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Calmfors, Lars - 2011

The paper analyses theoretically what role fiscal councils could play and surveys empirically the activities of existing councils. Case studies of the Swedish Fiscal Policy Council and the UK Office for Budget Responsibility are done. It is concluded that fiscal councils should be advisory,...

Persistent link: https://www.econbiz.de/10013128042

The Impact of Fiscal Rules on Public Finances : Theory and Empirical Evidence for the Euro Area

Marneffe, Wim - 2011

This paper presents a review of the most significant fiscal rules policymakers can choose from. The insights from this review are then applied to the current budgetary situation of the European Union. In the European Union, the supranational Stability and Growth Pact (SGP) should provide the...

Persistent link: https://www.econbiz.de/10013131350

3-Step Analysis of Public Finances Sustainability : The Case of the European Union

Afonso, António - 2008

specific panel unit root test to investigate the mean-reverting behaviour of general government expenditures and revenues … ratios. Secondly, we apply the bootstrap panel cointegration techniques that account for the time series and cross … and revenues via SUR analysis. While results imply that public finances were not unsustainable for the EU panel, fiscal …

Persistent link: https://www.econbiz.de/10012770443

What Do We Really Know About Fiscal Sustainability in the EU? A Panel Data Diagnostic

Afonso, António; Rault, Christophe - 2021

, we use panel unit root tests of the first and second generation allowing in some cases for structural breaks. We also … apply modern panel cointegration techniques developed by Pedroni (1999, 2004), generalized by Banerjee and Carrion … panel set, and within some sub-periods …

Persistent link: https://www.econbiz.de/10013316576

The EU Budget Dispute - A Blessing in Disguise?

Schneider, Ondrej - 2007

This paper analyses the European budget and the position of the ten new member states. We argue that the EU budget should be reconsidered, as the Union has expanded to 27 member states and has become more heterogeneous. The budget priorities must be re-oriented towards potentially productive...

Persistent link: https://www.econbiz.de/10012776902

Fiscal Transfers and Fiscal Sustainability

Potrafke, Niklas - 2014

transfers. Using panel data techniques we investigate whether the debt-to-GDP ratio had a positive influence on the primary …

Persistent link: https://www.econbiz.de/10013055378

Fiscal Autonomy and Fiscal Sustainability : Subnational Taxation and Public Indebtedness in Contemporary Spain

Larin, Benjamin; Suessmuth, Bernd - 2021

grant tax credits. This structure allows us to apply panel unit root and stationarity tests to sub-samples of autonomies to …

Persistent link: https://www.econbiz.de/10013315619

The Swedish Fiscal Policy Council : Watchdog with a Broad Remit

Calmfors, Lars - 2012

The Swedish Fiscal Policy Council (FPC) set up in 2007 is one example of the recent international trend to create independent fiscal watchdogs. The FPC has established itself as an important participant in the Swedish economic policy discussion. The FPC has small resources and a broad remit...

Persistent link: https://www.econbiz.de/10013111364

Panel Cointegration Tests on the Fiscal Sustainability of German Laender

Burret, Heiko - 2014

by applying “second generation” panel cointegration techniques. A unique identification strategy for the selection of sub …‐panels improves the robustness of panel cointegration tests and reveals that Laender finances are hardly sustainable …

Persistent link: https://www.econbiz.de/10013047349

Using Real-Time Data to Test for Political Budget Cycles

Jong-A-Pin, Richard - 2012

We use real‐time annual data on the fiscal balance, government current spending, current revenues and net capital outlays as published at a half yearly frequency in the OECD Economic Outlook for 25 OECD countries. For each fiscal year t we have a number of forecasts, a first release, and...

Persistent link: https://www.econbiz.de/10013100272

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