EUROPEAN GOVERNMENTS REDISTRIBUTE income among their citizens on a much larger scale than does the U.S. government. European social programs are more generous and reach a larger share of citizens. European tax systems are more progressive. European regulations designed to protect the poor are more intrusive. In this paper we try to understand why. The literature on the size of government is ric...

There is much evidence against the so-called ”too big to fail” hypothesis in the case of bailouts to sub-national governments. We look at a model where districts of different size provide local public goods with positive spillovers. Matching grants of a central government can induce socially-efficient provision, but districts can still exploit the intervening central government by inducing dire...

EUROPEAN GOVERNMENTS REDISTRIBUTE income among their citizens on a much larger scale than does the U.S. government. European social programs are more generous and reach a larger share of citizens. European tax systems are more progressive. European regulations designed to protect the poor are more intrusive. In this paper we try to understand why. The literature on the size of government is ric...

The federal government is larger than conventional budget measures suggest. Many tax preferences are effectively spending programs. Adding these spending-like tax preferences to federal outlays and receipts makes the government appear about 4 percent of GDP larger. The 1986 tax reform cut these benefits, but they have since rebounded to a larger share of GDP than before. Using this broader meas...

The purpose of this study was to investigate the effect of thequasi-state ownership of the stock exchange in the ratio of short-termand long-term Yhay Circle is one of the string str in this study usingdata from 51 companies accepted has been used in the Tehran StockExchange. methods of statistical analysis in this study, the correlationof the Q Rgr million via software using the Excel, spss18,...

Abstract This article argues that an important, yet overlooked, determinant of the government spending multiplier is direction fiscal intervention. Regardless whether we identify shocks from (1) a narrative approach or (2) timing restriction, find contractionary multiplier—the associated with negative shock to spending—is above 1 and largest in times economic slack. In contrast, expansionary po...