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Zonder onderwerpscode

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In October 1956, a spontaneous uprising took Hungarian Communist authorities by surprise, prompting Soviet authorities to invade the country. After a few days of violent fighting, the revolt was crushed. This collection focuses on the impact of the revolution in Hungary, in Canada, and around the world.

Hungarians --- History. --- Hungary --- History

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We show that a dynamic general equilibrium model with efficiency wages and endogenous capital accumulation in both the formal and (non-agricultural) informal sectors can explain the full range of confounding stylized facts associated with minimum wage laws in less developed countries.

Labor --- Macroeconomics --- Employment --- Unemployment --- Wages --- Intergenerational Income Distribution --- Aggregate Human Capital --- Aggregate Labor Productivity --- Labor Demand --- Wages, Compensation, and Labor Costs: General --- Labor Economics: General --- Labour --- income economics --- Real wages --- Informal employment --- Economic theory --- Labor economics --- South Africa

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We show that a dynamic general equilibrium model with efficiency wages and endogenous capital accumulation in both the formal and (non-agricultural) informal sectors can explain the full range of confounding stylized facts associated with minimum wage laws in less developed countries.

South Africa

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Effective public investment requires governments to address the "recurrent cost problem" to ensure operations and maintenance (O&M) expenditures are sufficient to sustain the flow of productive public capital services to private factors of production. Building on the model of Buffie et al (2012), this paper explores the macroeconomic implications of this recurrent cost problem and its resolution in a context that recognizes that taxation is distortionary. The model is also used to examine stylized fiscal reforms including the replacement of a distortionary output tax with a uniform consumption tax and budgetary reforms that restore O&M expenditures to their efficient levels. These experiments are stylized but clearly demonstrate the material consequences of the tax and public expenditure structures for growth and debt sustainability in low-income countries.

Public investments. --- Finance, Public. --- Economic development. --- Taxation. --- Duties --- Fee system (Taxation) --- Tax policy --- Tax reform --- Taxation, Incidence of --- Taxes --- Finance, Public --- Revenue --- Development, Economic --- Economic growth --- Growth, Economic --- Economic policy --- Economics --- Statics and dynamics (Social sciences) --- Development economics --- Resource curse --- Cameralistics --- Public finance --- Public finances --- Currency question --- Government investments --- Investments, Public --- Expenditures, Public --- Investments --- Capital budget --- Economic development projects --- Investment of public funds --- Finance --- Macroeconomics --- Public Finance --- Taxation --- Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook: General --- Fiscal Policy --- Macroeconomic Analyses of Economic Development --- Fiscal and Monetary Policy in Development --- National Government Expenditures and Related Policies: Infrastructures --- Other Public Investment and Capital Stock --- National Government Expenditures and Related Policies: General --- Business Taxes and Subsidies --- Macroeconomics: Consumption --- Saving --- Wealth --- Public finance & taxation --- Public investment and public-private partnerships (PPP) --- Expenditure --- Consumption taxes --- Consumption --- Fiscal policy --- Public-private sector cooperation --- Spendings tax