It has been shown that under perfect competition and constant returns-to-scale, a onesector real business cycle model may exhibit indeterminacy and sunspots when income tax rates are determined by a balanced-budget rule with a pre-set level of government expenditures. This paper shows that indeterminacy disappears if the government finances endogenous public spending and transfers with fixed in...

The Institute of Public Finance deals with economic research and analysis related to various forms of public finances such as the budget, taxation and customs duties. Its orientation is thus to the various economic, legal and institutional topics that are important for the sound long-term economic development of the Republic of Croatia. So that the public should be able to have a better insight...

Groves and Ledyard (1977) construct a mechanism for public goods procurement that can be viewed as a direct-revelation Groves mechanism in which agents announce a parameter of a quadratic approximation of their true preferences. The mechanism’s Nash equilibrium outcomes are efficient. The budget is balanced because Groves mechanisms are balanced for the announced quadratic preferences. Tian (19...

This paper incorporates two-stage education in a political economy model to study the endogenous determination of public budget allocation across education stages. With hierarchical education, individuals’ benefits from higher education depend on their qualifications, and congestion arises when higher enrollment lowers schooling quality. In less developed economies, the top class has dominant p...

Since the early 1990’s the general and financial management of the Victorian public sector has been significantly transformed. This research constructs and explains the content, nature and quality of non-financial disclosures, including those related to performance indicators via a disclosure indicator analysis (DIA) of actual reporting practices in recent Government Budget papers. It reports t...

In part due to the increasing demand for citizen participation in public decision processes, participatory budgets are becoming increasingly popular in many municipalities. As there is little methodology available for this type of activities and Information Technologies are scarcely used in them, we describe a prototype of a web-based decision support tool for participatory budget problems. We ...

BACKGROUND Public district hospitals (PDHs) in Tunisia are not operating at full plant capacity and underutilize their operating budget. METHODS Individual PDHs capacity utilization (CU) is measured for 2000 and 2010 using dual data envelopment analysis (DEA) approach with shadow prices input and output restrictions. The CU is estimated for 101 of 105 PDH in 2000 and 94 of 105 PDH in 2010. ...

Why are the British public so suspicious of science and scientists? These days many might point to ‘mad cow’ disease and genetically modified foods as primary causes, but the public’s mistrust of science goes back much further and runs much deeper than these recent scares. As a child in Britain, most of my classmates seemed instinctively to know that science was difficult and boring, and that o...