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Economic, Political and Institutional Determinants of Budget Deficits in the European Union

Bayar, Ali H. - 2009

Using an extended data set of EU countries ranging from 1971-2006 and relevant econometric methods, we investigate the economic, political, and institutional determinants of government deficits in the EU. The results show a strong opportunistic behaviour of policymakers which leads to political...

Persistent link: https://www.econbiz.de/10012763989

Economic and Political Determinants of Budget Deficits in the European Union : A Dynamic Random Coefficient Approach

Bayar, Ali H. - 2009

This paper formulates a dynamic Random Coefficient Model (RCM) to consider a set of popular determinants of public deficits in the EU-15 over the period 1971-2006, both at a country-specific level and from a population-wide perspective. Although the extent of government deficits and debt has...

Persistent link: https://www.econbiz.de/10012764965

Sustainability of Austrian Public Debt : A Political Economy Perspective

Haber, Gottfried; Neck, Reinhard - 2021

Sustainablity of Austrian public debt is investigated in the context of political objectives such as stabilizing the business cycle, increasing chances for being re-elected and implementing the ideologies of political parties. Several tests indicate that Austrian fiscal policies were sustainable...

Persistent link: https://www.econbiz.de/10013317381

Regional Heterogeneity, the Rise of Public Debt and Monetary Policy in Post-Bubble Japan : Lessons for the EMU

Fischer, Raphael - 2016

Both Japan and parts of the European Monetary Union have experienced boom and bust in stock and real estate markets, which have been followed by a lasting crisis. The paper analyses the role of a high degree of regional heterogeneity for public debt and monetary policy in the context of crisis....

Persistent link: https://www.econbiz.de/10012988893

Did Austerity Cause Brexit?

Fetzer, Thiemo - 2018

Did austerity cause Brexit? This paper shows that the rise of popular support for the UK Independence Party (UKIP), as the single most important correlate of the subsequent Leave vote in the 2016 European Union (EU) referendum, along with broader measures of political dissatisfaction, are...

Persistent link: https://www.econbiz.de/10012910997

Debt Sustainability and Financial Crises : Evidence from the GIIPS

Legrenzi, Gabriella Deborah - 2014

We assess the sustainability of the public finances of Greece, Ireland, Italy, Portugal and Spain (GIIPS), allowing for possible non-linearities in the form of threshold behavior of the fiscal authorities. We provide some evidence of fiscal sustainability when debt gets 'too high' relative to a...

Persistent link: https://www.econbiz.de/10013067329

Successful Fiscal Adjustments - Does Choice of Fiscal Instrument Matter?

Holden, Steinar; Midthjell, Nina - 2021

We examine fiscal adjustment episodes in 24 OECD countries in order to find how austerity affects debt and growth, and whether the choice of fiscal instrument matters for the results. Influential existing studies argue that spending cuts are more likely to successfully reduce debt and enhance...

Persistent link: https://www.econbiz.de/10013315701

Oil and Vinegar : A Positive Fiscal Theory of the Euro Crisis

Blankart, Charles B. - 2013

The theory of optimal currency areas states that a currency union may succeed if the participating countries have complementary industry structures. If this is not the case a currency union does not, inevitably, have to fail because market forces will induce adjustments of the industry...

Persistent link: https://www.econbiz.de/10013074396

Sustainability of German Fiscal Policy and Public Debt : Historical and Time Series Evidence for the Period 1850-2010

Burret, Heiko - 2013

default. Due to a multitude of large scale events in its past, Germany is far from being an exception: In fact, Germany … Germany's public finances against the standard theoretical back‐ground using a unique database, retrieved from multiple …, contradicting the historical perception of Germany as the poster child of European public finance. Given these corresponding breaks …

Persistent link: https://www.econbiz.de/10013085753

Institutionalized Bailouts and Fiscal Policy : The Consequences of Soft Budget Constraints

Fink, Alexander - 2010

Germany, states' political influence is exogenous because voting weights differ in the upper chamber of the German parliament …

Persistent link: https://www.econbiz.de/10013150672

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