Nilss Olekalns's Books

Tax Smoothing in a Financially Repressed Economy

Evidence from India

By: Mr.Paul Cashin,Ms.Ratna Sahay,Nilss Olekalns

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Tax Smoothing in a Financially Repressed Economy

Evidence from India

By: Mr.Paul Cashin,Ms.Ratna Sahay,Nilss Olekalns

India has a long history of running fiscal deficits. Two broad considerations motivate a government to run a deficit: tax smoothing and tax tilting. This paper tests a version of Barro’s tax-smoothing model, using Indian data for the period 1951-52 to 1996-97. The empirical results indicate that the central government of India has tax-smoothed, while the regional governments of India have not. The paper also finds evidence of tax tilting, reflected in financial repression, which has led to the accumulation of excessive public liabilities.

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International Monetary Fund

Published Date

ISBN 10

1451854463

ISBN 13

9781451854466

Principles of Macroeconomics

By: Ben Bernanke,Ben S. Bernanke

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Principles of Macroeconomics

By: Ben Bernanke,Ben S. Bernanke

This is the third edition of the highly successful and well-regarded Australian adaptation by Nilss Olekalns of Bernanke & Frank's Principles of Macroeconomics.

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ISBN 10

0070281580

ISBN 13

9780070281585

EBOOK Principles of Macroeconomics

By: Ben Bernanke,Nilss Olekalns,Robert Frank

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EBOOK Principles of Macroeconomics

By: Ben Bernanke,Nilss Olekalns,Robert Frank

Learn to think as an economist with the market-leading macroeconomics text,Principles of Macroeconomics 5e. Building on the legacy of its internationalauthor team, the fifth edition eBook has been adapted for the local market. Byfocusing on central ideas that shape modern macroeconomic thinking, andinterpreting the latest data, the 5th edition offers a truly Australianperspective. The emphasis on currency and real-world relevance grounds the keyconcepts in relatable examples to help readers see the impact of past andpresent events on Australian and global economic landscapes. Improvements to the 5th edition include: ANZ focus: Develop a solid understanding of the macroeconomic climate inAustralia and New Zealand. Industry spotlight: Hear from high-profile macroeconomists and recentgraduates on industry trends and where a career in macroeconomics can take you. Interactive digital learning: A robust suite of digital resourcesincluding graphing tools, concept videos and case studies engages students andtests their knowledge.

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1383

Publisher

McGraw-Hill Education Australia

Published Date

ISBN 10

1760424056

ISBN 13

9781760424053

Spend Now, Pay Later? Tax Smoothing and Fiscal Sustainability in South Asia

By: International Monetary Fund

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Spend Now, Pay Later? Tax Smoothing and Fiscal Sustainability in South Asia

By: International Monetary Fund

This paper tests a version of Barro’s tax-smoothing model, which assumes intertemporal optimization by a government seeking to minimize the distortionary costs of taxation, using Pakistan and Sri Lankan data for 1956-95 and 1964-97, respectively. The empirical results indicate that Pakistan’s fiscal behavior is consistent with tax smoothing, but not Sri Lanka’s. Moreover, fiscal behavior in both countries was dominated by a stagnation of revenues, large tax-tilting-induced deficits, and the consequent accumulation of excessive public liabilities. Analysis of the time-series characteristics of tax-tilting behavior indicates that for both countries the stock of public liabilities is unsustainable under unchanged fiscal policies.

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International Monetary Fund

Published Date

ISBN 10

1451848404

ISBN 13

9781451848403

Tax Smoothing in a Financially Repressed Economy

Evidence from India

By: Mr.Paul Cashin,Ms.Ratna Sahay,Nilss Olekalns

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Tax Smoothing in a Financially Repressed Economy

Evidence from India

By: Mr.Paul Cashin,Ms.Ratna Sahay,Nilss Olekalns

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International Monetary Fund

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ISBN 10

1451854463

ISBN 13

9781451854466

Economic Activity and the Stock Market

The Asymmetric Impact of Fundamental and Non-fundamental News

By: Olan Henry,Nilss Olekalns,Kalvinder Shields

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Economic Activity and the Stock Market

The Asymmetric Impact of Fundamental and Non-fundamental News

By: Olan Henry,Nilss Olekalns,Kalvinder Shields

In this paper, we present a general model of the joint data generating process underlying economic activity and stock market returns allowing for complex nonlinear feedbacks and interdependencies between the conditional means and conditional volatilities of the variables. We propose statistics that capture the long and short run responses of the system to the arrival of fundamental and non-fundamental news, conditioning on the sign and time of arrival of the news. The model is applied to US data. We find that there are significant differences between the short and long run responses of economic activity and stock returns to the arrival of news. Moreover, for certain classifications of news, the respective responses of economic activity and stock returns vary according to the nature of the news and the phase of the business cycle at which the news arrives.

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ISBN 10

0734040059

ISBN 13

9780734040053

Book's by Nilss Olekalns

Tax Smoothing in a Financially Repressed Economy

Tax Smoothing in a Financially Repressed Economy

Principles of Macroeconomics

Principles of Macroeconomics

EBOOK Principles of Macroeconomics

EBOOK Principles of Macroeconomics

Spend Now, Pay Later? Tax Smoothing and Fiscal Sustainability in South Asia

Spend Now, Pay Later? Tax Smoothing and Fiscal Sustainability in South Asia

Tax Smoothing in a Financially Repressed Economy

Tax Smoothing in a Financially Repressed Economy

Economic Activity and the Stock Market

Economic Activity and the Stock Market

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