Budgetary Policy Modelling: Public Expenditures (Routledge New International Studies in Economic Modelling)

The focus of this volume is on the European context of public budget policy and a variety of different approaches are used - theoretical modelling, econometrics and applied general equilibrium modelling. Empirical evidence and case studies of European countries are contained in all the papers. The papers cover the four general themes of public budget policy: \* economic stabilization, in view of the Economic and Monetary Union in the European Community \* reinforcing structural change, involved in market liberalization and harmonization of economic structures \* its distributional effects and implications for social equity \* endogenous economic growth. BOOK COVER 1 HALF-TITLE 2 TITLE 4 COPYRIGHT 5 DEDICATION 6 CONTENTS 7 FIGURES 9 TABLES 11 CONTRIBUTORS 15 INTRODUCTION 16 PART I THEORETICAL ASPECTS 21 1 PUBLIC EXPENDITURES, TAXES, DEBT AND ENDOGENOUS GROWTH 22 2 ENDOGENOUS GROWTH AND BUDGETARY POLICY IN THE OPEN ECONOMY 42 PART II PUBLIC DEFICITS AND STABILIZATION 61 3 PROPOSALS FOR COMMUNITY STABILIZATION MECHANISMS 62 4 SOME STOCHASTIC IMPLICATIONS OF THE GOVERNMENT’S BUDGET CONSTRAINT 85 5 CREDIT CONSTRAINTS AND THE EFFICIENCY OF BUDGETARY POLICY 108 6 STRUCTURAL ADJUSTMENT AND PUBLIC DEFICIT 129 7 PUBLIC DEFICITS AND INCOME DISTRIBUTION 172 PART III STRUCTURE OF PUBLIC EXPENDITURES AND IMPLICATIONS 187 8 PUBLIC SPENDING IN FEDERAL STATES 188 9 CAUSALITY BETWEEN PUBLIC EXPENDITURE AND TAXATION 223 10 ON THE EFFICACY, EFFICIENCY AND EQUITY OF STATE SUPPORT IN BRITAIN 243 INDEX 267 Public Budget Policy has been traditionally considered as a means for conveying macroeconomic policy, seeking a variety of social and economic objectives. As modern economies face, in the 1990s, a challenging bundle of problems, public policy is of growing importance. This volume contains ten scientific papers presented at the Applied Econometrics Association (AEA) Conference on 'Public Budget Modelling', held in Athens in April 1993. The focus is on the European context of public budget policy and a variety of different approaches are used - theoretical modelling, econometrics and applied general equilibrium modelling. Empirical evidence and case studies of European countries are contained in all the papers In this chapter we develop a theoretical endogenous growth model where the capital in public infrastructures has an influence on the productivity of private firms. Edited By Pantélis Capros And Danièle Meulders. Includes Bibliographical References And Index.