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Income Distribution, Political Instability, and Investment
This paper successfully tests on a sample of 70 countries for the period 1960-85 the following hypotheses. Income inequality, by fueling social discontent, increases socio-political instability. TheExpand
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Growth, income distribution, and democracy: What the data say
This paper investigates the relationship between income distribution, democratic institutions, and growth. It does so by addressing three main issues: the properties and reliability of the incomeExpand
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Fiscal expansions and adjustments in OECD countries
Fiscal adjustments Fiscal expansions and adjustments in OECD countries In several countries policy-makers are striving to improve the budget balance, which can be done either by raising taxes or byExpand
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Fiscal Adjustments in OECD Countries: Composition and Macroeconomic Effects
This paper studies how the composition of fiscal adjustments influences their likelihood of “success”, defined as a long lasting deficit reduction, and their macroeconomic consequences. We find thatExpand
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Fiscal Policy in Good Times and Bad
In the 1980s several countries with large government debt or deficit implemented substantial, and in some cases drastic, deficit cuts. Contrary to widespread expectations, in many cases privateExpand
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Fiscal Policy, Profits, and Investment
This paper evaluates the effects of fiscal policy on investment using a panel of OECD countries. In particular, we investigate how different types of fiscal policy affect profits and , as a result,Expand
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The Welfare State and Competitiveness
In all modern industrial countries, redistributive expenditures are a larger component of the government budget than consumption of goods and services. In this paper, we use a general equilibrium,Expand
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In Search of the Transmission Mechanism of Fiscal Policy
Most economists would agree that a hike in the federal funds rate will cause some slowdown in growth and inflation, and that the bulk of the empirical evidence is consistent with this statement. ButExpand
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Fiscal Expansions and Fiscal Adjustments in OECD Countries
This paper considers budget expansions and adjustments in OECD countries in the last three decades. Our main results are: i) on average fiscal expansions are the results of increases in expenditures,Expand
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Fiscal Policy in Latin America
Fiscal policy in Latin America has been understudied, in part because of inadequate data. This paper utilizes a new, comprehensive database on fiscal outcomes in 13 major Latin American economiesExpand
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