Mohr investigates the impact of fiscal policy in Germany using a structural vector autoregressive (SVAR) model including four series: GDP, private consumption, government receipts and government expenditures. The author identifies independent revenue and expenditure shocks using a set of restrictions similar to those already employed in previous studies but still requiring, in the opinion of the author, a full theoretical and empirical validation. The results of the analysis concerning the responses of GDP and consumption tend to support standard presumptions. In particular, they indicate that a positive shock to expenditure increases GDP and private consumption, whereas a positive shock to revenue reduces them. In both cases, the impact on GDP reaches a maximum after about two years.
{"title":"On the Macroeconomic Impact of Fiscal Policy in Germany – Preliminary Results of a SVAR Approach","authors":"Matthias F. Mohr","doi":"10.2139/ssrn.2094361","DOIUrl":"https://doi.org/10.2139/ssrn.2094361","url":null,"abstract":"Mohr investigates the impact of fiscal policy in Germany using a structural vector autoregressive (SVAR) model including four series: GDP, private consumption, government receipts and government expenditures. The author identifies independent revenue and expenditure shocks using a set of restrictions similar to those already employed in previous studies but still requiring, in the opinion of the author, a full theoretical and empirical validation. The results of the analysis concerning the responses of GDP and consumption tend to support standard presumptions. In particular, they indicate that a positive shock to expenditure increases GDP and private consumption, whereas a positive shock to revenue reduces them. In both cases, the impact on GDP reaches a maximum after about two years.","PeriodicalId":206472,"journal":{"name":"INTL: Political & Legal Issues (Topic)","volume":"14 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2002-03-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128110883","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The need for coordinated development of domestic trade taxes in Indian federal polity has shifted the focus to reforms in the States' sales tax systems. The detailed analysis has led to a concensus on the need to transform the prevailing sales taxes into a destination based consumption type value added tax. The attempts to reform the sales taxes, however, have not been always in the right direction and, in addition, have met with resistance from traders. Based on the experience gained so far, the paper attempts to set out the strategy and stages of reform towards evolving the value added tax which is less distortionary and more acceptable to the traders.
{"title":"Value Added Taxation in the States: The Challenges Ahead","authors":"M. Rao, J. V. Sarma","doi":"10.2139/ssrn.2170025","DOIUrl":"https://doi.org/10.2139/ssrn.2170025","url":null,"abstract":"The need for coordinated development of domestic trade taxes in Indian federal polity has shifted the focus to reforms in the States' sales tax systems. The detailed analysis has led to a concensus on the need to transform the prevailing sales taxes into a destination based consumption type value added tax. The attempts to reform the sales taxes, however, have not been always in the right direction and, in addition, have met with resistance from traders. Based on the experience gained so far, the paper attempts to set out the strategy and stages of reform towards evolving the value added tax which is less distortionary and more acceptable to the traders.","PeriodicalId":206472,"journal":{"name":"INTL: Political & Legal Issues (Topic)","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1997-01-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130915656","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 1900-01-01DOI: 10.1093/acprof:oso/9780199934386.003.0007
A. Alemanno
In recent decades, governments across the world actively cooperated to harmonize and coordinate policies “behind the borders” through a variety of harmonization efforts at multilateral, as well as regional and bilateral, levels. These efforts have been dictated by the trade liberalization agenda, which perceives domestic regulatory action as a factor impeding international trade. While the WTO has been successful in removing barriers to trade at the border, it is proving less effective in the fight against non-tariff barriers (NTBs), today’s most prominent obstacles to trade exchanges. Given the current inability of the WTO to effectively address such concerns, some countries seem willing to go beyond traditional international treaty making and to explore new avenues of cooperation. The emerging phenomenon of “horizontal regulatory cooperation,” i.e., cooperation on crosscutting issues such as risk assessment, impact assessment, and cost-benefit analysis, seems to offer a promising venue for overcoming regulatory divergence. It relies on the assumption that substantive regulatory convergence can be facilitated by convergence of the general way in which regulators approach standard setting. At a time of growing international interest and policy diffusion of cost-benefit analysis, this chapter explores whether cost-benefit analysis could be used to promote rationality in regulatory decisionmaking beyond the nation-state. In so doing, it draws on the recent experience of international regulatory cooperation of some industrialized countries and examines the extent to which developing nations may be willing and able to participate in this cooperation exercise.
{"title":"Is There a Role for Cost-Benefit Analysis Beyond the Nation-State?: Lessons from International Regulatory Co-Operation","authors":"A. Alemanno","doi":"10.1093/acprof:oso/9780199934386.003.0007","DOIUrl":"https://doi.org/10.1093/acprof:oso/9780199934386.003.0007","url":null,"abstract":"In recent decades, governments across the world actively cooperated to harmonize and coordinate policies “behind the borders” through a variety of harmonization efforts at multilateral, as well as regional and bilateral, levels. These efforts have been dictated by the trade liberalization agenda, which perceives domestic regulatory action as a factor impeding international trade. While the WTO has been successful in removing barriers to trade at the border, it is proving less effective in the fight against non-tariff barriers (NTBs), today’s most prominent obstacles to trade exchanges. Given the current inability of the WTO to effectively address such concerns, some countries seem willing to go beyond traditional international treaty making and to explore new avenues of cooperation. The emerging phenomenon of “horizontal regulatory cooperation,” i.e., cooperation on crosscutting issues such as risk assessment, impact assessment, and cost-benefit analysis, seems to offer a promising venue for overcoming regulatory divergence. It relies on the assumption that substantive regulatory convergence can be facilitated by convergence of the general way in which regulators approach standard setting. At a time of growing international interest and policy diffusion of cost-benefit analysis, this chapter explores whether cost-benefit analysis could be used to promote rationality in regulatory decisionmaking beyond the nation-state. In so doing, it draws on the recent experience of international regulatory cooperation of some industrialized countries and examines the extent to which developing nations may be willing and able to participate in this cooperation exercise.","PeriodicalId":206472,"journal":{"name":"INTL: Political & Legal Issues (Topic)","volume":"17 4","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"113956738","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The role of bargaining councils, the central pillar of collective bargaining in South Africa, in the formation of wages is important in the context of high unemployment rates in South Africa. In this study we find that while institutionalised collective bargaining system covered substantially more formal sector workers in 2005 (30 percent) compared to 1995 (15 percent), this still meant that less than a third of the formally employed were covered by bargaining councils. Notwithstanding this, the overall rise in the number of workers covered by bargaining council agreements between 1995 and 2005 was driven almost primarily by the introduction of public sector councils. Thus, bargaining council coverage in the first decade of democracy is characterised by an erosion of coverage within the private sector bargaining council system on the one hand and the rapid rise of this system of bargaining in the public sector. On the other hand the descriptive data and multivariate models show therefore a significant wage premium associated with coverage under public sector councils in 2005, in excess of the large and significant union wage premium. The decline in the bargaining council system in the private sector is accompanied by declining wage premia for formal sector workers covered under private sector bargaining council agreements, with our preferred specification in 2005 indicating no significant private sector bargaining council wage premium.
{"title":"Analysing Wage Formation in the South African Labour Markets: The Role of Bargaining Councils","authors":"H. Bhorat, C. V. D. Westhuizen, Sumayya Goga","doi":"10.2139/SSRN.2184181","DOIUrl":"https://doi.org/10.2139/SSRN.2184181","url":null,"abstract":"The role of bargaining councils, the central pillar of collective bargaining in South Africa, in the formation of wages is important in the context of high unemployment rates in South Africa. In this study we find that while institutionalised collective bargaining system covered substantially more formal sector workers in 2005 (30 percent) compared to 1995 (15 percent), this still meant that less than a third of the formally employed were covered by bargaining councils. Notwithstanding this, the overall rise in the number of workers covered by bargaining council agreements between 1995 and 2005 was driven almost primarily by the introduction of public sector councils. Thus, bargaining council coverage in the first decade of democracy is characterised by an erosion of coverage within the private sector bargaining council system on the one hand and the rapid rise of this system of bargaining in the public sector. On the other hand the descriptive data and multivariate models show therefore a significant wage premium associated with coverage under public sector councils in 2005, in excess of the large and significant union wage premium. The decline in the bargaining council system in the private sector is accompanied by declining wage premia for formal sector workers covered under private sector bargaining council agreements, with our preferred specification in 2005 indicating no significant private sector bargaining council wage premium.","PeriodicalId":206472,"journal":{"name":"INTL: Political & Legal Issues (Topic)","volume":"41 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116613180","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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