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Economic growth and budgetary components: a panel assessment for the EU

Afonso, António; González Alegre, Juan - 2008

In this paper we test whether a reallocation of government budget items can enhance long-term GDP growth in a set of European countries. We apply modern panel data techniques to the period 1970-2006, and we use three alternative dependent variables in a growth regression: economic growth, total...

Persistent link: https://www.econbiz.de/10011604894

Government size, composition, volatility and economic growth

Afonso, António; Furceri, Davide - 2008

This paper analyses the effects in terms of size and volatility of government revenue and spending on growth in OECD and EU countries. The results of the paper suggest that both variables are detrimental to growth. In particular, looking more closely at the effect of each component of government...

Persistent link: https://www.econbiz.de/10011604895

Globalisation and the euro area: simulation based analysis using the New Area Wide Model

Straub, Roland; Jacquinot, Pascal - 2008

labour markets would amplify the benefits associated with globalisation. …

Persistent link: https://www.econbiz.de/10011604953

Fiscal policy and growth: do financial crises make a difference?

Afonso, António; Grüner, Hans Peter; Kolerus, Christina - 2010

In this paper we assess to what extent in the existence of a financial crisis, government spending can contribute to mitigate economic downturns in the short run and whether such impact differs in crisis and non crisis times. We use panel analysis for a set of OECD and non-OECD countries for the...

Persistent link: https://www.econbiz.de/10011605263

The impact of high and growing government debt on economic growth: an empirical investigation for the euro area

Checherita-Westphal, Cristina; Rother, Philipp - 2010

This paper investigates the average impact of government debt on per-capita GDP growth in twelve euro area countries over a period of about 40 years starting in 1970. It finds a non-linear impact of debt on growth with a turning point—beyond which the government debt-to-GDP ratio has a...

Persistent link: https://www.econbiz.de/10011605283

What determines fiscal policy?: evidence from German states

Berger, Helge; Holler, Anika - 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/10010264180

Does tax competition really promote growth?

Koethenbuerger, Marko; Lockwood, Benjamin - 2007

This paper considers the relationship between tax competition and growth in an endogenous growth model where there are … input. Absent stochastic shocks, decentralized tax setting (two or more jurisdictions) maximizes the rate of growth, as the … constant returns to scale present with endogenous growth implies "extreme" tax competition. Stochastic shocks imply that …

Persistent link: https://www.econbiz.de/10010264214

A growth oriented dual income tax

Keuschnigg, Christian; Dietz, Martin D. - 2005

This paper proposes a growth-oriented dual-income tax by combining an allowance for corporate equity with a broadly … defined flat tax on personal capital income. Revenue losses are compensated by an increase in the value added tax. The paper …. Tax rates are chosen to prevent income shifting from labor to capital income. The reform decisively strengthens investment …

Persistent link: https://www.econbiz.de/10010271071

What are the effects of tax changes in the United Kingdom? New evidence from a narrative evaluation

Cloyne, James - 2011

This paper estimates the effects of tax changes on the U.K. economy. Identification is achieved by isolating the … 'exogenous' tax policy shocks in the post-war U.K. economy using a narrative strategy as in Romer and Romer (2010). The resulting … tax changes are shown to be unforecastable on the basis of past macroeconomic data. I find that a 1 per cent cut in taxes …

Persistent link: https://www.econbiz.de/10010274733

Ageing, government budgets, retirement, and growth

Gonzalez-Eiras, Martín; Niepelt, Dirk - 2011

We analyze the short and long run effects of demographic ageing - increased longevity and reduced fertility - on per-capita growth. The OLG model captures direct effects, working through adjustments in the savings rate, labor supply, and capital deepening, and indirect effects, working through...

Persistent link: https://www.econbiz.de/10010274850