Budgetary Punctuations: A Fiscal Management Perspective

Future fiscal and budgetary shocks

We study here the effects of future tax and budgetary shocks on present levels of economic activity and real interest rates in a nonmonetary and possibly non-Ricardian economy. The paper first takes up an (unanticipated) temporary tax cut to be effective on a given future date—a delayed “debt bomb.” The sudden prospect of this future-dated shock causes at once a drop in the (unit) value placed ...

On the Use of Budgetary Norms as A Tool For Fiscal Management

The use of expenditure needs, sometimes referred to as “expenditure norms”, “budgetary norms”, or “minimum standards”, is important in the formulation of budgets and, especially, in the establishment of transfer and grant formulae. Minimum standards are also used by central governments to control expenditure policies of subnational governments, often with the goal of protecting and enhancing na...

Essential managerial skills for financial and budgetary management in medical universities: The top managers\' perspective

    Background: Achieving organizational objectives depends on the effectiveness of administrators. However, managerial efficacy largely depends on the knowledge and skills of managers. This study aimed at assessing the skills of financial and budget management of the Ministry of Health from the perspective of resource development assistants of universities of medical sciences na...

Budgetary Institutions and Expenditure Outcomes Binding Governments to Fiscal Performance

Fiscal Decentralization: A Political Economy Perspective

This paper surveys recent contributions to the study of fiscal decentralization which adopt a political economy approach. It is argued that this approach can capture, in a variety of formal models, the plausible and influential ideas (increasingly, supported by empirical evidence) that fiscal decentralization can lead to improved preference-matching and accountability of government. In particul...