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- 2024
- Working Paper
Fiscal Policy under Convex Supply Curves
By: Shlok Goyal, Avi Lipton and Borui Niklas Zhu
Recent empirical evidence suggests that supply curves are convex. Supply curve convexity is at odds with conventional Phillips curves, which rely on an infinitely elastic underlying supply curve. This paper explores the effect of supply curve convexity on the... View Details
Keywords: Fiscal Stimulus; Fiscal Policy; Inflation; Inflation and Deflation; Macroeconomics; Policy; Mathematical Methods; United States
Goyal, Shlok, Avi Lipton, and Borui Niklas Zhu. "Fiscal Policy under Convex Supply Curves." Working Paper, August 2024.
- 2019
- Chapter
From Coast to Hinterland: Fiscal State Formation in British and French West Africa, c. 1880–1960
By: Ewout Frankema and Marlous van Waijenburg
This chapter contrasts and compares the ways different colonial states in West Africa developed local fiscal capacity. We show that per capita revenues were higher in the more commercialised coastal export economies than in remote parts of the interior. We argue that... View Details
Keywords: Fiscal Capacity; Public Debt; French West Africa; British West Africa; Geography; History; Africa
Frankema, Ewout, and Marlous van Waijenburg. "From Coast to Hinterland: Fiscal State Formation in British and French West Africa, c. 1880–1960." In Fiscal Capacity and the Colonial State in Africa and Asia, c. 1850–1960, edited by Ewout Frankema and Anne Booth, 161–192. Cambridge: Cambridge University Press, 2019.
- September 2014
- Article
Metropolitan Blueprints of Colonial Taxation? Lessons from Fiscal Capacity Building in British and French Africa, 1880-1940
By: Ewout Frankema and Marlous van Waijenburg
The historical and social science literature is divided about the importance of metropolitan blueprints of colonial rule for the development of colonial states. We exploit historical records of colonial state finances to explore the importance of metropolitan identity... View Details
Keywords: Colonial Administration; Quantitative Sources; Governance; Money; Taxation; Trade; History; Africa
Frankema, Ewout, and Marlous van Waijenburg. "Metropolitan Blueprints of Colonial Taxation? Lessons from Fiscal Capacity Building in British and French Africa, 1880-1940." Journal of African History 55, no. 3 (September 2014): 371–400.
- January 2021
- Article
State and Local Government Employment in the COVID-19 Crisis
By: Daniel Green and Erik Loualiche
Local governments are facing large losses in revenues and increased expenditures because of the COVID-19 crisis. We document a causal relationship between fiscal pressures induced by COVID-19 and the layoffs of state and local government workers. States that depend... View Details
Keywords: Local Government; Municipal Finance; Public Finance; Fiscal Capacity; Fiscal Policy; Governance; Local Range; Health Pandemics; Employment; Finance; Policy; Public Sector
Green, Daniel, and Erik Loualiche. "State and Local Government Employment in the COVID-19 Crisis." Art. 104321. Journal of Public Economics 193 (January 2021).
- April 2010
- Article
Endowments, Fiscal Federalism, and the Cost of Capital for States: Evidence from Brazil, 1891-1930
By: Andre C. Martinez Fritscher and Aldo Musacchio
There is a large literature looking at the determinants of country risk (defined as the difference between the yield of a sovereign's bonds and the risk-free rate). In this paper, we contribute to the discussion by arguing that an important explanatory factor is the... View Details
Keywords: Bonds; Performance Capacity; Taxation; Revenue; Governance; Geographic Location; Trade; Price; Cost of Capital; Risk and Uncertainty; Public Administration Industry; Brazil
Martinez Fritscher, Andre C., and Aldo Musacchio. "Endowments, Fiscal Federalism, and the Cost of Capital for States: Evidence from Brazil, 1891-1930." Financial History Review 17, no. 1 (April 2010). (Winner of the Gerry Feldman Young Scholar Prize for the best paper of (a) young scholar(s) of the European Association of Banking and Financial History, 2010-2011.)
- 2009
- Working Paper
Endowments, Fiscal Federalism, and the Cost of Capital for States: Evidence from Brazil, 1891-1930
By: Andre C. Martinez Fritscher and Aldo Musacchio
There is a large amount of literature that aims to explain what determines country risk (defined as the difference between the yield of a sovereign's bonds and the risk-free rate). In this paper, we contribute to the discussion by arguing that an important explanatory... View Details
- 2009
- Working Paper
Endowments, Fiscal Federalism, and the Cost of Capital for States: Evidence from Brazil, 1891-1930
By: Andre C. Martinez Fritscher and Aldo Musacchio
There is a large amount of literature that aims to explain what determines country risk (defined as the difference between the yield of a sovereign's bonds and the risk free rate). In this paper, we contribute to the discussion by arguing that an important explanatory... View Details
Keywords: Trade; Cost of Capital; Revenue; Sovereign Finance; Goods and Commodities; Taxation; Business History; Risk and Uncertainty; Brazil
Martinez Fritscher, Andre C., and Aldo Musacchio. "Endowments, Fiscal Federalism, and the Cost of Capital for States: Evidence from Brazil, 1891-1930." Harvard Business School Working Paper, No. 10-027, October 2009. (Revised December 2009.)
- 10 Nov 2009
- Working Paper Summaries
Endowments, Fiscal Federalism, and the Cost of Capital for States: Evidence from Brazil, 1891-1930
- Research Summary
Overview
Professor van Waijenburg’s research focuses on the historical roots of relative African poverty and state fragility. Where sufficiently reliable and comparable records exist, she creates new datasets from a range of qualitative and quantitative archival sources. The... View Details
- March 2018
- Article
Financing the African Colonial State: The Revenue Imperative and Forced Labor
Although recent studies on African colonial tax systems have deepened our understanding of early fiscal capacity building efforts in the region, they have largely ignored the contributions from a widely used but invisible source of state revenue: that of labor... View Details
van Waijenburg, Marlous. "Financing the African Colonial State: The Revenue Imperative and Forced Labor." Journal of Economic History 78, no. 1 (March 2018): 40–80.
- December 2010
- Case
Financing Higher Education in Australia
By: David A. Moss and Stephanie Lo
Even before Australian lawmakers abolished university tuition in 1973, students in Australia had long benefited from low tuition and large government subsidies. By the early 1980s, however, the nation's universities faced growing budget challenges and an apparent... View Details
Keywords: Economic Slowdown and Stagnation; Higher Education; Borrowing and Debt; Governing Rules, Regulations, and Reforms; Policy; Education Industry; Australia
Moss, David A., and Stephanie Lo. "Financing Higher Education in Australia." Harvard Business School Case 711-047, December 2010.
- 2009
- Other Unpublished Work
Financing Higher Education in Australia
By: David Moss and Stephanie Lo
Even before Australian lawmakers abolished university tuition in 1973, students in Australia had long benefited from low tuition and large government subsidies. By the early 1980s, however, the nation's universities faced growing budget challenges and an apparent... View Details
- 19 Mar 2007
- Research & Ideas
Handicapping the Best Countries for Business
changes, of political instability, of corruption, etc. Q: If you were to boil down the key ingredients needed by a country to create successful economic growth, what would they be? A: Key ingredients (also described in my book's conclusion) include sound View Details
Keywords: by Sean Silverthorne
- 09 Dec 2014
- First Look
First Look: December 9
Download working paper: http://www.hbs.edu/faculty/Publication%20Files/15-016_c6e7c9cc-70a3-4119-bd7b-8e4b25a26312.pdf Technology Choice and Capacity Portfolios Under Emissions Regulation By: Drake, David, Paul R. Kleindorfer, and Luk N.... View Details
Keywords: Sean Silverthorne
- 24 Jan 2005
- Research & Ideas
Rethinking Activity-Based Costing
capacity. We can see that only about 83 percent of the customer service department's practical capacity was actually put to productive use during the first fiscal quarter. Activity Unit Time (minutes)... View Details
Keywords: by Robert S. Kaplan & Steven R. Anderson
- 12 Apr 2022
- Book
Racism, Colonialism, and Britain's Legacy of Violence
accretion of these scandals eroded Britain’s defenses and legitimacy. They also raised questions about the empire’s economic toll. Was Britain’s postwar imperial resurgence strategy a wise one? Had nationalism gotten in the way of fiscal... View Details
Keywords: by Avery Forman
- 07 Jul 2003
- Research & Ideas
4+2 = Sustained Business Success
The companies in each quad began the study period (1986 to 1996) in approximately the same fiscal condition. Yet their fortunes differed dramatically over the decade. One company in each foursome emerged as a winner—it consistently... View Details
- Research Summary
The Institutional Foundations of Lending: Indirect Regulation and State-Building
The Institutional Foundations of Lending: Indirect Regulation and State-Building makes two main theoretical contributions to the scholarship on credit markets and institutional development. First, the book demonstrates that opportunistic lenders can take... View Details
- 15 Nov 2016
- First Look
November 15, 2016
creates a "fiscal risk management" motive: incremental spending that occurs when total government spending is already high is particularly unattractive. A first key insight is that the government's need to manage fiscal risk frequently... View Details
Keywords: Sean Silverthorne
- 24 Sep 2024
- Research & Ideas
Why Small Businesses Deserve More Credit
could lead to substantial growth.” But new research suggests that small businesses are far more fiscally conservative than banks realize. In fact, firms with up to 10 employees hold back spending on their revolving credit lines to create... View Details