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To consolidate or not to consolidate? : a multi-step analysis to assess needed fiscal sustainability
Afonso, António; Alves, José; Jalles, João Tovar - 2022
specifically on their degree of success, notably in terms of fiscal sustainability. The "need" to consolidate is based on having a … primary balance above or below the debt-stabilizing primary balance (provided by the IMF's Debt Sustainability Analysis) for … each country. We then link the need for and the actual (historical) existence of fiscal adjustments to their sustainability …
Persistent link: https://www.econbiz.de/10012938962
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Green national accounting for welfare and sustainability : a taxonomy of assumptions and results
Asheim, Geir B. - 2002
This paper summarizes assumptions made and results obtained in parts of the literature on welfare and sustainability … combinations. This taxonomy is used to organize results in welfare and sustainability accounting. The analysis illustrates how …
Persistent link: https://www.econbiz.de/10011514087
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The circular economy
Fullerton, Don - 2024
Research about the circular economy is dominated by engineers, architects, and social scientists in fields other than economics. The concepts they study can be useful in economic models of policies – to reduce virgin materials extraction, to encourage green design, and to make better use of...
Persistent link: https://www.econbiz.de/10014529224
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Aging, social security design, and capital accumulation
Dedry, Antoine; Onder, Harun; Pestieau, Pierre - 2016
This paper analyzes the impact of demographic aging on capital accumulation and welfare in economies with unfunded pensions. Using a two-period overlapping generation model with potentially endogenous retirement decisions, it shows that both the type of aging, i.e. declining fertility or...
Persistent link: https://www.econbiz.de/10011499785
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Aging, social security design, and capital accumulation
Dedry, Antoine; Onder, Harun; Pestieau, Pierre - 2015
This paper analyzes the impact of aging on capital accumulation and welfare in a country with a sizable unfunded social security system. Using a two-period overlapping generation model with potentially endogenous retirement decisions, the paper shows that the type of aging, i.e. declining...
Persistent link: https://www.econbiz.de/10011392492
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Sustainable climate treaties
Gersbach, Hans; Hummel, Noemi; Winkler, Ralph - 2017
We examine long-run treaties for mitigating climate change. Countries pay an initial fee into a global fund that is invested in long-run assets. In each period, part of the fund is distributed among the participating countries in relation to the emission reductions they have achieved in this...
Persistent link: https://www.econbiz.de/10011619513
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Modeling fiscal sustainability in dynamic macro-panels with heterogeneous effects : evidence from German federal states
Feld, Lars P.; Köhler, Ekkehard A.; Wolfinger, Julia - 2018
In this paper, we extend Henning Bohn's (2008) fiscal sustainability test by allowing for slope heterogeneity and cross … sustainability criteria. According to our results, politicians have significantly reacted to increasing debt levels by increasing …
Persistent link: https://www.econbiz.de/10011822075
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Population aging, social security and fiscal limits
Heer, Burkhard; Polito, Vito; Wickens, Michael R. - 2018
We study the sustainability of pension systems using a life-cycle model with distortionary taxation that sets an upper … welfare of a number of policies often advocated to improve the sustainability of pension systems. New tax data on dynamic …
Persistent link: https://www.econbiz.de/10011864671
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Fiscal sustainability in the EU after the global crisis : is there any progress?
Wysocki, Maciej; Wójcik, Cezary - 2018
sustainability outcomes? We approach this question by looking at the evolution of fiscal sustainability in Poland, which is an … fiscal sustainability in Poland has significantly improved in the post-crisis period of 2009-2017: we detect both improvement … of the fiscal sustainability parameters and structural breaks in the fiscal outcomes after the crisis. Namely, in …
Persistent link: https://www.econbiz.de/10011900847
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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