This article gives a narrative account of the main standard and nonstandard public-debt management tactics that euro-area governments applied during the sovereign-debt crisis. To secure market liquidity, they inter alia targeted public-debt supply more at residents and often also sought to create a captive domestic demand for sovereign bonds. Where fiscal solvency was impaired, they arranged a "voluntary" debt restructuring, pressed official creditors for debt forgiveness, or considered imposing a haircut on official-sector claims. This cross-country analysis indicates the return of financial repression as fiscal insurance against government funding stress and a public-debt overhang.
{"title":"Managing High Public Debt in Euro-Area Countries: Financial Repression as Fiscal Insurance?","authors":"A. V. Riet","doi":"10.1628/fa-2019-0016","DOIUrl":"https://doi.org/10.1628/fa-2019-0016","url":null,"abstract":"This article gives a narrative account of the main standard and nonstandard public-debt management tactics that euro-area governments applied during the sovereign-debt crisis. To secure market liquidity, they inter alia targeted public-debt supply more at residents and often also sought to create a captive domestic demand for sovereign bonds. Where fiscal solvency was impaired, they arranged a \"voluntary\" debt restructuring, pressed official creditors for debt forgiveness, or considered imposing a haircut on official-sector claims. This cross-country analysis indicates the return of financial repression as fiscal insurance against government funding stress and a public-debt overhang.","PeriodicalId":45063,"journal":{"name":"Finanzarchiv","volume":"379 1","pages":"57"},"PeriodicalIF":0.5,"publicationDate":"2020-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"81230818","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Bring Out the Steamrollers – It's Election Year Again!","authors":"Jonas Klarin","doi":"10.1628/fa-2019-0012","DOIUrl":"https://doi.org/10.1628/fa-2019-0012","url":null,"abstract":"","PeriodicalId":45063,"journal":{"name":"Finanzarchiv","volume":"29 1","pages":"29"},"PeriodicalIF":0.5,"publicationDate":"2020-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"87075334","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
A large literature in empirical public finance applies time-series techniques to historical data and draws inference about public debt sustainability of individual countries. These methods include unit-root tests on primary deficits and cointegration between revenue and expenditure, as well as fiscal reaction functions. In this note, we take a systematic approach to evaluating the in- and out-of-sample performance of various methods in predicting sovereign debt crises. In a panel-logit regression analysis for 31 countries, we find that the benefits for forecasting are surprisingly small.
{"title":"Are Debt Sustainability Indicators Based on Time-Series Data Useful for Predicting Crises?","authors":"K. Mersmann, F. Westermann","doi":"10.1628/fa-2020-0002","DOIUrl":"https://doi.org/10.1628/fa-2020-0002","url":null,"abstract":"A large literature in empirical public finance applies time-series techniques to historical data and draws inference about public debt sustainability of individual countries. These methods include unit-root tests on primary deficits and cointegration between revenue and expenditure, as well as fiscal reaction functions. In this note, we take a systematic approach to evaluating the in- and out-of-sample performance of various methods in predicting sovereign debt crises. In a panel-logit regression analysis for 31 countries, we find that the benefits for forecasting are surprisingly small.","PeriodicalId":45063,"journal":{"name":"Finanzarchiv","volume":"57 1","pages":"146-164"},"PeriodicalIF":0.5,"publicationDate":"2020-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"80341118","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Diversity and inclusion have proven vital for increasing innovation, success, and performance in a myriad of fields; however, as with many other scientific disciplines, forensic anthropology’s history and lack of critical self-assessment have resulted in impediments to fostering a diverse and inclusive environment. Therefore, the field should reflect on its current membership and culture and devise strategies to address deficiencies. To begin evaluating the current state of diversity and inclusion in forensic anthropology, a survey was distributed to Anthropology Section members of the American Academy of Forensic Sciences (AAFS) in 2018. A total of 211 students and professionals responded, and 32.4% self-identified as a member of an underrepresented group. The results indicate that 63.4% believe that forensic anthropology exhibits little diversity; that 73.4% consider this lack of diversity problematic; and that 84.3% believe the Anthropology Section should do more to recruit and retain diverse forensic anthropologists. Heterogeneity is perceived to be the greatest at the undergraduate level, with diversity decreasing in vertical movement through graduate, postdoctoral, and/or professional statuses. Moreover, the results suggest that discrimination and exclusion have a negative effect on our community, as they may lead to attrition of those with diverse backgrounds and perspectives. We propose actions that may help to mitigate the negative effects of meritocracy, discrimination/harassment, and exclusion to evolve toward a culture of diversity. These include regularly tracking demographic information on AAFS membership, reassessing graduate admissions requirements and indicators of success, creating mechanisms for reporting discrimination/harassment, implementing targeted outreach, and developing mentorship opportunities.
{"title":"Diversity and Inclusion in Forensic Anthropology","authors":"S. Tallman, Cate E. Bird","doi":"10.5744/fa.2020.3001","DOIUrl":"https://doi.org/10.5744/fa.2020.3001","url":null,"abstract":"Diversity and inclusion have proven vital for increasing innovation, success, and performance in a myriad of fields; however, as with many other scientific disciplines, forensic anthropology’s history and lack of critical self-assessment have resulted in impediments to fostering a diverse and inclusive environment. Therefore, the field should reflect on its current membership and culture and devise strategies to address deficiencies. To begin evaluating the current state of diversity and inclusion in forensic anthropology, a survey was distributed to Anthropology Section members of the American Academy of Forensic Sciences (AAFS) in 2018. A total of 211 students and professionals responded, and 32.4% self-identified as a member of an underrepresented group. The results indicate that 63.4% believe that forensic anthropology exhibits little diversity; that 73.4% consider this lack of diversity problematic; and that 84.3% believe the Anthropology Section should do more to recruit and retain diverse forensic anthropologists. Heterogeneity is perceived to be the greatest at the undergraduate level, with diversity decreasing in vertical movement through graduate, postdoctoral, and/or professional statuses. Moreover, the results suggest that discrimination and exclusion have a negative effect on our community, as they may lead to attrition of those with diverse backgrounds and perspectives. We propose actions that may help to mitigate the negative effects of meritocracy, discrimination/harassment, and exclusion to evolve toward a culture of diversity. These include regularly tracking demographic information on AAFS membership, reassessing graduate admissions requirements and indicators of success, creating mechanisms for reporting discrimination/harassment, implementing targeted outreach, and developing mentorship opportunities.","PeriodicalId":45063,"journal":{"name":"Finanzarchiv","volume":"76 1","pages":""},"PeriodicalIF":0.5,"publicationDate":"2020-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"75712674","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
We use panel cointegration techniques to estimate the long-run user cost elasticity of capital (UCE) in a small open economy. The estimates exploit three sources of variation in Canadian tax policy: across provinces, industries, and years. The UCE is estimated to be between -1.1 and -1.3 for machinery and equipment. We also provide semi-elasticities of capital with respect to marginal effective tax rates (METR). Our construction of the user costs makes use of a detailed data set on federal and provincial tax policy variables.
{"title":"Tax Elasticity Estimates for Capital Stocks","authors":"Fatih Yılmaz, Jean-François Wen","doi":"10.1628/FA-2020-0007","DOIUrl":"https://doi.org/10.1628/FA-2020-0007","url":null,"abstract":"We use panel cointegration techniques to estimate the long-run user cost elasticity of capital (UCE) in a small open economy. The estimates exploit three sources of variation in Canadian tax policy: across provinces, industries, and years. The UCE is estimated to be between -1.1 and -1.3 for machinery and equipment. We also provide semi-elasticities of capital with respect to marginal effective tax rates (METR). Our construction of the user costs makes use of a detailed data set on federal and provincial tax policy variables.","PeriodicalId":45063,"journal":{"name":"Finanzarchiv","volume":"88 1","pages":"1-25"},"PeriodicalIF":0.5,"publicationDate":"2020-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"73681118","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Does the Bomb-crater Effect Really Exist? Evidence from the Laboratory","authors":"M. Kasper, J. Alm","doi":"10.1628/fa-2021-0014","DOIUrl":"https://doi.org/10.1628/fa-2021-0014","url":null,"abstract":"","PeriodicalId":45063,"journal":{"name":"Finanzarchiv","volume":"11 1","pages":""},"PeriodicalIF":0.5,"publicationDate":"2020-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"90506846","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This study investigates the efficiency of the process of benefit determination for welfare recipients in Germany. A stochastic frontier analysis is used to compute (in)efficiency of Jobcenter (employment offices) in terms of average processing time used for determining benefit levels per case. Next, the quality of the process of welfare benefits determination is considered by analyzing the share of upheld opposition because of misapplication of the laws. No effect of the (in)efficiency term on quality is estimated such that the quality of decision is unrelated to the time input. Manning of the employment offices seems to be to a large extent determined by other factors than a fair allocation of scarce resources in relation to demand for them. However in the case of treatment of one particular group (newly registered unemployed) and one organizational measure (offices that arrange specific appointments) a trade-off is estimated. Moreover, better skilled employees need less time for servicing cases and produce less erroneous decision.
{"title":"(In)Efficiency of Employment Offices: Is there a Trade-off between Time Saving Case Management and Quality of Welfare Benefit Determination?","authors":"Katharina Dyballa, Kornelius Kraft","doi":"10.1628/FA-2021-0005","DOIUrl":"https://doi.org/10.1628/FA-2021-0005","url":null,"abstract":"This study investigates the efficiency of the process of benefit determination for welfare recipients in Germany. A stochastic frontier analysis is used to compute (in)efficiency of Jobcenter (employment offices) in terms of average processing time used for determining benefit levels per case. Next, the quality of the process of welfare benefits determination is considered by analyzing the share of upheld opposition because of misapplication of the laws. No effect of the (in)efficiency term on quality is estimated such that the quality of decision is unrelated to the time input. Manning of the employment offices seems to be to a large extent determined by other factors than a fair allocation of scarce resources in relation to demand for them. However in the case of treatment of one particular group (newly registered unemployed) and one organizational measure (offices that arrange specific appointments) a trade-off is estimated. Moreover, better skilled employees need less time for servicing cases and produce less erroneous decision.","PeriodicalId":45063,"journal":{"name":"Finanzarchiv","volume":"25 1","pages":""},"PeriodicalIF":0.5,"publicationDate":"2020-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"89576191","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
A. Winburn, Antaya Jennings, D. Steadman, E. DiGangi
African Americans comprise approximately 13% of the U.S. population, 26% of missing persons, and 51% of homicide victims (Kochanek et al. 2019; National Crime Information Center [NCIC] 2018; U.S. Census Bureau 2010). However, African American remains are underrepresented in the documented skeletal samples resulting from body donations to U.S. taphonomic research facilities. If forensic anthropologists are to rise to the challenge of identifying remains from this segment of the U.S. population, and if heritable differences among human populations are to be distinguished from the embodied differences acquired by marginalized individuals, a deeper understanding of African American skeletal biology is essential. This understanding is contingent on Black donors participating in whole-body donation to anthropological research facilities—participation that may be undermined by a legacy of mistrust between Black communities and the traditionally White-dominated scientific and medical establishments. This review paper synthesizes data from medical research on cadaver and organ donation, as well as anthropological literature on structural violence, embodiment, and the collection and curation of human remains, to present multiple perspectives on increasing African American body donation to anthropological research. We focus on historical, structural, and cultural factors potentially contributing to Black donor reluctance, providing a perspective often lacking in discussions of skeletal curation. We aim to generate debate and discussion within the field of forensic anthropology and among community stakeholders about how skeletal research can better serve Black communities.
非洲裔美国人约占美国人口的13%，占失踪人口的26%，占凶杀案受害者的51% (Kochanek et al. 2019;国家犯罪信息中心[NCIC] 2018;美国人口普查局2010)。然而，非裔美国人的遗骸在被捐赠给美国人种学研究机构的有记录的骨骼样本中代表性不足。如果法医人类学家要迎接识别这部分美国人口遗骸的挑战，如果要将人类群体之间的遗传差异与边缘化个体获得的具体差异区分开来，那么对非裔美国人骨骼生物学的更深入了解是必不可少的。这种理解取决于黑人捐赠者是否愿意将全身捐献给人类学研究机构，而黑人社区与传统上白人主导的科学和医疗机构之间的不信任可能会削弱这种参与。本文综合了关于尸体和器官捐赠的医学研究数据，以及关于结构性暴力、具身化和人类遗骸收集和管理的人类学文献，从多个角度阐述了增加非裔美国人遗体捐赠对人类学研究的影响。我们关注历史、结构和文化因素，这些因素可能导致黑人捐赠者不愿捐赠，提供了一个在骨骼策展讨论中经常缺乏的视角。我们的目标是在法医人类学领域和社区利益相关者之间就骨骼研究如何更好地为黑人社区服务产生辩论和讨论。
{"title":"Ancestral Diversity in Skeletal Collections: Perspectives on African American Body Donation","authors":"A. Winburn, Antaya Jennings, D. Steadman, E. DiGangi","doi":"10.5744/fa.2020.1023","DOIUrl":"https://doi.org/10.5744/fa.2020.1023","url":null,"abstract":"African Americans comprise approximately 13% of the U.S. population, 26% of missing persons, and 51% of homicide victims (Kochanek et al. 2019; National Crime Information Center [NCIC] 2018; U.S. Census Bureau 2010). However, African American remains are underrepresented in the documented skeletal samples resulting from body donations to U.S. taphonomic research facilities. If forensic anthropologists are to rise to the challenge of identifying remains from this segment of the U.S. population, and if heritable differences among human populations are to be distinguished from the embodied differences acquired by marginalized individuals, a deeper understanding of African American skeletal biology is essential. This understanding is contingent on Black donors participating in whole-body donation to anthropological research facilities—participation that may be undermined by a legacy of mistrust between Black communities and the traditionally White-dominated scientific and medical establishments. This review paper synthesizes data from medical research on cadaver and organ donation, as well as anthropological literature on structural violence, embodiment, and the collection and curation of human remains, to present multiple perspectives on increasing African American body donation to anthropological research. We focus on historical, structural, and cultural factors potentially contributing to Black donor reluctance, providing a perspective often lacking in discussions of skeletal curation. We aim to generate debate and discussion within the field of forensic anthropology and among community stakeholders about how skeletal research can better serve Black communities.","PeriodicalId":45063,"journal":{"name":"Finanzarchiv","volume":"17 1","pages":""},"PeriodicalIF":0.5,"publicationDate":"2020-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"81870045","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Income Inequality, Government's Redistributive Preferences, and the Extent of Redistribution","authors":"Hannu Tanninen, Matti Tuomala, Elina Tuominen","doi":"10.1628/FA-2021-0007","DOIUrl":"https://doi.org/10.1628/FA-2021-0007","url":null,"abstract":"","PeriodicalId":45063,"journal":{"name":"Finanzarchiv","volume":"18 1","pages":"1"},"PeriodicalIF":0.5,"publicationDate":"2020-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"79607240","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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