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Fiscal spillovers in the Euro area
Caporale, Guglielmo Maria; Girardi, Alessandro - 2011
This paper analyses the dynamic effects of fiscal imbalances in a given EMU member state on the borrowing costs of other countries in the euro area. The estimation of a multivariate, multi-country time series model (specifically a Global VAR, or GVAR) using quarterly data for the EMU period...
Persistent link: https://www.econbiz.de/10010280818
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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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Public Finances Solvency in the Euro Area : True or False?
Afonso, António; Coelho, Jose Carlos - 2022
We assess public finances solvency for Euro Area countries using quarterly data between 1999Q1 and 2020Q4. Through a country-by-country analysis, the answer to the title question is true. For most countries, (i) the primary budget balance reacts positively to the lagged public debt ratio and...
Persistent link: https://www.econbiz.de/10014076999
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Twin Deficits Through the Looking Glass : Time-Varying Analysis in the Euro Area
Afonso, António; Coelho, José Carlos - 2022
Using two measures of the fiscal position, the cyclically adjusted primary budget balance (CAPB) and the total budget balance, we assess the Twin Deficit Hypothesis for the Euro Area in the period 1995-2020. Furthermore, we estimate time-varying coefficients of the current account balance...
Persistent link: https://www.econbiz.de/10013306033
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The Euro Crisis and Economic Growth : A Novel Counterfactual Approach
Terzi, Alessio - 2019
warranted. To make this claim, this paper uses a Propensity Score Matching Model to produce counterfactuals for the Eurozone … more in the Eurozone periphery than in the standard counterfactual scenario. These results are not dictated by any specific … Eurozone's specificity, which is instead to be traced back to a sharper-than-expected contraction in investment and fiscal …
Persistent link: https://www.econbiz.de/10012866042
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Can there be a wave-like association between economic growth and inequality? Theory and lessons for East Asia from the Middle East
Gangopadhyay, Partha; Bhattacharyay, Biswa N. - 2012
ominous messages for using equitable growth in fighting poverty. Rapid growing developing economies need to adopt appropriate …
Persistent link: https://www.econbiz.de/10010288473
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Resource Windfalls, Macroeconmic Stability and Growth: The Role of Political Institutions
Arezki, Rabah; Hamilton, Kirk; Kazimov, Kazim - 2011
We use a new dataset on non-resource GDP to examine the performance of commodity-exporting countries in terms of macroeconomic stability and economic growth in a panel of up to 129 countries during the period 1970-2007. Our main findings are threefold. First, we find that overall government...
Persistent link: https://www.econbiz.de/10010280640
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Sea Surface Temperature and Tuna Catch in the Eastern Pacific Ocean Under Climate Change
Mediodia, Hanny John - 2020
The increase in sea surface temperature (SST) is one of the primary consequences of climate change and has the potential to impact tuna fisheries. This paper theoretically models and then applies the production function approach to establish a positive but non-linear relationship between catch...
Persistent link: https://www.econbiz.de/10012823563
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Bringing French public debt down: The options for fiscal consolidation
Egert, Balazs - 2012
France has a track record of persistent general government deficits, partly reflecting pro-cyclical fiscal policies in upswings. This has resulted in a quadrupling of its public debt-to-GDP ratio since the 1970s to above 80% of GDP. Reducing public debt is crucial because a high level of public...
Persistent link: https://www.econbiz.de/10010288248
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Testing sustainability of German fiscal policy : evidence for the period 1960 - 2003
Greiner, Alfred; Koeller, Uwe; Semmler, Willi - 2005
In this paper we test whether German public debt has been sustainable by resorting to a test proposed by Bohn (1998). We apply non-parametric and semi-parametric regressions with time depending coefficients. This test shows that the mean of the coefficient relevant for sustainability has been...
Persistent link: https://www.econbiz.de/10010261129