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The Effects of Fiscal Institutions on Public Finance: A Survey of the Empirical Evidence
Kirchgässner, Gebhard - CESifo - 2001
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/10005094328
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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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Public Investment and Re-election Prospects in Developed Countries
Katsimi, Margarita; Sarantides, Vassilis - CESifo - 2011
their re-election. This paper investigates the impact of electoral manipulation of the level and composition of fiscal … policy on incumbent’s re-election prospects. This impact is estimated for a panel of 21 OECD countries over the period 1972 … towards public investment can improve re-election prospects. On the contrary, election year manipulation via public investment …
Persistent link: https://www.econbiz.de/10009294094
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Do Elections Affect the Composition of Fiscal Policy?
Katsimi, Margarita; Sarantides, Vassilis - CESifo - 2010
. Our results indicate that the fall in revenue in election periods is attributed to a fall in direct taxation. The …
Persistent link: https://www.econbiz.de/10008534045
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Using Real-Time Data to Test for Political Budget Cycles
Jong-A-Pin, Richard; Sturm, Jan-Egbert; Haan, Jakob de - CESifo - 2012
data are not affected by elections. However, we do find that governments spend more than reported before an election which … enhance his perceived competence. We also find that governments had higher current receipts than reported before an election …
Persistent link: https://www.econbiz.de/10010575440
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Fiscal Reforms during Fiscal Consolidation: The Case of Italy
Arachi, Giampaolo; Bucci, Valeria; Longobardi, Ernesto; … - CESifo - 2012
In this paper we aim to discuss the strengths and weaknesses of the fiscal consolidation package adopted recently by the Italian Government in order to achieve a balanced budget by 2013. Revenues are forecasted to increase by more than 3.3 GDP percentage points; these stem mostly from indirect...
Persistent link: https://www.econbiz.de/10009651857
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Fiscal Adjustments and Business Cycle Synchronization
Agnello, Luca; Caporale, Guglielmo Maria; Sousa, Ricardo M. - CESifo - 2013
Using a panel of annual data for 20 countries we show that synchronized fiscal consolidation (stimulus) programmes in different countries make their business cycles more closely linked, especially in the case of fiscal adjustments lasting 2 or 3 years. We also find: (i) little evidence of...
Persistent link: https://www.econbiz.de/10010721606
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Cross-Border Effects of Fiscal Consolidations: Estimates Based on Narrative Records
Hebous, Shafik; Zimmermann, Tom - CESifo - 2013
We estimate cross-border spillover effects of fiscal consolidation episodes on output, bilateral trade flows, interest rate, and the exchange rate, employing the new IMF action-based fiscal consolidation data. Results indicate a negative effect of foreign fiscal consolidation policies on...
Persistent link: https://www.econbiz.de/10010674455
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Evidence on Fiscal Consolidations and the Evolution of Public Debt in Europe
Cafiso, Gianluca; Cellini, Roberto - CESifo - 2012
The objective of this paper is to gain insights into the relationship between deficit-reducing policies and the evolution of the debt/GDP ratio. We consider past events of fiscal consolidation in a selected group of EU countries, by using the new data set recently made available by Devries et...
Persistent link: https://www.econbiz.de/10010598914
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Optimal Fiscal Policy
Lukkezen, Jasper; Teulings, Coenraad N. - CESifo - 2013
This paper derives and estimates rules for fiscal policy that prescribe the optimal response to changes in unemployment and debt. We combine the reduced-form model of the economy from a linear VAR with a non-linear welfare function and obtain analytic solutions for optimal policy. The variables...
Persistent link: https://www.econbiz.de/10010659180