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Two objectives of budgetary policy are an efficient allocation of resources subject to a fair distribution of income and a stable macroeconomic environment. The OECD pursues empirical analysis to underpin budgetary policy recommendations in both these areas.
Permanent URL: www.oecd.org/eco/public_finance
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08-Jul-2009
The economic crisis will both sharply reduce SCG’s own tax revenues and – via budget constraints at the central level – increase pressure on the grant system. The crisis could hence help rethink the SCG revenue mix, their tax structure and the size and design of intergovernmental transfers.
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08-Jul-2009
This pilot study presents indicators that assess sub-central government (SCG) spending power by policy area. Results tend to confirm the limited discretion of SCGs over their own budget. Education in particular – the main SCG budget item in most countries – is strongly shaped by central government regulation.
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06-Jul-2009
Brazil, like other natural resource exporting countries, has benefited from a sharp increase in commodity prices over the last few years. To investigate the possible impact of terms of trade gains on the real economy, this paper estimates normalised quadratic input demand and output supply functions for the Brazilian economy during 1997-2008.
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06-Jul-2009
The computation of non linear impulse response functions suggests that the system’s history, as well as the sign and magnitude of shocks, affect the current account’s responses to exogenous changes in income, government consumption and investment. In particular, responses to fiscal shocks depend on whether they are positive or negative and whether they follow periods of fiscal expansions or contractions.
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20-Mar-2009
The aim of this Working Paper is to analyze the relation between the volatility of government consumption and country size. The results are robust to different time and country samples, different econometric techniques and to several sets of control variables.
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