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Improving the Fiscal Framework to Enhance Growth in an Era of Fiscal Consolidation in Slovakia

Klein, Caroline; Price, Robert W.R.; Wörgötter, Andreas - Economics Department, Organisation de Coopération et … - 2013

The challenge for fiscal policy in Slovakia is to achieve fiscal consolidation in a way which supports the fragile recovery and protects spending on areas which are important for re-embarking on a trajectory of high trend growth and underpinning a catch-up in living standards. While the recently...

Persistent link: https://www.econbiz.de/10011277021

Estonia: Making the Most of Globalisation

Price, Robert W.R.; Wörgötter, Andreas - Economics Department, Organisation de Coopération et … - 2011

convergence. From the Russian crisis in 1998 to the great recession in 2009 Estonia gained an impressive 20% in GDP per capita … relative to the EU27 average in PPPs. Like the other Baltic economies, however, a considerable part of earlier convergence … less affected by the crisis and have been able to maintain most of their convergence gains. Moreover, prior to the …

Persistent link: https://www.econbiz.de/10009146865

New Tax and Expenditure Elasticity Estimates for EU Budget Surveillance

Price, Robert W.R.; Dang, Thai-Thanh; Guillemette, Yvan - Economics Department, Organisation de Coopération et … - 2014

This paper estimates the elasticities of government revenue and expenditure items with respect to the output gap for European Union (EU) countries. These elasticities are used by the European Commission, as part of the EU fiscal surveillance process, to calculate the semi-elasticity of the...

Persistent link: https://www.econbiz.de/10011276822

Adjusting Fiscal Balances for Asset Price Cycles

Price, Robert W.R.; Dang, Thai-Thanh - Economics Department, Organisation de Coopération et … - 2011

This paper develops a method for adjusting structural budget balances for asset price cycles and presents estimates of structural budget balances corrected for house-price and equity-price cycles for OECD countries. The traditional cyclically adjusted budget balance indicator, which is the basis...

Persistent link: https://www.econbiz.de/10009643458

Austria: Public Sector Inefficiencies Have Become Less Affordable

Fischer, Karin; Gönenç, Rauf; Price, Robert W.R. - Economics Department, Organisation de Coopération et … - 2011

Performance of fiscal policy, while good in international comparison, is not sufficient to prepare for future ageing-related spending increases. Subject to macroeconomic developments, the pace of consolidation could be more ambitious than currently planned, with a view to reducing the debt...

Persistent link: https://www.econbiz.de/10009358637

Effective Tax Rates in Macroeconomics: Cross-Country Estimates of Tax Rates on Factor Incomes and Consumption

Mendoza, Enrique G.; Razin, Assaf; Tesar, Linda L. - National Bureau of Economic Research (NBER) - 1994

This paper proposes a method for computing tax rates using national accounts and revenue statistics. Using this method we construct time-series of tax rates for large industrial countries. The method identifies the revenue raised by different taxes at the general government level and defines...

Persistent link: https://www.econbiz.de/10005714188

Supply-Side Economics in a Global Economy

Mendoza, Enrique G.; Tesar, Linda L. - National Bureau of Economic Research (NBER) - 1995

Recent quantitative studies predict large welfare gains from reducing tax distortions in a closed economy, despite costly transitional dynamics to more efficient tax systems. This paper examines transitional dynamics and gains of tax reforms for countries in a global economy, and provides...

Persistent link: https://www.econbiz.de/10005720590

Fiscal Policy and Macroeconomic Uncertainty in Developing Countries: The Tale of the Tormented Insurer

Mendoza, Enrique G.; Oviedo, P. Marcelo - National Bureau of Economic Research (NBER) - 2006

Governments in emerging markets often behave like a "tormented insurer," trying to use non-state-contingent debt instruments to avoid cuts in payments to private agents despite large fluctuations in public revenues. In the data, average public debt-GDP ratios decline as the variability of...

Persistent link: https://www.econbiz.de/10005774994

International Evidence on Fiscal Solvency: Is Fiscal Policy "Responsible"?

Mendoza, Enrique G.; Ostry, Jonathan David - National Bureau of Economic Research (NBER) - 2007

This paper looks at fiscal solvency and public debt sustainability in both emerging market and advanced countries. Evidence of fiscal solvency, in the form of a robust positive conditional relationship between public debt and the primary fiscal balance, is established in both groups of...

Persistent link: https://www.econbiz.de/10005089255

Enhancing the Effectiveness of Public Spending: Experience in OECD Countries

Joumard, Isabelle; Kongsrud, Per Mathis; Nam, Young-Sook; … - Economics Department, Organisation de Coopération et … - 2004

In most OECD countries, public spending rose steadily as a share of GDP over the past decades to the mid-1990s, but this trend has since abated. The spending pressures stemming from the continued expansion of social programmes have been partly compensated by transient or one-off factors....

Persistent link: https://www.econbiz.de/10005045600