Ee try to answer two very important questions; firstly if the Greek fiscal policy has been consistent with the government intertemporal budget constraint during the two tested periods, 1833-2009 and 1960-2009. We separate the last 50 years which according to most politicians was the problematic...

Estimate the impact of public debt on productivity and investments Empirical analysis, panel data, threshold models Debt impacts negatively on the determinants of growth There is evidence of asymmetric effects

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In the wake of the recent crisis many countries face problems caused by budget deficits. To be able to lower their budget deficits these governments should conduct their expenditures at the lowest possible prices. To achieve this objective many countries use auctions to administer government...

Using a complex long-run growth model, this paper investigates the long-term sustainability of the pension system in the Slovak Republic. The long-run growth model employed in the paper is able to perform projections for several decades ahead, which is necessary for this type of analysis. The...

Reassess the size of the fiscal multiplier in times of crisis Non-Ricardian DSGE model with a detailed fiscal sector Multipliers tend to be larger in times of crisis

This paper builds spatial microfoundations for the functional forms used in the analysis of inter-jurisdictional public spending spillovers. The paper introduces a symmetric bilateral model that distinguishes between three stages: production of multiple public inputs (intermediary goods),...

The current economic crisis has led several rich countries to experience severe fiscal deficits. Among other factors responsible for the situation, corruption is considered harmful to public finances and appears closely related to fiscal deficits. This paper opens a new avenue in addressing the...

Inspired by the current European crisis, the main goal of this paper is to find how to promote investment, as we think that it has a crucial role on firms’ evolution and economic performance. In fact, our motivation is to find a possible solution to promote economic growth with few Government...

Over the past century, most industrialized countries have adopted public pension systems based pay-as-you-go system, according to which the actual contributors pay the pensions of the actual pensioners, with the expectation that future taxpayers pay their pensions when they retire. The evolution...