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Path-dependent models and the elite conflict model are compared to examine state fiscal crises. Findings show that the elite conflict model explains the dynamics of fiscal crises better in terms of the imperial expansion of European countries, such as France, Spain, Britain and the Netherlands. Elite conflicts involve multiple political actors.

The interdependence of fiscal policies in the European Union is examined using real-time data concerning primary cyclically adjusted deficit. The study determined how available information is incorporated into fiscal plans and how revised data are affected by unplanned developments.

An endogenous fiscal closure rule is deduced using macroeconomic model. The rule is used for macroeconomic forecasting and understanding fiscal policy response of state.

Within an optimizing endogenous growth model with productive public capital and government debt, we derive and characterize on the balanced growth path a set of welfare-maximizing fiscal rules under different budgetary regimes. It is shown that optimal fiscal policy depends on the specific budgetary stance considered. JEL classification: E62; H41; H50; O40 Keywords: Endogenous growth: Public capital; Budgetary regimes: Optimal fiscal policy

Costs and exchange rates have a major economic impact upon fiscal programs in open economies in this study of members of the Organization for Economic Cooperation and Development from 1964-93.

Unemployment in Australia can be stabilized with a growth rate of 2.8% a year and reduced with 3.5% a year. Neither of these rates is possible unless the government in power in 1997 changes its fiscal consolidation strategy. An expansionary fiscal policy will increase demand for goods and services and increase employment, and that must include integrating industrial policy, labor marketing, and industrial relations reform.

European countries can adopt a fiscal reform policy that can mitigate CO2 emissions while generating employment. The fiscal policy would require the implementation of a CO2/energy tax along with reductions in social contributions equivalent to 1% of the European GDP. It would bring about even a limited net impact on unemployment and CO2 level.

It has been argued that in the United States the basic human rights to adequate food, clothing, shelter, medical care, and education have been violated because of the diversion of resources for military purposes. This article presents justice principles that address issues of fairness in the distribution of resources and in the claims and demands made for them. The implications of a policy initiative to reorder the nation's fiscal priorities are examined from three diverse social justice perspectives: libertarian, utilitarian, and egalitarian. Justifications for reducing defense spending, funding human services, and resuscitating a stagnant economy through revised tax and appropriations policies are found in all three seemingly incompatible perspectives. Social workers are urged to form coalitions with those from disparate philosophical perspectives who support common goals to reverse the fiscal trends of the past decade., The end of the Cold War and the collapse of the Soviet military threat have presented a historic opportunity to address long-neglected domestic needs and to revive the U.S. economy. [...]

A survey of small town policy was conducted by the University of North Florida's Center for Local Government and based on samples obtained from a list provided by the Florida League of Cities and the Florida Dept. of Community Affairs. Results showed a decreased tendency for the use of innovative management techniques for policy planning because of their susceptibility to fiscal stress. Community size and traditional individualism also affected policy management activities.

It's almost as predictable as the swallows returning to Capistrano. Every l0 years or so when state fiscal conditions tighten up, legislatures cut higher education to help balance their budgets. [...]

The US Congressional Budget Office (CBO) was criticized by politicians for its overly pessimistic 1997 budget balance forecast after the agency announced an $8-billion surplus projection in Mar 1998. Politicians were displeased because the erroneous forecast was used in budget planning and resulted in higher cuts in spending as well as increased taxes. An analysis of the 1997 forecast indicates that errors resulted from the understatement of gross domestic product and share of personal income for high-bracket taxpayers as well as from failure to predict the stock market surge.