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Managing the Public Debt in Fiscal Stabilizations : The Evidence

Missale, Alessandro; Giavazzi, Francesco; Benigno, Pierpaolo - 1997

This paper provides evidence on the behavior of public debt managers during fiscal stabilizations in OECD countries over the last two decades. We find that debt maturity tends to lengthen the more credible is the program, the lower is the long-term interest rate and the higher is the volatility...

Persistent link: https://www.econbiz.de/10014081767

Managing the Public Debt in Fiscal Stabilizations : The Evidence

Missale, Alessandro - 1997

This paper provides evidence on the behavior of public debt managers during fiscal" stabilizations in OECD countries over the last two decades. We find that debt maturity tends to" lengthen the more credible the program, the lower the long-term interest rate and the higher the" volatility of...

Persistent link: https://www.econbiz.de/10012472502

Managing the Public Debt in Fiscal Stabilizations : The Evidence

Missale, Alessandro; Giavazzi, Francesco; Benigno, Pierpaolo - 2021

Persistent link: https://www.econbiz.de/10013210679

Union debt management

Equiza-Goni, Juan; Faraglia, Elisa; Oikonomou, Rigas - 2018

Persistent link: https://www.econbiz.de/10012692659

Redistribution of return inequality

Schulz, Karl - 2021

Wealthier households obtain higher returns on their investments than poorer ones. How should the tax system account for this return inequality? I study capital taxation in an economy in which return rates endogenously correlate with wealth. The leading example is a financial market, where the...

Persistent link: https://www.econbiz.de/10012499593

Optimal debt maturity under EMU

Giordano, Raffaela - 2001

Persistent link: https://www.econbiz.de/10013439246

Fiscal sustainability assessment for Suriname 1978-2017 : a fiscal reaction function approach

Mungroo, Albert; Tjon Kie Sim-Balker, Peggy - 2020

High and unsustainable public debt is an economic problem at the center of many emerging and developing economies. This paper investigates, for the period 1978-2017, how the Surinamese Government reacted to changes in public debt for the period 1978-2017 and assesses if fiscal policy was...

Persistent link: https://www.econbiz.de/10012298406

Fiscal consolidation and public wages

Chang, Juin-jen; Lin, Hsieh-Yu; Traum, Nora; Yang, … - 2019

the substantial contractionary effects of the latter. In addition, the baseline estimation finds that exogenous public …

Persistent link: https://www.econbiz.de/10012102036

(Non-)Keynesian effects of fiscal austerity : new evidence from a large sample

Afonso, António; Alves, José; Huart, Florence - 2021

We empirically assess whether a usually expected negative response of private consumption and private investment to a fiscal consolidation is reversed. We focus on a large sample of 174 countries between 1970 and 2018. We also employ three alternative measures of the Cyclically Adjusted Primary...

Persistent link: https://www.econbiz.de/10012504460

Optimal Taxation in Theory and Practice

Mankiw, Nicholas Gregory - 2010

We highlight and explain eight lessons from optimal tax theory and compare them to the last few decades of OECD tax … policy. As recommended by theory, top marginal income tax rates have declined, marginal income tax schedules have flattened … theory. Moreover, some of theory's more subtle prescriptions, such as taxes that involve personal characteristics, asset …

Persistent link: https://www.econbiz.de/10013152503