We analyze the conduct of fiscal policy in a financially integrated union in the presence of financial frictions. Frictions create a wedge between the return to investment and the union interest rate.
The study analyzed how political-electoral incentives influence the fiscal management of Brazilian municipalities and their effects on electoral results. Two findings stand out, the first is that alth
Captures full set of data compiled from sources including IMF Article IV Country Reports, Energy Information Administration, World Development Indicators and the International Country Risk Group (ICRG
This paper considers the possible theoretical validity of the following "monetarist hypothesis": that a constant, positive government budget deficit can be maintained permanently and without inflation