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Bringing French Public Debt Down: The Options for Fiscal Consolidation
Egert, Balazs - CESifo - 2012
and tackling age-related costs are the obvious candidates to contain expenditure. On the revenue side, there is … significant potential for cutting tax expenditures. Furthermore, eliminating distortions in the tax base would encourage economic …
Persistent link: https://www.econbiz.de/10010570047
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Consumption and Keynesian Fiscal Policy
Schclarek, Alfredo - CESifo - 2004
This paper empirically studies the effects of fiscal policy shocks on private consumption. Further, it tries to determine if the level of government bond yield and the unemployment rate affect that relationship. We use yearly data between 1970 and 2000 for thirty-eight countries, of which half...
Persistent link: https://www.econbiz.de/10005181323
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What Determines Fiscal Policy? Evidence from German States
Berger, Helge; Holler, Anika - CESifo - 2007
This paper explores the factors behind the time path of real spending and revenue in the West German states from 1975 to 2004. The empirical approach stresses robustness and takes into account a large set of economic and political variables. Our results suggest that common economic factors and,...
Persistent link: https://www.econbiz.de/10005416450
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Productive Government Expenditure and Economic Growth
Irmen, Andreas; Kuehnel, Johanna - CESifo - 2008
We provide a comprehensive survey of the recent literature on the link between productive government expenditure and … recommendations. Moreover, the inclusion of hitherto unexplored types of government expenditure, e. g., on the “rule of law”, would be …
Persistent link: https://www.econbiz.de/10005196238
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Understanding the Emergence of Public Debt
Fochmann, Martin; Sadrieh, Abdolkarim; Weimann, Joachim - CESifo - 2014
We use a controlled laboratory experiment with and without overlapping generations to study the emergence of public debt. Public debt is chosen by popular vote, pays for public goods, and is repaid with general taxes. With a single generation, public debt is accumulated prudently, never leading...
Persistent link: https://www.econbiz.de/10010877837
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Fiscal Autonomy and Fiscal Sustainability: Subnational Taxation and Public Indebtedness in Contemporary Spain
Larin, Benjamin; Süssmuth, Bernd - CESifo - 2014
This study assesses fiscal sustainability in contemporary Spain at the regional level. Spain consists of 17 autonomous regions, two fiscal regimes differing in taxing autonomy, and two path-dependent types of communities with more and less legislatively recognized autonomy. Three of the 17...
Persistent link: https://www.econbiz.de/10010756168
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Cyclical Fiscal Policy, Output Volatility, and Economic Growth
Badinger, Harald - CESifo - 2008
This paper provides a comprehensive empirical assessment of the relation between the cyclicality of fiscal policy, output volatility, and economic growth, using a large cross-section of 88 countries over the period 1960 to 2004. Identification of the effects of (endogenous) cyclical fiscal...
Persistent link: https://www.econbiz.de/10005765701
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Revisiting the Narrative Approach of Estimating Tax Multipliers
Hebous, Shafik; Zimmermann, Tom - CESifo - 2014
A number of recent studies regress a “narratively” identified measure of a macroeconomic shock directly on an outcome variable. In this note, we argue that this approach can be viewed as the reduced-form regression of an instrumental variable approach in which the narrative time series is...
Persistent link: https://www.econbiz.de/10010948895
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Fiscal Reforms during Fiscal Consolidation: The Case of Italy
Arachi, Giampaolo; Bucci, Valeria; Longobardi, Ernesto; … - CESifo - 2012
.3 GDP percentage points; these stem mostly from indirect and property taxation. The analysis of the Italian case is … taxation from personal and corporate income tax to indirect taxation. Our proposal allows the tax burden on firms to be reduced … distribution since they are penalized most by the increase in indirect taxation. …
Persistent link: https://www.econbiz.de/10009651857
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Partial Fiscal Decentralization and Sub-National Government Fiscal Discipline: Empirical Evidence from OECD Countries
Asatryan, Zareh; Feld, Lars P.; Geys, Benny - CESifo - 2015
Recent theoretical research suggests that financing sub-national governments’ expenditure out of own revenue sources is …
Persistent link: https://www.econbiz.de/10011212074