Explore the vast range of titles available.

This paper critically reviews recent work regarding the sustainability of public debt. It argues that Debt Sustainability Analyses (DSAs) should be more than mere mechanical simulation exercises. Instead, a DSA should be linked to some objective regarding the distribution of fiscal burdens and distortions over time (in the tradition of Barro's 1979 tax smoothing objective). The paper discusses objective functions that yield simple and transparent fiscal policy rules.

Labor market competition theory has traditionally analyzed the threat perceived by lower and middle class’ natives on competition over jobs with immigrants. However, in this article we focus on the fiscal burden and competition for social benefits generated by unemployed immigrants and its impact on the vote for Populist Radical Right Parties (PRRPs). Combining individual-level data and aggregate unemployment indicators for over 60 regions from 10 EU countries, we show that, on the one hand, upper class natives seem to support PRRPs when migrant unemployment rates are higher, irrespective of migrants’ origin, which is consistent with the fiscal burden model. On the other hand, lower and middle class natives are more likely to support PRRPs only in contexts of higher unemployment rates among non-EU migrants (but not among migrants from other EU member states), pointing towards an interaction between cultural and economic explanations. These findings underscore the need to account for migrant populations’ characteristics and to consider not only labor competition, but also the fiscal burden to better understand how unemployment may impact PRRP voting.

Oil remains a strategic input for global energy systems and petrochemical production, while in resource-dependent countries, it also plays a critical fiscal and macroeconomic role. In Mexico, this dual relevance is embodied by Petróleos Mexicanos, whose profitability has been persistently challenged by declining production, high fiscal pressure, and operational constraints. This study examines the dynamic relationship between fiscal burden, operational performance, and net profitability in Petróleos Mexicanos over the period of 2008–2024. Using quarterly audited financial data from institutional disclosures and investor reports, indicators of fiscal burden, operational performance, and profitability were constructed. The empirical strategy adopts a time-series econometric framework based on the Box–Jenkins methodology, combining ARIMA modeling with a transfer function approach to assess both contemporaneous and lagged effects. The results indicate that operational performance—captured by the operating margin before taxes and duties—exerts a statistically significant and persistent influence on net profitability, including delayed transmission effects. Once operational dynamics are explicitly accounted for, the direct impact of fiscal burden on profitability is not statistically confirmed. These findings suggest that fiscal pressure affects profitability primarily through indirect and mediated channels linked to operational performance rather than through an immediate direct mechanism. The study contributes dynamic empirical evidence to the fiscal–operational debate on state-owned oil companies and offers insights relevant for fiscal design, operational management, and the long-term financial sustainability of Petróleos Mexicanos.

This paper’s goal is to highlight how happiness affects the level of shadow economy, by using many control variables within different types of potentially determining factors of shadow economy. Another main contribution consists in the systematic comparison between old and new European Union member states in terms of determinants of shadow economy, including happiness. Our findings consist in the fact that happier people are more likely to act honestly, thus causing a decrease in the size of shadow economy and this result is valid both for old and new European Union countries. In addition, we found that the quality of public governance and the richness of a country are associated with a lower propensity towards shadow economy for all the member states. However, the relationship between public governance and shadow economy are never sig-nificant when the happiness and richness variables vary simultaneously. Our research reveals that the shadow economy in European Union countries is explained in percent of about 62% by richness and happiness of the people. Contrary to our expectations, the fiscal pressure seems not to be a determinant for shadow economy in the European Union space. First published online 4 December 2016

Studies have extensively documented the effect of immigration on anti-immigration attitudes in high-income democracies. However, comparative political research has devoted less attention to South-South migration. We examine the impact of immigration on attitudes toward immigrants in Chile, which has experienced a threefold increase in its foreign-born population in the last decade. Using an instrumental variable design, we find that exposure to immigration increases hostile attitudes toward immigrants. Regarding the underlying factors driving hostile attitudes toward foreign-born groups, we find robust evidence pointing to immigration creating a public service shortage, which could explain the observed hostility. Conversely, we do not report evidence backing cultural anxieties or labor market competition. Hence, the Chilean case points to anti-immigrant attitudes gaining ground in contexts where welfare state provisions are limited and often precarious.

The aim of the study is to test the role of fiscal burden on energy transition and economic recovery. The major emphasis of this study, from this viewpoint, is on the repercussions of fiscal burden on energy transition through net GDP rate in eight different nations including the south Asia region, and to unlock the opportunities for economic recovery. In order to determine whether or not there were any effects of foreign fiscal burden on energy transition through net GDP rate in the data, the World Bank collected data for the period 2000–2018. The study conducted a GMM and quantile regression analysis to see if there were any effects of foreign fiscal burden on energy transition, and how it infers economic recovery. In spite of the facts that international fiscal burden has a considerable negative influence on economic recovery and energy transition. The robustness analysis validates these results, with influencing variables accounting for 39 percent and 31 percent, respectively, with the total external fiscal burden and external fiscal burden service of the total external fiscal burden. The findings of this research will be useful to government authorities in their attempts to design more efficient and effective economic strategies in the foreseeable future. Hence, study suggested the practical implications to reduce fiscal burden and accelerate economic recovery through energy transition.