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Does Government Spending Efficiency Improve Fiscal Sustainability?

Afonso, António; Alves, José - 2022

We evaluate the impact of government spending efficiency on fiscal sustainability for a panel of 35 OECD countries during the period of 2007-2020. To answer our research question we first compute the magnitude of the responses of government revenues to changes in government spending. Next, we...

Persistent link: https://www.econbiz.de/10013289691

To Consolidate or Not to Consolidate? A Multi-Step Analysis to Assess Needed Fiscal Sustainability

Afonso, António; Alves, José; Tovar Jalles, João - 2022

We assess the specific need (or its absence) of a country to implement a fiscal consolidation programme by focusing specifically on their degree of success, notably in terms of fiscal sustainability. The “need” to consolidate is based on having a primary balance above or below the...

Persistent link: https://www.econbiz.de/10013296715

Ricardian fiscal regimes in the European Union

Afonso, António - In: Empirica : journal of european economics 35 (2008) 3, pp. 313-334

Persistent link: https://www.econbiz.de/10003726486

The Effects of Monetary Policy Surprises and Fiscal Sustainability Regimes in the Euro Area

Afonso, António; Alves, José; Ionta, Serena - 2023

We study the effect of monetary surprise shocks on real output and the price level, conditioned on different fiscal sustainability regimes in the period 2001Q4-2021Q4. First, we estimate time-varying fiscal sustainability coefficients based on Bohn’s (1998) approach through Schlicht’s (2003)...

Persistent link: https://www.econbiz.de/10014346445

Spend-and-tax : a panel data investigation for the EU

Afonso, António; Rault, Christophe - 2009

Using bootstrap panel analysis, allowing for cross-country correlation, without the need of pre-testing for unit roots, we study the causality between government spending and revenue for the EU in the period 1960-2006. We find spend-and-tax causality for Italy, France, Spain, Greece, and...

Persistent link: https://www.econbiz.de/10010276304

A longer-run perspective on fiscal sustainability

Afonso, António; Jalles, João Tovar - In: Empirica : journal of european economics 41 (2014) 4, pp. 821-847

Persistent link: https://www.econbiz.de/10010482260

Fiscal policy and the real exchange rate : some evidence from Spain

Bajo Rubio, Oscar; Berke, Burcu; Esteve García, Vicente - In: Empirica : journal of european economics 47 (2020) 2, pp. 267-280

Persistent link: https://www.econbiz.de/10012224262

Are Fiscal Consolidation Episodes Helpful for Public Sector Efficiency?

Afonso, António; Alves, José - 2022

We assess the consequences of fiscal consolidation episodes on public sector efficiency (scores) for 35 OECD countries for the 2007-2020 period. We find that fiscal consolidations improve public sector efficiency and results are robust across efficiency models. Moreover, peripheral euro-area...

Persistent link: https://www.econbiz.de/10014083319

Fiscal Sustainability, Fiscal Reactions, Pitfalls and Determinants

Afonso, António; Coelho, José Carlos - 2022

We examine the sustainability of public finances and its determinants for 19 Eurozone countries from 1995 to 2020. We conclude for the existence of panel cointegration between government revenues and expenditures; primary government balance and one-period lagged public debt-to-GDP ratio; and...

Persistent link: https://www.econbiz.de/10013296248

Consumption Patterns of Indebted Households : Unravelling the Relevance of Fiscal Policy

Afonso, António; Sá Fortes Leitão Rodrigues, Eduardo de - 2023

consumption in two different samples and two measures of household debt to provide a comprehensive analysis of the topic. We used … fiscal impulses increase private consumption, but when households are highly indebted, patterns change, and increased … government spending or reduced taxes, in the presence of high indebtedness, actually discourage household consumption compared to …

Persistent link: https://www.econbiz.de/10014346252