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Cuadra, Gabriel; Ramos-Francia, Manuel - 2014

There is an ongoing debate about austerity and stimulus in the Euro zone. Moreover, given the fiscal and financial problems in the region, a default has appeared likely at times. In this context, this paper develops a dynamic stochastic quantitative model of sovereign default with fiscal policy,...

Persistent link: https://www.econbiz.de/10010370901

The impact of austerity policies on local income : evidence from Italian municipalities

Cerrato, Andrea; Filippucci, Francesco - 2022

Persistent link: https://www.econbiz.de/10013207012

A quantitative evaluation of the European commiccion's fiscal governance proposal

Darvas, Zsolt M.; Welslau, Lennard; Zettelmeyer, Jeromin - 2023

debt above 60 percent or deficits above 3 percent of GDP. We find that the proposed framework would require ambitious … fiscal adjustment: on average, more than 2 percent of GDP over the medium term, in addition to the adjustment that is already … framework. We also find that for most countries with debt above 60 percent of GDP, these adjustment requirements are driven by …

Persistent link: https://www.econbiz.de/10014372855

A comprehensive approach to the euro-area debt crisis : background calculations

Darvas, Zsolt M.; Gouardo, Christophe; Pisani-Ferry, Jean; … - 2011

Persistent link: https://www.econbiz.de/10008907698

The impact of the crisis on budget policy in Central and Eastern Europe

Darvas, Zsolt M. - 2009

This paper describes the particular impacts of the financial and economic crisis on central and eastern European (CEE) countries, studies pro-cyclicality of fiscal policies, discusses the impact of the crisis on fiscal policy, and the policy response of various governments. After drawing some...

Persistent link: https://www.econbiz.de/10003874233