Forty Acres and Unfulfilled Promises

As part of the English 101.003 Writing Seminar taught by Dr. Anne Porter in Fall 2015 at Providence College, this essay was written in response to an assignment to articulate a central question about slavery reparations. The essay explores the question from various angles and makes reference to Justice: What’s the Right Thing to Do? by Michael J. Sandel, “The Case for Reparations” from The Atlantic (June 2014) by Ta-Nehisi Coates, as well as at least one additional, scholarly source. The essay is written for college-age readers, who are interested in the issue and asking the same questions. Abstract: In response to escalating racial tensions in American society, this essay analyzes the feasibility of reparations for racial injustices. As evidenced by historic orders like ³Forty Acres and a Mule², the government has failed to fulfill its promises to pay, only further perpetuating inequality. There is controversy as to whether reparations are still due and how they can be quantified. This essay evaluates the present-day value of these historic unfulfilled promises and assesses if this valuation could be used as a solution to the reparations debate. If America is able to quantify the value of reparations, the question remains whether it is the duty of modern-day American citizens to right the wrongs of the past

Testing the altruism hypothesis with italian cohort data

In this paper I follow Abel and Kotlikoff 1994 non-parametric approach based on consumption cohort data to test for intergenerational altruism among Italian households. The Italian socio-economic framework represents an interesting ground to test for the Barro’s 1974 model given the stronger family linkages usually present among Italian households. All tests reject altruism. Further, I evaluate how restrictive is the assumption of a zero correlation between the clan’s Euler errors and the demographic structure of the clan. I find no evidence of any major role played by the age composition of the clan and conclude that the zero correlation assumption is reasonable.Altruism; Intergenerational transfers, Italy

Temporary measures in Italy: buying or losing time?

In this paper we examine the effects of temporary measures on the Italian budget in the period 1997-2006 and assess their appropriateness. We also analyse the role of extraordinary operations which reduced the level of public debt in the same time frame while leaving the net worth of the public sector broadly unchanged. Our analysis suggests that temporary measures and extraordinary operations were used mainly to comply formally with EU fiscal rules without incurring the economic and political costs of more structural adjustment. Policy-makers bought time in a worsening cyclical context, expecting the recovery to be imminent. Ex post information reveals that the timing of this strategy was wrong. In a broader temporal perspective, the use of extraordinary operations has made it possible to postpone more permanent actions which would have improved the sustainability of Italian public finances. It is difficult not to conclude that precious time has been lost designing an equitable distribution across generations of the expected costs of the upcoming demographic transition.temporary measures, economic cycle, budgetary policies.

Unexpected changes in tax revenues and the stabilisation function of fiscal policy. Evidence for EU

This paper analyzes the size and the determinants of unexpected changes in EU countries' tax revenues and their impact on the ability of EU governments to use fiscal policy as a macroeconomic stabilisation device. We make use of information taken from the Stability and Convergence Programmes (SCP) setting countries' medium-term fiscal plans and focus on the period preceding the 2008/2009 global financial crisis. Tax revenue surprises are found to have fluctuated widely, alternating periods of sizeable windfalls and periods of substantial shortfalls.When analysing this, we find that GDP growth surprises and, in some cases (i.e. Ireland, Spain the UK and Finland) asset prices fluctuations have exerted the most significant influence. In the sequel we provide evidence on the incidence of these unexpected changes in governments' tax revenues on the ability of governments to conduct counter-cyclical fiscal policies, which are desirable from a macroeconomic perspective.We find that countries that have experienced the largest tax revenue windfalls in the run-up to the 2008/2009 crisis have also tended to run more pro-cyclical fiscal policies although these results vary depending on the use of ex-post vs. real-time data and on the method used to calculate the cyclical position of the economy. Put differently, these results tend to indicate that while tax revenue windfalls may be good for the public purse during favourable times they may also (paradoxically) dwindle the ability of the countries concerned to run counter-cyclical fiscal policies when cyclical conditions revert.european union eu tax revenues windfalls shortfalls business cycles fiscal policy stabilisation barrios rizza