The moderating effect of the public finances on transport infrastructures in Spain

2021 ◽  
Author(s):  
Agustín Álvarez‐Herránz ◽  
M. Gabriela Lagos ◽  
Daniel Balsalobre‐Lorente
Keyword(s):  
Moderating Effect ◽  
Public Finances ◽  
The Public

scholarly journals Assessing the sustainable nature of housing-related taxation receipts: the case of Ireland

2016 ◽  
Vol 9 (2) ◽  
pp. 193-214 ◽  
Author(s):  
Diarmaid Addison Smyth ◽  
Kieran McQuinn
Keyword(s):  
Financial Crisis ◽  
Housing Market ◽  
Extended Period ◽  
Market Regulation ◽  
Content Type ◽  
Public Finances ◽  
Financial Market Regulation ◽  
The Public ◽  
Recent Financial Crisis ◽  
Run Up

Purpose The Irish fiscal position was significantly affected by the recent financial crisis. Budgetary surpluses quickly gave way to significant deficits post 2007, culminating into a lengthy excessive deficit procedure and entry into a formal EU/IMF assistance programme in 2010. Much of the deterioration in the public finances was caused by a sharp decline in property-related taxes because the Irish housing market rapidly contracted. In this paper, the authors quantify the extent to which disequilibria in the housing market can affect the tax take, finding significant implications over an extended period. Design/methodology/approach The authors attempt to quantify the extent of housing-related tax windfall gains and losses in Ireland over a 30-year period as a result of disequilibrium in the housing market. This involves a three-step modelling approach where we relate property-dependent taxes to the housing market while estimating equilibrium in the latter before solving for the tax take consistent with that equilibrium. In so doing, the authors find that the fiscal position compatible with equilibrium in the housing market has at times diverged greatly from actual outturns. Findings This paper confirms the significant role played by the housing market in influencing both the tax-take and the overall fiscal position. The authors find that there have been a number of instances where excesses in the housing market have spilled over into fiscal aggregates, notably in the housing bubble period between 2003 and 2008. However, with the on-going adjustments in the housing market, it would appear that prices and volumes have overcorrected in recent years. Overall, much greater emphasis should be given to the role of the housing market in forecasting key taxation aggregates. Originality/value The recent crisis highlighted how domestic policy mistakes (both in terms of budgetary planning and financial market regulation) can greatly amplify economic shocks. Irish budgetary policy in the run up to the financial crisis of 2008/2009 was clearly based on unsustainable levels of housing-related tax receipts. This paper highlights the need for a much more granular approach in framing tax forecasts and in assessing the public finances by more explicitly factoring in housing market developments.

The Public Finances: An Introductory Textbooks.

1961 ◽  
Vol 16 (4) ◽  
pp. 611
Author(s):  
Roland I. Robinson ◽  
James M. Buchanan
Keyword(s):  
Public Finances ◽  
The Public ◽  
Introductory Textbooks

I conti pubblici nel decennio 1998-2007: fattori temporanei, tendenze di medio periodo, misure discrezionali

2009 ◽  
pp. 139-175
Author(s):  
Sandro Momigliano ◽  
Maria Rosaria Marino ◽  
Pietro Rizza
Keyword(s):  
Monetary Union ◽  
European Monetary Union ◽  
Capital Expenditure ◽  
Economic Cycle ◽  
European Monetary ◽  
Public Finances ◽  
The Public ◽  
Rapid Deterioration ◽  
Structural Improvement

- The paper examines the development of Italy's public finances after the consolidation period 1992-97, which secured participation in the European Monetary Union from the outset. The «structural» developments in the main budgetary components are assessed, excluding the effects of the economic cycle and of temporary measures. The analysis shows a rapid deterioration in the years 1998-2003, whose roots can be traced back to the consolidation of the early 1990s, achieved primarily by means of tax increases and cuts in capital expenditure. Since 2004 there has been a structural improvement, initially modest but substantial in 2006 and 2007. Sustaining this adjustment and making further progress may again prove difficult, as the fiscal correction is similar in nature to the previous consolidation effort. Looking at the whole period 1998-2007, the deterioration of the public finances seems attributable to the difficulty to restrain the growth of current primary expenditure.

The Politics of Fiscal Squeeze

2014 ◽  
Author(s):  
David Heald ◽  
Christopher Hood
Keyword(s):  
Public Finances ◽  
The Public ◽  
Different Types ◽  
Blame Avoidance ◽  
Credit Claiming

This chapter conceives ‘fiscal squeeze’ as political effort to correct the public finances by raising taxes or cutting spending (or both), distinguishing different types of squeeze. It poses three questions about such squeezes, namely whether there is something special about the politics of austerity or retrenchment, whether fiscal squeeze presents credit-claiming opportunities or severe blame-avoidance challenges to elected governments, and how consequential the effects of fiscal squeezes are. It argues that to put fiscal squeezes into perspective we need to observe what else is happening in the relevant country and in the outside world, to examine what happened afterwards, and to compare fiscal squeezes with one another to see what, if any, common patterns they display. It introduces nine different cases of fiscal squeeze in democracies ranging from the early 1800s to the early 2000s. Each of those cases can be seen as puzzling or contested in some way.

The effect of subjective age on knowledge sharing in the public sector

2019 ◽  
Vol 49 (1) ◽  
pp. 303-323 ◽  
Author(s):  
Alessandra Lazazzara ◽  
Stefano Za
Keyword(s):  
Public Sector ◽  
Knowledge Sharing ◽  
Moderating Effect ◽  
Organisational Structure ◽  
Subjective Age ◽  
Content Type ◽  
Diverse Workforce ◽  
The Public ◽  
Work Related ◽  
The Relationship

Purpose The purpose of this paper is to examine whether subjective age – i.e., how old or young individuals experience themselves to be – affects explicit and tacit knowledge sharing (KS) in the public sector. Moreover, the study explores the moderating effect of three socio-organisational factors, namely KS attitude, co-workers age similarity and organisational structure, on the relationship between subjective age and KS. Design/methodology/approach Data were collected from employees working in public (n=144) and hybrid (n=263) Italian organisations. Hierarchical linear multiple regression analysis was employed to examine the multivariate effects on explicit and tacit KS. Findings Employees who perceive themselves to be older than they actually are experience lower explicit KS in the public sector. In addition, the moderating effect of age similarity and organisational structure on the relationship between subjective age and tacit KS was found to be significant. Practical implications This study may help managers and policy makers to manage age-diverse workforce operating in highly structured and formalised organisations and to develop HR programmes aimed at fostering KS. Originality/value This is the first study linking subjective age to KS in the public sector. This is an extremely interesting context due to the high average age and oldest workforce composition. In this way, the paper extends the literature on subjective age and work-related outcomes and may potentially contribute to the debate regarding KS practices in public organisations.

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