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  • 1
    Electronic Resource
    Electronic Resource
    Should central government seek to control the level of local authority expenditures? (2002)
    London, UK : The Institute for Fiscal Studies
    Fiscal studies 23 (2002), S. 0 
    Details
    ISSN: 1475-5890
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: Should local authorities be free to determine their expenditure, provided they finance changes in spending by changes in local taxation? We set up a theoretical framework to analyse this issue, and discuss three arguments that have been put forward for central control of such spending. The first relates to tax spillovers, the second to distributional effects combined with imperfect local democracy and the third considers self-interested local politicians. While these arguments cannot be entirely dismissed, they are subject to numerous qualifications and, if correct, would imply the desirability of a number of policies other than expenditure capping.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1475-5890.2002.tb00061.x
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    Paper (German National Licenses)
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  • 2
    Electronic Resource
    Electronic Resource
    FISCAL POLICIES IN AN INTERTEMPORAL DISEQUILIBRIUM MACROECONOMIC MODEL (1993)
    Oxford, UK : Blackwell Publishing Ltd
    Bulletin of economic research 45 (1993), S. 0 
    Details
    ISSN: 1467-8586
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: A two-period macroeconomic model where consumption and investment decisions are given microeconomic foundations is presented. The model is used to analyse the effects of both current and anticipated fiscal expansion; careful attention is paid to the implications of the government's intertemporal budget constraint. It is shown that anticipated fiscal expansion may, in certain circumstances, be expansionary. Also, current fiscal expansion, if financed by bonds which are retired through future money creation, may be contractionary.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1467-8586.1993.tb00559.x
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  • 3
    Electronic Resource
    Electronic Resource
    A Theory of Credit Ceilings in a Model of Debt and Renegotiation (2000)
    Oxford, UK and Boston, USA : Blackwell Publishers Ltd
    Bulletin of economic research 52 (2000), S. 0 
    Details
    ISSN: 1467-8586
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: A model is considered in which an entrepreneur uses debt to finance a risky investment project. He may in certain circumstances credibly threaten default on the loan, which is then renegotiated. However, lenders will never lend so much that default is credibly threatened in all states. There exists a ‘credit ceiling’ which, if binding, implies underinvestment. The paper discusses the determinants of the credit ceiling and derives some comparative statics results. For example, it is shown that the credit ceiling is raised by a mean-preserving spread of the firm’s revenues. Also, a borrower may benefit from a reduction in his bargaining power.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/1467-8586.00107
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  • 4
    Electronic Resource
    Electronic Resource
    SECTORAL AND MACROECONOMIC EFFECTS IN A TWO GOOD OPEN ECONOMY WITH AN INTERMEDIATE INPUT (1984)
    Oxford, UK : Blackwell Publishing Ltd
    Bulletin of economic research 36 (1984), S. 0 
    Details
    ISSN: 1467-8586
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: A model of an open economy, in which two goods, a tradeable and a non-tradeable, are distinguished, is constructed. There is also an intermediate input (oil) which is both produced domestically and traded, and which is used as an input in the traded sector. There are two assets, money and internationally traded bonds. In the model the effects of various changes, including an increase in the money supply, and increases in both the world price of, and the domestic output of, oil, are analysed.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1467-8586.1984.tb00522.x
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