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Participation Constraints in Pension Systems

Beetsma, Roel; Romp, Ward - 2013

We explore voluntary participation in pension arrangements. Individuals only participate when participation is more attractive than autarky. The bene??it of participation is that risks can be shared with future generations. We apply our analysis to a pay-as-you-go system, a funded system without...

Persistent link: https://www.econbiz.de/10010326545

Monetary and fiscal policy interactions in a micro-founded model of a monetary union

Beetsma, Roel; Jensen, Henrik - 2002

So far, the 'new open economy macroeconomics' literature has primarly focused on monetary policy and monetary policy rules, rather than paying attention also to fiscal policy. This is an omission because, especially with the advent of EMU, the burden on fiscal policy as an instrument for...

Persistent link: https://www.econbiz.de/10011604212

What are the spill-overs from fiscal shocks in Europe? An empirical analysis

Giuliodori, Massimo; Beetsma, Roel - 2004

We use a Vector Auto Regression (VAR) analysis to explore the (spill-over) effects of fiscal policy shocks in Europe. To enhance comparability with the existing literature, we first analyse the effects of these shocks at the national level. Here, we employ identification based on Choleski...

Persistent link: https://www.econbiz.de/10011604371

Implementing the stability and growth pact: enforcement and procedural flexibility

Beetsma, Roel; Debrun, Xavier - 2005

, possibly destroying the case for flexibility. Also, improved budget monitoring and greater transparency increase the benefits …

Persistent link: https://www.econbiz.de/10011604479

The impact of news and the SMP on realized (co)variances in the eurozone sovereign debt market

Beetsma, Roel; de Jong, Frank; Giuliodori, Massimo; … - 2014

We use realised variances and co-variances based on intraday data from Eurozone sovereign bond market to measure the dependence structure of eurozone sovereign yields. Our analysis focuses on the impact of news, obtained from the Eurointelligence newsflash, on the dependence structure. More news...

Persistent link: https://www.econbiz.de/10011605674

Revenue- versus spending-based consolidation plans: The role of follow-up

Beetsma, Roel; Furtuna, Oana; Giuliodori, Massimo - 2018

The literature on fiscal multipliers finds that spending-based fiscal consolidations tend to have more benign macro-economic consequences than revenue-based consolidations. By directly comparing ex-post data with consolidation plans, we present evidence of a systematically weaker follow-up of...

Persistent link: https://www.econbiz.de/10011916882

One scheme fits all: A central fiscal capacity for the EMU targeting eurozone, national and regional shocks

Beetsma, Roel; Cimadomo, Jacopo; Van Spronsen, Josha - 2022

This paper proposes a central fiscal capacity for the euro area that generates transfers in response to euro area, country, and region-specific shocks. The main novelty of this fiscal capacity is that it allows a joint response to these three types of shocks within a single scheme. Based on...

Persistent link: https://www.econbiz.de/10013367997

The political economy of fiscal transparency and independent fiscal councils

Beetsma, Roel; Debrun, Xavier; Sloof, Randolph - 2017

The global surge in independent fiscal councils (IFCs) raises three related questions: How can IFCs improve the conduct of fiscal policy? Are they simultaneously desirable for voters and elected policymakers? And are they resilient to changes in political conditions? We build a model in which...

Persistent link: https://www.econbiz.de/10011804406

Why pay more? Corporate Tax Avoidance through Transfer Pricing in OECD Countries

Bartelsman, Eric J.; Beetsma, Roel - 2000

This paper presents suggestive evidence of income shifting in response to differences in corporate tax rates for a … large selection of OECD countries. We use a new method to disentangle the income shifting effects from the effects of tax … in the corporate tax rate is lost because of a decline in reported income. …

Persistent link: https://www.econbiz.de/10010324452