Putting it Off for Later: Procrastination and End of Fiscal Year Spending Spikes
Putting it Off for Later: Procrastination and End of Fiscal Year Spending Spikes
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推迟到以后：拖延和财政年度末支出激增
DOI：
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发表时间：
2019
期刊：
影响因子：
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通讯作者：
Stuart Baumann
中科院分区：
文献类型：
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作者：
Stuart Baumann
世界上许多国家的政府在财政年度结束时都增加了支出。这些财政年度末的开支激增常常引起政策制定者的关注，因为它们往往会导致较低质量的开支。本文使用英国的数据来反驳预防性储蓄对支出飙升的解释。另一种解释是，拖延导致财政年度末支出增加。一种时变预算税的新技术被校准到模型中，它被证明是有效的平滑支出和提高整个财政年度的支出效率。
Many governments around the world exhibit heightened spending at the end of the fiscal year. These end of fiscal year spending spikes often concern policy makers due to their tendency to result in lower quality spending. This paper uses UK data to offer evidence against the precautionary savings explanation for spending spikes. An alternative explanation is offered with procrastination driving heightened end of fiscal year spending. A new technique of time‐variant budgetary taxes is calibrated to the model, and it is shown to be effective for smoothing spending and improving spending efficiency throughout the fiscal year.