in the population, a proportion that will double in Brazil in the next 30 years, making it inevitable to change the rules to mitigate the imbalance financial. In this system financial balance is achieved by increasing the contribution or reducing the benefit of agents, and these changes modify the rules of distribution, impacting agents born in the same cohort and in different cohorts differently. In this exercise, we are going to evaluate the SPR in force in Brazil in 2019/2020, where agents are heterogeneous, are inserted in a job market where there is informal employment and agents do not always contribute to social security, and there are rules that guarantee a value minimum for the benefit, and minimum income for the poor elderly. The model uses scenarios for the future evolution of productivity, the likelihood of contributing, education and demographics, to project the effect of different SPR rules on the financial results of each type of agent over the generations, and to project the financial imbalance SPR each year. To avoid the need for parametric reforms that are generally politically costly and time-consuming, we consider mechanisms for adjusting contributions and benefits that guarantee the financial balance they regulate, between active and inactive and between types of agents, the burden of canceling the imbalance.

     
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    Source: Union catalogues
    Language: Portuguese
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/240840
    Series: Texto para discussão / Ipea ; 2646
    Subjects: breakdown pension; deficit; inequality
    Scope: 1 Online-Ressource (circa 56 Seiten), Illustrationen