2017.12 Vol.258 C O N T E N T S 02 06 35 57 89 94 100 103 105 M O N T H L Y P U B L I C F I N A N C E F O R U M
2 2017.12
3
4 2017.12
* 6 2017.12
7
1,989,020 2,110,953 2,087,458 2,210,542 2,370,003 10,767,976 233,386 252,058 252,418 267,932 265,857 1,271,651 49,257 54,601 59,089 65,400 78,482 306,829 184,129 197,457 193,329 202,532 187,375 964,822 178,785 192,969 187,018 189,450 193,421 941,643 81,511 85,133 89,001 94,192 95,818 445,655 78,804 87,965 77,592 78,585 80,093 403,039 18,470 19,871 20,425 16,673 17,510 92,949 54,601 59,089 65,400 78,482 72,436 330,008 8 2017.12
9
1) 10 2017.12
11
10,503 54,330 16,176 0.65 13,692 3.4 0.19 2,484 10,719 71,894 19,172 0.56 15,592 3.7 0.15 3,580 16,702 147,232 32,632 0.51 23,308 4.5 0.11 9,324 19,582 158,466 43,882 0.45 32,730 3.6 0.12 57,506 431,922 111,862 12 2017.12
13 20,295 (18.1) 1,478 (2.6) 7,481 (97.8) 546 (94.0) 63,580 (56.9) 16,213 (28.2) 17,638 (15.8) 13,264 (23.1) 10,333 (9.2) 26,551 (46.1) 170 (2.2) 35 (6.0) 111,846 (100.0) 57,506 (100.0) 7,651 (100.0) 581 (100.0)
10,503 21,222 37,924 57,506 18.7 114.3 155 292 1.5 8.8 12.1 23.7 5.8 10.8 15.5 20 0.6 1.7 2.2 2.2 6.4 12.5 17.7 22.2 5.9 7.9 10.7 10.7 12.3 20.4 28.4 32.9 10.8 11.6 16.3 9.2 85,264 42,157 531.5 1.26 76.2 73.3 26,582 15,349 49.2 0.31 23.8 26.7 111,846(C) 57,506(D) 580.7 1.01 100.0 100.0 14 2017.12
948 668 3.2 0.48 1.11 1.58 3,452 2,325 11.5 0.49 4.05 5.52 7,000 3,978 26.1 0.66 8.21 9.44 18,852 9,973 98.3 0.99 22.11 23.66 30,399 14,568 184.5 1.27 35.65 34.56 18,454 8,247 132.4 1.61 21.64 19.56 6,159 2,398 75.5 3.15 7.22 5.69 85,264 42,157 531.5 1.01 100 100 3,014 15.2 0.50 12,418 158.5 1.28 13,783 121.9 0.88 6,698 36.3 0.54 47,135 365.3 0.84 15
2) 3) 4) 16 2017.12
ACS 775,302 53,545 0.07 6,800,000 11.4 PDC 443,438 105,621 0.24 11,700,000 3.8 5) 6) 7) 8) 9) 10) 17
11) 18 2017.12
12) 13) 14) 19
6,713 38,590,911 21,771,927 16,645,701 4,400 21,383,106 5,441,452 4,439,596 11,113 59,974,017 27,213,424 21,085,297 20 2017.12
21
15) 22 2017.12
104,003 104,946 101,786 103,447 414,212 10,667 110,089 100,055 79,209 300,020 118,356 151,291 173,214 95,519 538,380 176,856 114,112 127,847 95,693 514,508 80,002 55,104 63,265 48,680 247,051 375,214 320,507 364,326 239,892 1,299,939 16) 17) 18) 23
24 2017.12
19) 20) 25
26 2017.12
21) 27
30,137 364.9 1.22 16,962 30.4 0.18 47,099 395.3 0.84 22) 23) 28 2017.12
24) 29
18.7 114.3 155 292 580 1.5 8.8 12.1 23.7 46.1 12.3 20.4 28.4 32.9 94.0 12.5 13.0 12.8 12.3 12.6 1.5 5.6 5.5 8.9 6.2 30 2017.12
31
32 2017.12
33
34 2017.12
* 1) 35
2) 36 2017.12
3) 4) 37
38 2017.12
5) 6) 7) 8) 9) 39
10) 70 30 92 50 50 95 30 70 95 20 80 95 10 90 95 11) 40 2017.12
41
42 2017.12
12) 43
13) 14) 15) 16) 17) 44 2017.12
18) 19) 45
585.26 300.68 1,764.95 467.44 325.51 596.39 295.37 1,832.19 486.54 321.44 74.39 66.08 98.38 73.57 5.29 46.28 3.00 143.00 33.00 39.30 671.69 301.18 1,718.10 472.84 917.85 707.81 301.29 1,855.85 518.32 414.78 80.44 72.13 90.79 80.56 3.83 34.18 6.00 83.00 33.00 19.26 46 2017.12
7.5 7.4 14.9 14.6 77.7 78.0 27 21 1,464 879 18.5 14.3 37.0 19.1 44.4 66.7 27 21 47
77.2 65.1 96.3 76.5 6.4 76.7 65.2 101.2 76.9 5.6 77.4 65.0 102.3 76.9 4.0 77.2 65.0 102.3 76.9 4.8 81.9 72.0 102.7 81.2 5.7 81.4 72.1 102.7 81.0 5.0 80.9 71.8 102.1 80.6 2.9 81.2 71.8 102.7 80.7 4.1 48 2017.12
.15.1 Density.1 Density.05.05 0 60 70 80 90 100 110 0 60 70 80 90 100 110.15.2.1.15 Density Density.1.05.05 0 60 70 80 90 100 110 0 60 70 80 90 100 110 49
.2.2.15.05 Density.1 Density.1.05.05 0 60 70 80 90 100 110 0 60 70 80 90 100 110.15.3.1.2 Density Density.05.1 0 60 70 80 90 100 110 0 60 70 80 90 100 110 50 2017.12
20) 51
29.5 18.3 23.9 22.5 46 40 29.3 18.3 25.9 19.0 27 21 52 2017.12
53
54 2017.12
55
57
0 9,325 10 0 9,525 10 9,326 37,950 15 0 90,000 12 9,526 38,700 12 37,951 91,900 25 38,701 60,000 23 91,901 191,650 28 60,001 170,000 25 90,001 260,000 25 191,651 416,700 33 170,001 200,000 32.5 416,701 418,400 35 260,001 1,000,000 35 200,001 500,000 35 418,401 39.6 1,000,001 39.6 500,001 38.5 58 2017.12
59
60 2017.12
61
62 2017.12
63
64 2017.12
65
66 2017.12
67
68 2017.12
69
70 2017.12
71
72 2017.12
73
74 2017.12
75
77.2 66.8 76.5 66.4 21.8 20.1 21.1 19.9 55.4 46.8 55.4 46.5 59.6 56.4 59.3 56.1 3.5 3.0 3.4 2.9 9.6 9.0 9.5 8.9 9.7 9.7 9.6 9.6 159.6 144.8 158.4 144.0 1.1 0.6 0.6 0.4 160.6 145.4 158.9 144.4 162.6 146.7 76 2017.12
77
78 2017.12
79
80 2017.12
ä 81
2,890 (2.6) 3,083 (6.7) 3,158 (2.4) 2,887 2,981 3,068 3,162 3,324 3,454 3,587 988 1,054 1,095 1,132 1,216 1,265 1,313 293 224 322 370 372 376 389 7,058 (4.8) 7,342 (4.0) 7,643 (4.1) 3,287 (4.1) 7,951 (4.0) 3,353 (2.0) 8,265 (4.0) 3,484 (3.9) 8,579 (3.8) 3,607 (3.5) 8,896 (3.7) 82 2017.12
1.6 (1.7) 1.6 (1.6) 1.7 (1.8) 1.7 1.5 (1.3) 1.7 (1.8) 1.7 (1.7) 1.7 3.0 (2.8) 2.4 (2.5) 2.2 (2.2) 2.1 4.2 (4.4) 4.2 (4.5) 4.2 (4.5) 4.3 0.4 (0.3) 0.7 (0.5) 0.9 (0.7) 1.0 83
4,487 0 395 0 4,885 0 84 2017.12
3.1 1.9 1.8 1.7 2.4 1.8 2.0 2.1 2,140 2,221 2,306 2,487 293.5 308.2 323.2 335.1 349.1 363.2 377.8 311.3 328.4 338.6 349.3 362.6 375.8 387.7 287.2 304.4 311.1 318.1 328.6 339.3 349.2 24.1 24.0 27.5 31.2 34.0 36.5 38.5 17.8 20.2 15.5 14.2 13.6 12.5 9.9 31.2 30.5 30.1 29.6 29.0 28.5 27.8 85
381.6 384.8 3.2 306.9 302.7 4.2 292.3 289.6 2.7 14.5 13.0 1.5 5.4 5.2 0.2 69.3 76.9 7.6 éé 86 2017.12
87
88 2017.12
89
90 2017.12
91
The House and Senate each passed different versions of the Tax Cuts and Jobs Act. The two versions now head to a conference committee where select lawmakers from both chambers will work towards one unified bill. The conference committee should begin with the Senatepassed bill. The Senate bill is on the whole an improvement on the House-passed version and the political balance struck in the Senate will be important to maintain for final passage. We document how an anti-poverty program improves economic and subjective wellbeing and self-sufficiency. Familias en Accion Urbano a conditional cash transfer program implemented at scale in the country of Colombia uses a means-test cutoff score selection rule that provides exogenous variation in program participation. The House passed its version of the Tax Cuts and Jobs Act on November 16 a bill that would reform the tax code by lowering marginal rates for most households corporations and small businesses. The Senate Finance Committee reported its version of the bill out of committee on November 16 and the full Senate is expected to take up the bill in the week of November 27. Sound regional policies are essential for balanced and sustained economic growth. The interaction of federal and regional policies with cross-regional structural differences aspect human and physical capital formation the business climate private investment market depth and competition. This paper summarizes the main elements of Russia s fiscal federalism describes the channels through which it operates and assesses the effectiveness of regional transfers in reducing regional disparities. 92 2017.12
12,757 393 1,911 912 212 1,279 377 94 2017.12
414.3 423.1 447.1 447.2 0.1 32.9 7.9 400.5 410.1 429.0 428.8 0.1 28.3 7.1 28.3 28.9 28.6 28.5 0.1 0.2 ( 1.7) ( 1.7) ( 1.6) ( 1.6) ( ) (0.1%p) 682.4 669.9 708.9 708.2 0.7* 25.8 (40.4) (39.7) (39.6) (39.5) ( 0.1%p) ( 0.9%p) 95
96 2017.12
97
98 2017.12
400.5 429.0 428.8 0.1 28.3 7.1 129.5 146.2 144.7 1.5 15.2 11.7 57.4 (14.5) 64.1 (14.6) 64.2 (14.6) 6.9 6.3 6.5 0.1 0.4 6.3 6.9 6.8 6.9 0.12 0.0 0.3 19.5 19.6 19.7 0.03 0.2 1.1 16.0 15.9 16.3 0.3 0.2 1.5 22.1 17.7 19.0 1.3 3.1 14.2 19.6 19.6 19.7 0.1 0.1 0.5 40.3 43.1 43.2 0.04 2.8 7.0 4.6 4.8 4.7 0.1 0.2 3.5 18.1 18.9 19.1 0.2 0.9 5.1 63.3 (22.6) 69.6 (23.7) 69.0 (23.0) 0.0 (0.1) 0.7 ( 0.7) 6.8 (0.2) 5.6 (0.4) 11.8 (1.2) 8.9 (1.8) 99
100 2017.12
101
102 2017.12
232.7 26.6 215.7 92.7 251.1 29.8 236.9 94.4 3.2 21.2 1.7 225.8 25.6 209.8 92.9 244.0 28.9 231.0 94.7 3.3 21.2 1.8 63.3 5.0 55.4 87.5 69.6 5.4 60.4 86.7 0.5 5.0 0.8 51.4 2.7 49.6 96.5 57.3 2.7 56.7 99.0 0.1 7.1 2.5 59.8 13.7 60.2 100.7 62.6 16.3 65.8 105.2 2.5 5.6 4.5 14.8 1.2 12.9 86.6 15.4 1.2 13.1 85.0 0.0 0.2 1.6 8.3 0.7 7.0 83.9 9.0 0.7 7.3 81.3 0.0 0.4 2.6 28.2 2.3 24.9 88.0 30.2 2.6 27.7 91.9 0.3 2.9 3.9 6.9 1.0 5.9 85.8 7.1 0.9 6.0 83.7 0.1 0.0 2.0 103
281.7 163.5 222.3 219.4 239.4 85.0 233.8 135.7 187.0 185.2 203.2 86.9 47.9 27.8 35.4 34.1 36.1 75.4 2.5 9.1 17.3 13.0 14.6 27.2 10.0 41.5 2.5 33.4 41.9 3.4 34.6 1.2 39.0 6.6 16.1 28.9 11.2 7.4 8.8 556.5 591.9 35.4 633.5 627.3 629.4 37.4 2.0 104 2017.12
105
1,000 0 0 83,830 61,130 1,220 163,230 140,730 50,730 106 2017.12
107