This paper examines the relationship between fiscal policy and inflation for 44 countries, from 1960 to 2020. The study was conducted using a panel VAR approach while accounting difference in monetary frameworks levels of space across countries. Results suggest that budget deficits are less likely cause when is based on targeting. In contrast, they inflationary group countries with poorly struc...

after the establishment of the opec, oil-rich countries of the third world, which were in struggle with big petroleum companies since the 1950s, tried to use oil as a means for achieving their economic and political goals. as an example, the opec raised the price of petroleum in 1973 and 1974 to unprecedent levels. concurrent with these conditions, richard nixon, then the president of the unite...

In this study, we explore how fiscal policy in euro area periphery countries responds to monetary surprises that lower sovereign bond yields. particular, assess whether the disciplining effect of financial markets on public finances is undermined by ability affect conditions external funds. Using Jorda's (2005) local projection method find discipline, average, does not wane response innovations...

this study investigates the causal linkages between military spending and economic growth in opec selected countries (i.e. algeria, angola, nigeria, venezuela, iran, kuwait, saudi arabia and ecuador) by focusing country-specific analysis for the period 1995–2012. for this, the panel causality testing approach, the method developed by emirmahmutoglu and kose (2011) based on the vector autoregres...

Flexible inflation targeting has been advocated as a practical approach to the implementation of an optimal state-contingent monetary policy, but theoretical expositions reaching this conclusion have typically abstracted from the fiscal consequences of monetary policy. Here we extend the standard theory by considering the character of optimal monetary policy under a variety of assumptions about...

This study investigates the impact of fiscal space on probability that government Indonesia will be able to implement counter-cyclical behavior. We use ordinary least squares and probit methods estimate policy reaction function. confirms increasing can increase execute its behavior policy. A proposal includes generating alternative sources revenues from taxes non-taxes redesigning subsidies tow...

Are public grant allocations biased toward the birth districts of governors, and, if so, what explains this favoritism? The allocation budget authority to local government officials is a common trend around developing world, but it often criticized for transferring favoritism from center lower levels. Using unique panel data set 410 Indonesian period 2005–2013, I exploit discretionary nature an...

One of the objectives of OPEC is the security of demand for the crude oil exports of its members. Achieving this objective is imperative with the projected decline in OECD countries' crude oil demand among other crude oil demand shocks. This paper focuses on determining the external crude oil demand security risks of OPEC member states. In assessing these risks, this study introduces two indexe...