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Fiscal incentive effects of the German equalization system /
Does reliance on transfers weaken fiscal discipline and encourage pro-cyclical fiscal policies in recipient subnational governments? Using fiscal reaction functions for a panel of the German Länder, this paper finds a positive answer to both questions. Net-recipient states (Länder, benefiting from...
| Clasificación: | Libro Electrónico |
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| Autores principales: | , |
| Autor Corporativo: | |
| Formato: | Electrónico eBook |
| Idioma: | Inglés |
| Publicado: |
[Washington, D.C.] :
International Monetary Fund,
©2009.
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| Colección: | IMF working paper ;
WP/09/124. |
| Temas: | |
| Acceso en línea: | Texto completo |
| Sumario: | Does reliance on transfers weaken fiscal discipline and encourage pro-cyclical fiscal policies in recipient subnational governments? Using fiscal reaction functions for a panel of the German Länder, this paper finds a positive answer to both questions. Net-recipient states (Länder, benefiting from the transfer system) have not reduced primary expenditure significantly in response to rising deficits, but have instead relied on vertical transfers from the federal government to ensure debt sustainability. Moreover, they have pursued pro-cyclical policies, particularly by raising expenditures in g. |
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| Notas: | At head of title: Fiscal Affairs Department. "June 2009." |
| Descripción Física: | 1 online resource (29 pages) : color illustrations. |
| Bibliografía: | Includes bibliographical references (pages 27-29). |
| ISBN: | 1451917007 9781451917000 1462369898 9781462369898 1452761167 9781452761169 1282843389 9781282843387 1451872712 9781451872712 9786612843389 6612843381 |
| ISSN: | 2227-8885 ; |