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Using a new fiscal dataset for small states, this paper analyzes the link between country size, government size, debt, and economic performance. It finds that on average small states have larger governments and higher public debt. Although there are intrinsic factors that explain why governments...
Persistent link: https://www.econbiz.de/10012772705
Using a new fiscal dataset for small states, this paper analyzes the link between country size, government size, debt, and economic performance. It finds that on average small states have larger governments and higher public debt. Although there are intrinsic factors that explain why governments...
Persistent link: https://www.econbiz.de/10014401334
This paper surveys the empirical research on fiscal institutions of the last three decades. The main results are: (i) Constitutional or statutory fiscal limitations have in most cases proved to be effective in cutting down public expenditure, revenue, and debt. (ii) Budgetary proce-dures matter...
Persistent link: https://www.econbiz.de/10011408436
Persistent link: https://www.econbiz.de/10015194487
Persistent link: https://www.econbiz.de/10001935030
This paper studies the effects of Belgian fiscal federalism/fiscal decentralisation on the size of government and on the overall fiscal balance. The effects of Belgian fiscal federalism/fiscal decentralisation have so far hardly been studied empirically. This holds in particular for the...
Persistent link: https://www.econbiz.de/10013059883
A number of institutional and non-institutional factors, not only economically rational but also political and historical, have risen in the long after war debate about the public sector's expansion, size and structure. Obvious inefficiencies, mounting resistance to further increases of tax...
Persistent link: https://www.econbiz.de/10010255752
Elevated levels of government debt raise concerns about their effects on long-term growth prospects. Using the cross section of US stock returns, we show that (i) high-R&D firms are more exposed to government debt and pay higher expected returns than low-R&D firms; and (ii) higher levels of the...
Persistent link: https://www.econbiz.de/10011962223
Persistent link: https://www.econbiz.de/10015076456
Given the rise in the government debt level in recent times, this paper aims to examine the effect of an increase in government size on risk premium and its transmission in the economy. We jointly identify the term spread shock (originating at the short end and the long end) and the government...
Persistent link: https://www.econbiz.de/10014525770