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Government Deficit Shocks and Okun's Coefficient Volatility : New Insights on the Austerity Versus Growth Debate

Pham, Binh Thai - 2019

This paper connects two salient economic features: (i) Fiscal shocks have asymmetric effects across business cycle phases (Gechert et al., 2019); (ii) Okun's coefficient is time varying and may be unstable. The intertwined dynamic behavior of fiscal shocks and unemployment-output trade-offs are...

Persistent link: https://www.econbiz.de/10012864881

A Challenge for the G20 : Globally Stipulated Debt Brakes and Transnational Independent Fiscal Supervisory Councils

Dolls, Mathias - 2014

Debt-to-GDP ratios have grown to unprecedented levels in many industrialized economies. This requires disciplined consolidation efforts which are, however, supposed to come now at the wrong time with the economic recovery being fragile. Against this background, we call for a global debt brake...

Persistent link: https://www.econbiz.de/10013067052

Fiscal Policy, Sovereign Default, and Bailouts

Juessen, Falko - 2013

This paper examines fiscal policy without commitment and the effects of conditional bailout loans. The government relies on distortionary taxation and decides between full debt repayment and costly default. It tends to overborrow due to myopia, which induces default to be a relevant policy...

Persistent link: https://www.econbiz.de/10013071428

Policy Responses to Fiscal Restraints : A Difference-in-Discontinuities Design

Grembi, Veronica - 2012

We evaluate the effect of relaxing fiscal rules on policy outcomes applying a quasi-experimental research design. In 1999, the Italian central government introduced fiscal rules aimed at imposing fiscal discipline on municipal governments, and in 2001 the rules were relaxed for municipalities...

Persistent link: https://www.econbiz.de/10013098807

Fiscal Union in Europe? Redistributive and Stabilising Effects of an EU Tax-Benefit System

Bargain, Olivier - 2012

The current debt crisis has given rise to a debate about deeper fiscal integration in Europe. The view is widespread that moving towards a 'fiscal union' would have a stabilising effect in the event of macroeconomic shocks. In this paper we study the economic effects of introducing two elements...

Persistent link: https://www.econbiz.de/10013105006

Überschuldete Bundesländer: Ist die Einführung eindeutiger Verschuldungsgrenzen sinnvoll?

Rüttgers, Jürgen; Milbradt, Georg; Seitz, Helmut; … - In: ifo Schnelldienst 60 (2007) 02, pp. 3-19

Eine zunehmende Zahl von Bundesländern legte in den letzten Jahren verfassungswidrige Haushalte vor, drei Länder klagten gleichzeitig beim Bundesverfassungsgericht Solidargemeinschaftshilfe bei der Bewältigung der Haushaltskrisen ein. Kann die Festlegung von eindeutigen Verschuldungsgrenzen...

Persistent link: https://www.econbiz.de/10011692600

Code of Good Practices on Fiscal Transparency

Koch-Weser, Caio K.; Hornung, Dietmar; Tomann, Horst - In: ifo Schnelldienst 57 (2004) 18, pp. 3-10

durch den Verhaltenskodex geforderte Transparenz in der Geld- und Finanzpolitik ist für Caio K. Koch … Deutschland stehe die Notwendigkeit fiskalischer Transparenz im Rahmen der Europäischen Wirtschafts- und Währungsunion … Haushaltsdefizit sowie einem niedrigeren Stand an öffentlichen Schulden einher. Fazit: Der Code of Good Practices on Fiscal …

Persistent link: https://www.econbiz.de/10011692211

Fiscal Sustainability and Demographic Change : A Micro Approach for 27 EU Countries

Dolls, Mathias - 2016

The effect of demographic change on the labor force and on fiscal revenues is topical in light of potential pension shortfalls. This paper evaluates the effect of demographic changes between 2010 and 2030 on labor force participation and government budgets in the EU-27. Our analysis involves the...

Persistent link: https://www.econbiz.de/10013001855

Explodierende Staatsschulden, drohende Staatsbankrotte: Was kommt auf uns zu?

Blankart, Charles B.; Fasten, Erik R.; Kämmerer, Jörn Axel - In: ifo Schnelldienst 63 (2010) 04, pp. 3-23

Seit Ausbruch der Finanz- und Wirtschaftskrise ist weltweit ein enormer Anstieg staatlicher Defizite und Schuldenstände zu beobachten. Was bedeutet die Entwicklung für die Europäische Währungsunion? Charles B. Blankart und Erik R. Fasten, Humboldt-Universität zu Berlin, finden es...

Persistent link: https://www.econbiz.de/10011693008

Did Tuition Fees in Germany Constrain Students' Budgets? New Evidence from a Natural Experiment

Thomsen, Stephan L. - 2014

Less than a decade ago, several German states introduced tuition fees for university education. Despite their comparatively low level, fees were perceived by the public to increase social injustice, and have been abolished. Whereas other studies have shown no effect on enrollment, we analyze the...

Persistent link: https://www.econbiz.de/10013043694

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