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Government Size, Composition, Volatility and Economic Growth

Afonso, António; Furceri, Davide - 2021

This paper analyses the effects in terms of size and volatility of government revenue and spending on growth in OECD and EU countries. The results of the paper suggest that both variables are detrimental to growth. In particular, looking more closely at the effect of each component of government...

Persistent link: https://www.econbiz.de/10013316642

Brexit, What Brexit? Euro Area Portfolio Exposures to the United Kingdom Since the Brexit Referendum

Carvalho, Daniel; Schmitz, Martin - 2022

We study euro area investors' portfolio adjustment since the Brexit referendum in terms of securities issued in the UK … since the Brexit referendum. The analysis also reveals an increase in the euro area's exposure to listed shares issued by UK … referendum, which appear to have largely outweighed the uncertainties associated with Brexit …

Persistent link: https://www.econbiz.de/10014239454

The dynamic behaviour of budget components and output

Afonso, António; Claeys, Peter - 2007

The main focus of this paper is the relation between the cyclical components of total revenues and expenditures and the budget balance in France, Germany, Portugal, and Spain. We try to uncover past trends behind the development of public finances that contribute to explaining the current stance...

Persistent link: https://www.econbiz.de/10011604821

Towards expenditure rules and fiscal sanity in the euro area

Hauptmeier, Sebastian; Sanchez Fuentes, Jesus; … - 2010

The study looks at primary expenditure developments in the euro area, its three largest members and four “macro-imbalances” countries for the period 1999-2009. It compares actual expenditure trends with those that would have prevailed if countries had followed neutral policies based on...

Persistent link: https://www.econbiz.de/10011605312

Keynesian Government Spending Multipliers and Spillovers in the Euro Area

Cwik, Tobias J. - 2010

The global financial crisis has lead to a renewed interest in discretionary fiscal stimulus. Advocates of discretionary measures emphasize that government spending can stimulate additional private spending — the Keynesian multiplier effect. Thus, we investigate whether the spending package...

Persistent link: https://www.econbiz.de/10013136289

Towards Expenditure Rules and Fiscal Sanity in the Euro Area

Hauptmeier, Sebastian - 2010

Persistent link: https://www.econbiz.de/10013136395

The Dynamic Behaviour of Budget Components and Output

Claeys, Peter - 2007

Persistent link: https://www.econbiz.de/10012776609

Governments' Payment Discipline : The Macroeconomic Impact of Public Payment Delays and Arrears

Checherita-Westphal, Cristina D. - 2015

This paper considers the impact of changes in governments' payment discipline on the private sector. We argue that increased delays in public payments can affect private sector liquidity and profits and hence ultimately economic growth. We test this prediction empirically for European Union...

Persistent link: https://www.econbiz.de/10013025488

The Impact of Numerical Expenditure Rules on Budgetary Discipline Over the Cycle

Holm-Hadulla, Federic - 2010

We study the impact of numerical expenditure rules on the propensity of governments to deviate from expenditure targets in response to surprises in cyclical conditions. Theoretical considerations suggest that due to political fragmentation in the budgetary process expenditure policy might be...

Persistent link: https://www.econbiz.de/10013146218

Revenue versus Spending-Based Consolidation Plans : The Role of Follow-Up

Beetsma, Roel M. W. J.; Furtuna, Oana; Giuliodori, Massimo - 2021

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 expost data with consolidation plans, we present evidence of a systematically weaker follow-up of...

Persistent link: https://www.econbiz.de/10013315403