Narrow search
Showing 1 - 10 of 606
Cover Image
What Determines Government Spending Multipliers?
Corsetti, Giancarlo; Meier, André; Müller, Gernot - C.E.P.R. Discussion Papers - 2012
This paper studies how the effects of government spending vary with the economic environment. Using a panel of OECD countries, we identify fiscal shocks as residuals from an estimated spending rule and trace their macroeconomic impact under different conditions regarding the exchange rate...
Persistent link: https://www.econbiz.de/10011083665
Cover Image
`Excessive Deficits': Sense and Nonsense in the Treaty of Maastricht
Buiter, Willem H.; Corsetti, Giancarlo; Roubini, Nouriel - C.E.P.R. Discussion Papers - 1992
In this paper we evaluate internationally agreed limits on public sector debt and deficits, such as those agreed by the EC countries in the Treaty of Maastricht as preconditions for membership in a monetary union. These fiscal convergence criteria require that general government budget deficits...
Persistent link: https://www.econbiz.de/10005123755
Cover Image
Cyclical and Structural Deficits on the Road to Accession: Fiscal Rules for an Enlarged European Union
Coricelli, Fabrizio; Ercolani, Valerio - C.E.P.R. Discussion Papers - 2002
and growth Pact but focuses on ex ante limits to expenditure. Such a rule would imply that in periods of growth above …
Persistent link: https://www.econbiz.de/10005123632
Cover Image
Russian Fiscal Federalism: Impact of Political and Fiscal (De)centralization
Alexeev, Michael; Weber, Shlomo - C.E.P.R. Discussion Papers - 2013
and expenditure and management responsibilities of different levels of government. While the creation of federal districts … evaluating the response of regional government’s expenditures to changes in the size of the GRP (gross regional product) and to … changes in the region’s tax collections. While the results related to regional shares of tax revenues and expenditures are …
Persistent link: https://www.econbiz.de/10011084505
Cover Image
FISCAL POLICY AND THE CURRENT ACCOUNT: HISTORICAL, THEORETICAL AND POLICY PERSPECTIVES, AND "TWIN DEFICIT" AND THE AUSTRALIAN MODELS COMMENTS ON A CONFERENCE.
NGUYEN, D.T.; PAGAN, A. - Research School of Economics, College of Business and … - 1990
Persistent link: https://www.econbiz.de/10004977290
Cover Image
Taxes and Subsidies in the Transforming Hungarian Economy
Revesz, Tamas; Zalai, Erno - C.E.P.R. Discussion Papers - 1992
taxation and the various forms of subsidy and social welfare provision. Despite the removal of many former subsidies, the paper … research exercise!), further reform of the tax and public expenditure system, and extensive training of Hungary's public …
Persistent link: https://www.econbiz.de/10005136594
Cover Image
Mr Ricardo's Great Adventure: Estimating Fiscal Multipliers in a Truly Intertemporal Model
Bayoumi, Tamim; Sgherri, Silvia - C.E.P.R. Discussion Papers - 2006
We estimate tax multipliers in a "Blanchard-Yaari" consumption model where Ricardian equivalence is broken because the private sector discounts the future at a faster rate than the real rate of interest. The model fits U.S. data since 1955 extremely well-entailing a discount wedge of around 20...
Persistent link: https://www.econbiz.de/10005114505
Cover Image
Risk Sharing and Moral Hazard with a Stability Pact
Beetsma, Roel; Jensen, Henrik - C.E.P.R. Discussion Papers - 1999
We show how a stability pact based on deficit sanctions eliminates the exacerbation of debt accumulation that may arise from monetary unification. Moreover, by making sanctions contingent upon the economic situation of countries, the stability pact provides for risk sharing. Differences in...
Persistent link: https://www.econbiz.de/10005504345
Cover Image
Estimating the Impact of Gubernatorial Partisanship on Policy Settings and Economic Outcomes: A Regression Discontinuity Approach
Leigh, Andrew - Research School of Economics, College of Business and … - 2007
Using panel data from US states over the period 1941-2002, I measure the impact of gubernatorial partisanship on a wide range of different policy settings and economic outcomes. Across 32 measures, there are surprisingly few differences in policy settings, social outcomes and economic outcomes...
Persistent link: https://www.econbiz.de/10004977260
Cover Image
What’s the Difference Between a Donkey and an Elephant? Using Panel Data from US States to Estimate the Impact of Partisanship on Policy Settings and Economic Outcomes
Leigh, Andrew - Research School of Economics, College of Business and … - 2005
Using panel data from US states, I measure the impact of partisanship on a wide range of different policy settings and economic outcomes. Across 32 measures, there are surprisingly few differences in policy settings, social outcomes and economic outcomes under Democrats and Republicans. In terms...
Persistent link: https://www.econbiz.de/10005032821