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Public Debt Dynamics and Debt Feedback
Reda, Cherif; Fuad, Hasanov - Volkswirtschaftliche Fakultät, … - 2010
We study the dynamics of U.S. public debt in a parsimonious VAR. We find that including debt feedback ensures the stationarity of debt while standard VARs excluding debt may imply an explosive debt path. We also find that the response of debt to inflation or interest shocks is not robust and...
Persistent link: https://www.econbiz.de/10008788797
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Fiscal Imbalances and Current Account Adjustments in the European Transition Economies
Mirdala, Rajmund - Volkswirtschaftliche Fakultät, … - 2013
account deficits during the most of the pre-crisis period. Despite generally improved economic environment and high rates of … the most of the pre-crisis period. Crises period affected both fiscal stance of government budgets and current account pre-crisis …
Persistent link: https://www.econbiz.de/10011109066
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Lessons Learned from Tax versus Expenditure Based Fiscal Consolidation in the European Transition Economies
Mirdala, Rajmund - Volkswirtschaftliche Fakultät, … - 2013
European Union member countries are currently exposed to negative implications of the economic and debt crisis … economic crisis, the call for fiscal consolidation became urgent almost immediately and this need significantly strengthen … after the debt crisis contagion flooded Europe. In the paper we provide an overview of main trends in public budgets and …
Persistent link: https://www.econbiz.de/10011113068
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Measuring fiscal stance for the United Kingdom, 1920-1990
van der Eng, Pierre - Volkswirtschaftliche Fakultät, … - 1992
The purpose of this paper is twofold. First, it presents a very concise way of measuring fiscal stance. This procedure is based on the assumption that the ‘neutral change’ in the government budget can best be simulated with a long-term approximation of the underlying trend of total output....
Persistent link: https://www.econbiz.de/10011258592
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Fiscal Policy Institutions and Economic Transition in North Africa
Baldi, Guido - Volkswirtschaftliche Fakultät, … - 2013
Sound public finances are crucial for ensuring a successful transformation of transition countries to democratic market economies. The transition countries in North Africa are an important example for this. These countries experienced increasing budget deficits in 2011 and 2012. Public finances...
Persistent link: https://www.econbiz.de/10011260431
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A Causality Test of the Revenue-Expenditure Nexus in Ghana
Obeng, Samuel - Volkswirtschaftliche Fakultät, … - 2015
Abstract The paper investigates the revenue-expenditure nexus for Ghana. The study covers the period 1980-2013. It examines whether increases in government revenue cause increases in government expenditure or increases in government expenditure cause increases in government revenue. It also...
Persistent link: https://www.econbiz.de/10011262873
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Budgeting versus implementing fiscal policy:the Italian case
Cepparulo, Alessandra; Gastaldi, Francesca; Giuriato, Luisa - Volkswirtschaftliche Fakultät, … - 2011
The budgeting process has been recently reformed in Italy (L. 196/2009) in order to improve control of budget and transparency in the provision of clear information on government fiscal policy. Indeed, the general government final expenditures often deviate significantly from the initial...
Persistent link: https://www.econbiz.de/10009228912
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Fiskální pravidla v zemích Visegrádské čtyřky
Melecky, Ales; Skutova, Marketa - Volkswirtschaftliche Fakultät, … - 2011
Recently the popularity of fiscal rules has been increasing also due to the impact of macroeconomic and financial shocks on fiscal sustainability. This paper reviews supranational and national fiscal rules implemented in the Visegrad countries (V4). Namely, we base the review and comparison of...
Persistent link: https://www.econbiz.de/10009322889
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Rules-based economic governance in the European Union: A reappraisal of national fiscal rules
Benczes, Istvan - Volkswirtschaftliche Fakultät, … - 2011
The economic and financial crisis of 2007/2009 has posed unexpected challenges on both the global and the regional … level. Besides the US, the EU has been the most severely hit by the current economic crisis. The financial and banking … crisis on the one hand and the sovereign debt crisis on the other hand have clearly shown that without a bold, constructive …
Persistent link: https://www.econbiz.de/10009368470
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The Cyclically Adjusted Budget Balance in EU Fiscal Policymaking. Love at First Sight Turned into a Mature Relationship
Larch, Martin; Turrini, Alessandro - Volkswirtschaftliche Fakultät, … - 2009
The cyclically adjusted budget balance (CAB) plays a key role in the EU fi scal surveillance framework. It started off in a supporting role in the shadow of the headline defi cit and, before long, turned into the linchpin of the rules of the Stability and Growth Pact. The steep ascent was driven...
Persistent link: https://www.econbiz.de/10008596421