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Populists and Fiscal Policy : The Case of Poland
Wysocki, Maciej; Wojcik, Cezary; Freytag, Andreas - 2022
looking at the case of Poland which according to several recent studies has experienced the highest level of populist … rhetorics in recent years. Indeed, when the new populist government took power, between 2015-2019, Poland experienced a major … estimations show that in the period of 2016-2019 fiscal sustainability parameters were the lowest since Poland joined the EU in …
Persistent link: https://www.econbiz.de/10014264454
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Financial Integration and Economic Growth in Europe
Caporale, Guglielmo Maria; Sova, Anamaria; Sova, Robert - 2023
This study examines the impact of financial integration on economic growth in the case of 31 European countries over the period from 2000 to 2021 using dynamic panel data models. The estimation results provide evidence of significant positive effects of financial integration on economic growth....
Persistent link: https://www.econbiz.de/10014346251
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Taxation Systems in the EU : The Role of Economic Integration and Global Financial Crisis
Erol, Kazim Okan - 2021
This study aims to scrutinize the change of public revenue systems of the EU-15 between 1980 and 2016. The share of consumption taxes in total tax revenues increases and this process have triggered higher tax burden on labor in most of the EU countries via indirect taxation. In this study I use...
Persistent link: https://www.econbiz.de/10013314956
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Adding Geography to the New Economic Geography
Bosker, Erik Maarten; Brakman, Steven; Garretsen, Harry; … - 2021
For reasons of analytical tractability, new economic geography (NEG) models treat geography in a very simple way: attention is either confined to a simple 2-region or to an equidistant multi-region world. As a result, the main predictions regarding the impact of e.g. diminishing trade costs are...
Persistent link: https://www.econbiz.de/10013316995
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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
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Reforming the Euro Pragmatically : Towards Sustainable Fiscal Policy and a Revamped Eurosystem
Oksanen, Heikki - 2019
The conflicting standpoints on reforming the euro are creating more controversies than practical results. Mistrust between the participants led to short-sighted fiscal discipline that has amplified the economic disturbances. Expert analysis on the proposed reforms is often deficient as the...
Persistent link: https://www.econbiz.de/10012860367
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The Euro Area Periphery Sovereigns' Fiscal Positions and Unconventional Monetary Policy
Hülsewig, Oliver - 2020
We explore the reaction of the euro area periphery sovereigns' fiscal positions to an unconventional monetary policy shock. We estimate panel vector autoregressive (VAR) models over the period 2010-2018, and identify the shock by imposing sign restrictions. Our results suggest that the...
Persistent link: https://www.econbiz.de/10012843420
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New Output Gap Estimates for Assessing Fiscal Policy with Lessons for Euro Area Reform
Oksanen, Heikki - 2019
Output gaps (OG) identify economic cycles and the cyclical and structural components in government budget balances. A new simple method for estimating OGs is presented here. The new results are more transparent than those published by the leading economic policy institutions. - The retroactive...
Persistent link: https://www.econbiz.de/10012892285
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Fiscal Sustainability in the EU after the Global Crisis : Is There Any Progress?
Wysocki, Maciej - 2018
sustainability outcomes? We approach this question by looking at the evolution of fiscal sustainability in Poland, which is an … fiscal sustainability in Poland has significantly improved in the post-crisis period of 2009-2017: we detect both improvement … 2014 Q1. The case of Poland seems to suggest that the post-crisis EU fiscal measures can be effectively used to increase …
Persistent link: https://www.econbiz.de/10012908672
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Designing the Policy Mix in a Monetary Union
Kempf, Hubert - 2020
This paper studies the design of the policy mix in a monetary union, that is, the institutional arrangement specifying the relationships between the various policymakers present in the union and the extent of their capacity of action. It is assumed that policymakers do not cooperate. Detailing...
Persistent link: https://www.econbiz.de/10012832189