The purpose of budget rules can be explored from the perspective of the expected results, obtained by their enforcement. On one hand, they are meant to improve or at least maintain certain levels of the budgetary deficit and public debt. On the other hand, they can help or limit the economic...

An examination of how increased turnover among legislators in the fifty U.S. states affects fiscal policy and economic growth finds that it makes legislators short-sighted. Turnover increases the size of government by increasing the shares of both total spending and taxes in income. In...

The paper reviews studies analysing the relationship between infrastructures and economic performance. Four different approaches are separately considered along an ideal path from theory-based to data-oriented models: the production function approach, the cost function approach, growth-models,...

In this paper, we test sustainability of Cameroon’s fiscal policy using the approach developed by Bohn (1998). We apply non parametric and semi-parametric regressions with time depending coefficients to estimate fiscal policy reaction function in Cameroon between 1975 and 2005. We find out...

The aim of our paper is to provide a comprehensive study of public debt in various aspects across the European Union,emphasizing the existing distinctions between the emerging and advanced economies in Europe. Using annual data ranging from 1995 to 2013 we develop investigation manifold....

In this paper, we test sustainability of Cameroon’s fiscal policy using the approach developed by Bohn (1998). We apply non parametric and semi-parametric regressions with time depending coefficients to estimate fiscal policy reaction function in Cameroon between 1975 and 2005. We find out...

The paper aims to critically examine the problems of public debt in Italy under the criteria of the Maastricht Treaty and subsequent decisions by Europe in tax matters. On this issue, the paper shows Italy's efforts in the direction of the Maastricht criteria, but also highlights the problems to...

There is a widespread view that reducing national debts and deficits, or “consolidating” them, causes austerity or would hinder the recovery. The reality is that reducing structural debts and deficits and “stimulus debts” is easily done without any significant deflationary effects. In...

The convergence criteria group together those macro variables whose dimensions mean to put in good use, to potentiate and to strengthen the major benefits of integration, as their configuration, either before and especially after the adhesion in EU, represents strict and compulsory requirements...

Fiscal rules, such as the Excessive Deficit Procedure and the Stability and Growth Pact (SGP), aim at constraining government behavior. Milesi-Ferretti (2003) develops a model in which governments circumvent such rules by reverting to creative accounting. The amount of this depends on the...