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We examine the investment rule that must be satisfied by an efficient and egalitarian path in a discrete-time version of the Dasgupta-Heal-Solow model of capital accumulation and resource depletion. In the discrete-time model, competitive valuation of net investments in terms of early and late...
Persistent link: https://www.econbiz.de/10012908689
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 … of the fiscal sustainability parameters and structural breaks in the fiscal outcomes after the crisis. Namely, in …
Persistent link: https://www.econbiz.de/10012908672
In this paper, I demonstrate that an indicator which is commonly used to assess the long-term fiscal sustainability of … than the growth rate of GDP. I illustrate this finding based on simulations prepared for the Fifth Sustainability Report … sustainability, e.g., through demographic ageing …
Persistent link: https://www.econbiz.de/10013249654
We evaluate the impact of government spending efficiency on fiscal sustainability for a panel of 35 OECD countries … the input efficiency scores obtained, countries’ fiscal balance and fiscal sustainability is directly improved by the use … revenues, which also improves fiscal sustainability. Specifically, rationalising public expenditures without jeopardising the …
Persistent link: https://www.econbiz.de/10013289691
We examine the sustainability of public finances and its determinants for 19 Eurozone countries from 1995 to 2020. We …-varying coefficients, we find that fiscal sustainability increases with growth, fiscal balances and fiscal rules indices, and decreases …
Persistent link: https://www.econbiz.de/10013296248
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 debt-stabilizing primary balance (provided by the IMF’s Debt Sustainability Analysis) for … each country. We then link the need for and the actual (historical) existence of fiscal adjustments to their sustainability …
Persistent link: https://www.econbiz.de/10013296715
Using an overlapping generations model, two new indicators of public pension system sustainability are proposed: the …
Persistent link: https://www.econbiz.de/10014347982
We show that the creation of the first integrated pan-European transport network during Roman times influences economic integration over two millennia. Drawing on spatially highly disaggregated data on excavated Roman ceramics, we document that interregional trade was strongly influenced by...
Persistent link: https://www.econbiz.de/10012866077
Are natural resources a 'curse' or a 'blessing'? The empirical evidence suggests either outcome is possible. The paper surveys a variety of hypotheses and supporting evidence for why some countries benefit and others lose from the presence of natural resources. These include that a resource...
Persistent link: https://www.econbiz.de/10010270490
We apply non-linear error-correction models to the empirical testing of the sustainability of the government …
Persistent link: https://www.econbiz.de/10010266076