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Improving the Fiscal Framework to Enhance Growth in an Era of Fiscal Consolidation in Slovakia

Klein, Caroline; Price, Robert W.R.; Wörgötter, Andreas - Economics Department, Organisation de Coopération et … - 2013

The challenge for fiscal policy in Slovakia is to achieve fiscal consolidation in a way which supports the fragile recovery and protects spending on areas which are important for re-embarking on a trajectory of high trend growth and underpinning a catch-up in living standards. While the recently...

Persistent link: https://www.econbiz.de/10011277021

Estonia: Making the Most of Globalisation

Price, Robert W.R.; Wörgötter, Andreas - Economics Department, Organisation de Coopération et … - 2011

convergence. From the Russian crisis in 1998 to the great recession in 2009 Estonia gained an impressive 20% in GDP per capita … relative to the EU27 average in PPPs. Like the other Baltic economies, however, a considerable part of earlier convergence … less affected by the crisis and have been able to maintain most of their convergence gains. Moreover, prior to the …

Persistent link: https://www.econbiz.de/10009146865

New Tax and Expenditure Elasticity Estimates for EU Budget Surveillance

Price, Robert W.R.; Dang, Thai-Thanh; Guillemette, Yvan - Economics Department, Organisation de Coopération et … - 2014

This paper estimates the elasticities of government revenue and expenditure items with respect to the output gap for European Union (EU) countries. These elasticities are used by the European Commission, as part of the EU fiscal surveillance process, to calculate the semi-elasticity of the...

Persistent link: https://www.econbiz.de/10011276822

Adjusting Fiscal Balances for Asset Price Cycles

Price, Robert W.R.; Dang, Thai-Thanh - Economics Department, Organisation de Coopération et … - 2011

This paper develops a method for adjusting structural budget balances for asset price cycles and presents estimates of structural budget balances corrected for house-price and equity-price cycles for OECD countries. The traditional cyclically adjusted budget balance indicator, which is the basis...

Persistent link: https://www.econbiz.de/10009643458

Austria: Public Sector Inefficiencies Have Become Less Affordable

Fischer, Karin; Gönenç, Rauf; Price, Robert W.R. - Economics Department, Organisation de Coopération et … - 2011

Performance of fiscal policy, while good in international comparison, is not sufficient to prepare for future ageing-related spending increases. Subject to macroeconomic developments, the pace of consolidation could be more ambitious than currently planned, with a view to reducing the debt...

Persistent link: https://www.econbiz.de/10009358637

Enhancing the Effectiveness of Public Spending: Experience in OECD Countries

Joumard, Isabelle; Kongsrud, Per Mathis; Nam, Young-Sook; … - Economics Department, Organisation de Coopération et … - 2004

In most OECD countries, public spending rose steadily as a share of GDP over the past decades to the mid-1990s, but this trend has since abated. The spending pressures stemming from the continued expansion of social programmes have been partly compensated by transient or one-off factors....

Persistent link: https://www.econbiz.de/10005045600

Strategies for Countries with Favourable Fiscal Positions

Price, Robert W.R.; Joumard, Isabelle; André, Christophe; … - Economics Department, Organisation de Coopération et … - 2008

The financial crisis and economic downturn are going to weigh on fiscal positions in OECD countries over the short to medium-term, both through the operation of automatic stabilisers and the enactment of discretionary fiscal stimulus packages. However, the strategic policy options facing OECD...

Persistent link: https://www.econbiz.de/10005045983

Accounting for One-off Operations when Assessing Underlying Fiscal Positions

Joumard, Isabelle; Minegishi, Makoto; André, Christophe; … - Economics Department, Organisation de Coopération et … - 2008

Frequent recourse to large one-off operations in a number of OECD countries has undermined the accuracy of cyclically adjusted fiscal balances as a measure of both the sustainability of public finance and the fiscal stance. This paper first provides detailed information on the nature and amount...

Persistent link: https://www.econbiz.de/10005046160

The Political Economy of Fiscal Consolidation

Price, Robert W.R. - Economics Department, Organisation de Coopération et … - 2010

This paper explores the political economy of fiscal adjustment. It begins with an examination of the evidence for, and sources of, ‘deficit bias’, including political and governance factors, public attitudes, the role of financial markets and imprecision about which debt targets should be...

Persistent link: https://www.econbiz.de/10008587587