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  • Articles  (21)
  • The Institute for Fiscal Studies  (21)
  • 2000-2004  (21)
  • 1995-1999
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  • 1975-1979
  • 2002  (21)
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  • Economics  (21)
  • Sociology
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  • Articles  (21)
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  • 2000-2004  (21)
  • 1995-1999
  • 1980-1984
  • 1975-1979
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  • Economics  (21)
  • Sociology
  • 1
    Electronic Resource
    Electronic Resource
    Social security in the UK under New Labour: what did the Third Way mean for welfare reform? (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: In 1997, the Labour Party was elected in the UK with few explicitly articulated ideas about social security reforms. This paper reviews the large number of subsequent reforms to social security, and argues that some consistent themes have emerged. A commitment to keep to the tight spending plans of the previous, Conservative, administration left little scope for increases in benefit spending during the first two years in office. Since that time, increases in the generosity of some social security programmes have been directed towards achieving certain goals. An emphasis on encouraging paid work has been a consistent theme, whilst aims of reducing poverty rates for children and pensioners have been emphasised since 1999. Spending to achieve these goals has often been directed through means-tested programmes, and there has been a related weakening of the link between paid National Insurance contributions and benefit entitlements. It remains to be seen whether reforms to the process of income assessment will increase take-up.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1475-5890.2002.tb00071.x
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  • 2
    Electronic Resource
    Electronic Resource
    Accrual accounting and Australian fiscal policy (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: Australian governments have recently moved from cash accounting to accrual accounting. Accrual accounting has been accompanied at the national government level by the introduction of a new key fiscal policy measure: the ‘fiscal balance’. This paper explains and evaluates this new fiscal measure. It concludes that, given the present fiscal policy of the Australian government, fiscal balance is a superior fiscal policy measure to the ‘cash’ budget balance measure which it replaced. However, from the alternative ‘golden rule’ policy standpoint, fiscal balance is not a meaningful fiscal policy measure — although its stock counterpart, net financial liabilities, certainly is.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1475-5890.2002.tb00062.x
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  • 3
    Electronic Resource
    Electronic Resource
    Local fiscal equalisation based on fiscal capacity: the case of Austria (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: This paper deals with local fiscal equalisation in Austria. The system of intergovernmental relations in Austria includes different regulations in order to equalise differences in the fiscal capacity of the municipalities. This leads to so-called ‘compensation effects’, because additional revenues from a local government's own tax are (at least partly) compensated by losses from equalisation grants. This paper carries out a detailed analysis of these compensation effects. It is shown that they create strong fiscal disincentives for the local governments: on average, 55 per cent of additional revenues from the communal tax (which is the most important of a local government's own taxes) are compensated by losses of equalisation grants. In extreme cases, local governments can lose up to 144 per cent of the additional tax yields collected. These local governments would be better off if they made no effort to increase their tax base.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1475-5890.2002.tb00056.x
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  • 4
    Electronic Resource
    Electronic Resource
    Symposium on Welfare Reform under the Labour Government: Part I, Editorial Note (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: This symposium arises from a one-day conference held at the Institute for Fiscal Studies on 22 May 2002. The papers presented on that day considered the social security reforms during the first term of the Labour government from a number of perspectives. The three articles published here — and the further three that will follow in Part II of the symposium — are drawn from a broader range of disciplines than is usual for Fiscal Studies papers.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1475-5890.2002.tb00070.x
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  • 5
    Electronic Resource
    Electronic Resource
    Trends in British public investment (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: British public investment has declined sharply both as a share of GDP and as a share of government spending since the 1970s. Only part of this decline is explained by privatisation, which transferred some public investment to the private sector. More important was the very large and permanent reduction in public house-building between the mid-1970s and the early 1980s. Between the late 1980s and the early 1990s, the rate of public investment recovered somewhat, but after that time it declined again, reaching a record low in 1999. The most recent decline in public investment has affected a range of central government programmes, and it has not been significantly offset by investment under the Private Finance Initiative. The government now plans to increase investment spending, although levels look set to remain low by historical standards for some time to come.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1475-5890.2002.tb00063.x
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  • 6
    Electronic Resource
    Electronic Resource
    The restructuring and privatisation of British Rail: was it really that bad? (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: This paper uses a social cost-benefit analysis (SCBA) framework to assess whether rail privatisation in Britain has produced savings in operating costs. The paper shows that major efficiencies have been achieved and consumers have benefited through lower prices, whilst the increased government subsidy has been largely recouped through privatisation proceeds. We also find that output quality is no lower (and is probably better) than under the counterfactual scenario of public ownership (pre-Hatfield). The achievement of further savings is key to delivering improved rail services in the future. This paper finds that a privatised structure, where shareholders demand a return on their investment, has led to significant improvements in operating efficiency. It remains to be seen whether the new regime, with a not-for-profit infrastructure owner, will deliver the same efficiency improvements.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1475-5890.2002.tb00069.x
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  • 7
    Electronic Resource
    Electronic Resource
    Pot of gold or winner's curse? An event study of the auctions of 3G mobile telephone licences in the UK (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: Commentators have suggested that the winning companies in the UK 3G mobile telephone auction overpaid for their licences. However, event-study method using the market model under ordinary least squares (OLS), robust and structural time-series estimation yields no systematic evidence of the ‘winner's curse’. Positive as well as negative one-day wealth effects are observed amongst both winners and losers, and there is no lasting adverse market reaction to the winners, taken as a group. We conclude there is no case for easing the regulatory stance in the industry on grounds that the winners paid too much.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1475-5890.2002.tb00068.x
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  • 8
    Electronic Resource
    Electronic Resource
    Following or Leading Public Opinion? Social Security Policy and Public Attitudes Since 1997 (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: This paper examines New Labour's social security and related policies since 1997 in the light of evidence on public attitudes. The list of measures where policies have been in or have come into line with public attitudes is much longer than the list of measures where policies have been out of line with public attitudes or appear to have led them. One interpretation is that policy has been led by opinion surveys and focus groups, with opportunities lost to take more radical action and then persuade people of the need and justification for it. An alternative would be that policy has navigated with the grain of some of the more progressive parts of public opinion to achieve a result that has carried the public with it, in a way that would not have been sustainable if there had simply been an increase in the generosity of an unreformed social security system.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1475-5890.2002.tb00072.x
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  • 9
    Electronic Resource
    Electronic Resource
    The Croatian profit tax: an ACE in practice (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: This paper discusses the experience of Croatia in applying, from 1994 to the beginning of 2001, a profit tax that was charged only on equity income in excess of an imputed normal return - and was thus, in essence, an ‘Allowance for Corporate Equity’ (ACE) scheme of the kind advocated by the IFS Capital Taxes Group and others. The computation of taxable profit under this system is summarised, and the theoretical attractions of the system are described. The paper then discusses a variety of criticisms that were made of the system in Croatia, including an alleged bias in favour of capital-intensive enterprises (and, in particular, large State-owned enterprises with overvalued assets), international complications, the complexity of the computations of taxable profit, the possibility that the rate of protective interest was set at an inappropriate level, and excessive revenue cost.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1475-5890.2002.tb00066.x
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  • 10
    Electronic Resource
    Electronic Resource
    Does an employer training levy work? The incidence of and returns to adult vocational training in France and Britain (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: We examine two different policy regimes towards continuing vocational training for the adult workforce: policy in France has been interventionist, using an employer training levy since the 1970s, whereas British policy has relied largely on individual initiatives for training investment by employers and workers.We begin with a review of the theory of vocational training, indicating why market failure and underprovision are the likely outcome and signalling types of corrective policy that might be adopted. We set up hypotheses about the likely impact of policy in France relative to Britain to provide a framework for evaluation. We present a detailed comparison of the two systems in observed training incidence and the returns to training captured by workers and employers, drawing on a wide range of econometric studies. We conclude with an assessment of the employer training levy in France and suggest ways it could be modified if adopted in Britain.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1475-5890.2002.tb00060.x
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  • 11
    Electronic Resource
    Electronic Resource
    Targeting welfare in Italy: old problems and perspectives on reform (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: This paper has two principal objectives. Using a tax-benefit microsimulation model and the 1998 micro data of the Bank of Italy survey of household income and wealth, we first study the distributional effects of the current Italian income maintenance system and highlight its main defects and limitations, concerning in particular its unequal coverage of the population and its low efficiency in fighting poverty. The second aim is to describe and analyse the reforms recently implemented in this field; in particular, the Italian government has reformed the targeting criteria and introduced three new cash transfers. We describe these reforms both in their institutional characteristics and in their likely distributional consequences, and examine whether and to what extent they are able to overcome the shortcomings of the current system.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1475-5890.2002.tb00054.x
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  • 12
    Electronic Resource
    Electronic Resource
    The economic costs and benefits of UK defence exports (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: This study examines the economic costs and benefits to the UK of a 50 per cent cut in UK defence exports from the average level of 1998 and 1999. The net impact on the government budget is estimated to be an ongoing loss of between around £40 million and £100 million a year: around 0.2–0.4 per cent of the total UK defence budget. In addition, there is estimated to be a one-off net adjustment cost, spread over five years, of between £0.9 billion and £1.4 billion. A further more speculative adjustment cost (estimated at around £1.1 billion) could result if the loss of income associated with the ‘terms-of-trade£ effect were also included. In terms of the wider debate about defence exports, the results of this study suggest first that the economic effects of the reduction in defence exports are relatively small and largely one-off, and secondly that the balance of arguments about UK defence exports should be determined mainly by non-economic factors.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1475-5890.2002.tb00064.x
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  • 13
    Electronic Resource
    Electronic Resource
    Left out in the cold? New energy tariffs, low-income households and the fuel poor (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: Two new gas tariffs were introduced in 2000, with contrasting effects. One abolished a fixed standing charge, while the other, specifically targeted at low-income consumers, introduced a preset charge, independent of fuel consumption, for eligible consumers. We analyse the effect of the abolition of the standing charge on different household groups, including the fuel poor, the current focus of government and regulatory policy. We find that while low-income groups have benefited more than others from abolition of the standing charge, the fuel poor have gained less than average. We contrast this with the other targeted preset charge scheme.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1475-5890.2002.tb00058.x
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  • 14
    Electronic Resource
    Electronic Resource
    Gender implications of current social security reforms (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: This paper examines some current reforms to social security benefits / tax credits and changes to employment provisions from a gender perspective. It analyses tensions between the trend towards ‘individualisation’ and growing emphasis on the couple/household as a policy focus.New tax credits change the distribution of resources within many couples. Incentives to work for some second earners should improve; but extending in-work subsidies to childless couples raises questions. Payment of child tax credit to the ‘main carer’ has been welcomed, though the implications of joint ownership of tax credits are unclear, and joint assessment will be extended.Many claimants' partners can now access employment services. However, this is aimed at reducing the number of workless households rather than expanding individuals' opportunities. Joint claims for jobseeker's allowance, and work-focused interviews, involve increased responsibilities for partners but no right of access to individual income. A more consistent critical analysis of reform from a gender perspective is required.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1475-5890.2002.tb00073.x
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  • 15
    Electronic Resource
    Electronic Resource
    Simplifying the personal income tax system: lessons from the 1998 Spanish reform (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: Governments often try to reduce the complexity of personal income tax systems by decreasing the number of tax filings. The 1998 reform of the Spanish income tax system has followed this approach by adjusting withholding on earned income to the income tax liability. In this paper, we assess to what extent the reform has fulfilled its purposes, making use of a micro-simulation tax-benefit model for Spain, ESPASIM. The number of individuals exempt from filing a tax return has been reduced to around half of the total number of taxpayers. However, the quantity of tax returns sent to the tax administration has not changed so much because the new withholding system adjusts taxes for only 29 per cent of those exempt. Moreover, the new system increases the overall excess of tax withholding by 1.5 billion euro. We also study alternative reforms that could achieve better results than the one implemented.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1475-5890.2002.tb00067.x
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  • 16
    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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  • 17
    Electronic Resource
    Electronic Resource
    Unemployment and workers' compensation programmes: rationale, design, labour supply and income support (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: I examine the unemployment insurance (UI) and workers' compensation (WC) insurance programmes, concentrating on labour supply, insurance and income redistribution. UI and WC increase the time employees spend out of work. Elasticities of lost work time that incorporate both the incidence and duration of claims are centred at 1.0 for UI and between 0.5 and 1.0 for WC. These elasticities are larger than elasticities typically found in studies of wage effects on hours worked by men, probably because UI and WC lead to short-run variation in wages with mostly a substitution effect and the programmes alter the participation margin. Some good evidence suggests that UI smooths the consumption of the unemployed and more clearly indicates that UI progressively redistributes resources. There is substantial evidence that injured workers suffer material hardships even with WC programmes, but research has not provided an overall picture of the insurance and redistributive aspects of WC.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1475-5890.2002.tb00053.x
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  • 18
    Electronic Resource
    Electronic Resource
    Targeting fuel poverty in England: is the government getting warm? (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: This paper examines the cost-effectiveness of the new Home Energy Efficiency Scheme (HEES), a key component of the UK government's Fuel Poverty Strategy. The impact on the fuel poverty gap is simulated using data on a large-scale and representative sample of households in England. The scope for improving the scheme's targeting is considered by examining the optimal allocation of grants between households. The extent to which these potential gains might be achieved in practice using pragmatic criteria for distributing grants, and the implications of taking into account the dynamics of fuel poverty and the self-selection of grant applicants, are also explored. The current scheme is unlikely to have a very significant impact on fuel poverty, and considerable gains could be achieved by redesigning HEES, although the paper also highlights the difficulties involved in efficient targeting, including some additional complications not encountered in the analysis of more traditional anti-poverty measures.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1475-5890.2002.tb00065.x
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  • 19
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    A conceptual framework for understanding global and transnational public goods for health (2002)
    London, UK : The Institute for Fiscal Studies
    Fiscal studies 23 (2002), S. 0 
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    ISSN: 1475-5890
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: The paper presents two taxonomies for classifying global and transnational health-promoting activities according to three parameters of publicness — non-rivalry of benefits, non-excludability of non-payers and the aggregation technologies. Based on these taxonomies and their implications for efficiency and equity, this paper identifies the need for international cooperation in some, but certainly not all, areas concerning the provision of such health-promoting activities. Additionally, institutional responses are evaluated in light of the various health-promoting activities. The roles of multilaterals, non-governmental organisations, foundations and nations are addressed. A host of current global health issues — for example, public-private partnerships, international orphan drug legislature and patent protection — are addressed.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1475-5890.2002.tb00059.x
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  • 20
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    The tax treatment of UK defined contribution pension schemes (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: The paper aims to clarify the tax status of pension schemes in the UK and, by using economic and other arguments, to establish a theoretical benchmark that could be considered the ‘appropriate’ tax regime for pension saving. We consider existing tax regimes for saving (such as the ‘ISA’ regime) and theoretical regimes (such as a pure expenditure tax and a comprehensive income tax) and we compare the costs different tax regimes impose on defined contribution pension schemes.We conclude that an expenditure tax is an appropriate benchmark tax regime for pension saving, and that other tax regimes impose additional financial as well as administrative costs.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1475-5890.2002.tb00055.x
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  • 21
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    UK policy coordination: the importance of institutional design (2002)
    London, UK : The Institute for Fiscal Studies
    Fiscal studies 23 (2002), S. 0 
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    ISSN: 1475-5890
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: This paper considers the principles that underpin the design of the UK's macroeconomic framework, with particular emphasis on the importance of good institutional design in ensuring effective coordination of monetary and fiscal policy when an independent Bank of England Monetary Policy Committee has operational responsibility for setting interest rates. The theoretical literature on policy coordination finds that the cost of central bank independence is less monetary-fiscal coordination. We argue that once account is taken of the institutional arrangements, this conclusion does not hold for the UK. In fact, the UK macroeconomic policy framework represents a significant improvement in policy coordination through mechanisms that allow for greater transparency and accountability in policy-making. Among the measures discussed in the paper is the role of the Treasury Representative on the Bank of England Monetary Policy Committee.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1475-5890.2002.tb00057.x
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