Economic Effects of the Government Budget

Elhanan Helpman, Assaf Razin, Professor of Economics Emeritus Assaf Razin, Efraim Sadka, Henry Kaufman Professor of International Capital Markets Efraim Sadka, Tel Aviv University. Pinhas Sapir Center for Development

MIT Press, 1988 - Business & Economics - 355 pages

The effects of a government's budget on society and the political economy are ofconsiderable concern to economists as well as to consumers and taxpayers. The original contributionsin this book analyze all of the budget's components expenditures, revenues, the deficit - with aspecial emphasis on issues that have assumed increasing importance over the last decade or so, suchas intergenerational transfers of debt and declines in corporate tax revenues.Chapters deal withboth microeconomic and macroeconomic aspects of the effects of budgets, and demonstrate howbudgetary policies affect inflation, efficiency, the balance of payments, exchange rates, and thedecision-making process.The contributions are grouped into five sections. The first covers therevenue side of the budget - taxation policy and its interaction with emigration, corporate taxrevenues, personal income taxes, and fiscal policies. The second takes up intergenerationaltransfers, consumption decisions, and Ricardian equivalence and neutrality. Budget deficits andoptimal policies, inflation and its relationship to budget deficits are examined in parts three andfour.The book concludes by looking at stabilization in open economies, and includes treatments ofthe consequences of balance-of-payments crises, exchange rate management under uncertainty, andforeign exchange operations.Elhanan Helpman, Assaf Razin, and Efraim Sadka are professors ofeconomics at Tel-Aviv University.

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Contents

• International Migration and Income Taxation: 13
• Why Have Corporate Tax Revenues Declined?: 33
• RevenueNeutral Changes in Corporate and Personal: 50
• Risk Reducing Fiscal Policies and Economic Growth: 65
• An Analysis of Fiscal Policy under Operative: 91
• Testing Ricardian: 107
• Saving and Permanent Income in Canada: 122
• International Aspects of Budget Deficits with Distortionary: 145
• Optimal TimeConsistent Fiscal Policy with Finite: 163
• Checks and Balances on the Government Budget: 199
• World Inflation Revisited: 217
• Inflation Deficit and Seignorage with Expected: 238
• The Economic Consequences of the Franc Poincare: 257
• Inflation Balance of Payments Crises and Public: 287
• Stabilization with Exchange Rate Management under: 310
• The Irrelevance of Government Foreign Exchange: 328
• Name Index: 347

About the author

Elhanan Helpman is Professor of Economics at Harvard University, the Archie Sherman Chair Professor of International Economic Relations in the Eitan Berglas School of Economics at Tel-Aviv University, and a Fellow at the Canadian Institute for Advanced Research.

Assaf Razin is a former Professor at Cornell University, Emeritus Professor at the Eitan Berglas School of Economics at Tel Aviv University, and Research Fellow at the NBER, CEPR, and CESifo. He is the author of Understanding Global Crises: An Emerging Paradigm and a coauthor of, among other books, The Decline of the Welfare State: Demography and Globalization and Migration and the Welfare State: Political-Economy Policy Formation, all published by the MIT Press. He is the recipient of the 2017 EMET Prize in Economics.

Assaf Razin is a former Professor at Cornell University, Emeritus Professor at the Eitan Berglas School of Economics at Tel Aviv University, and Research Fellow at the NBER, CEPR, and CESifo. He is the author of Understanding Global Crises: An Emerging Paradigm and a coauthor of, among other books, The Decline of the Welfare State: Demography and Globalization and Migration and the Welfare State: Political-Economy Policy Formation, all published by the MIT Press. He is the recipient of the 2017 EMET Prize in Economics.

Efraim Sadka is Henry Kaufman Professor of International Capital Markets at Tel Aviv University.

Efraim Sadka is Henry Kaufman Professor of International Capital Markets at Tel Aviv University.

Bibliographic information

• Title: Economic Effects of the Government Budget; Mit Press
• Editors: Elhanan Helpman, Assaf Razin, Professor of Economics Emeritus Assaf Razin, Efraim Sadka, Henry Kaufman Professor of International Capital Markets Efraim Sadka, Tel Aviv University. Pinhas Sapir Center for Development
• Contributor: Merkaz le-fituaḥ ʻal-shem P. Sapir
• Edition: illustrated
• Publisher: MIT Press, 1988
• ISBN: 026258090X, 9780262580908
• Length: 355 pages
• Subjects: Business & Economics / Economics / General