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that austerity measures have been approved by the legislature (congress or parliament), in periods of high sovereign … spreads such that countries with high spread levels stand to benefit the most from putting in place credible austerity …
Persistent link: https://www.econbiz.de/10012102084
We review Greek public sector healthcare policies and health-related outcomes since 2010.We find that excess spending … relatively favorable. However, especially prior to Covid-19, public healthcare spending had been compressed to potentially … advancing structural healthcare reforms are needed to improve the efficiency and equity of the Greek healthcare system …
Persistent link: https://www.econbiz.de/10012605603
This paper presents a model-based fiscal Taylor rule and a toolkit to assess the fiscal stance, defined as the change in the structural primary balance. This is built on the normative buffer-stock model of the government (Fournier, 2019) which includes key channels like hysteresis,...
Persistent link: https://www.econbiz.de/10012177607
The Greek pension system has been costly, complex, and distortive, which has contributed to Greece's fiscal problems …
Persistent link: https://www.econbiz.de/10012605604
In this paper we use a general equilibrium model with heterogeneous agents to assess the macroeconomic and welfare consequences in the United States of alternative fiscal policies over the medium-term. We find that failing to address the fiscal imbalances associated with current federal fiscal...
Persistent link: https://www.econbiz.de/10009488208
Persistent link: https://www.econbiz.de/10009726375
We examine how the cost of corporate credit varies around fiscal consolidations aimed at reducing government debt. Using a new dataset on fiscal consolidations and syndicated corporate loan data, we find that loan spreads increase with fiscal consolidations, especially for small firms, domestic...
Persistent link: https://www.econbiz.de/10009706780
Persistent link: https://www.econbiz.de/10009756793
Persistent link: https://www.econbiz.de/10009757320
Implementation of fiscal consolidation by advanced economies in coming years needs to take into account the short and long-run interactions between economic growth and fiscal policy. Many countries must reduce high public debt to GDP ratios that penalize longterm growth. However, fiscal...
Persistent link: https://www.econbiz.de/10009615787