Showing 1 - 10 of 172
This paper aims at determining whether economic, financial and monetary integration on the one hand, and institutional factors on the other, may have led to gradual convergence in key fiscal variables across the euro area over the recent period, bringing fiscal positions closer together. The...
Persistent link: https://www.econbiz.de/10011604066
This study analyses the link between fiscal frameworks and their budgetary impact. We look at different features of national numerical fiscal rules in combination with fiscal councils and medium-term budgeting frameworks. We construct our own time-varying dataset for national fiscal frameworks...
Persistent link: https://www.econbiz.de/10011605633
In this paper we analyse the interaction of fiscal rules and fiscal space. We find strong evidence for fiscal rules being associated with higher fiscal space. Furthermore, the analysis shows that countries with more fiscal space tend to have higher discretionary expenditures, but that this...
Persistent link: https://www.econbiz.de/10011605917
-based spending policies could have led to much safer fiscal positions much more in line with the EU’s Stability and Growth Pact rules. …
Persistent link: https://www.econbiz.de/10011605312
-based spending policies could have led to much safer fiscal positions much more in line with the EU's Stability and Growth Pact rules …
Persistent link: https://www.econbiz.de/10013136395
In this paper we analyse the interaction of fiscal rules and fiscal space. We find strong evidence for fiscal rules being associated with higher fiscal space. Furthermore, the analysis shows that countries with more fiscal space tend to have higher discretionary expenditures, but that this...
Persistent link: https://www.econbiz.de/10012867815
This study analyses the link between fiscal frameworks and their budgetary impact. We look at di fferent features of national numerical fiscal rules in combination with fiscal councils and medium-term budgeting frameworks. We construct our own time-varying dataset for national fiscal frameworks...
Persistent link: https://www.econbiz.de/10013076444
This paper estimates a fiscal reaction function (FRF) framework for euro area countries to test for the impact of changes in inflation on fiscal policy. We find evidence of non-linear short-term effects of HICP inflation on the primary balance after controlling for other relevant factors. Over...
Persistent link: https://www.econbiz.de/10014543680
This paper estimates a fiscal reaction function (FRF) framework for euro area countries and derives a novel approach to measure fiscal fatigue. As in previous studies, we find evidence that euro area sovereigns abide, on average, by (weak) sustainability constraints. The primary balance improves...
Persistent link: https://www.econbiz.de/10011667204
Regarding a prospective reform of the European Stability and Growth Pact (SGP) it seems rather consensual that a … growth rule as single operational indicator linked to a debt anchor. Compared to the status quo, our analysis suggests that … expenditure growth targets which take account of the ECB's symmetric 2% inflation target can improve the cyclical properties of …
Persistent link: https://www.econbiz.de/10013272147