ABSTRACT

There is no magic formula for balancing fiscal policy and economic performance. As a scholar and policy advisor, Vito Tanzi has made a major contribution to identifying links between public finance and macro and microeconomic consequences. His findings bear relevance in both developing and industrialized economies. The essays in this volume and its companion, Fiscal Policy and Economic Reform, highlight many of these interconnected issues, for instance:
* the interaction between budgetary policy and economic aggregates, such as employment, inflation and growth
* the implication of economic linkages for designing fiscal policies
* expenditure policies and alternative deficit financing strategies
* the trade-offs between macro- and microeconomic objectives
The list of contributors includes Max Corden, John Makin, Ronald McKinnon and Richard Musgrave.

chapter 1|9 pages

INTRODUCTION AND OVERVIEW

part |1 pages

Part I MACROECONOMIC ASPECTS OF BUDGETARY POLICIES

chapter 2|14 pages

MICRO AND MACRO ASPECTS OF FISCAL POLICY

chapter 4|29 pages

THE BUDGET-MINIMIZING BUREAUCRAT

part |1 pages

Part II FISCAL FEDERALISM

chapter 6|16 pages

TOPICS IN THE THEORY OF REVENUE ASSIGNMENT

chapter 7|19 pages

EUROPEAN INTEGRATION AND THE THEORY OF FISCAL FEDERALISM

ByRichard Hemming, Paul Bernd Spahn

part |1 pages

Part III MACROECONOMIC ASPECTS OF FISCAL POLICY IN THE OPEN ECONOMY

chapter 9|18 pages

EQUIVALENCE RELATIONS IN INTERNATIONAL TAXATION

ByAlan Auerbach, Jacob A. Frenkel, Assaf Razin

chapter 11|23 pages

TRADE REFORM, UNIFORM TARIFFS AND THE BUDGET

BySebastian Edwards

chapter 12|29 pages

THE ROLE OF FOREIGN CURRENCY DEBT IN PUBLIC DEBT MANAGEMENT

ByPatrick de Fontenay, Gian Maria Milesi-Ferretti and Huw Pill

part |1 pages

Part IV EXPENDITURE POLICIES

part |1 pages

Part V THE FINANCING OF BUDGET DEFICITS

chapter 14|72 pages

TREASURY BILL AUCTIONS: ISSUES AND USES

chapter 15|24 pages

THE FISCAL ABUSE OF CENTRAL BANKS

ByMaxwell J. Fry

part |1 pages

Part VI FISCAL POLICY AND THE MACROECONOMY: COUNTRY STUDIES