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Macroeconomic uncertainties, prudent debt targets and fiscal rules

Fall, Falilou; Fournier, Jean-Marc - 2015

The sharp rise in debt experienced by most OECD countries raises questions about the prudent debt level countries should target. It also raises questions about the fiscal frameworks needed to reach them and to accommodate cyclical fluctuations along the path towards a prudent debt target. The...

Persistent link: https://www.econbiz.de/10011399529

Residents' appreciation of cultural heritage in tourist centres : a micro-simulation modelling approach to Amsterdam

Leeuwen, Eveline S. van; Kourtit, Karima; Nijkamp, Peter - 2013

Persistent link: https://www.econbiz.de/10010191356

Government debt indicators : understanding the data

Bloch, Debra; Fall, Falilou - 2015

There is no single “best” indicator for analysing general government debt. This paper examines the various issues in defining and measuring debt, and explores other data which could be useful, both within and beyond the general government debt concept, to better track and analyse fiscal...

Persistent link: https://www.econbiz.de/10011399482

Limits to government debt sustainability

Fournier, Jean-Marc; Fall, Falilou - 2015

The recent euro area sovereign debt crisis has shown the importance of market reactions for the sustainability of debt. The objective of this paper is to calculate endogenous government debt limits given the markets assessment of the probability to default. The estimated primary balance reaction...

Persistent link: https://www.econbiz.de/10011399483

Fiscal constitutions : an empirical assessment

Blöchliger, Hansjörg; Kantorowicz, Jaroslaw - 2015

Fiscal constitutions comprise the set of rules and frameworks guiding fiscal policy that are enshrined in a country’s fundamental laws. This paper compares the fiscal constitutions of 15 federal countries by empirically assessing five building blocks: 1) the power of sub-national governments...

Persistent link: https://www.econbiz.de/10011399580

Russia : progress in structural reform and framework conditions 2011 - 13

Vaziakova, Yana - 2015

Since 1995 when OECD began conducting Economic Surveys of the Russian Federation many policy recommendations relating to structural reform and framework conditions have been made. This paper is an update of an earlier paper that described actions taken up to October 2011 (Vaziakova et al.,...

Persistent link: https://www.econbiz.de/10011399592

Improving public sector efficiency for more inclusive growth in Latvia

Klein, Caroline; Price, Robert W. - 2015

to achieve convergence of policy outcomes to OECD upper standards is challenging. Efficiency gains in the tax system … could bring additional revenues. The tax base should be expanded by reducing informality, strengthening tax administration … unemployment and income inequality, the tax-benefit system should also be revised as it is now relatively regressive and the tax …

Persistent link: https://www.econbiz.de/10011399630

Optimal government spending and unemployment

Linnemann, Ludger; Schabert, Andreas - 2008 - This version: February 29, 2008

We study optimal government spending in a business cycle model with frictional unemployment. The Ramsey optimal policy is contrasted with a reference policy which would be first best in a frictionless economy. Results are: the Ramsey policy i) implies a higher steady state ratio of government...

Persistent link: https://www.econbiz.de/10011374417

Default risk premia on government bonds in a quantitative macroeconomic model

Jüßen, Falko; Linnemann, Ludger; Schabert, Andreas - 2009

This paper examines the pricing of public debt in a quantitative macroeconomic model with government default risk. Default may occur due to a fiscal policy that does not preclude a Ponzi game. When a build-up of public debt makes this outcome inevitable, households stop lending such that the...

Persistent link: https://www.econbiz.de/10011379436

Transmission of government spending shocks in the Euro area : time variation and driving forces

Kirchner, Markus; Cimadomo, Jacopo; Hauptmeier, Sebastian - 2010

This paper provides new evidence on the effects of government spending shocks and the fiscal transmission mechanism in the euro area for the period 1980-2008. Our contribution is two-fold. First, we investigate changes in the macroeconomic impact of government spending shocks using time-varying...

Persistent link: https://www.econbiz.de/10011380027

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