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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

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

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

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

We have investigated the influence of fiscal instruments, notably taxes on income and government spending, on household consumption in two different samples and two measures of household debt to provide a comprehensive analysis of the topic. We used dynamic panel models and the GMM approach for...

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

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

Fiscal Stimulus in Economic Unions : What Role for States?

Carlino, Gerald - 2015

The Great Recession and the subsequent passage of the American Recovery and Reinvestment Act returned fiscal policy, and particularly the importance of state and local governments, to the center stage of macroeconomic policy-making. This paper addresses three questions for the design of...

Persistent link: https://www.econbiz.de/10012456989

Macro Fiscal Policy in Economic Unions : States as Agents

Carlino, Gerald - 2013

The American Recovery and Reinvestment Act (ARRA) was the US government's fiscal response to the Great Recession. An important component of ARRA's $796 billion proposed budget was $318 billion in fiscal assistance to state and local governments. We examine the historical experience of federal...

Persistent link: https://www.econbiz.de/10012459102

Fiscal Policies in Open Cities with Firms and Households

Haughwout, Andrew - 2000

With the renewed interest in cities as economic centers comes a need to understand how local public services and local taxes are likely to affect city economic performance. This paper provides an equilibrium model of an open city economy with mobile firms and resident workers. Given household...

Persistent link: https://www.econbiz.de/10012470920

Do Balanced Budget Rules Work? U.S. Experience and Possible Lessons for the EMU

Inman, Robert P. - 1996

The `Excessive Deficit Procedure' of the Maastricht Treaty on Economic and Monetary Union proposes two fiscal convergence conditions for entry and continued membership in the EMU: 1) a country's overall budget deficit for each fiscal year must be equal to or below 3% of GDP, and 2) a country's...

Persistent link: https://www.econbiz.de/10012472990

Presidential Leadership and the Reform of Fiscal Policy : Learning from Reagan's Role in TRA 86

Inman, Robert P. - 1993

and a credible veto to force "all-or-nothing" choices between reform and the inefficient status quo. President Reagan …'s role in the passage of the Tax Reform Act of 1986 is detailed in the light of this model; the analysis reveals the role of … executive resources and the importance of the veto strategy to major fiscal reform …

Persistent link: https://www.econbiz.de/10012474556

Fiscal Federalism in Europe : Lessons From the United States Experience

Inman, Robert P. - 1991

centralized policy structure via the E.E.C.. This paper seeks to raise issues of importance to all such reform efforts …

Persistent link: https://www.econbiz.de/10012475043