Showing 1 - 10 of 122
This paper first reviews the conceptual case for, and appropriate design of, fiscal policies to address major externalities associated with energy use-global warming, local air pollution, and various side effects (e.g., congestion) from motor vehicles. Techniques for (roughly) estimating the...
Persistent link: https://www.econbiz.de/10010465151
This paper empirically links the efficiency and performance assessment of the general government, proxied by efficiency … scores, to the trust in government. Government spending efficiency scores are first computed via data envelopment analysis … (DEA). Then, relying on panel data and instrumental variable approaches, we estimate the effect of public sector efficiency …
Persistent link: https://www.econbiz.de/10013445458
We assess the consequences of fiscal consolidation episodes on public sector efficiency (scores) for 35 OECD countries … for the 2007-2020 period. We find that fiscal consolidations improve public sector efficiency and results are robust … across efficiency models. Moreover, peripheral euro-area economies and economies with debt-to-GDP ratios between 60% and 90 …
Persistent link: https://www.econbiz.de/10013202419
We evaluate the impact of government spending efficiency on fiscal sustainability for a panel of 35 OECD countries … revenues to changes in government spending. Next, we make use of so-called government spending efficiency scores, which … the input efficiency scores obtained, countries' fiscal balance and fiscal sustainability is directly improved by the use …
Persistent link: https://www.econbiz.de/10013187684
The paper builds a simplified model describing the economy of a currency union with decentralised national fiscal policy, where the main features characterising the policy-making are similar to those in EMU. National governments choose the size of deficit taking into account the two main rules...
Persistent link: https://www.econbiz.de/10002522745
concerned). This would not only enhance the efficiency of the Pact, but also render it easier to enforce. …
Persistent link: https://www.econbiz.de/10002576733
This paper characterises rules-based fiscal policy setting. Basically, we translate a standard monetary policy rule into a simple fiscal policy rule. We then infer on fiscal policymakers' reaction coefficients by testing the rule with GMM. Interaction is also tested directly by the inclusion of...
Persistent link: https://www.econbiz.de/10002578199
In this paper, we set out to examine an efficient fiscal-policy framework for a monetary union. We illustrate that fiscal policy’s bias toward budget deficit only temporarily ceased at the end of the 20th century as European countries endeavored to qualify for euro-zone membership, which...
Persistent link: https://www.econbiz.de/10003112610
Since most macroeconomic data are revised after the initial release both researchers andpolicy-makers have no choice rather than recognising and understanding the revisions. Thispaper analyses revisions to the fiscal data in the euro area, also by contrasting them with the’better-understood’...
Persistent link: https://www.econbiz.de/10014081347
This paper proposes a central fiscal capacity for the euro area that generates transfers in response to eurozone, country, and region-specific shocks. The main novelty of this fiscal capacity is that it allows a joint response to these three types of shocks within a single scheme. Based on NUTS3...
Persistent link: https://www.econbiz.de/10014082970