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Articles ( Showing 1-20 of 56 items)
Searched for: [ Keywords: "Government spending multipliers" ] clear all
Journal Article
Estimating the dynamics of fiscal financing in emerging economies
by Krastina Dzhambova
Abstract
I present a theoretical model and an empirical approach for jointly estimating the effectiveness of fiscal policy and the stochastic process of sovereign interest rate shocks. The theoretical model has features relevant to small open and emerging economies. Interest rate shocks affect the ability of firms to finance payroll expenses. This theoretical feature creates a propagati [...] Read more

Journal Article
Public spending and economic growth in Ivory Coast: Wagner’s law
by Siriki Coulibaly  and  Pierre Guei
Abstract
This study simultaneously tests Wagner’s law on one hand and Keynes proposition on the other hand related both government spending and output in Ivory Coast that experiencing long run economic growth and widened deficit. That challenges the country’s fiscal sustainability. With annual data from 1980 to 2020, results show that Wagner’s law holds, the elasticity [...] Read more

Letter
Government deficit and “The World’s smallest macroeconomic model” by Paul Krugman
by Yasuhito Tanaka
Abstract
In his "The World’s smallest macroeconomic model” (Krugman (1999)), Paul Krugman argued that under the assumption of price rigidity, a shortage of money supply leads to underemployment or recession, so increasing money supply can eliminate underemployment and restore full employment. But, how do we increase the money supply? I will show that we need a government def [...] Read more

Journal Article
Dilemma for fiscal policies: supporting economic activity, or ensuring public debt sustainability?
by Séverine Menguy
Abstract
We study analytically the conflict of goals between stabilizing economic activity and public debt sustainability, for the fiscal authorities. In the short run, an active and expansionary fiscal policy, increasing public investment or reducing the labor taxation rate, is growth enhancing. However, as these short term fiscal policies also decrease government revenue and increase [...] Read more

Journal Article
An overlapping generations version of Krugman’s world’s smallest macroeconomic model and fiscal deficit
by Yasuhito Tanaka
Abstract
This paper attempts to introduce an overlapping generations structure into Paul Krugman's "The world's smallest macroeconomic model" (Krugman (1999)) to examine the implications of fiscal policy, particularly fiscal deficits, in a framework suitable for policy analysis. In that paper, Krugman argued that under the price rigidity assumption, a shortage in the money supply leads [...] Read more

Journal Article
Post-Pandemic Rental Housing Affordability Economics in the U.S., U.K., & Canada
by Grant Alexander Wilson , Jason Jogia  and  Tyler Case
Abstract
Rental unaffordability is defined as spending more than 30% of a household’s gross income on rent. Post-pandemic inflation and interest rate increases have intensified rental unaffordability. This research examines rental affordability in the U.S., the U.K., and Canada. It also explores the effect of renters’ “affordability knowledge” – defined as [...] Read more

Journal Article
Keynesian Without the Policy: Why the Business Cycle is all about Business Confidence and Finance
by Karl Johan Bergstrӧ m
Abstract
Many of Keynes´s ideas and concepts are proven correct in this paper. The demand side, mainly business investments, drives the economy. Business firms steer the business cycle via profit expectations and animal spirits. Injections to and withdrawals from the circular flow of income are multiplied throughout the economy in accordance with Keynes´s multiplier. A sudde [...] Read more

Journal Article
Green transportation taxes and environmental sustainability: China experience
by NAILA NUREEN , Muhammad Sibt e Ali  and  Muhammad Sharjeel
Abstract
Environmental degradation is becoming a fundamental issue as it is directly associated with human lives and environmental sustainability. This research particularly highlights the significance of green transportation taxes in achieving environmental sustainability due to limited available literature considering the environmental sustainability and green transportation taxes nex [...] Read more
Hit Affiliation:
School of business administration, Government College University, Faisalabad, Pakistan

Journal Article
Modeling the Potential Impact of Government Regulation on Cryptocurrency Prices
by Kylie LoPiccolo  and  Francis Parisi
Abstract
Cryptocurrencies have gained popularity over the past five to six years. Most recently, events like the FTX bankruptcy fueled the interest in regulation. Moreover, it is possible that the FTX event disrupting the cryptocurrency market was a factor in Silicon Valley Bank's failure. While several countries consider regulation, from soft regulation, like Japan, to more rigid stand [...] Read more

Journal Article
ARDL and VECM Investigation of the Environmental Kuznets Curve Hypothesis in Egypt, India, Mexico, Pakistan, Thailand, and Turkey: Financial Development, Globalization, and Government Expenditure Implications for Sustainable Development
by Takashi Fukuda
Abstract
The present paper empirically examines the validity of the environmental Kuznets curve (EKC) hypothesis, which posits an inverted U-shaped relationship between CO2 emissions and economic growth, in Egypt, India, Mexico, Pakistan, Thailand, and Turkey for the period 1970-2020. The EKC validity is highly debated due to varying results across countries. This study is significant t [...] Read more

Journal Article
A study on the perception towards the impact of inflation of people of Gujarat state
by Kalpesh Gandhi
Abstract
Economy has various stages which have been described as economic cycle and due to that the circulatory movement observed, some have faster cycle some have longer cycle which depends on numbers of factors and from that inflation is an important segment. Various terms have been described for inflation, in simple meaning when price of different commodities have been raised compare [...] Read more
Hit Affiliation:
Department of Commerce, Assistant Professor at Government Arts and Commerce College Jafrabad, Jafrabad, India

Letter
Money holding and budget deficit in a growing economy with consumers living forever
by Yasuhito Tanaka
Abstract
I examine the problem of budget deficit in a growing economy in which consumers hold money as a part of their savings in the case where consumers live forever. For simplicity and tractability I use a discrete time dynamic model and Lagrange multiplier method. In the appendix I briefly explain the solution using a discrete time version of the Hamiltonian method. I will show the [...] Read more

Journal Article
The Effect of Public Contract Winning Announcements on Share Prices: An Event-Based Study on the Pharmaceutical Industry
by Eyden Samunderu  and  Anita Yordanova
Abstract
The purpose of this paper is to examine and elucidate the effect of the announcement of winning a US federal contract by pharmaceutical companies, traded on the NASDAQ stock exchange on the share prices. The analysis is based on a sample of 327 event days from 12 pharmaceutical companies listed on the NASDAQ market for a given period (2010 – 2021). The sample is analysed [...] Read more

Journal Article
Does Education Predict Women’s Use of Unsustainable Biomass Cooking Technologies? Evidence from a Natural Experiment
by Jean-Louis Bago  and  Marie Madeleine Ouoba
Abstract
In developing countries, the dependence on traditional biomass for domestic energy consumption is one of the major causes of deforestation and environmental poverty. This paper investigates the impact of women’s education on the probability of using Unsustainable Biomass Cooking Technologies (UBCT) as the household main fuel of cooking instead of clean energy. Combining d [...] Read more
Hit Affiliation:
Department of Economics, Government of Quebec, Canada

Journal Article
How Shopping Platforms Play a Role in the Credit Card Industry
by Sipeng Zeng
Abstract
We develop a four-party model involving banks, merchants, consumers, and platform firms to explain why large shopping malls can offer interest-free installment services to consumers. Using a collaboration between an online shopping platform firm and multiple banks to issue co-branded credit cards as a natural experiment, we find that consumers’ spending on the platform fu [...] Read more

Journal Article
Pakistan’s Energy Dilemma and Its Consequences on Economic Growth
by Tooba Rehan Haqqi  and  Muhammad Farhan Fiaz
Abstract
Technological advancements in the last few decades have created energy and cost-efficient power plants, but it is not a prominent feature in the electricity supply-chain. While many long-term and short-term energy alternatives are available, Pakistan still has a significant number of people who do not have access to electricity; as there are many areas that are neither connecte [...] Read more
Hit Affiliation:
Department of Government & Public Policy, National University of Sciences and Technology, Islamabad, Pakistan

Journal Article
Testing the Oswald hypothesis with Australian census data 2001-2016
by Megha Raut  and  W. Robert J. Alexander
Abstract
The Oswald hypothesis is that home ownership reduces mobility and through that channel results in poorer labor market outcomes. There has been only limited previous evidence on the Australian case. Here we use data from the first four Australian censuses of the twenty-first century, aggregated at the smallest geographical areas for which statistics are released. We propose test [...] Read more
Hit Affiliation:
Department of Industry Tourism and Trade, Northern Territory Government, Darwin, Australia

Journal Article
Optimal Commodity Storage: Privately and Publicly Financed Storage Compared
by Paul Hallwood
Abstract
Consideration of optimal commodity storage with different discount rates. Finding that, even with a lower discount rate than private storage, optimal government-financed storage may not narrow price fluctuations compared with optimal privately financed storage because a government has to choose a probability of buffer stock failure greater than zero to economize on storage cost [...] Read more

Journal Article
Follow Suit: Imitative governance, resource inclination, and regional innovation efficiency
by Shutter Zor , Jingru Chen , Jietie Ailimujiang  and  Fayao Wang
Abstract
Influenced by traditional notions of solidarity, when a province’s planning can be highly aligned with that of the central government, the province is perceived to be more collective and thus able to receive financial or resource favors from the central government. This consistency, as is often the case, reflected in doing the same thing as the central government. This si [...] Read more

Journal Article
The effectiveness of the european central bank in pursuing its prime mandate
by Mark Scholliers  and  Herman Matthijs
Abstract
The objectives and tasks of the European Central Bank (ECB) are defined in Articles 2 and 3 of Protocol (No 4) on the Statute of the European System of Central Banks (ESCB) and of the European Central Bank (ECB). While in Article 3,1° of this Protocol other tasks are mentioned, the prime objective of the ESCB and therefore of the ECB, is price stability. This concept was or [...] Read more