The Experts below are selected from a list of 327 Experts worldwide ranked by ideXlab platform
Winton Patrik - One of the best experts on this subject based on the ideXlab platform.
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Politics of credit : Government Borrowing, political regimes andstate formation in Sweden, 1760–1830
2020Co-Authors: Winton PatrikAbstract:Politics of credit : Government Borrowing, political regimes andstate formation in Sweden, 1760–1830
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politics of credit Government Borrowing political regimes andstate formation in sweden 1760 1830
A World of Public Debts: A Global Political History, 2017Co-Authors: Winton PatrikAbstract:Politics of credit : Government Borrowing, political regimes andstate formation in Sweden, 1760–1830
Willi Semmler - One of the best experts on this subject based on the ideXlab platform.
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Estimating an Endogenous Growth Model with Public Capital and Government Borrowing: U.S. and Germany 1960–1995
Computational Economics, 2004Co-Authors: Alfred Greiner, Willi Semmler, Gang GongAbstract:The paper presents and estimates an endogenous growth model with publiccapital and Government Borrowing. Government behavior (tax rates, spending andBorrowing) does not follow optimizing rules but is restricted by two fiscalregimes (rules). In the strict fiscal regime Government Borrowing is used forpublic investment only. In the less strict regime it can also be used forpublic investment and to a certain degree for the debt service. The growthrate differs in our model variants according to which rule is adopted.Moreover, the growth maximizing income tax rate is different from zero. Forthe two relevant fiscal regimes, which correspond roughly to the cases of theU.S. and Germany, the model is estimated by employing time series data from1960.4 to 1992.1 and 1966.1 to 1995.1 respectively. The results suggest anexplanation for the different time paths of economic variables in the Americanand German economies in the post-war period.
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Estimating an Endogenous Growth Model with Public Capital and GovernmentBorrowing: U.S. and Germany 1960–1995
Computing in Economics and Finance, 2004Co-Authors: Alfred Greiner, Willi Semmler, Gang GongAbstract:The paper presents and estimates an endogenous growth model with public capital and Government Borrowing. Government behavior (tax rates, spending and Borrowing) does not follow optimizing rules but is restricted by two fiscal regimes (rules). In the strict fiscal regime Government Borrowing is used for public investment only. In the less strict regime it can also be used for public investment and to a certain degree for the debt service. The growth rate differs in our model variants according to which rule is adopted. Moreover, the growth maximizing income tax rate is different from zero. For the two relevant fiscal regimes, which correspond roughly to the cases of the U.S. and Germany, the model is estimated by employing time series data from 1960.4 to 1992.1 and 1966.1 to 1995.1 respectively. The results suggest an explanation for the different time paths of economic variables in the American and German economies in the post-war period.
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an endogenous growth model with public capitaland Government Borrowing
Annals of Operations Research, 1999Co-Authors: Alfred Greiner, Willi SemmlerAbstract:The paper presents an endogenous growth model with public capital. However, in contrastto recent studies on economic growth and fiscal policy, we allow for capital market Borrowingby the Government. Since the behavior by the Government (composition of expenditureand Borrowing) does not follow optimizing rules, we introduce fiscal regimes (rules) whichdefine the behavior of the Government. In strict fiscal regimes, Government Borrowing isused for public investment. In less strict regimes, it can also be used for debt service andpublic investment. In our model variants, Government deficit does not necessarily entail alower growth rate of the economy but the growth effects are different according to whichrules are adopted. Moreover, in our context the growth maximizing income tax rate is differentfrom zero. The model, contingent on the fiscal regime prevailing, can exhibit multipleequilibria and local indeterminacy. Copyright Kluwer Academic Publishers 1999
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an endogenous growth model with public capital and Government Borrowing
1999Co-Authors: Alfred Greiner, Willi SemmlerAbstract:The paper presents an endogenous growth model with public capital. However, in contrast to recent studies on economic growth and fiscal policy, we allow for capital market Borrowing by the Government. Since the behavior by the Government (composition of expenditure and Borrowing) does not follow optimizing rules, we introduce fiscal regimes (rules) which define the behavior of the Government. In strict fiscal regimes, Government Borrowing is used for public investment. In less strict regimes, it can also be used for debt service and public investment. In our model variants, Government deficit does not necessarily entail a lower growth rate of the economy but the growth effects are different according to which rules are adopted. Moreover, in our context the growth maximizing income tax rate is different from zero. The model, contingent on the fiscal regime prevailing, can exhibit multiple equilibria and local indeterminacy.
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estimating an endogenous growth model with public capital and Government Borrowing
1997Co-Authors: Alfred Greiner, Willi SemmlerAbstract:The paper presents and estimates an endogenous growth model with public capital. In contrast, however, to recent studies on economic growth and policy, we allow for capital market Borrowing by the Government. Since the behavior by the Government (tax rates, spending and Borrowing) does not follow optimizing rules, we introduce regimes (rules) which define the behavior of the Government. In strict regimes Government Borrowing is used for public investment. In less strict regimes it can also be used for debt service and public investment. In our model variants Government deficit does not necessarily entail a lower growth rate of the economy but the growth defects are different according to which rules are adopted. Moreover, in our context the growth maximizing income tax rate is different from zero. The model, contingent on the regime prevailing, can exhibit multiple equilibria and local and global indeterminacy. For two relevant regimes which roughly correspond to the cases of the U.S. and Germany the model is estimated by employing time series data from 1952 to 1990. The estimation strategy we propose is similar to the strategy employed to estimate Real Business Cycle (RBC) models. In the present case, as in RBC studies, the model to be estimated is nonlinear in parameters. We employ a GMM estimation using Newey and West (1987) weighting matrices. The estimated structural parameters for the two economies fall into a reasonable range. The results permit us to interpret the contribution of public capital and Government Borrowing to economic growth and the different growth experiences of the American and German economies in the post-war period. Moreover, our methodology allows us to also explore the sustainability of public debt for the U.S. as well as Germany.
Alfred Greiner - One of the best experts on this subject based on the ideXlab platform.
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Estimating an Endogenous Growth Model with Public Capital and Government Borrowing: U.S. and Germany 1960–1995
Computational Economics, 2004Co-Authors: Alfred Greiner, Willi Semmler, Gang GongAbstract:The paper presents and estimates an endogenous growth model with publiccapital and Government Borrowing. Government behavior (tax rates, spending andBorrowing) does not follow optimizing rules but is restricted by two fiscalregimes (rules). In the strict fiscal regime Government Borrowing is used forpublic investment only. In the less strict regime it can also be used forpublic investment and to a certain degree for the debt service. The growthrate differs in our model variants according to which rule is adopted.Moreover, the growth maximizing income tax rate is different from zero. Forthe two relevant fiscal regimes, which correspond roughly to the cases of theU.S. and Germany, the model is estimated by employing time series data from1960.4 to 1992.1 and 1966.1 to 1995.1 respectively. The results suggest anexplanation for the different time paths of economic variables in the Americanand German economies in the post-war period.
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Estimating an Endogenous Growth Model with Public Capital and GovernmentBorrowing: U.S. and Germany 1960–1995
Computing in Economics and Finance, 2004Co-Authors: Alfred Greiner, Willi Semmler, Gang GongAbstract:The paper presents and estimates an endogenous growth model with public capital and Government Borrowing. Government behavior (tax rates, spending and Borrowing) does not follow optimizing rules but is restricted by two fiscal regimes (rules). In the strict fiscal regime Government Borrowing is used for public investment only. In the less strict regime it can also be used for public investment and to a certain degree for the debt service. The growth rate differs in our model variants according to which rule is adopted. Moreover, the growth maximizing income tax rate is different from zero. For the two relevant fiscal regimes, which correspond roughly to the cases of the U.S. and Germany, the model is estimated by employing time series data from 1960.4 to 1992.1 and 1966.1 to 1995.1 respectively. The results suggest an explanation for the different time paths of economic variables in the American and German economies in the post-war period.
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an endogenous growth model with public capitaland Government Borrowing
Annals of Operations Research, 1999Co-Authors: Alfred Greiner, Willi SemmlerAbstract:The paper presents an endogenous growth model with public capital. However, in contrastto recent studies on economic growth and fiscal policy, we allow for capital market Borrowingby the Government. Since the behavior by the Government (composition of expenditureand Borrowing) does not follow optimizing rules, we introduce fiscal regimes (rules) whichdefine the behavior of the Government. In strict fiscal regimes, Government Borrowing isused for public investment. In less strict regimes, it can also be used for debt service andpublic investment. In our model variants, Government deficit does not necessarily entail alower growth rate of the economy but the growth effects are different according to whichrules are adopted. Moreover, in our context the growth maximizing income tax rate is differentfrom zero. The model, contingent on the fiscal regime prevailing, can exhibit multipleequilibria and local indeterminacy. Copyright Kluwer Academic Publishers 1999
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an endogenous growth model with public capital and Government Borrowing
1999Co-Authors: Alfred Greiner, Willi SemmlerAbstract:The paper presents an endogenous growth model with public capital. However, in contrast to recent studies on economic growth and fiscal policy, we allow for capital market Borrowing by the Government. Since the behavior by the Government (composition of expenditure and Borrowing) does not follow optimizing rules, we introduce fiscal regimes (rules) which define the behavior of the Government. In strict fiscal regimes, Government Borrowing is used for public investment. In less strict regimes, it can also be used for debt service and public investment. In our model variants, Government deficit does not necessarily entail a lower growth rate of the economy but the growth effects are different according to which rules are adopted. Moreover, in our context the growth maximizing income tax rate is different from zero. The model, contingent on the fiscal regime prevailing, can exhibit multiple equilibria and local indeterminacy.
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estimating an endogenous growth model with public capital and Government Borrowing
1997Co-Authors: Alfred Greiner, Willi SemmlerAbstract:The paper presents and estimates an endogenous growth model with public capital. In contrast, however, to recent studies on economic growth and policy, we allow for capital market Borrowing by the Government. Since the behavior by the Government (tax rates, spending and Borrowing) does not follow optimizing rules, we introduce regimes (rules) which define the behavior of the Government. In strict regimes Government Borrowing is used for public investment. In less strict regimes it can also be used for debt service and public investment. In our model variants Government deficit does not necessarily entail a lower growth rate of the economy but the growth defects are different according to which rules are adopted. Moreover, in our context the growth maximizing income tax rate is different from zero. The model, contingent on the regime prevailing, can exhibit multiple equilibria and local and global indeterminacy. For two relevant regimes which roughly correspond to the cases of the U.S. and Germany the model is estimated by employing time series data from 1952 to 1990. The estimation strategy we propose is similar to the strategy employed to estimate Real Business Cycle (RBC) models. In the present case, as in RBC studies, the model to be estimated is nonlinear in parameters. We employ a GMM estimation using Newey and West (1987) weighting matrices. The estimated structural parameters for the two economies fall into a reasonable range. The results permit us to interpret the contribution of public capital and Government Borrowing to economic growth and the different growth experiences of the American and German economies in the post-war period. Moreover, our methodology allows us to also explore the sustainability of public debt for the U.S. as well as Germany.
Judy A Temple - One of the best experts on this subject based on the ideXlab platform.
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limitations on state and local Government Borrowing for private purposes
National Tax Journal, 1993Co-Authors: Judy A TempleAbstract:Provides an economic explanation for the variation across states in the use of tax-exempt state and local Government bonds to finance private investment.
Fredrik Carlsen - One of the best experts on this subject based on the ideXlab platform.
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central regulation of local Government Borrowing a game theoretical approach
Environment and Planning C-government and Policy, 1994Co-Authors: Fredrik CarlsenAbstract:In this paper the author considers whether central authorities should regulate local sector Borrowing. Local Government's debt policy is modeled as the outcome of a two-period game between three agents: Central Government, local Government, and a bureau which produces services on behalf of local Government. A key assumption of the model is that neither central nor local Government is able to undertake long-term budget commitments. Two rationales are found for central regulations. First, local Government is prevented from using deficits strategically to extract higher grants from central authorities. Second, the debt limit gives credibility to local Government's budget policy towards the bureau.
