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Fiscal sustainability and low interest rates : a note
Werding, Martin - 2021
In this paper, I demonstrate that an indicator which is commonly used to assess the long-term fiscal sustainability of public finances in EU member states (“S2”) is also defined if government borrowing rates are assumed to be permanently lower than the growth rate of GDP. I illustrate this...
Persistent link: https://www.econbiz.de/10012421177
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Public finances solvency in the Euro Area : true or false?
Afonso, António; Coelho, José Carlos - 2022
government expenditures is higher from 2010 onwards, and, for higher average public debt ratios, the response is lower, while …
Persistent link: https://www.econbiz.de/10013365375
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A snapshot of public finance research from immediately prior to the pandemic : IIPF 2020
Agrawal, David R.; Davies, Ronald B.; LaLumia, Sara; … - 2021
As the COVID-19 pandemic has shaped public policies and government finances, it has also influenced the topics that public finance economists are researching. Because the 2020 International Institute of Public Finance (IIPF) Congress featured papers that were submitted prior to the start of the...
Persistent link: https://www.econbiz.de/10012602343
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Understanding the emergence of public debt
Fochmann, Martin; Sadrieh, Abdolkarim; Weimann, Joachim - 2014
We use a controlled laboratory experiment with and without overlapping generations to study the emergence of public debt. Public debt is chosen by popular vote, pays for public goods, and is repaid with general taxes. With a single generation, public debt is accumulated prudently, never leading...
Persistent link: https://www.econbiz.de/10010358972
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Fiscal adjustments and business cycle synchronization
Agnello, Luca; Caporale, Guglielmo Maria; Sousa, Ricardo M. - 2013
Using a panel of annual data for 20 countries we show that synchronized fiscal consolidation (stimulus) programmes in different countries make their business cycles more closely linked, especially in the case of fiscal adjustments lasting 2 or 3 years. We also find: (i) little evidence of...
Persistent link: https://www.econbiz.de/10010212384
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The effects of fiscal institutions on public finance : a survey of the empirical evidence
Kirchgässner, Gebhard - 2001
) Constitutional or statutory fiscal limitations have in most cases proved to be effective in cutting down public expenditure, revenue …
Persistent link: https://www.econbiz.de/10011408436
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Does government spending efficiency improve fiscal sustainability?
Afonso, António; Alves, José - 2022
revenues, which also improves fiscal sustainability. Specifically, rationalising public expenditures without jeopardising the …
Persistent link: https://www.econbiz.de/10013187684
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The macroeconomic effects of funding U.S. infrastructure
Malley, James R.; Philippopulos, Apostolēs - 2022
This paper quantitatively assesses the macroeconomic effects of the recently agreed U.S. bipartisan infrastructure … types of infrastructure spending and linkages between the final and intermediate goods sectors. We find that infrastructure … multipliers above unity if infrastructure spending and rising public debt are financed by consumption, dividend and labour income …
Persistent link: https://www.econbiz.de/10012801569
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Does the Swiss debt brake induce sound federal finances? : a synthetic control analysis
Pfeil, Christian F.; Feld, Lars P. - 2016
The Swiss debt brake is widely appreciated as one of the most rationally designed fiscal rules in the world and was thus also discussed as blueprint in the debates about fiscal rules in Germany, the European Union member states and Israel. However, evidence that this rule really contributes to...
Persistent link: https://www.econbiz.de/10011521945
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Consolidating the Covid debt
Keuschnigg, Christian; Johs, Julian; Stevens, Jacob - 2021
growth enhancing tax and expenditure reform. We quantitatively illustrate that this reform based strategy, by …
Persistent link: https://www.econbiz.de/10012796971