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Public Economics - Science topic

Public economics is the study of government policy through the lens of economic efficiency and equity.
Questions related to Public Economics
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I am writing to express my strong interest in contributing to research within the field of Economics. As a postgraduate student at TERI university, I possess a keen interest in economics/econometrics/public economics. I am eager to gain valuable research experience by assisting with data collection, analysis, literature reviews and the writing process.
I am available to discuss my qualification further and explore potential research collaborations.
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Look for research opportunities in Economics/Econometrics/Public Economics by exploring academic job boards (e.g., EconJobMarket, SSRN), connecting with faculty at universities, applying to research institutes, attending conferences, and joining professional networks like the American Economic Association.
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Will a 5% ten year in 2024 and a impending maturity wall of required U.S.Treasury refinancings lead interest on the debt overtake Defense, Social security,and Medicare as the single largest line item in the Federal budget?How can a government so indebted pay a mkt rate?
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U.S. debt offers the safest heaven for Chinese forex reserves, which effectively means that China offers loans to the U.S. so that the U.S. can keep buying the goods China produces. As long as China continues to have an export-driven economy with a huge trade surplus with the U.S., it will keep piling up U.S. dollars and U.S. debt. Chinese loans to the U.S., through the purchase of U.S. debt, enable the U.S. to buy Chinese products. It’s a win-win situation for both nations, with both benefiting mutually. China gets a huge market for its products, and the U.S. benefits from the economical prices of Chinese goods. Beyond their well-known political rivalry, both nations (willingly or unwillingly) are locked in a state of inter-dependency from which both benefit, and which is likely to continue.
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I would like to refine my research topic and may be find some researchers who would be interested in collaboration with me.
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Most of the political instruments that are also used in ecological and behavioral economics come from the field of public economics. Most of the theoretical elements were also taken from this research field. One can therefore certainly say that these newer teaching and research areas emerged from public economics.
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What is the difference between real growth rate estimation and growth rate (annual or compound) estimation. is there any formula. is it necessary to use regression method to estimate real growth rate.
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In general, calculating real GDP is done by dividing nominal GDP by the GDP deflator (R). For example, if an economy's prices have increased by 1% since the base year, the deflating number is 1.01. If nominal GDP was $1 million, then real GDP is calculated as $1,000,000 / 1.01, or $990,099.
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What socio-economic policy is appropriate for reducing poverty and social exclusion in contemporary social market economies?
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Dear Friends and Colleagues of RG,
The issues of specific programs to improve the economic, financial, material and housing situation of households as key instruments of pro-development state intervention and significant components of the socio-economic policy of the state I described in the publications:
I invite you to discussion and cooperation.
Best wishes
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Gioacchino de Candia You are right, but not all dogs are the same.
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Do you agree with my opinion that in the context of the forecasted slowdown in the economic growth of many countries in 2019, policies for activating entrepreneurship and innovation should be developed within the framework of active, pro-development, anti-crisis, Keynesian, national socio-economic policies?
Please reply
Best wishes
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Entrepreneurship and innovation at the level of small and medium enterprises, represent the "core" of the economy at European level, especially since a percentage of over 80% of the number of companies at European level is represented by SMEs.
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In highly developed countries and economically fast developing countries there are analogous processes of changes in the demographic structure of society consisting in the aging of the population and the accompanying process of depopulation of cities, agglomeration, decreasing number of births, decreasing fertility rate in families. These processes, which are unfavorable for the economic development of the country, usually have at least several causes.
Extending the average life expectancy of citizens results from improved living standards, increased income and related improvements in quality of life, improvement of nutrition and improvement in the health care services sector. In addition, some of the lowly, educated people go to look for more interesting jobs and higher salaries by hiring in other countries. In a situation where young people paying off housing loans, are also burdened with various taxes, they are forced to work, to professional activity all adult members of the family of working age.
As a result, the pressure, the need to have more than 1 or 2 children are decreasing, and then the fertility decreases, which contributes to the decline in the number of citizens in the long term. In order to counteract this disadvantage for the national economy, this country should develop social policy to support young people, including subsidizing the purchase or rental of housing, establishing guaranteed income related to raising children, developing programs supporting the nursery, pre-school and education, pediatric health care system, etc.
Examples of such programs of active socio-economic policy are: Family 500 Plus Program and Flat Plus Program (Mieszkanie Plus Program). Because these programs have been developed only for 3 years, so you can not objectively assert how they affect the demographic structure of society, or motivate you to make decisions about having a larger number of children. In order to be able to answer this type of questions objectively, ie with regard to relevant scientific data, these Programs should be conducted with a minimum of 2-3 subsequent generations of citizens.
On the other hand, there has already been a noticeable increase in consumption for various types of goods purchased by citizens, which has a pro-development effect on the economy as it increases the level of economic growth. It may be one of the key elements of the socio-economic policy of anti-crisis, countercyclical importance, ie increasing the resilience of the domestic economy to global economic crises and the slowdown in global economy growth, e.g. the currently observed slowdown in global economy caused by the so-called war wars and other restrictions on the development of international trade.
In the context of the above issues, I am asking you the following question:
How can changes in the demographic structure of society affect the economic development of the country?
Please reply
I invite you to the discussion
Thank you very much
Best wishes
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The
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Analysis of guaranteed income as a key element of pro-development, anti-crisis, anti-cyclical socio-economic policy?
Can guaranteed income be an effective instrument for pro-development, anti-crisis, counter-cyclical and, under certain economic conditions, Keynesian socio-economic policy?
What should be the state of state finances, what level of security, indebtedness, possible public debt and budget deficit would be possible to enter guaranteed income into the policy of socio-economic policy?
How should a system of guaranteed income rationing be established in the society in order for this instrument to effectively increase the level of consumption and investment in the economy?
Should a system of income guaranteed rationalization be built so that this instrument of pro-development, anti-crisis, anticyclical socio-economic policy would also meet the long-term goals of counteracting unfavorable changes in the demographic structure of society, i.e. the aging population in a given country?
I have answered these questions in my scientific publications whose links I have posted below.
In view of the above, inviting you to discuss the above issues, I am asking you the following question:
How should a guaranteed income system be built as part of a pro-development socio-economic policy?
Please reply
I invite you to discussion and scientific cooperation
Dear Friends and Colleagues of RG
The issues of specific programs to improve the economic, financial, material and housing situation of households as key instruments of pro-development state intervention and significant components of the socio-economic policy of the state I described in the publications:
I invite you to discussion and cooperation.
Best wishes
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Guaranteed minimum income or similar instruments of social policy could turn out to be one of the important elements of the anti-crisis socio-economic policy applied in order to limit the scale of the decline in consumption, the increase in the downturn, etc. during the SARS-CoV-2 (Covid-19) coronavirus pandemic.
Best regards,
Dariusz Prokopowicz
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In my opinion, the improvement of pro-development instruments of socio-economic policy is particularly important in a situation of a downturn in the economy.
Currently, this issue is particularly important in connection with the forecasted decline in the rate of economic growth in 2019.
In the context of the above issues, the following question is valid:
What pro-development instruments of socio-economic policy carried out according to the concept of Keynesian economics are currently the most effective in the area of economic growth as measured by, for example, the Gross Domestic Product index?
I invite you to the discussion
Dear Friends and Colleagues of RG
The issues of specific programs to improve the economic, financial, material and housing situation of households as key instruments of pro-development state intervention and significant components of the socio-economic policy of the state I described in the publications:
I invite you to discussion and cooperation.
Best wishes
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Multiplier impact: consumption
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The private sector offering services, private goods usually implements this process more economically in terms of costs and expectations of customers compared to the offer of the public sector. In order to increase this efficiency, creation and provision of public goods to consumers is often ordered by the state sector, ie by central state administration institutions and or by local government units and commissioned to be produced for private sector enterprises through organized tenders. These tenders are a kind of competitions, during which the best offers are selected, taking into account the criterion of economic effectiveness of the delivery of certain goods, costs and time of completion and the quality of delivered public goods. The investment programs of public-private partnerships are being developed in the scope of the creation and supply of public goods that require large financial outlays, such as in the situation of construction of large power plants, eg nuclear power plants.
In view of the above, the current question is: How to increase the efficiency of state delivery of public goods?
Please, answer, comments. I invite you to the discussion.
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Dear Vladimir Fagundes,
Thank you for answering the question:
How to increase the efficiency of state delivery of public goods?
You indicated the key factors of improving institutional solutions for creating and offering public goods to citizens and the important factors of developing cooperation between institutions of the public and private sector.
Thank you, Greetings,
Dariusz Prokopowicz
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In modern economies, various instruments of budgetary and fiscal policy are used, supporting the activities of business entities, and also instruments of socio-economic policy, including housing, etc., aimed at activating economic processes.
In view of the above, does Keynesian state interventionism mainly activate growth or economic development?
Please reply
Dear Friends and Colleagues of RG
The issues of specific programs to improve the economic, financial, material and housing situation of households as key instruments of pro-development state intervention and significant components of the socio-economic policy of the state I described in the publications:
I invite you to discussion and cooperation.
In 2020, there was an economic crisis caused by the SARS-CoV-2 (Covid-19) coronavirus pandemic and lockdowns imposed on various service industries. In order to mitigate the negative, recessionary effects of the pandemic, the so-called economic programs were used. Anti-crisis shields consisting in the applied large-scale public financial aid to commercial business entities. The issue of activating entrepreneurship as an important element of the anti-crisis socio-economic policy applied during the economic crisis caused by the SARS-CoV-2 (Covid-19) coronavirus pandemic in 2020 was described in my article published at the end of December 2021. I am providing a link to this article:
I invite all those who study this subject to research cooperation.
I invite everyone to the discussion,
Thank you very much,
Best regards,
Dariusz
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Growth as it aims to impact Aggregate Demand
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Has any of you studied the economic and financial situation, including the material and housing situation of households against the background of a specific socio-economic policy of the state?
If so, please comment on the results of the research or link to the publication in which the results of the research have been published.
What interventionist, pro-development instruments should be applied within the socio-economic policy of the state in order to improve the economic and financial standing of households?
Please reply
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Much has changed in the economy over the past few months due to the SARS-CoV-2 (Covid-19) coronavirus pandemic. Construction industry companies received financial public aid. Therefore, the construction investments started in previous years could be completed in 2020. Consequently, the construction sector was one of those sectors where many jobs were saved despite the economic crisis.
Regards,
Dariusz Prokopowicz
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What instruments of state intervention are applied in your country as part of a pro-development, anti-crisis, counter-cyclical, Keynesian socio-economic policy and pro-social housing policy?
In some developing countries, pro-development, anti-crisis, countercyclical, Keynesian socio-economic policies and pro-social housing policies are currently underway, which are a significant determinant of high economic growth and provide citizens with material and economic well-being. In individual countries, analogical instruments of state intervention are usually used as part of pro-development, anti-crisis, counter-cyclical, Keynesian socio-economic policy and pro-social housing policy.
The applied state intervention instruments also contribute to the activation of innovation and entrepreneurship, reduction of unemployment, investment growth, income and consumption. In individual countries, analogical instruments of state intervention are usually used, including selected instruments of fiscal, budgetary and monetary policy, however, in a different structure of the use of individual instruments and a different share of their financing from the public finances of the state.
In view of the above, I am asking you the following question:
What instruments of state intervention are applied in your country as part of a pro-development, anti-crisis, counter-cyclical, Keynesian socio-economic policy and pro-social housing policy?
Please reply
I invite you to discussion and scientific cooperation
Dear Friends and Colleagues of RG
The issues of specific programs to improve the economic, financial, material and housing situation of households as key instruments of pro-development state intervention and significant components of the socio-economic policy of the state I described in the publications:
I invite you to discussion and cooperation.
Best wishes
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Thank you for the kind words and the positive recommendation of the topic taken on the RG discussion forum. You have added to our discussion important issues and examples of activating investments as part of pro-development socio-economic policy implemented in Ethiopia. The examples given by you perfectly match the issues of anti-crisis and pro-development programs of motivating the private sector to investments through specific financial instruments of the public sector discussed in this discussion.
Have a nice day, Stay healthy! Best wishes,
Dariusz Prokopowicz
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Why did the governments of many countries, despite a good economic situation, not reduce the debt of public finances of the state and budget deficits in the state budgets?
Unfortunately, for several decades in most countries permanently budgets of public finances, state budgets are unbalanced, they are usually in deficit. Such a situation generates the risk of excessive indebtedness and loss of liquidity in public finances of the state. In a good economic situation, deficits tend to fall, but in a period of declining economic growth, deficits are rising and there is a risk of a public finance crisis. In such a situation, the state, in order to maintain liquidity, raises interest rates on treasury bonds in order to find buyers from domestic and foreign investors. This problem appeared in the countries of the south of Europe after the appearance of the global financial crisis in the autumn of 2008.
In connection with the above, the governments of individual countries should from year to year reduce the state of public finance debt, ie reduce public debt and budget deficit. However, for many years, in many countries, public debt and budget deficit, despite good economic conditions, were not reduced despite good economic growth. Why despite the good economic situation in the 90s and the beginning of the 21st century, ie before the emergence of the global financial crisis in 2008, public debt of the state finances and budget deficit in the state budget were not significantly reduced or reduced?
A fully balanced state budget should not have any deficit. Why do not the governments of many countries care about this issue and forward this unresolved problem of state funs to the subsequent ruling teams? Perhaps the answer to this question arises from this question. Well, usually several summer political cycles of exercising power by a specific government team are not correlated with the period of the business cycle.
Do you agree with me on the above matter?
In the context of the above issues, I am asking you the following question:
In connection with the above, I ask: Why did the governments of many countries, despite a good economic situation, not lower the debt of public finances of the state and budget deficits in the state budgets?
Please reply
I invite you to the discussion
Thank you very much
Dear Friends and Colleagues of RG
This issue is described in the following publication:
I invite you to discussion and cooperation.
Best wishes
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Cutting government spending can increase the budget deficit at zero interest rates according to a standard New Keynesian model, calibrated with Bayesian methods. Similarly, increasing sales taxes can increase the budget deficit rather than reducing it. Both results suggest limitations of ‘austerity measures’. At zero interest rates, running budget deficits can be either expansionary or contractionary depending on how they interact with expectations about long‐run taxes and spending. The effect of fiscal policy action is thus highly dependent on the policy regime. A successful stimulus, therefore, needs to specify how the budget is managed not only in the short but also medium and long run... Denes, M., Eggertsson, G. B., & Gilbukh, S. (2013). Deficits, public debt dynamics and tax and spending multipliers. The Economic Journal, 123(566), F133-F163.
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Do you think that the Family 500 Plus and Mieszkanie Plus programs as key social and host policy programs significantly increase the country's GDP?
Do you think that these programs are mainly social or investment in the context of long-term, prospective socio-economic policy?
Will these programs, after their many years of application, contribute to a significant increase in fertility and thus slow down the unfavorable economically progressive change in the demographic structure of society identified as aging (and thus reduce the risk of a strong deficit in the finances of the participatory pension system serviced in the future by Social Security?)?
How many years in the future do you think these programs should still be run under an active socio-economic policy so that you can fully objectively diagnose their real effectiveness in terms of slowing down, stopping the aging process and assessing the scale of investment functions of these programs in macroeconomic terms?
Do you conduct scientific research in this field? If so, I invite you to cooperation.
Please reply
I invite you to the discussion
Thank you very much
Best wishes
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In which economic conditions, active housing policy, under which new housing estates are being built on a large scale, can be an effective instrument for pro-development, Keynesian, counter-cyclical state interventionism?
How should the state run an active, investment housing policy within which new housing estates are being built on a large scale in order to support balanced economic development without generating credit risk growth and subsequent economic crises as part of pro-development, Keynesian, anti-cyclical state intervention?
Please reply
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Addressing social housing shortages with housing investments can have a multiplier effects.
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Is the minimum and guaranteed income introduced in some countries a good instrument of pro-development socio-economic policy?
Are such instruments of socio-economic policy an effective anti-crisis measure on the situation of slowing economic growth?
In addition, as part of technical progress in many branches of the economy, human work is being replaced by computers, machines, robots, and artificial intelligence.
Therefore, work for people may be missing in the future. Perhaps the minimum and guaranteed income will be a good solution to this problem?
Please reply
Best wishes
Dear Friends and Colleagues of RG,
The issues of specific programs to improve the economic, financial and material situation of households as key instruments of pro-development state intervention and significant components of the socio-economic policy of the state I described in the publications:
I invite you to discussion and cooperation.
Best wishes
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Universal credit can have a good multiplier impact.
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Does any of you study the problems of shaping socio-economic policy, whose aim is to improve the economic, housing and social situation of citizens or households? The aim of this type of policy is to increase the incomes of the population, in particular the poorer middle class in the society of a given country. The increase in consumption is the result of increased consumption and savings. As a result, the demand for consumer and capital goods is growing, production and investments are growing, and consequently accelerating economic growth of the national economy is recorded. A derivative of this process is an increase in tax revenues to the state budget due to the growing tax base, i.e. growing income and expenses. In this way, the state as an economic entity can further develop an active socio-economic policy. I conduct research on this subject.
Please, answer, comments.
I invite you to the discussion.
Dear Friends and Colleagues of RG
The issues of specific programs to improve the economic, financial, material and housing situation of households as key instruments of pro-development keynesian anti-crisis state intervention and significant components of the socio-economic policy of the state I described in the publications:
I invite you to discussion and cooperation.
Best wishes
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Why are the SARS-CoV-2 Coronavirus pandemic SARS-CoV-2 not being implemented or implemented to a very limited extent in the construction sector under the anti-crisis shields launched in individual countries, which aim to quickly restore the economy after the Coronavirus pandemic?
Many economic data already support the thesis that the impact of the SARS-CoV-2 Coronavirus pandemic on the global economy is likely to be very large. Many enterprises in the tourist, hotel, catering, cosmetics services, etc. are currently losing most, almost all, or all customers because people are afraid of SARS-CoV-2 coronavirus infection (causing Covid-19) and this is also due to various restrictions moving away from home and introducing an order or recommendation to stay at home as part of preventive quarantine in many countries. As a result, many companies are already recording large declines in sales and profits, limiting employment and / or stopping their business. In connection with these negative aspects of the deepening recession, many current economic data already confirm the thesis that probably now (April 2020) in many countries an economic crisis is beginning, which may after a few months turn into a debt crisis of the state finance system. If this situation occurs in many countries, then in 2020 the global economy will most likely slow down its growth by several percent. compared to the previous year. Therefore, it is necessary to permanently improve and increase the scale of anti-crisis socio-economic policy planned, developed and implemented both at the level of individual countries as well as within coordinated international activities. In some countries, pro-development, interventionist, anti-crisis programs have already been launched to save business entities from mass bankruptcy by introducing additional temporary tax breaks or exemptions, subsidies to employees' remuneration under fiscal policy. On the other hand, as part of monetary policy, central banks reduce interest rates, launch loans for commercial banks on preferential terms, buy lost loans from commercial banks and / or implement sovereign bond buy-back programs to maintain liquidity in the commercial and public financial system of the state. However, interventionist economic policy programs involving the launch of large investment projects in the construction sector financed from the public finance system funds are used to a limited extent. Does the period of economic downturn caused by the development of the SARS-CoV-2 Coronavirus pandemic and the introduced anti-pandemic safety instruments (temporary suspension of production in many enterprises and the closure of many service plants) last too short to launch large investment projects in the construction sector, or is it lacking type of money goals in the state finance sector? After all, such development-oriented instruments would create many jobs and could be an important factor in anti-crisis economic policy. Regardless of what exactly large investment projects would relate to, whether they would be programs for the construction of housing estates or the construction of large communication infrastructure facilities for the development of car communication arteries, highways, new power plants as part of the development of renewable energy sources, renovation of railway stations, expansion of airports, facilities rainwater retention system, etc., during the implementation of each of these investments many new jobs would be created and new infrastructural durable economic goods would be created, thanks to which in the following years economic processes would be carried out more efficiently and efficiently.
In connection with the above, I am asking you the following question: Why are the SARS-CoV-2 Coronavirus pandemic SARS-CoV-2 not being implemented or implemented to a very limited extent in the construction sector under the anti-crisis shields launched in individual countries, which aim to quickly restore the economy after the Coronavirus pandemic?
Please reply,
What is your opinion on this topic?
I am asking for an answer and invite you to a discussion,
Thank you very much and best regards,
Dariusz Prokopowicz
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In which sectors of the economy, types of economic activity should be used development-oriented socio-economic policy to stimulate the economic processes of the entire economy?
This issue is particularly important now, ie in the period of the forecasted slowdown in economic growth in many countries for 2019.
What types of business ventures should be supported by state bodies and co-financed from the state budget?
What types of public goods should be developed as part of a pro-development socio-economic policy?
What types of investment projects, eg in communication, energy and IT infrastructure, should be developed with state support?
What economic policy should be actively pursued by the state? Is monetary policy (eg purchase of assets lost by central banks from commercial banks), fiscal policy (eg lowering certain categories of taxes), housing policy (eg building housing for the poorest citizens), social policy (eg subsidies for setting up a business in the form of a micro-enterprise) etc.?
Please, answer, comments.
I invite you to the discussion.
Best wishes
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It should be used in all economic and social activities, whereever and whenever possible.
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As from theoretical construct and empirical literature, i have found that tax base is defined as - tax revenue divided by tax rates. if the standard data on tax rates are not readily available, than how we can estimate tax base for central and state level ?? What could be the other suitable proxies for measurement of tax base ??
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Hi, Yadawananda Neog. I usually consult these following webpages in studying effective tax rates:
I hope they would be helpful for you.
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In some countries a minimum guaranteed income for citizens is introduced. In individual countries, various arguments are given for such a socio-economic policy. I described the key arguments in favor of introducing the Family 500 Plus Program in Poland, which is a kind of social policy instrument of this kind.
Do you agree with me on the above matter?
In the context of the above issues, I am asking you the following question:
How would you rate the introduction of minimum income as part of the socio-economic policy of the state?
Please reply
I invite you to the discussion
Thank you very much
Best wishes
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I personally do not like distinctions between deserving and undeserving poor as they try to suggest that poverty is self selected. I think that poverty has structural causes and not everybody who wish to work is able to find employment. In the USA there is also the phenomena of the working poor, meaning that at times an income does not take people out of poverty. Not sure, if it is correct, but I heard of cases where people need at least two jobs to escape poverty. Maybe those who are more familiar to conditions in the USA can contribute....
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Can value judgments in normative economics generate abuses of unreliable use of economic knowledge for the purposes of designing socio-economic policies?
In my opinion, economics is a neutral science in terms of valuation. In my opinion, it is not only neutral in terms of valuing the processes of host reality described by economic concepts, but should be neutral. One of the areas of economics in which value judgments are allowed is normative economics referring to the assessment of economic processes that will occur in the future or which are planned for implementation in the future. In this respect, economics is a tool for debates, discussions, brainstorming at the academic level but also in the pre-election debates in the world of politics. However, often the economics used for the needs of politicians, in the field of electoral programs, social and economic policy projects are created abuses. Often in such political applications of economic knowledge selectively selectively some theories, concepts from the history of economic thought, selected economic laws, specific dependencies, etc. which perfectly serve to explain the legitimacy of the application of a specific socio-economic policy, but usually do not include the holistically described economic reality, they do not represent all economic knowledge comprehensively.
Please reply
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If we start from this assumption, that efficiency is desirable is a core value judgment in economics, so, if we can judge that from a point view of gains, than your question will be treated in depth, specialy, in valuating normative economics.
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Activation of innovativeness and entrepreneurship of economic processes, especially in the field of stimulating the business activity of enterprises from the SME sector is the key issue of potential improvement of the economic growth rate of the country, increase in employment, production, investments, income, etc.
Activation of innovation and entrepreneurship of economic processes is also one of the key determinants of pro-development, counter-cyclical, interventionist economic policy.
In connection with the above, I am asking you the following question:
In your opinion, what are the most effective instruments for activating innovation and entrepreneurship in economic processes?
Please reply
Best wishes
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Activating innovation requires that an environment that encourages recreative thinking, sustainability of the business idea. There is need to build a network of groups for synergy building and information sharing. There is also a need to mentor the entrepreneurial disposition of the individual so that he can muster motivation
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Many prognostic macroeconomic studies suggest a slowdown in economic growth in 2019.
Therefore, it is important to develop a countercyclical, anti-crisis, interventionist, active, pro-development socio-economic policy.
In connection with the above, it is current and important to formulate the answer to the following question: What socio-economic policy is appropriate for the period of slowdown in economic growth?
What instruments of socio-economic policy should be applied?
What sectors of the economy, which industries, what types of economic activities should be activated and supported by specific instruments of socio-economic policy to revive economic processes throughout the economy?
What instruments of fiscal, social, housing policy etc. should be used in modern economies to revive economic processes throughout the economy?
Please, answer, comments.
I invite you to the discussion.
Dear Friends and Colleagues of RG
The issues of the economic, financial, material and housing situation of households against the background of the state's economic policy have been described in the publications:
I invite you to discussion and cooperation.
Best wishes
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Rafiq Idris nails it. I 100% agree with his comments. First of all, in case of economic slowdown, the fiscal policy automatically turns expansionary due to automatic stabilizers. Second, this expansionary fiscal policy stance can be augmented by expansionary discretionary fiscal policy as well. If the slowdown is severe, of course, we'll all see expansionary monetary intervention by the Fed and other central banks around the world. The question boils down to finding the optimal combination of fiscal and monetary intervention.
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What are key topics for phd in public economic and taxation policy ?
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Dear Sir Charbel Chedrawi kindly did you think the digital economic have impact to the taxation policy or not ?
thanks
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how to calculate tax rate for overall economy if the tax rates for different heads are not available ?? i have found 2 measures in literarures (1) tax revenue to gdp ratio as avarage tax rate (see Taner Turan et al. 2014, Jayawickrama and Abeysinghe 2013) (2) Empirical works of Rudi Kurniawan (2011), Mesut KARAKAS (2014) etc estimated overall tax rate as central govt tax revenue divided by GDP. Which tax rate is representative one for whole economy? And Why ?? What is the logic to said it as tax rate in Public finance ??
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Marcos Cintra Cavalcanti de Albuquerque thanks you sir for your reply. the total revenue your are talking about, is it the total revenue of the central government or only total tax revenue ?
i have gone through various literature but the concrete definition and theoretical justification for measuring gross effective tax rate is not found. Any suggestions and literature is highly appreciable.
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how to calculate tax rate for overall economy if the tax rates for different heads are not available ?? i have found 2 measures in literarures (1) tax revenue to gdp ratio as avarage tax rate (see Taner Turan et al. 2014, Jayawickrama and Abeysinghe 2013) (2) Empirical works of Rudi Kurniawan (2011), Mesut KARAKAS (2014) etc estimated overall tax rate as central govt tax revenue divided by GDP. Which tax rate is representative one for whole economy? And Why ?? What is the logic to said it as tax rate in Public finance ??
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List of scopus indexed journals with free publication in Economics
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Mr. Ajibola, you may find Scopus-indexed journals in Economics and Management that do not charge a submission fee at this web page:
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Many pieces of research in the area of public procurement focus on Small to Medium Size Enterprises, but there seems to be a paucity of research in the area of micro-enterprises within the same field. Is this common across other fields as well?
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in Russia our study of the English language. I hope it will be of interest to you
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An increase in employment in a particular sector is the sign of its enhanced growth. My questions is: Can increased employment in a sector reduces its growth? If possible, what can be the possible reasons and justification for such a relationship.?
Thank you
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Thank you Sir Andrea Salanti for adding more explanation to Neil's answer.
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Since the GDP has long been debunked as a measure for well-being, what other tools are there that have been globally accepted?
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I suggest you to use the compound Index of "GDP per capita" and "Gini coefficient".
and I should note that Harvey Leibenstein in the first chapter of his book named "Economic Backwardness and Economic Growth" dispute and consider "GDP per capita" as the comprehensive indicator for economic development. and for a perfect index you can combine  "Gini Coefficient" with it.  
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Trying to research the causes and effects of 2008's economic crisis
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Technicalities are post mortems, but scientifically important to study, e.g. the methodical misuse of maths, physics, data science, ...The psychological school of economics focuses on human thought and action, i.e. the statistical presentation of economic 'facts' is always a methodically crafted artifact that claims to be value-free. The moral or ethical argument is ignored, because the driving factor is the material interest of certain groups or players. No morality without immortality, to cite Dostoievski. Alternatively, we can cite Zarko Petan (1929-2014): The truth will win in the end, but we are still at the beginning.
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 for eg:
debt/ gsdp (gross state domestic product)
tax/ gsdp (gross state domestic product)
debt/ gsdp (gross state domestic product)
tax/ gsdp (gross state domestic product)
Fiscal space = [Total Revenue receipts – (Revenue expenditure on Interest Payments and Servicing of Debt + Revenue expenditure on Administrative Services) + Loans from the Centre] / Total Revenue receipts.
Intergovernmental transfers/ total revenue (total revenue is a combination of own revenue + intergovernmental transfers) is one of the methods of measuring level of dependency of sub national governments on higher level of governments for funds. In this case both vary? What is the remedy for this?
Is it Intergovernmental transfers/ total expenditure? Here also both Denominator and Numerator vary?
What is the justification given in the literature in which these type of variables are widely used in the analysis?
please reply or suggest material to refer.
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Dragos C Radu sir thanks for your response.
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What literature do you recommend for capital budgeting methods (NPV,IRR,ARR, and Payback period in decision making?
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You may refer to the following links which contain papers on use of capital budgeting methods in decision making & the frequency of their use:
Hope this helps.
Hemlata
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Low and middle income countries have large informal sector that are not captured in the tax net. This is a serious challenge in tax administration.
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There is a very large literature on this subject which you may not have seen because it is classified under the heading of 'informal economy', 'shadow economy', 'undeclared work', hidden economy' etc. This literature approaches the subject using broadly either indirect measurement methods, which uses data collected for other purposes to estimate its size, or direct surveys. The former tend to produce larger estimates than the latter.
To get you started, have a read of the following
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In recent years, there has been growing concern about the growth of what is called either 'bogus' or 'false' self-employment across many governments in Europe and beyond. I am interested to find out whether any research has been conducted on this issue.
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Interposed entities in Australia are covered in my thesis 'Miners' Motivation'.  The practice received a lot of attention in Australia in the 1980s.  It might be worth a look at the thesis.
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Dear all,
Based on research and a wide range of evidence from both public and private sector organizations both in Australia and overseas, the best practices guide on budgeting produced by the Australian National Audit Office (ANAO) in June 2008 details the characteristics and key elements of effective budget management. The guide examined effectiveness of the budget management system at best practice public organizations across three broad dimensions i.e. Embedding the budgeting processes into organizational planning and management; developing and implementing a comprehensive budget; and monitoring and evaluating budgeting performance. These elements were augmented by validation from the literature carried out as part of my study, where it emerged that essential factors that determine effectiveness of the budgeting in both public and private organizations seem to coalesce around these three interrelated elements. So, my question is can i use these three key elements in my case study research, as a means to devise a conceptual framework, for evaluating effectiveness of the budget management system in one public hospital located in Ethiopia, with appropriate modifications to reflect its context?
Thanks in advance for your valuable comments.
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Dear Gedion,
I think it is a good idea to rely on a pre-existing framework for the sake of assurance and controllability. I think it is pretty difficult to develop your own framework from scratch that will be of a quality required by practice and by academia. Also, if you develop your own idea of something going beyond the established framework or even challenging it, you can test your idea against the framework and you will have a reliable source of reference.
Paul
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Hello everyone,
I'm working on data from the World Value Survey Longitudinal Dataset and a time-constant variable of heterogeneity at the country level. I would like to perform a multilevel analysis with cross-level interaction effect, such as:
Yij=f(Xij, Zj, Xij*Zj)
Yij is a 10-point Likert scale variable;
Xij is a constructed dichotomous variable from a Likert scale;
Zj is a continuous variable, ranges between 0 and 1 and is time-constant;
When running a random-intercept random-slope multilevel model in Stata, the coefficient of Zand interaction term is not significant.
I was wondering if there is a way to assess if these results depend on the fact that the variable is time-constant and varies only across countries and how to take this characteristic into account.
Thank you for any advice and suggested literature,
AM
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Am trying to use Sharpe and Treynor's ratio but will welcome any suggestion and if possible sources and or market data not older than 2013.
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Dichotomy in Value Chain Upgrading Approaches: A Comparative Study in Processed Millet and Banana Wine Sub-Sectors
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I am trying to find positive or negative effects of distributing of large sums of intergovernmental transfers in the sense of additional expenditures they may require from the budget-recipient. If the extra outlays are indeed caused could it be the case for unconditional transfers (grants) to be considered as a better instrument for providing the local budgets with the funds the need?
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Dear Evgeny,
I can’t remember any particular paper with estimation of earmarked grants effect on expenditure but in theory if we talk about matching grants they are designed to push local (regional) governments to spend money according to the goals of central (federal) government. In this case, local governments spend more comparing the situation without grants.
In the case of general grants local government spend money according to their own preferences. In this sense, general grants are more preferable for grant receivers (local governments).
See, for example, this book on different type of grants.
And if you have a look on the grants for financing National Projects in Russia in the 2005-2007 I’ll bet you’ll find a regional expenditure growth.
Regards,
Natalia
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Could someone please provide details of research/publications regarding  general recipes and practical directions for successful NPM change initiatives in the public sector?
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You may wish to read these two articles:
1) Galetto and Marginson (2011) where the NPM established more independent public sector providers, particularly in the health sector, for instance turning English NHS hospitals into Foundation Trusts at arm's length from direct government control: https://www2.warwick.ac.uk/fac/soc/wbs/research/irru/wpir/gusto_papers/gust_wp6_4.pdf
2) Bossert et al. (2003) where performance improvements by service providers in Zambia have been rewarded with greater freedom from government control. DOI: 10.1093/heapol/czg044.
Hope they are of help.
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There has been a lot of discussion about the need for a Basic Income Grant in the past couple of years, both in developed and developing countries. It appears, according to many experts, that Schumpeter's famous idea of "creative destruction" as an essential feature of capitalism no longer holds true. Even jobs requiring advanced knowledge and skills are being destroyed, without the prospect of new and equally good jobs being created, If this trend is accurate, how are we to respond? The Basic Income Grant appears to be one important way. But is the trend correct, and are there problem with the Basic Income idea?
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Dear Tomas,
Yes, of course, the natural tendency of capitalism is "creative destruction", ie, the destruction of less-skilled jobs and the creation of more-skilled jobs. However, the danger in the current phase of technological innovation, especially in robotics, is that jobs are being eliminated at all skill levels, including the jobs, for example, of accountants and journalists. What seems to be happening is an overall decline in productive employment opportunities. This trend, if it is a trend, is not necessarily a bad thing - if the extra income generated by productivity gains is redistributed - hence, the basic income - and people develop a new life-style not so focused on (increasingly scarce) employment. In short, are we not facing a rupture in the normal operation of capitalism, and if so, what should we do about it?
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I am creating an instrument to identify business recovery. I'm not sure of the appropriate method to use to measure the index. 
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You can use Wilcoxon signed rank test to measure the indices before and after the recovery periods.  Take indices when the company was in decline, similarly take the indices after recovery, analyse the data using the Wilcoxon signed rank test
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This is help for research 
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In Russia now introduced a system of budgeting for results. This system is aimed at the planning and funding of public expenditure with reference to a specific end results. For example, in the health financing uses governmental task each Agency, which prescribes what must be achieved for the year that funding was retained in the future. Such parameters can be, for example, reducing mortality by a certain percentage, or a reduction in the number of days spent sick in bed in the complete recovery, etc.
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Hello respected people, i have got one question today. I am looking for information about the budget preparation process in hospitals. As i read from many books, many hospitals follow bottom- up approach. This is to say that various clinical unit heads present their departmental budget requests to the finance department of the organization, which compiles the various components in to the master budget. Then the finance department  present the budget request to the budget committee/ the top management . And once all budget negotiation and revisions have been completed between department heads and top managers the budget finally will get approved. But what i want to know is that the extent to which clinicians / medical professionals such as doctors and nurses  participate in  budgeting process in hospitals. Do clinicians (clinician managers ) in hospitals really have budget responsibility ( in addition to clinical responsibilities) in managing their unit?      Of course it may vary from one hospital to another depending on the place/ context but i want to know the practice in which the majority of hospitals follow in different places. Thank you. 
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Dear Gedion,
 I think your question is really interesting!
From my experience as a hospital director at public hospitals in Sweden, but also from research in health care services (Nordgren 2003, 2015, Nylinder 2012) I will underpin that the budget process at hospitals has to be managed as a creative and thrusted dialogue between those in management and those at the clinical level as well as with the hospital board and it has to be communicated all the time. There are many reasons for this co-creation of the budget.
The first reason is to create understanding of the conditions and context, i.e. the contingencies for the budget as well as for the hospital. In what economic situation is the hospital situated and how does the compensation system work? There are many contingencies that affect the budget control process. Therefore the budget Control process has become matched with circumstances concerning the specific environment where the hospital operates.
The second reason is to communicate and discuss openly the vision and goal for the hospital in terms which are understood of all people working at the hospital. So the language of communication is important.
The third reason is to work with quality and service as management concepts and tools in order to co-create value for patients and stakeholders and moreover to create good financial conditions for the hospital.
Fourthly it should be pinpointed that those professionals, which ‘have’ the highest positions and status at the clinical level influence the budget control process and the use of resources. Therefore they are positioned as responsible and have authority in exercising budget decisions. In this meaning the system could be described as decentralized. The role of central management is to exercise control of the total budget.   
There is a tendency of people to be influenced by the previous highest (or best) level of a factor in the budget process. This tendency means that it is quite hard to bring change into a budget. The focus is therefore often on minor changes since most of the budget is predetermined from previously decisions.
At last, In Sweden the professionals as a rule participate in the budget process and are perceived as responsible.
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The main idea is to compare changes in level of socio-economical development of local  self-government - municipality, but I have about 3000 local units and I would like to use statistical data from National Statistic Office. Recently I wrote about two such methods that could be appropriate in Poland but now I was looking in different countries and  I have found almost nothing (not mentioning indicators of sustainable development).
Best regards
J.Olejniczak
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Dear Jarosław,
If the question is still on the agenda…
If you think that equalization system based on own revenues only is unfair may be mixed system with tax (fiscal) capacity and expenditure needs estimation would fit better? It’s not about local government development (as far as I understand local government development is associated with economic development and tax base), it's about spending needs (number of public goods consumers and other cost indicators).
Such system was used in some of the NIS countries; a few general formulas could be found in Appendix III here: https://www.researchgate.net/publication/266851443_Eurasia.
Regards,
Natalia
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Is there any standard questionnaire to ask for budgeting and budgetary control system in a public hospital?
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Although I have not come across a standard questionnaire, I can share the vital points that can be the part of it. 
Such as Enlist the major heads of expenditures and check the deviation from the standards set for it. Also identify where the major deviation is? Try to to alanyse the problem areas and then if required revise the standards. 
Definately ask questions to guage the feasibilty of deploying Activity Based Costing method for Budget preparation andBudgetory controls. 
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Most of the procurement public contracts in the West countries make reference to non mandatory technical norms (prepared and published by private institutions). The question is how those practices could affect the tenders right to have equal opportunities. In other words, how is the level of legal conflicts and claims  putted by bidders who believe that such norms are negatively impacting on their rights and possibilities to be selected
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If the online procedures development ends with a final online stage, admitting an appeal which came from a Bidder who was rejected in the first assessment stage will lead automatically to the reorganization of the online stage, cancelling the previous result and generating the risk that the new winning offer is placed much lower than the estimated price of the contract. The risk for the price to drop dramatically is caused by the trend to exceed the Bidder stated as the winner of that procedure in the previous online stage and the trend of this winner to stay in the top of the rankings. This aspect is not always favorable to Contracting Authorities because a very low price of the contract attracts the risk of an inferior quality for the performed works/services provided, especially if the estimated value is calculated superficially and without a previous study of the market, based on cost standards older than 4 years.
Finalizing the rejections stated can be made by informing the Bidders over the reasons for rejecting their offers and by developing the operations consequent to this action.
Currently, appeals are submitted after the winner is stated, and after the assessment of the financial offers stated as being admitted. If the Bidders are granted the right to be informed upon the disadvantages of their own offers and upon the right to use the only way to submit an appeal against an unjust assessment, then the Contracting Authorities would risk extending very much the assessment stage for the qualification criteria and for the technical proposals and exceeding the deadlines set for the development of the final online stages.
It would be much more desirable that these unwanted appeals would be solved during the period of assessing qualification criteria and technical proposals than after assigning the winner, whereas this would save much time and work resources allocated for elaborating procedure reports and rankings which have to be updated.
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That is, with baseline data and a well-constructed comparison or control group?
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I'm not aware of anything in a developing country context.  The publication by Sinnott et al is an economic evaluation of a US randomized trial.  I would also be interested in any studies using PSM.
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What is the value for money in traditional infrastructure public procurement, and by comparing both PPP and the traditional procurement, what method can we ascertain value for money in case of both.
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thanku for the answers. i got a clarity now.
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Economic growth usually has as proxies GDP growth or Home income growth. The dependent variables in my studies are gross value added or value added at factor costs.
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All the above answers stressed correctly the limits and drawbacks of Value Added to measure the level of economic activity and, indirectly, thorough the use of variation or growth rate, the growth of economic activity.
However one should also take into account that VA data are often more common and reliable in situation in which GDP or income data are not available (i.e. at sub-national level). Furthermore, if the scope of your analysis is on short run growth then, if taxes and subsidies do not move fast, the actual difference between different production variable is almost negligible
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Upon on the country, public procurement represent between 8% to 25% of Gross Domestic Product. But few empirical studies have looked at public markets from the supplier selection perspective.
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Hello, I have written of eprocurement and process re-engineering in public health. I hope to help
Silvia
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how to calculate shadow economy as independent variable to estimate its effect/impact on states tax collection ? is it possible to estimate at state level ?.
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There are DIRECT APPROACHES that employ either surveys and samples based on voluntary replies, or tax auditing and other compliance methods. Sample surveys are widely used in a number of countries to measure the shadow economy.
And there are INDIRECT APPROACHES also called indicator approaches, are mostly  macroeconomic, and use various economic and other indicators that contain information about the development over time of the shadow economy. We can divide them in:
1) Discrepancy between National Expenditure and Income Statistics
The difference between expenditure and income is an indicator of shadow economy.
2) Discrepancy between Official and Actual Labor Force
The problem of this method is differences in the rate of participation may have other causes
3) The Transactions Approach
It can be assumed that there is a constant relation over time between the volume of transactions and official GNP. It allows computing chances in shadow economy with respect to the base year.
4) The Currency Demand Approach
Shadow transactions are undertaken in the form of cash payments, so as to leave no traces for the authorities. An increase in the shadow economy will therefore increase the demand for currency.
5) The Physical Input (Electricity Consumption) Method -my favourite one-
Electricity consumption is the single best physical indicator of overall economic activity.  By having a proxy measurement for the overall economy and subtracting it from estimates of official GDP, an estimate of unofficial GDP is derived. The difference between the growth of official GDP and the growth of electricity
consumption is attributed to the growth of the shadow economy.
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What are the basic books in input output analysis? What are the good books in input output analysis ? Is there any book which explains step by step of doing input output analysis? How can it be applied to public economics, in intergovernmental transfers?
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I find the book by Ronald E. Miller and Peter D. Blair "Input-Output Analysis: Foundations and Extensions," Prentice Hall, Inc 1985 very good in its coverage and examples. Its not time yet to forget the classical introduction by Robert Dorfman, Paul Samuelson, and Robert Solow, "Linear Programming and Economic Analysis," MacGraw Hill, 1968. Although William Baumol's  "Economic Theory and Operations Analysis," Prentice Hall 1961 is an old book, it is precious and basic for this topic as well.
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This is a question from asset pricing. Beta is the security's or portfolio's price volatility relative to the overall market
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2. In Statistics, the expectation of an unconditional random variable (e.g., a rate of return on an asset) is a constant parameter as set by the density function and should not be affected by other factors (e.g., Beta).
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Is there any method to measure shadow economy in order to use it as an independent variable to measure tax efforts of the state? How can I use the Stochastic Frontier Approach to estimate tax effort?
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Thanks.
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For Caribbean countries there is a paper by Grenade and Wright, Public Finance Review, 2013.
I have written a paper on ratcheting because of business cycles - Hercowitz and Strawczynski (2004), Review of Economics and Statistics. 
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Is it possible to measure and to calculate "community cost-benefit" ?
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Zafer,
Cost-benefit analysis is traditionally (an in keeping with the supporting economic theory) conducted at the societal level.  Precisely as Shivappa points out, what seems a benefit for some may cost others, therefore the societal perspective will provide the most convincing cost-benefit results.  Any CBA, however, can be presented from a number of perspectives within the society.  In your example, you could for instance present the following perspectives: (1) Community A + (2) all others = (3) society.
Best,
Tina
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Dear colleagues, we are looking for data on informality among firms in Latin America, and comparisons to other emerging regions.
In particular, we would like to know estimates of the share of firms not registered (while they should); or firms paying taxes, etc...
Apparently, some household surveys include the question, but we would favor firm surveys.
Many thanks!
Note: The WB Entreprise survey only surveys formal firms, and how they compete with informal ones.
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Gracias Fabio! I'll take a look (although I doubt that most workers know whether their employers are registered or pay taxes...)
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The sample is very small. In addition it contains 74 individuals. The number of observations per individual is either 4, 3, or 2. How can I deal with such constraint? What is the best panel data approach? Thank you in advance for your help.
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The multilevel model can do this but it is an assumption of the standard model that the missingness is at random (MAR) -put simply the missingness is not due to the values of the response. EG modelling alcohol consumption and subjects not show up due to inebriation.
You might want to look at the early part of Chapter 14
Developing multilevel models for analysing contextuality, heterogeneity and change using MLwiN, Volume 2 Kelvyn Jones, VS Subramanian
which is on Researcgate
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I need time series since 1986
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you can also find data from UNdata, WDI of the world bank.
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Externalities are often considered as economic concerns related to failure of market to fix equilibrium prices. Any examples that can beyond doubt explain the existence of externalities? I mean, are there examples and arguments that may counter the propositions of a 'devil's advocate'?
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Externalities is one of the most complex issues of economic analysis. Market, by itself cannot reach a price that includes all the economic sacrifices incurred by the production unit (firm). In the case of negative externalities (environmental damage) you could imagine the firm using "environmental units" that do not belong to it, but to society. The main problem of these EUs is that ENVIRONMENT may be considered a "common property good" where in most cases there are no specific, nor identified individual property rights. The main difficulty is how you include these 'sacrifices' in the production function of the firm, i.e. how you internalize these costs.
If there are only two parties in the situation, negotiation would/could lead to an equilibrium price by compensation. Compensation paid to the one who suffered the damage is included as a cost item. This situation is detailed in Coase's paper "The Problem of Social Cost". Although, the economic analysis in it is 'inconsistent' in my opinion.
In this same paper, Coase cites Pigou and his example of the railway and the damage caused by fire due to sparks from the engine. Is it possible for the railway to negotiate a compensation with more than one owner of property damaged by the fire? Yes, but undoubtedly the process will be long and tedious, "involving higher transaction costs", which are not considered by Neoclassical Theory.
Legal doctrine has been abundant in the analysis of all these cases, there are many examples in Coase's paper, and different rulings or decisions of similar cases by courts in the US and UK. Ultimately, institutions or the institutional environment will determine the 'quantum' of transaction costs and the damage to be compensated.
The case of environmental damage is an example of a negative externality, although you also have positive externalities by production units, e.g. carbon fixation by forests or the recreational value of rural land.
Some activities that have positive externalities over society are public education, public health, public security and public research.
Coase's paper or book "The firm, the market and the law" give an original analysis of these issues, although you might not share some conclusions or methods.
I hope this has been of some value to you and helps to further understand externalities.
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see above
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I do not know about your specific needs, but maybe the following sources can provide some information.
1) The Heritage Foundation publishes figures for public spending as a percentage of GDP for many countries and years ( http://www.heritage.org/index/explore?view=by-variables )
2) If you need more detailed data, you can try the OECD: https://stats.oecd.org/Index.aspx?DataSetCode=SNA_TABLE11# . Or if your interest is in social spending, http://stats.oecd.org/Index.aspx?DataSetCode=SOCX_AGG
3) for EU countries you can look at Eurostat, here: http://epp.eurostat.ec.europa.eu/portal/page/portal/statistics/search_database . As an example, here are data about spending for education: http://appsso.eurostat.ec.europa.eu/nui/show.do?dataset=educ_figdp&lang=en
Hope these somewhat help!
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Based on my research on Government building design in two eras. One of them are produced from nominated architect while the other is from architectural competition.
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Hello! Your research is very intresting. Do You have any achievements of this case or anything ready? My research includes participation in public building. I am wondering if the one important method in participation of public planning should be design competition. You have now quite hot in Australia , I herard , we have quite cold - 15 degrees here in Finland. Waiting Your answer Greetings Marjo
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What is the role of public investment in the national economy? And how can that role be effective?
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I find this discussion astonishing, one sided and politically rather than intellectually motivated. Public expenditures AND private investments both generate a huge range of impacts-- good and bad and depending on who you ask. Corruption hardly exists only in governments (look at Wall Street today). Would you all say that government investments in e.g. public health or universities or highways are money down a rat hole? Keynes policies are associated with a decline in the boom and bust of the US Economy whatever else you might think of what he says, and have probably resulted in more human welfare than any one else's as can be shown empirically ---, at least that can be argued. Population growth, peak oil (national) , soil depletion and so on can explain much of what is attributed above to aid alone, (whatever its problems). I do not want to be involved in a sandbox fight and will not respond to the vitriol I expect, but lets get some balance and nuance and real analysis here.
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A recent example is Clemens, Radelet, Bhavnani and Bazzi, 2012. Counting Chickens When They Hatch: Timing and the Effects of Aid on Growth. Economic Journal 122: 590–617. I'm looking for additional papers.
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Here's the paper.
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Can anyone help how to estimate marginal benefit of public expenditure on education?
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Thanks Shiomo, for the answer and the reference of the paper. However, I could not download the paper. Can you pl. send me the link?
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Human capital theory suggests that there is a direct relationship between the level of education and income, under this premise, the OECD encourages countries to invest in education to reduce existing wage disparities. However, for developing countries the effects of spending on education tend to be oscillatory. That's when the question arises about whether developing countries should substantially increase the level of spending on education, if so, it would be advisable to do so at all levels?
Finally, it is possible to reach an optimal level of spending on education, which maximize the benefits of society? if so, under what arguments would be valid
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Check out papers by Clark, Lawson, and Gwartney. Also check out the Journal of Private Enterprise.