Government revenue and spending

Lecture Macroeconomics in context: A European perspective - Chapter 10: Fiscal Policy. In this chapter you will be able to: Understand the impact of changes in government spending, taxes, and transfers on aggregate demand and output; carry out calculations using “multipliers.”; describe the major types of government outlays, and major government revenue sources; discuss the issue of lags in fiscal policy, and the relative advantages and disadvantages of automatic and discretionary policies.

47p runordie1 10-05-2022 11 1   Download

Chapter 7 - The government sector. This chapter include objectives: Government spending, the graphing of the C + I + G line, types of taxes, the average and marginal tax rates, sources of government revenue, principles of taxation, the economic role of government.

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The oil revenue constitutes 50% of the GDP of Saudi Arabia approximately and indirectly governs the Public spending Avenues (PSA). The study finds out the symmetry in sensitivity and trend of Oil prices (OP), GDP, and Public Spending Avenues (PSA) and the impact of volatility of oil prices on the GDP, and PSA. The analysis is based on the Chain based Index (CBI) and Fixed Based Index (FBI) numbers to get the sensitivity and trend movement of the variables.

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This research probes the role of economic growth, trade openness, and oil price on government consumption growth to verify the type of cyclicality in Saudi Arabia from 1971 to 2018. The cointegration test of Pesaran (2001) is utilized to test the cyclicality hypothesis with augmented critical bound statistics developed by Kripfganz and Schneider (2019). We corroborate the long and short-run relationships in the fiscal model of Saudi Arabia. Further, procyclicality is proved in the long run and countercyclicality is corroborated in the short run with a 1-year lag effect.

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As a huge source of wealth, oil can serve as the engine of, or a barriers to, economic growth in oil-rich countries. The important issue is how to manage oil revenues while taking into account the welfare of future generations as a foundation of sustainable development. On one hand, oil-exporters can lay the groundwork for sustainable development by allocating these revenues to infrastructural projects; on the other hand, they can create rents through corruption or mismanagement and thus create a strong barrier to the growth of macroeconomic indicators (Sala-I-Martin and Subramanian, 2003).

13p kethamoi7 15-08-2020 29 1   Download

Saudi Arabia targets diversification policy in the Vision 2030. This study estimates the production, exports, government revenue, investment and employment diversification indices and also finds its determinants. Increasing inflation promotes the production and export diversification and depresses the investment, government revenue and employment diversification. The depreciation policy encourages the government revenue diversification and reduces investment and employment diversification.

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Education is among the basic human needs and one of the components of well being in the modern world. Equal distribution of education is of great interest in public policy analysis. Spending in education represents substantial share of government revenue. The inequality in educational distribution represents large welfare loss. The purposes of this article are three folds. First, it calculates average years of schooling. Second, it estimates educational inequality in terms of standard deviation of schooling.

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After reading this chapter, you should be able to: Identify the main categories of government spending and the main sources of government revenue; summarize the different philosophies regarding the distribution of a nation's tax burden; explain the principles relating to tax shifting, tax incidence, and the efficiency losses caused by taxes; demonstrate how the distribution of income between rich and poor is affected by government taxes, transfers, and spending.

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Relatedly, controlling for the forecast error of the change in fiscal policy does not, in our application, provide a way of estimating the causal effect of fiscal policy on growth. Over the two-year intervals that we consider, changes in fiscal policy are unlikely to be orthogonal to economic developments. Thus, the forecast error of fiscal consolidation over our two-year intervals cannot be interpreted as an identified fiscal shock and cannot yield estimates of actual fiscal multipliers. A large literature seeks to identify such exogenous shifts in government spending and revenues.

48p trinhcaidat 19-04-2013 57 4   Download

Having discussed robustness, Section IV turns to three extensions of our baseline results. First, we check whether the baseline results differ depending on whether the fiscal consolidation reflects changes in government spending or changes in revenue. The results suggest that fiscal multipliers were, on average, underestimated for both sides of the fiscal balance, with a slightly larger degree of underestimation associated with changes in government spending. Second, we examine forecast errors for the unemployment rate and for the components of GDP.

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State and local governments finance public services primarily through taxes. Nationally, the two biggest taxes are the property and sales tax, which generate more than two- thirds of all state and local tax revenue. Because states rely most on sales and property taxes, and because these taxes place higher effective rates on low- and middle-income households (who spend a greater share of their incomes on housing and purchasing necessities than the wealthy), state and local tax systems are regressive. In Rhode Island, the lowest twenty percent of households pay 11.

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Fiscal policy, based on cash-budgeting, aims over the medium term at preserving fiscal sustainability, while allowing for some modest increase in infrastructure and social spending. Given the fiscal framework, Government finances have improved. There are, however, unresolved issues concerning ghost workers and the accounting for diamond revenues. Total revenue increased from US$933.6 million in 2009 to US$2.34 billion in 2010, underpinned by increases in income and corporate taxes.

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Property Taxes Available for School Districts Expected to Grow Faster Than Assessed Value. We expect local property taxes that go to K-12 and community college districts— revenues that generally offset state spending—to grow faster than statewide assessed value, for two reasons. First, local school property taxes benefit in the near term due to the dissolution of redevelopment agencies (RDAs) because a portion of property taxes that went to these agencies in recent years is now distributed to other local governments, including schools and community colleges.

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The budget deficit equivalent to total government spending tax minus total government spending revenue.If income tax independently, but depend on the net income,

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The budget deficit equivalent to total government spending tax minus total government spending revenue.If income tax independently, but depend on the net income, • Why does society need money? • Why do governments wish to influence money supply? • How do financial markets interact with the ‘real’ economy? • What is the relationship between money and interest rates?

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The budget deficit equivalent to total government spending tax minus total government spending revenue.If income tax independently, but depend on the net income, Fiscal policy – the government’s decisions about spending and taxes • Stabilisation policy – government actions to try to keep output close to its potential level • Budget deficit – the excess of government outlays over government receipts • National debt – the stock of outstanding government debt

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The budget deficit equivalent to total government spending tax minus total government spending revenue.If income tax independently, but depend on the net income, The relevance of seaports in the efficient working of an economy cannot be understated since all goods and passengers transported by sea require the use of, at least, two ports. In the majority of countries, most international trade (export/import), and in some cases also large shares of domestic trade, is done through maritime transport.

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The budget deficit equivalent to total government spending tax minus total government spending revenue.If income tax independently, but depend on the net income,Unemployment rate: the percentage of the labour force without a job but registered as being willing and available for work Labour force those people holding a job or registered as being willing and available for work Participation rate the percentage of the population of working age declaring themselves to be in the labour force

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