Externalities. Incentives, and Economic Reforms:
The paper emphasizes the role of institutions and incentives in the presence of externalities. An economy with multiple public decision makers is likely to experience "overspending," "undertaxing," "overborrowing," and "overinflation" unless effective institut...
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Format: | Elektronisch E-Book |
Sprache: | English |
Veröffentlicht: |
Washington, D.C
International Monetary Fund
1990
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Schriftenreihe: | IMF Working Papers
|
Online-Zugang: | UBW01 UEI01 LCO01 SBR01 UER01 SBG01 UBG01 FAN01 UBT01 FKE01 UBY01 UBA01 FLA01 UBM01 UPA01 UBR01 FHA01 FNU01 BSB01 TUM01 Volltext |
Zusammenfassung: | The paper emphasizes the role of institutions and incentives in the presence of externalities. An economy with multiple public decision makers is likely to experience "overspending," "undertaxing," "overborrowing," and "overinflation" unless effective institutions exist for overcoming coordination failure. External financing may weaken incentives for adjustment over the longer run unless assistance is made conditional on fundamental institutional reforms. The paper also analyzes reforms that strengthen incentives to provide effort. Uncertainty regarding future taxes reduces present effort and the responsiveness of output to market signals. In addition, the paper addresses the adverse effects of bank insurance and soft budget constraints |
Beschreibung: | 1 Online-Ressource (40 p) |
ISBN: | 1451926472 9781451926477 |
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index_date | 2024-07-03T20:13:16Z |
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spelling | International Monetary Fund Verfasser aut Externalities. Incentives, and Economic Reforms Washington, D.C International Monetary Fund 1990 1 Online-Ressource (40 p) txt rdacontent c rdamedia cr rdacarrier IMF Working Papers The paper emphasizes the role of institutions and incentives in the presence of externalities. An economy with multiple public decision makers is likely to experience "overspending," "undertaxing," "overborrowing," and "overinflation" unless effective institutions exist for overcoming coordination failure. External financing may weaken incentives for adjustment over the longer run unless assistance is made conditional on fundamental institutional reforms. The paper also analyzes reforms that strengthen incentives to provide effort. Uncertainty regarding future taxes reduces present effort and the responsiveness of output to market signals. In addition, the paper addresses the adverse effects of bank insurance and soft budget constraints Online-Ausg International Monetary Fund Sonstige oth http://elibrary.imf.org/view/IMF001/14850-9781451926477/14850-9781451926477/14850-9781451926477.xml Verlag URL des Erstveröffentlichers Volltext |
spellingShingle | Externalities. Incentives, and Economic Reforms |
title | Externalities. Incentives, and Economic Reforms |
title_auth | Externalities. Incentives, and Economic Reforms |
title_exact_search | Externalities. Incentives, and Economic Reforms |
title_exact_search_txtP | Externalities. Incentives, and Economic Reforms |
title_full | Externalities. Incentives, and Economic Reforms |
title_fullStr | Externalities. Incentives, and Economic Reforms |
title_full_unstemmed | Externalities. Incentives, and Economic Reforms |
title_short | Externalities. Incentives, and Economic Reforms |
title_sort | externalities incentives and economic reforms |
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