Showing 1 - 8 of 8
-capita output convergence across a large sample of European regions during the period 1995-2005. We find that net fiscal transfers …
Persistent link: https://www.econbiz.de/10012764767
Against the background of the euro area sovereign debt crisis, our paper investigates the relationship between public debt and economic growth and adds to the existing literature in the following ways. First, we extend the threshold panel methodology by Hansen (1999) to a dynamic setting in...
Persistent link: https://www.econbiz.de/10013104431
The paper reviews the economic risks associated with regimes of high public debt through DSGE model simulations. The large public debt build-up following the 2009 global financial and economic crisis acted as a shock absorber for output, while in the recent and more severe COVID19-crisis, an...
Persistent link: https://www.econbiz.de/10012827422
Persistent link: https://www.econbiz.de/10013315044
This paper investigates the average impact of government debt on per-capita GDP growth in twelve euro area countries over a period of about 40 years starting in 1970. It finds a non-linear impact of debt on growth with a turning point — beyond which the government debt-to-GDP ratio has a...
Persistent link: https://www.econbiz.de/10013316176
This paper uses a dynamic panel approach to explain the determinants of widening sovereign bond yield spreads vis-à-vis Germany in selected euro area countries during the period end-July 2007 to end-March 2009, when the financial turmoil developed into a full-blown financial and economic...
Persistent link: https://www.econbiz.de/10013316284
We study the relationship between fiscal policy and household saving across the euro area countries for the period 1999-2019. To this extent, we propose a thick modelling approach, which allows a vast number of model specifications in a dynamic panel setting. We find that fiscal expansions are...
Persistent link: https://www.econbiz.de/10013310202
This paper provides a comprehensive empirical analysis of the role of discretionary fiscal policy for inflation differentials across the 19 euro area countries over the period 1999-2019. The results confirm existing (older) literature that it is difficult to find robust evidence of the fiscal...
Persistent link: https://www.econbiz.de/10014257756