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Ideologically-charged terminology : austerity, fiscal consolidation, and sustainable governance

Gründler, Klaus; Potrafke, Niklas - 2019

Scholars have been active in investigating causes and consequences of austerity policies. We examine how economists use the term "austerity" in scientific studies and measure austerity in empirical analyses. The sample includes around 3,500 journal articles published in the top 400 journals...

Persistent link: https://www.econbiz.de/10011997341

The bail-out! : positive political economics of greek-type crises in the EMU

Fahrholz, Christian; Wójcik, Cezary - 2010

analysis suggests that, given EMU's present political-economic set-up, i) the bail-out was unavoidable, ii) the lengthy process … with a future moral hazard problem. Based on our analysis, we suggest that the EMU's institutional design could be improved … processes as well as the conditions and parameters on which the scope and limits of fiscal redistribution in EMU depends. In …

Persistent link: https://www.econbiz.de/10008697133

The Eurozone needs exit rules

Fahrholz, Christian; Wójcik, Cezary - 2012

This paper argues that the key issue for defining and solving the Eurozone's (EZ) difficulties lies in readjusting the relationship between the centre and the periphery of the EZ. Our argument proceeds in two steps. Firstly, the basic finance problem of a centre-periphery system is captured by a...

Persistent link: https://www.econbiz.de/10009570716

Experts and epidemics

Gründler, Klaus; Potrafke, Niklas - 2020

Do experts adjust their policy recommendations when the facts change? We conduct a large-scale randomized experiment among 1,224 economic experts across 109 countries that includes two treatments. The first treatment is the geographic and temporal variation in the initial spread of Covid-19...

Persistent link: https://www.econbiz.de/10012287982

Structural reforms and income inequality : who benefits from market-oriented reforms?

Gründler, Klaus; Potrafke, Niklas; Wochner, Timo - 2020

We examine how structural reforms relate to income inequality. We employ many indicators of structural reforms and use data for market and net income inequality. The dataset includes up to 135 countries since 1960. The results do not suggest that market-oriented structural reforms were...

Persistent link: https://www.econbiz.de/10012154916

Catching up : the role of demand, supply and regulated price effects on the real exchange rates of four accession countries

MacDonald, Ronald; Wójcik, Cezary - 2003

The main aim of this paper is to examine the exchange rate behavior of a group of four transitional, EU accession countries, with a view to making policy recommendations regarding their accession to full European Monetary Union. We employ a dynamic OLS panel estimator to investigate the relative...

Persistent link: https://www.econbiz.de/10011506491

Fiscal sustainability in the EU after the global crisis : is there any progress?

Wysocki, Maciej; Wójcik, Cezary - 2018

In response to the global crisis a number of new institutional measures have been introduced in the fiscal framework, both on the UE and on the member states’ level, and the question is: have these measures provided better fiscal sustainability outcomes? We approach this question by looking at...

Persistent link: https://www.econbiz.de/10011900847

Fiscal rules : historical, modern, and sub-national growth effects

Gründler, Klaus; Potrafke, Niklas - 2020

We examine how fiscal rules influence economic growth. The results show that constitutional fiscal rules promoted growth from the Industrial Revolution until World War II (1789-1950) and also increased modern economic growth (1985-2015). To address selection on unobservables, we conduct a...

Persistent link: https://www.econbiz.de/10012219378

Populists and fiscal policy : the case of Poland

Wysocki, Maciej; Wójcik, Cezary; Freytag, Andreas - 2022

The past decade has witnessed an increase in populist movements across the world. Some of those movements have gained strong political support and formed populist governments promising new sets of economic and fiscal policies. This raises the pertinent policy question: how do such populist...

Persistent link: https://www.econbiz.de/10013472411