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Convergence of fiscal policies in the euro area

De Bandt, Olivier; Mongelli, Francesco Paolo - 2000

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

The design of national fiscal frameworks and their budgetary impact

Nerlich, Carolin; Reuter, Wolf Heinrich - 2013

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

Fiscal rules, fiscal space and procyclical fiscal policy

Nerlich, Carolin; Reuter, Wolf Heinrich - 2015

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

Towards expenditure rules and fiscal sanity in the euro area

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

-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

Towards Expenditure Rules and Fiscal Sanity in the Euro Area

Hauptmeier, Sebastian - 2010

-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

Fiscal Rules, Fiscal Space and Procyclical Fiscal Policy

Nerlich, Carolin - 2019

Persistent link: https://www.econbiz.de/10012867815

The Design of National Fiscal Frameworks and Their Budgetary Impact

Nerlich, Carolin - 2013

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

Inflation and fiscal policy: Is there a threshold effect in the fiscal reaction function?

Briodeau, Clémence; Checherita-Westphal, Cristina - 2023

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

Fiscal reaction function and fiscal fatigue: Evidence for the euro area

Checherita-Westphal, Cristina; Žďárek, Václav - 2017

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

Post-COVID fiscal rules: A central bank perspective

Hauptmeier, Sebastian; Leiner-Killinger, Nadine; … - 2022

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