It is well-established that government spending in developing countries has often been procyclical. In other words, government spending has increased in good times and contracted in bad times, thus exacerbating the underlying business cycle. The inability to save in good times to build a war chest for bad times has often led to wrenching financial and sovereign-debt crises.
Carlos A. Vegh , Guillermo Vuletin, 1 October 2013
Advertising and consumer prices
Ferdinand Rauch, 13 November 2012
There is an old debate in economic theory, which goes back at least to Marshall (1919), about whether advertising increases or decreases the prices of consumer goods. Some have argued that advertising provides information to consumers, such as information on prices or the existence of products (for example Butters 1977 or Stahl 1989).
Socioeconomic differences in the impact of smoking tobacco and alcohol prices on smoking in India
Emmanuel Guindon, Arindam Nandi, Frank J Chaloupka, Prabhat Jha, 23 December 2011
“Sugar, rum, and tobacco, are commodities which are no where necessaries of life, which are become objects of almost universal consumption, and which are therefore extremely proper subjects of taxation”
—Adam Smith, The Wealth of Nations, 1776.
Taxation and international migration of superstars: Evidence from the European football market
Emmanuel Saez, Henrik Kleven, Camille Landais, 6 January 2011
This month news stories are coming thick and fast of footballers moving clubs during the European transfer window. The latest gossip suggests that David Beckham could be making an emotional return to English football. Could this movement of supposedly highly skilled and certainly highly paid individuals tell us something about the influence of taxes on international labour mobility?
The timing of fiscal interventions: Don’t do tomorrow what you can do today
Morten O. Ravn , Karel Mertens, 26 August 2009
The current macroeconomic downturn has sparked repeated calls for fiscal stimuli to combat the ensuing decline in activity and labour market conditions (e.g.
Taxing gambling: Some precedents
Nicholas Tosney, 5 May 2008
Today, the notion that Britain is in danger of becoming, or has become, a ”nation of gamblers” is commonplace. In fact, the chairman of the UK government’s recently established Gambling Commission has said that “we are a nation of gamblers”.
Tax competition tames big government
Marius Brülhart, Mario Jametti, 2 November 2007
Is tax competition good or bad for the well-being of society?
The uncertain future of inheritance taxation
Graziella Bertocchi, 15 July 2007
One of Sarkozy’s electoral promises to the French people during his recent electoral campaign has been a drastic reduction of the inheritance tax. In a country where a wealth tax on large fortunes has been introduced as recently as 1989, this has undoubtedly been perceived as a substantial break with the past.
Tax-free extra hours worked: not such a bad idea, after all
Charles Wyplosz, 20 June 2007
As a candidate, Sarkozy promised to reform labour markets. His first move concerns the infamous 35-hour workweek – no surprise there. The shorter workweek was introduced by the socialist government of Jospin with the explicit aim of sharing work to increase employment. It followed on earlier moves under President Mitterrand in the 1980s and under President Chirac in the 1990s.
- A tale of two depressions: What do the new data tell us? February 2010 updateEichengreen, O’Rourke
- The ECB’s stealth bailoutSinn
- Educated in America: College graduates and high school dropoutsHeckman, LaFontaine
- Eurozone breakup would trigger the mother of all financial crisesEichengreen
- Panic-driven austerity in the Eurozone and its implicationsDe Grauwe, Ji
DellaVigna, Durante, Knight, La Ferrara
Ostry, Berg, Tsangarides
Allen, Eichengreen, Evans
Greenwood, Guner, Kocharakov, Santos
CEPR Policy Research
- The buyer margins of firms' exportsCarballo, Ottaviano, Volpe
- Commodity and Equity Markets: Some Stylized Facts from a Copula ApproachDelatte, Lopez
- Ethnic Unemployment Rates and Frictional MarketsGobillon, Rupert, Wasmer
- Finance and Poverty: Evidence from IndiaAyyagari, Beck, Hoseini
- The Manipulation of Basel Risk-WeightsMariathasan, Merrouche
- Making city lights shine brighterYusuf, Leipziger
- The euro in the 'currency war'Bénassy-Quéré, Martin
- The roots of shadow bankingPerotti
- What’s wrong with Europe?Baldini, Manasse
- How the EZ crisis is permanently changing EU institutionsMicossi