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Balanced budget multipliers for small open regions within a federal system : evidence from the Scottish variable rate of income tax. / Lecca, Patrizio ; McGregor, Peter; Swales, Kim; Yin, Ya.

In: Journal of Regional Science, Vol. 54, No. 3, 02.06.2014, p. 402-421.

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@article{f197c598e6ab4d4192590b76538b3d19,
title = "Balanced budget multipliers for small open regions within a federal system: evidence from the Scottish variable rate of income tax",
abstract = "This paper explores the impact on aggregate economic activity in a small, open region of an income tax funded expansion in public consumption that has no direct supply-side effects. The conventional balanced budget multiplier produces an unambiguously positive macroeconomic stimulus, but the incorporation of negative competitiveness elements, through the operation of the local labor market, renders this positive outcome less certain. Simulation using a single-region Computable General Equilibrium (CGE) model for Scotland demonstrates that the creation of local amenity effects, and the extent to which these are incorporated into local wage bargaining, is central to the analysis.",
author = "Patrizio Lecca and Peter McGregor and Kim Swales and Ya Yin",
note = "This is the peer reviewed version of the following article: Patrizio Lecca, Peter G. McGregor, J. Kim Swales, and Ya Ping Yin, {\textquoteleft}BALANCED BUDGET MULTIPLIERS FOR SMALL OPEN REGIONS WITHIN A FEDERAL SYSTEM: EVIDENCE FROM THE SCOTTISH VARIABLE RATE OF INCOME TAX{\textquoteright}, Journal of Regional Science, Vol. 54 (3): 402-421, June 2014, which has been published in final form at https://doi.org/10.1111/jors.12113 This article may be used for non-commercial purposes in accordance with Wiley Terms and Conditions for Self-Archiving.",
year = "2014",
month = jun,
day = "2",
doi = "10.1111/jors.12113",
language = "English",
volume = "54",
pages = "402--421",
journal = "Journal of Regional Science",
issn = "0022-4146",
publisher = "Wiley-Blackwell",
number = "3",

}

RIS

TY - JOUR

T1 - Balanced budget multipliers for small open regions within a federal system

T2 - evidence from the Scottish variable rate of income tax

AU - Lecca, Patrizio

AU - McGregor, Peter

AU - Swales, Kim

AU - Yin, Ya

N1 - This is the peer reviewed version of the following article: Patrizio Lecca, Peter G. McGregor, J. Kim Swales, and Ya Ping Yin, ‘BALANCED BUDGET MULTIPLIERS FOR SMALL OPEN REGIONS WITHIN A FEDERAL SYSTEM: EVIDENCE FROM THE SCOTTISH VARIABLE RATE OF INCOME TAX’, Journal of Regional Science, Vol. 54 (3): 402-421, June 2014, which has been published in final form at https://doi.org/10.1111/jors.12113 This article may be used for non-commercial purposes in accordance with Wiley Terms and Conditions for Self-Archiving.

PY - 2014/6/2

Y1 - 2014/6/2

N2 - This paper explores the impact on aggregate economic activity in a small, open region of an income tax funded expansion in public consumption that has no direct supply-side effects. The conventional balanced budget multiplier produces an unambiguously positive macroeconomic stimulus, but the incorporation of negative competitiveness elements, through the operation of the local labor market, renders this positive outcome less certain. Simulation using a single-region Computable General Equilibrium (CGE) model for Scotland demonstrates that the creation of local amenity effects, and the extent to which these are incorporated into local wage bargaining, is central to the analysis.

AB - This paper explores the impact on aggregate economic activity in a small, open region of an income tax funded expansion in public consumption that has no direct supply-side effects. The conventional balanced budget multiplier produces an unambiguously positive macroeconomic stimulus, but the incorporation of negative competitiveness elements, through the operation of the local labor market, renders this positive outcome less certain. Simulation using a single-region Computable General Equilibrium (CGE) model for Scotland demonstrates that the creation of local amenity effects, and the extent to which these are incorporated into local wage bargaining, is central to the analysis.

U2 - 10.1111/jors.12113

DO - 10.1111/jors.12113

M3 - Article

VL - 54

SP - 402

EP - 421

JO - Journal of Regional Science

JF - Journal of Regional Science

SN - 0022-4146

IS - 3

ER -