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Bacchiocchi, Emanuele (contributor); … - 2005

This paper presents a simple model in which debt management stabilizes the debt-to-GDP ratio in face of shocks to real returns and output growth and thus supports fiscal restraint in ensuring sustainability. The optimal composition of public debt is derived by looking at the relative impact of...

Persistent link: https://www.econbiz.de/10002576712

The distributional implications of pension benefit indexation

Andersen, Torben M.; Jørgensen, Cecilie Marie Løchte - 2024

indexation scheme involves a choice between a low initial benefit with an increasing profile and a high initial benefit with a … indexation affects the trade-off between insurance and distribution when groups with different mortality are separated or pooled …

Persistent link: https://www.econbiz.de/10014470411

Does the indexing of government transfers make carbon pricing progressive?

Fullerton, Don; Heutel, Garth; Metcalf, Gilbert E. - 2011

We analyze both the uses side and the sources side incidence of domestic climate policy using an analytical general equilibrium model, taking into account the degree of government program indexing. When transfer programs such as Social Security are explicitly indexed to inflation, higher energy...

Persistent link: https://www.econbiz.de/10009009227

Trade unions and the burden of the public debt

Steigum, Erling - 2001

This paper looks at intergenerational welfare effects of increased public debt when union power in pay bargaining generates structural unemployment. Debt policy works through capital accumulation as well as the price of a fixed asset that is owned by the old generation. Under a reasonable...

Persistent link: https://www.econbiz.de/10011400853

Old-age provision in transition : the case of Croatia

Werding, Martin; Primorac, Marko - 2016

The Croatian system of old-age provision comprises a traditional public pay-as-you-go scheme and a mandatory funded scheme ("second pillar") that will provide increasing amounts of supplementary pensions to those entering retirement in the future. Due to the continuing economic crisis, the...

Persistent link: https://www.econbiz.de/10011429587

Intergenerational risk-sharing through funded pensions and public debt

Chen, Damiaan H. J.; Beetsma, Roel; Ponds, Eduard; … - 2014

. Shocks are smoothed via the public debt and variations in the indexation of pension entitlements and the pension contribution … funded scheme in which both contributions and entitlement indexation are deployed as stabilisation instruments. We find trade …-offs between the optimal use of these instruments. We also find that entitlement indexation and the response of the tax rate to …

Persistent link: https://www.econbiz.de/10010238325

Fiscal transfers and fiscal sustainability

Potrafke, Niklas; Reischmann, Markus - 2014

We examine whether US and German state governments pursue sustainable fiscal policies taking into account fiscal transfers. Using panel data techniques we investigate whether the debt-to-GDP ratio had a positive influence on the primary surplus (Bohn-model). We show that including/excluding...

Persistent link: https://www.econbiz.de/10010260027

Fiscal autonomy and fiscal sustainability : subnational taxation and public indebtedness in contemporary Spain

Larin, Benjamin; Süssmuth, Bernd - 2014

This study assesses fiscal sustainability in contemporary Spain at the regional level. Spain consists of 17 autonomous regions, two fiscal regimes differing in taxing autonomy, and two path-dependent types of communities with more and less legislatively recognized autonomy. Three of the 17...

Persistent link: https://www.econbiz.de/10010337588

Political competition and the limits of political compromise

Cunha, Alexandre B.; Ornelas, Emanuel - 2014

We consider an economy where competing political parties alternate in office. Due to rent-seeking motives, incumbents have an incentive to set public expenditures above the socially optimum level. Parties cannot commit to future policies, but they can forge a political compromise where each...

Persistent link: https://www.econbiz.de/10010340378

The political economy of municipal amalgamation : evidence of common pool effects and local public debt

Fritz, Benedikt; Feld, Lars P. - 2015

This paper investigates the political economy of after merger effects of the large scale municipal amalgamations in the German state of Baden-Württemberg in the early 1970s. By exploiting the huge variance in the amalgamation process in terms of number of participating municipalities,...

Persistent link: https://www.econbiz.de/10011406787

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