Public Economics Commons^™

Fiscal Support For India’S Liberalisation - Is It Adequate?, Shyamal Roy

IIMB Management Review

For assessing fiscal policy support to India's economic liberalisation process, the quality of fiscal management is far more important than just monitoring the aggregates. Going by this framework of analysis, government expenditure and borrowing patterns have had a negative impact on the liberalisation process. In fact, the fiscal management of the economy over the years was so complete that it left little room for manoeuvrability in the fiscal variables in the budget 1998-99. Shyamal Roy examines budget 1998-99 and finds that though it may fail to achieve the fiscal targets, it does contain some ideas which if pursued vigorously can …

Low Inflation: The Surprise Of The 1990s, Dean D. Croushore

Economics Faculty Publications

For most of the 1990s, forecasters have been predicting an upturn in inflation. Yet, over that same period, the United States has experienced stable or declining inflation. Why have forecasts been at odds with reality? And why does it matter? In this article, Dean Croushore considers some answers to these questions and explains why inflation is the economic surprise of the decade.

Curbing Urban Traffic Congestion In Singapore: A Comprehensive Review, Rex S. Toh, Sock-Yong Phang

Research Collection School Of Economics

One of the most pervasive and frustrating of modern transportation problems is urban traffic congestion. Since 1975, Singapore has introduced a relentless series of traditional and experimental measures to slow down the growth of the motor vehicle population and to control its usage. While some of the measures have been somewhat successful, some of the problems were shifted or were substituted. The Area Licensing Scheme led to a shifting of the problem in time and place while the quota system has substituted uncertainty in quantity with uncertainty in price. Furthermore, the Preferential Additional Registration Fee system and the Quota System …

From Manual To Electronic Road Congestion Pricing: The Singapore Experience And Experiment, Sock-Yong Phang, Rex S. Toh

Research Collection School Of Economics

This study reviews the efforts of Singapore to curb road congestion through restraints on motor vehicle ownership as well as user fees. In particular, it traces the history of the famous Area Licensing Scheme (ALS), and then discusses its shortcomings, also the need for Electronic Road Pricing (ERP), its advantages and disadvantages and the technology involved in this state of the art system. This paper identifies important research questions to be addressed in connection with the first full-scale adoption of ERP.

Michigan State Government Employment Sector: Are We In Line With The National Trends?, Thomas Walter Cronkright Ii

Honors Theses

Examines the national trends of employment to make a comparison for Michigan State government employment. Results show that Michigan's public employment trends do not follow national employment trends in a comparable way. Michigan is distinct from the nation for several reasons: a hiring freeze placed on Michigan State Departments, higher levels of union participation and employee pay, and benefits packages that cost more than the Executive Branch of the U.S. government. Thus, either Michigan provides superior benefits or it pays a premium for those benefits. Suggests further research is needed.

The Livingston Survey: Still Useful After All These Years, Dean D. Croushore

Economics Faculty Publications

The decisions of households, firms, and government agencies depend on forecasts of the overall economy. Large firms and the federal government often have the resources to hire their own economists to provide forecasts. But households, small firms, and local governments often depend on surveys of forecasters to get their information. In this article, Dean Croushore spotlights the Livingston Survey, which, even after 50 years, still provides useful forecasts of the economy.

Medicaid Forecasting Practices, Dan Williams

Publications and Research

This paper examines forecasting activities among Medicaid agencies in the fifty United States, Washington, D.C., and five U.S. territories (American Samoa, Guam, Puerto Rico, Northern Mariana Islands, and Virgin Islands). Most frequently, studies of state or local forecasting practice focus on revenue forecasting. There are several reasons why comparison of state Medicaid forecast practice may be better than comparison of state revenue forecasting practices. First, there is no consistent reporting of state revenue estimates. States make forecasts when it suits them and report them in a manner that is satisfactory to their governors or legislatures. Collection of data through national …

Russia's Economic Stability: Recent Evidence And Policy Implications, Lucjan T. Orlowski

WCBT Faculty Publications

No abstract provided.

Singapore's Experience With Car Quotas: Issues And Policy Processes, Sock-Yong Phang, Wing-Keung Wong, Ngee-Choon Chia

Research Collection School Of Economics

This paper examines the policy processes behind Singapore's car quotas. The policy, when filtered through the market mechanism, had a number of unintended consequences. The public's unhappiness with certain features and [`]loopholes' of the system resulted in many changes to the rules. The effects of recent measures to curb speculation on quota premiums are evaluated. Problems with Singapore's Weekend Car Scheme are also discussed. The lesson for transport policy makers elsewhere is that in attempting to deal with the road congestion problem through car ownership policies, an asset market for vehicles should be taken into account.

National Economic Development Planning: Review Of Nigeria's Performance And Future Prospect, A. P. Awoseyila

CBN Occasional Papers

This paper took a global view of development planning as operational tool for rapid economic growth and social advancement. It reviewed Nigeria's planning experience which achieved varied degrees of successes especially in the areas of education, social and economic infrastructure. It also noted that achievement levels for all the successive plans were generally below expectations. In order to improve on plan performance and turn the economy around, the paper suggested, the need for quickening the process of preparation and launching of a perspective plan for the country; setting up of central planning agencies at the State and. Local Government levels …

Inflation Forecasts: How Good Are They?, Dean D. Croushore

Economics Faculty Publications

Forecasts of inflation affect decision-making in many segments of the economy. But in the early 1980s, economists found that forecasts in surveys taken over the past 20 years systematically underpredicted inflation. As a result, many economists stopped paying attention to forecasts. However, they may have abandoned them too quickly. In this article, Dean Croushore takes a closer look at survey forecasts and, after considering some relevant factors, concludes that inflation forecasts may not be as bad as you think.

Social Safety Nets In Central Europe: Preparation For Accession To The European Union?, Lucjan Orlowski

WCBT Faculty Publications

Examines policy solutions aimed at reducing unemployment and at improving the pension and other social security systems in Central European countries. Reformulation of social safety nets and income transfers in preparation for accession to the European Union; Delay of structural adjustment; Prolongation of high unemployment; Inclusion of other elements not included in the existing programs.

The Balanced Budget Amendment: A Time Bomb To Subvert American Prosperity, Hyman P. Minsky Ph.D.

Hyman P. Minsky Archive

Paper dated Feb. 13, 1995.

Summary of a Report: ’A Time Bomb to Subvert American Prosperity’.

Intergovernmental Fiscal Policy In California: The 1993 Property Tax Shift, Lynndee Ann Kemmet

Theses Digitization Project

No abstract provided.

Introducing: The Survey Of Professional Forecasters, Dean D. Croushore

Economics Faculty Publications

Forecasts play a crucial role in the economy. Businesses won't hire workers as readily if they think the economy may go into a recession soon. Long-term interest rates will rise if people in the financial markets expect inflation to increase. And firms are less likely to borrow money for new investment spending today if they think interest rates will soon decline.

Forecasts are important for many decisions, but not many people have the knowledge and experience to forecast economic variables well. It makes sense, therefore, for people to rely on the forecasts of experts. One easy way to get these …

A Test Of The Theory Of Optimal Taxation For The United States, 1869-1989, Gregory Hess

CMC Faculty Publications and Research

A popular theory of optimal tax policies suggests that tax rates should follow a random walk. This paper extends the existing empirical literature in three ways. First, the impact on the marginal utility of consumption when the government chooses a tax plan to smooth the distorting impact of taxes is considered. Second, exogenous changes in the real rate of interest are incorporated into the government's optimal tax plan. Finally, the tax elasticity of output is not constant over time. Allowing for these changes, there is evidence that the government discounts the future, attempts to smooth the distorting impact of taxes …

Socially Efficient Control Of Carcinogen Emissions From Open Top Vapor Cleaners In Lndiana, Robert S. Main

Scholarship and Professional Work - Business

Robert Main's contribution to the Indiana Academy of the Social Sciences Proceedings, 1995.

New Economic Policy And Public Enterprises, R K Mishra, R Nandagopal

IIMB Management Review

Encouraged by the sweeping economic reforms taking place around the world and compelled by its structural economic distortions, India is charting out a new path for its economic development. The country is evolving a New Economic policy (NEP)-to break the vicious circle Of poverty, inequity,unemployment, and slow rate of economic growth. NEP spells out package of reformatory measures in respect of Public Enterprises (PEs) contained in a series of pronouncements incorporated in Budget Documents and Economic Survey for 1991—92 and 1992—93, Industrial policy Reselution Of July 1991, and Letter on Development Policy from the Union Finance Ministe to the World …

Privatisation, Prasanna Chandra

IIMB Management Review

The privatisation programmes of various countries have been motivated primarily by a desire to improve efficiency, generate resources, and promote popular capitalism. It has worked reasonably well in countries with well-developed capital markets. There are several models of privatisation with certain costs and benefits associated with them. Meaningful privatisation in India calls for phasing it over a period of time in a well thought out manner and the same has been dealt in detail in this paper.

Reconstituting The Financial Structure: The United States, Hyman P. Minsky Ph.D.

Hyman P. Minsky Archive

This is a paper originally prepared for a Conference on "‘Issues on Banking Structure and Competition in a Changing World,"held at the Hotel Ramada Renaissance, Antalya Turkey, Sept. 18-20, 1991.

The main download here is the revision dated 13 May 1992.

Also included here are:

The paper with handwritten notes;

A Preliminary version of the paper;

A handwritten copy;

Comments on the paper prepared by Deniz Gökçe;

A schedule for the Conference;

A second copy of the May revision that was on a separate computer disk in Minsky's papers.

What Are The Costs Of Disinflation?, Dean D. Croushore

Economics Faculty Publications

The Federal Reserve can use monetary policy to reduce the inflation rate, a process known as disinflation. Are the benefits of disinflation worth the costs? Proponents of disinflation argue that the long-run benefits of price stability, including lower interest rates, increased economic efficiency, and perhaps faster economic growth, greatly exceed the short-run costs. Opponents, of course, claim the opposite, usually arguing that the short-run costs in terms of higher unemployment and lost output would be immense.

Social Wage Notes, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes.

• Soc. wage: Discussing social spending, the concept of the welfare state, and transfers between classes [Handwritten notes for Economics 205]. Shaikh, A. (1992, March 17). Unpublished manuscript.

• On the “social wage”: Discussing post-war capitalism, expansion of the state role, and transfer payments to labor, including a table on sources of workers’ consumption from 1947–1977 and critiques of Bowles and Gintis [Paper]. Shaikh, A. (1984, May). Unpublished manuscript.

• My data, social wage: Comparing labor taxes and social consumption for 1952, 1961, and 1970 [Table]. Shaikh, A. (n.d.). Unpublished manuscript.

• The estimation procedure of net …

Social Cost-Benefit Analysis For Egyptian Free Zones, Doha Mounir A H Youssef

Archived Theses and Dissertations

No abstract provided.

Public Enterprises: Toward A White Paper Edited By Y. Venugopal Reddy, T. Koteswara Rao And R.K. Mishra, Hyderabad: Institute Of Public Enterprise, 1990., S Shivaramu

IIMB Management Review

No abstract provided.

Defense Cuts: What Might Connecticut Expect On The Manufacturing Employment Front?, Bruce D. Wundt

New England Journal of Public Policy

Connecticut has enjoyed considerable economic prosperity as a result of its reliance on the defense industry. However, as a consequence of reductions in federal spending on defense, this favorable trend of many years is reversing, unfortunately, while the region is also experiencing a general economic slowdown. Many Connecticut industries must prepare for a new era of reducing their dependence on defense contracts and diversify into new markets and products. State policymakers can help during these uncertain times by encouraging private and public retraining of labor resources and the expansion of industries that will promote economic stability.

Adjustment Issues In Nigeria: Problems And Prospects, J. K. A. Olekah

Bullion

This paper examines adjustment issues in Nigeria, with emphasis on identifying outstanding and emerging problems after SAP, ln achieving the above objective, the paper is divided into three ports as follows: Part I, discusses the main economic problems three years of Pre-SAP as well as analysing trends in major economic indicators and the factors underlying the trend, The main element and policy strategies of SAP are also examined in this part. Part ll analyses, three years of post-SAP with the view to highlighting outstanding and anticipated problems while Port lll is the prospects and concluding summary.

The President's Address To The Chief Executives Of The Organised Private Sector On The 1991 Budget And Other Related Matters, Ibrahim Badamasi Babangida

Bullion

This was an address delivered by the formal President of Nigeria, His Excellency, Major General Ibrahim Badamasi Babangida. He addresses economic and financial related matters.

Municipal Capital Maintenance And Fiscal Distress, Mary K. Bumgarner, Jorge Martinez-Vazques, David L. Sjoquist

Faculty Articles

This paper formalizes and empirically tests the hypothesis that the deficient maintenance of public infrastructure is caused by fiscal distress. We utilize a production-decision framework in which public officials combine maintenance and new capital to produce a desired level of capital services. The behavior implied in the fiscal distress hypothesis is treated as perverse deviations from the optimal production path. The empirical findings from cross-sectional expenditures data give support to the fiscal distress hypothesis.

Social Wage Us Paper, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Shaikh, A., PhD., & Tonak, E. A. (1987). The welfare state and the myth of the social wage. In The imperiled economy, Book I: Macroeconomics from a left perspective. Publisher details not identified.

• Shaikh, A., PhD. (1989, September 11). Revisions for OECD studies [Handwritten notes]. Unpublished manuscript.

• Shaikh, A., PhD. (1989, September 13). Revisions to Shaikh/Tonak paper [Handwritten notes]. Unpublished manuscript.

• Shaikh, A., PhD. (1989, September 11). Country studies [Handwritten notes]. Unpublished manuscript.

• Shaikh, A., PhD. (n.d.). Labor benefit, tax rates, unemployment rate, and real wages [Printed graphs]. Unpublished manuscript.

• Shaikh, A., PhD. (1989, December 22). Social …

  ---

  Go to article

Inflation Budget Deficits, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes.

• Gowland, D. (1991). Debt management and government finance. In Money, inflation and unemployment: The role of money in the economy (2nd ed.). New York, NY: Harvester Wheatsheaf.

• Congdon, T. G. (1987). The link between budget deficits and inflation: Some contrasts between developed and developing countries. In M. J. Boskin, J. S. Flemming, & S. Gorini (Eds.), Private saving and public debt (pp. 40–71). Oxford, England: Basil Blackwell.

• Boskin, M. J., Flemming, J. S., & Gorini, S. (Eds.). (1987). Private saving and public debt [Book front matter: title pages, table of contents, and preface]. Oxford, …